Investment Archives - HabeshaLink

Ethiopian Startups, SMEs Receive $150,000 in Grants Preparing Them for Investment Readiness

The Innovative Finance Lab (IFL), funded by GIZ, has awarded $150,000 in grants to 30 startups and small and medium-sized enterprises (SMEs). Each grantee received $5,000 to boost their investment readiness by strengthening their institutional capacity.

The grant was awarded following a pitch competition for 43 SMEs and startups who were part of the first alumni of the Technical Assistance Facility (TAF) programme run by the IFL.

Launched in 2022 by UNDP and the National Bank of Ethiopia, the IFL aims to establish a hub for piloting and scaling up flexible and innovative financial instruments that cater to the capital needs of Ethiopia’s startups and SMEs.

Speaking to Shega Dagmawit Shiferaw, Director of the Innovative Financial Lab, highlighted that the companies were connected to existing financing opportunities to provide them with institutional capacity until IFL’s financing arm is up and running.

As part of its intervention programmes, IFL init…

Ethiopia Opens Door for Mobile Money Platforms to be Used in Securities Investment

The National Bank of Ethiopia (NBE) has revised its Payment Instrument Issuer Directive, paving the way for mobile money platforms to offer services related to investing in securities. The directive, made public yesterday, aims to establish a more accommodating regulatory framework that fosters competition and innovation in the financial sector.

According to the new directive, mobile money platforms, with written approval from the National Bank and agreements with licensed financial market participants, can now facilitate their user’s investment in government and private securities electronically. These platforms are also authorized to handle payments of principal, interest (coupon), dividends, or any other returns arising from the users’ investment activities.

Experts interviewed by Shega highlighted the directive’s significance, as it liberates the sector for diverse use cases of mobile money platforms in Ethiopia’s upcoming secondary market.

“Just like y…

ICJ, Kazana to Host Third Open Pitch Competition for Startups in Ethiopia with Potential $500,000 Investment

Inclusion Japan (ICJ), a Tokyo-based venture capital firm, and Kazana Group, an Ethiopian-based holding company, have announced the launch of their 3rd round of open pitch competition for startups in Ethiopia.

The competition, scheduled to be hosted at the ALX Tech Hub on August 15, 2023, provides local entrepreneurs with a chance to secure funding and future investment opportunities.

As part of this initiative, ICJ and Kazana Group will offer a cash prize of 100,000 Birr to the winning company. Additionally, the winning startup will have the potential to receive up to $500,000 in future investments from ICJ.

Start-ups looking to participate in the competition must submit a 10-minute pitch video showcasing their ideas and business model by August 7th, 2023, to the email address: [email protected].

The pitch video should include the f…

Safaricom Ethiopia Secures $157.4M Investment from IFC

The International Finance Corporation (IFC), the private investment arm of the World Bank Group, has announced an equity investment of $157.4 million (8.5 billion birr) in Safaricom Ethiopia.

The investment, which will give IFC a minority stake in Safaricom Ethiopia, is also supplemented by a $100 million loan and guarantees that will further support the operator’s telecommunications infrastructure development.

According to World Bank, the investment and guarantees will help Safaricom Ethiopia roll out and operate 4G and 5G mobile networks across the country. Safaricom Ethiopia also announced plans to launch its mobile money service M-PESA in 2023.

“It’s a great honor to have IFC onboard in our investment in Ethiopia. This investment is a significant sign of confidence in not only in Safariom Ethiopia, but also in Ethiopia as a prime destination for mega investme…

ICJ, Kazana Offer Ethiopian Startups Opportunity to Secure Up to $500,000 in Funding, Announce GoodayOn Nearing Investment Closure

The Tokyo-based venture capital firm Inclusion Japan (ICJ), in partnership with Kazana Group, calls on Ethiopian startups with pitch-ready ideas looking to secure significant capital funds, to take advantage of its upcoming exclusive event with an opportunity to secure capital ranging from $100,000 to $500,000.

Local startups applying for the opportunity will have the chance to meet and discuss with senior executives from ICJ and Kazana Group where they can pitch their ideas, as well as have a chance to become one of the eight startup businesses to receive a 100,000 birr prize along with the prospect of future investment from ICJ for a winning pitch.

Teams wishing to meet with ICJ are...

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SAIS Investment Readiness Programme 2023 Calls for Application

The SAIS Investment Readiness Programme (IRP) is calling African tech startups from the agriculture, food, and livestock sectors for a year-long tailor-made support program to make them investor-ready and scale up their business.

IRP, which aims to improve investor readiness so that the startups supported can raise more capital to reach more customers and achieve greater impact, is accepting 20 startups for 2023.

The program includes weekly advisory and coaching sessions with local and international experts, access to online training, additional services to optimize certain segments, Hub integration, and access to the GIZ-SAIS network. Additionally, the program has added services for...

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