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Negarit Business Review

@Business_Review_0
Channel's geo and language: Ethiopia, English

Passionate about technology, innovation, startups, entrepreneurship, and business dynamics?
Join us to stay ahead of trends, insights and cutting-edge developments! 🚀
For any inquires: liben457@gmail.com
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Negarit Business Review

17 Oct, 14:32

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Food Startup Ethiopian Delights’ Serves Cultural Connection

Growing up in Silver Spring, Md., surrounded by a vibrant Ethiopian community, Beza Bisrat always felt connected to her heritage. Now, she’s turning that connection into a thriving food #startup, Ethiopian Delights, bringing the flavors of her culture to a broader audience.

Bisrat, whose startup journey began at the University of Virginia’s Darden School of Business, is on a mission to make Ethiopian cuisine more accessible. “Food is more than just nourishment. It’s a way to show care and build community,” she explains. Her inspiration came after years of feeling disconnected from her roots while living in places without access to Ethiopian food.

Bisrat began cooking to bridge that gap, experimenting with shelf-stable products that could be easily prepared. She soon realized there was a wider need for her culinary offerings and began selling at local pop-ups.

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Negarit Business Review

16 Oct, 18:35

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Ethio telecom Announces First Round of Stock Sale

Ethio telecom has officially launched its first round of regular stock sales, offering a total of 100 million shares from its 100 billion birr stock.

The sales period begins today, October 6, and will run until December 25. Interested buyers can purchase a minimum of 33 shares, while the maximum purchase limit is set at 9,900 shares.

For those depositing money, the minimum and maximum share purchases translate to 3,333 and 999,900 shares, respectively.

Shares can be bought through Telebirr, with payments required within 48 hours of the transaction. Notable shareholder records date back to January 23, 2017.

This announcement marks a significant opportunity for investors to participate in Ethio telecom’s future growth.
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Negarit Business Review

15 Oct, 10:01

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Meta Platforms has announced a flagship initiative in partnership with ethio telecom, marking a significant effort to enhance digital services in Ethiopia. The collaboration follows strategic discussions between ethio telecom‘s CEO, Frehiwot Tamru, and Vikas Menon, Meta’s Director of Business Development and Strategic Partnerships for the Middle East and Africa, alongside other senior Meta executives.
https://negaritbusinessreview.wordpress.com/2024/10/15/meta-partners-with-ethio-telecom-to-boost-digital-services-in-ethiopia/
Meta Partners with Ethio telecom to Boost Digital Services in Ethiopia
Meta Platforms has announced a flagship initiative in partnership with ethio telecom, marking a significant effort to enhance digital services in Ethiopia. The collaboration follows strategic discu…
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Negarit Business Review

3 Oct, 20:54

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The Cooperative Bank of Oromia has unveiled its partnership with the Inclusive Financial Technology Foundation (InFTF) through a newly signed agreement for money transfer services.

InFTF is recognized for developing technology in the money transfer sector.

According to the bank, this agreement marks Ethiopia's first initiative to facilitate foreign exchange remittances via blockchain technology.

The implementation of this technology will allow for quicker and simpler money transfers, with remittance orders being completed in as little as three seconds, as stated by the bank.
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Negarit Business Review

3 Oct, 11:46

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Here Are the New Ethio Telecom Prices: What You Need to Know

Ethiopia's state-owned telecom provider, Ethio Telecom, has introduced a wide-ranging tariff increase, prompted by rising operational costs following the adoption of a floating exchange rate policy two months ago.


@shegahq
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Negarit Business Review

30 Sep, 15:31

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Research: The Average Age of a Successful Startup Founder Is 45
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Negarit Business Review

8 Sep, 12:03

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Addis Ababa Introduces Digital Parking Tickets

In a bid to streamline the capital's fragmented parking system, currently managed by 350 youth unions, Addis Ababa's Traffic Management Authority is introducing digital parking tickets in the Ethiopian New Year.

Source: shegamedia
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Negarit Business Review

4 Sep, 11:41

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Entrepreneur turns banana fibres into hair extensions

Ugandan entrepreneur, Juliet Tumusiime, who has founded Cheveux Organique International Limited, a company that produces eco-friendly hair extensions made from banana fibres.

𝑶𝒓𝒊𝒈𝒊𝒏 𝒐𝒇 𝒕𝒉𝒆 𝑰𝒅𝒆𝒂: Tumusiime got the idea while working on a USAID project, noticing that banana stems were discarded after the fruit was harvested. She researched and founded Cheveux Organique in 2015 to repurpose these stems.

𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: The company creates biodegradable hair extensions and supports local farmers by sourcing banana stems. Despite challenges like setting up infrastructure and high production costs, the company has successfully launched its products in the market.

𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐏𝐫𝐨𝐜𝐞𝐬𝐬 : The process involves purchasing banana stems from farmers, extracting and treating the fibres, and then combing them into a hair-like texture.

Full Interview
LinkedIn
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Negarit Business Review

2 Sep, 13:07

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As per the International Institute of Business Analysis (IIBA) report, here are the primary reasons for job changes and the key areas for desired growth.
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Negarit Business Review

30 Aug, 14:39

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NBE.pdf
7.4Mb
National Bank of Ethiopia has released it's detailed module to increase financial literacy within MSME's and the youth.

I am excited to invite everyone to explore the National Bank of Ethiopia's newly released detailed module aimed at enhancing financial literacy among Micro, Small, and Medium Enterprises (MSMEs) and the youth. This comprehensive resource provides valuable insights, practical tips, and essential knowledge to empower individuals and businesses in managing their finances effectively. Understanding sound financial principles is crucial for fostering economic growth and sustainability. By engaging with this module, you can gain the skills needed to make informed financial decisions. Don’t miss this opportunity to improve your financial literacy and contribute to our community's economic development.
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Negarit Business Review

30 Aug, 14:36

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Negarit Business Review

29 Aug, 11:42

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#Ethiopian entrepreneur brings #Teff products to global market

Yonas Alemu, founder of Lovegrass Ethiopia, has successfully introduced teff-based products to international markets, including pasta in #Italy. The former investment banker left his career in London to establish a health food company in his native Ethiopia.

"I've been planning it and I've been wanting to do this for pretty much decades," Yonas said of his decision to return to Ethiopia. Despite initial skepticism from friends, he persevered, setting up a factory on the outskirts of #Addis_Abeba.

Lovegrass Ethiopia faced several challenges, including political unrest and the COVID-19 pandemic, which delayed production. However, the company has since secured deals with major retailers like Ocado, Selfridges, and Whole Foods. "The day we first exported pasta to Italy was probably one of my happiest," Yonas reflected.

The company now focuses on both international and domestic markets, with sales split almost evenly. Yonas notes the unique challenges of the Ethiopian market, stating, "You have to be very, very innovative with logistics and distribution."

https://www.howwemadeitinafrica.com/the-businessman-who-exported-ethiopian-teff-pasta-to-italy/174566/
The businessman who sold Ethiopian teff pasta to Italians
Former investment banker Yonas Alemu is the founder of Lovegrass, a food company making products from the Ethiopian super grain teff.
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Negarit Business Review

26 Aug, 16:31

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Boeing Africa Office in Addis Ababa Set to Launch Operations

Boeing has revealed that its Africa branch office situated in Addis Ababa is set to commence operations next October.

Henok Teferra Shawl, CEO of Boeing Africa, stated that the establishment of the Africa office in Addis Ababa comes as a response to the flourishing aviation industry in Ethiopia.

He noted that the office's opening next October will provide further opportunities for Ethiopia to reinforce its status as an aviation center.

Boeing plans to enhance its collaboration with Ethiopian Airlines, particularly concerning the joint production of aircraft conversion equipment.
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Negarit Business Review

26 Aug, 14:38

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Over the weekend, Telegram CEO and founder Pavel Durov was arrested by the French authorities after his private jet landed at Bourget Airport in Paris from Azerbaijan.

- Pavel Durov, 39, is a Russian billionaire who founded Telegram Messenger- an encrypted messaging app intended to rival Whatsapp and uphold the values of free speech-in 2013.

- He emigrated from Russia in 2014 after falling out with the Kremlin over his refusal to block the page of Russian opposition leader, the late Alexei Navalny.

- Preliminary reports from the French government say that Durov is likely to be charged over his failure to set up moderators in his platform, allowing criminal activities to proliferate in the app.

- Durov is also accused of various crimes including organized drug trafficking, promotion of terrorism, fraud, and cyberbullying. To facilitate further investigations, the authorities have obtained orders to detain Durov for an extended period – according to AFP News agency.

Read here
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Negarit Business Review

26 Aug, 09:43

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“The people who are crazy enough to think they can change the world are the ones who do” - Steve Jobs

Happy Monday!
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Negarit Business Review

24 Aug, 10:37

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Ethiopian restaurant sees surge in customers after #TikTok video goes viral

Dukem Ethiopian Restaurant, a U Street staple in Washington D.C. for nearly 30 years, has experienced an unexpected influx of customers thanks to a viral #TikTok video. Lydia Tefera, daughter of the restaurant's founders, posted an impromptu plea on the platform, voicing concerns about the business's future.

"Nearly almost 30 years in, it's coming to the point where we don't know how much longer this business is going to last," Lydia said in the video, which amassed nearly 1 million views within five days.

Founded in 1997 by Tefera Zewdie and Hiwot Gebru, Dukem has recently faced challenges common to many D.C. restaurants: rising costs and declining foot traffic. Following Tefera's unexpected passing in 2022, Lydia and her sister Yodit stepped up their involvement in the business, contemplating various options for its future while striving to maintain its legacy as one of U Street's pioneering Ethiopian eateries.

Yodit reflected on their social media outreach: "Right now, we're hoping that what we're doing, [our dad] would be proud." The strategy seems to be working, as many new diners cited Lydia's TikTok as their reason for visiting.

https://www.washingtonpost.com/dc-md-va/2024/08/23/dc-dukem-ethipoian-restaurant-tiktok/
A D.C. Ethiopian restaurant was struggling. Then its TikTok went viral.
The TikTok, which got nearly 1 million views in five days, has helped bring a surge of customers to Dukem Ethiopian Restaurant.
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Negarit Business Review

21 Aug, 11:17

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Despite the improving adoption of digital financial services by the population in recent years, there still remains a large gender gap.

Source: GSMA Mobile Gender Gap
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Negarit Business Review

20 Aug, 10:44

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Meti Abebe made history by becoming the first Ethiopian American judge on the court. Asked to share her thoughts on breaking a proverbial glass ceiling, Abebe said she felt “very honored and privileged to be the first.”

Congratulations to DC Superior Court’s newest magistrate judge (a Howard University School of Law alum) Hon. Meti Abebe! She was sworn-in on Monday with loving family, friends and fellow staff in attendance to celebrate and welcome her. Read more about the event: https://www.dcbar.org/news-events/news/superior-court-welcomes-two-new-magistrate-judges
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Negarit Business Review

20 Aug, 08:41

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Ethio telecom has revealed it has formed a strategic partnership to offer international money transfer #Hawala services and a virtual visa card.

Describing the collaboration with the global Visa company as significant, the institute noted it marks the introduction of the country's first virtual visa card and enhancements to hawala services.

It also highlighted the potential to roll out upgraded Visa Direct and telebirr Remit services.

With this initiative, for the first time in the nation, customers will have access to a wallet virtual visa card, while the existing hawala services will undergo considerable updates, specifically with the introduction of VISA Direct and telebirr Remit services, facilitating international money transfer hawala services.

Frehiwot Tamru, the CEO of ethio telecom, stated that the Visa Direct service enables Visa cardholders residing in different countries to send money to their home country simply by using their telebirr virtual card number.
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Negarit Business Review

19 Aug, 16:23

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Amhara Bank has declared a pre-tax profit exceeding #377 million birr and confirmed that its deposits have surpassed 25 billion birr.

According to the bank's report for the completed fiscal year 2023/24, it achieved a pre-tax profit of 377.2 million #birr, and its deposits totaled 25.1 billion birr.

With over 1.8 million customers, the bank has extended a total of 20.3 billion birr in loans across various economic sectors.

In its performance report for the fiscal year, Amara Bank highlighted that it has successfully acquired over 571,000 mobile banking users and more than 50,000 card users. Additionally, the bank has made significant advancements in the digital sector by installing numerous ATMs and POS machines in various locations.
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