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US Search Ad Revenue Balloons To $102 Billion! – Ignite Friday

US Search Ad Revenue Balloons To $102 Billion! - Ignite Friday Big shifts in digital marketing this week! Watch as John Lincoln reports the top stories, from how search ad revenue hit a record-breaking $103 billion, Google Analytics introduced new privacy-first tracking tools, to Meta’s AI-powered ads proved to significantly improve performance and ROI, and much more! 00:02 – Massive Growth in Social, Video, Display & Retail Media Ads 00:39 – Google Analytics Rolls Out Major Privacy & Attribution Updates 01:34 – Demand Gen Ads Now Have Placement & Creative Control 02:07 – ChatGPT Search Explodes in Europe (vs. Google) 03:01 – Instagram Launches Powerful New Video Editing App 04:10 – YouTube Becomes #1 Streaming Platform (Beating Netflix) 04:45 – Threads Expands Ads to All Users 05:19 – Meta AI Revolutionizes Ad Targeting With Creative Diversity 06:05 – BlueSky Introduces Account Verification ►Subscribe: https://bit.ly/2AuX8o5 Learn more about the services we offer: htt…

UNDP Unveils Timbuktoo Fund with Ambitious Plan to Mobilize, Invest $1 Billion in African Startups

The United Nations Development Programme (UNDP) has launched the Timbuktoo Fund, a one-billion-dollar innovation fund designed to support African startups. Announced at the World Economic Forum in Davos, Switzerland, the fund has already received a boost of $3 million from Rwandan President Paul Kagame. The ambitious plan aims to mobilize and invest the targeted $1 billion to foster the growth and development of entrepreneurial ventures across the African continent.

“Timbuktoo represents a new model of development. We are bringing together key stakeholders to address multiple challenges simultaneously, ranging from startup-friendly legislation and world-class startup development to mitigating investment risks. Through initiatives like UniPods – University Innovation Pods – spread across Africa, we aim to bridge crucial gaps and bolster the startup ecosystem. This will facilitate the growth of innovations to benefit people in Africa and beyond,” stated UNDP Administrat…

SantimPay Surpasses 6 Billion Birr Transactions

SantimPay Financial Technology, which joined Ethiopia’s fintech landscape around a year ago, has announced that the transaction volume on its payment platform has now surpassed 6 billion birr.

The fintech startup also revealed that it has onboarded 2000 merchants, and its payment system, comprising an online payment gateway, mPOS (mobile-point-of-sale), and a Unified Payment Interface (UPI), has been utilized by two million unique users.

Realted- SantimPay Officially Joins Fintech Scene with Three Products

These milestones were disclosed during the inaugural general assembly of SantimPay on January 13, 2024. “Reaching these figures have enabled the company to achieve profitability in a short time,” the company said in a Statement.

SantimPay, with the goal of making payments cashless, easy, and simple, was established in 2021 with a registered capital of 160 million birr and 12 shareholders. It commenced operations in November 2023.

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Safaricom Ethiopia to Invest Additional $2 Billion in the Next Two Years

Safaricom Ethiopia has announced plans to invest between $1.5 billion to $2 billion in infrastructure over the next two years. This investment, coupled with the telecom operator’s existing commitment of $600 million in building network towers, aims to expand its coverage to approximately 7,000 towers, reaching 85 percent of the population.

“We have already erected 2,000 towers in the past two years. Now, we are aiming to add 5,000 more,” stated Wim Vanhelleputte, the CEO of Safaricom Telecommunications, during his first media held today appearance since taking office.

Safaricom has presently extended its reach to 26 large and medium cities, achieving a population coverage of 30%. The company expressed its dedication to reaching breakeven within the next two and a half years. Wim emphasized, “We are committed to delivering fast, high-quality, reliable internet service in Ethiopia.”

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Kenya’s Insurtech Startup Pula Reaches 120,000 Ethiopian Farmers, Totaling One Billion Birr in Coverage

Executives at the Kenyan Insurtech provider Pula have announced the insurance coverage of over 120,000 Ethiopian farmers against climate disasters, totaling one billion birr (18 million dollars) in insured sums.

“I am delighted to announce the launch of the Largest Crop Insurance in Ethiopia, with a total sum insured of ETB 1 Billion, protecting 122,000 teff and wheat farmers in the Amhara region,” wrote Dagmawi Haileyesus Pula Country Project Manager on LinkedIn.

Pula is a Kenya-based agricultural insurance and technology company specializing in innovative agricultural insurance and digital products designed to assist smallholder farmers. The first phase of its Area Yield Index (AYII) Insurance product for Ethiopian farmers was launched a few months ago.

The insurance product provided by Pula safeguards farmers’ investments, particularly in fertilizers, ensuring they have financial resources available to purchase essential agricultural supplies for the ne…

Nedaj Processes 2 Billion Br in Fuel Transactions

EagleLion System Technology, a local IT firm, has announced that its digital platform for fuel payment Nedaj has processed transactions worth 2 billion birr.

The platform which is developed in collaboration with the Commercial Bank of Ethiopia (CBE) achieved this milestone within two months of its launch.

“Fuel transactions form the backbone of the energy industry, and Nedaj’s digital platform represents a monumental leap forward in streamlining these complex processes,” Bersufekad Getachew, CEO of EagleLion wrote on social media.

Nedaj is integrated with CBE accounts to facilitate the payments and has additional features such as locating local gas stations and receiving electronic invoices.

The app is among the few platforms, alongside telebirr, that the government has authorized for cashless fuel transactions, as part of a mandate to promote digital payments and enforce greater control. Other notable platforms include CBE Fuel and COOPay Ebirr.

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Michu, Ethiopia’s First Uncollateralized Digital Lending Platform, Disburses One Billion Birr in Loans

Cooperative Bank of Oromia (coop) has announced that Michu, Ethiopia’s first uncollateralized digital lending platform, has disbursed loans exceeding one billion birr.

A collaboration between coop and Kifiya Financial Technology, Michu has served 100,000 clients, with an average loan amount of 12,000 birr per borrower.

Deribe Asfaw, President of the Cooperative Bank of Oromia, provided an update on Michu’s progress today at a Knowledge Series Conference attended by key stakeholders.

The conference, titled “Data-Driven MSME Digital Lending for an Inclusive Economy,” was organized by the National Bank of Ethiopia in partnership with the International Financial Corporation (IFC),...

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