Hey Guys,
The weekend is calling, Big 5 Daily is ready.
Ready? Let’s read!
Is Ethiopia liberalizing or what? After inviting Telcos to bid for as much as 40% stakes, it has come back to say that the two incoming operators will have to rent infrastructure from Ethio Telecom. Like, are they for real right now?
Moving on to another interesting gist, Bank of Abyssinia has implemented Visa CyberSource Payment for e-commerce businesses. The good news is that it is officially the first Ethiopian bank to provide the Visa payment gateway for online payment services. Kudos, Abyssinia!
Jumia has released its second quarterly report for 2020. Gross profit, after Fulfillment expense, reached a record €6.0 million, compared to a loss of €0.7 million in the second quarter of 2019. Also, operating loss was €37.6 million, a 44% decrease year-over-year.
Yet another good news! FoodTech Africa is asking Kenyan agritech startups to participate in its 10-week accelerator programme. The selected winners will have opportunities to meet investors, receive intensive training, mentorship, and go home with $100k.
Uganda is making Africa proud with its state-owned Kiira Motors, manufactures of the first indigenous electric buses in the continent. Kiira Motors aims to manufacture 5000 vehicles and buses per year, starting from July 2021.
Are you ready for a super-duper weekend? Get going already but remember to stop by next week for more gists.