Has the World Bank eTransform Project Made Any Improvements for Ghana's eGovernment Initiatives?
Kenya to give fintechs official licences and Ethiopia launches EV factory
What’s happened this Week:
Starlink goes live in Sierra Leone
Botswana Launches Digital Post Office Platform
We published a report on ride-hailing in Ghana for 2024
and more!
In The News This Week:
Kenya Central Bank to Amend Payment Systems Act To Allow Fintechs To Be Granted Licences
The Central Bank of Kenya (CBK) is preparing to amend its Payments Act to allow fintechs to be issued payment licenses.
Ethiopia Inaugurates Electric Vehicle Factory As Part Of Its Green Mobility Initiative
Ethiopia has inaugurated its biggest electric vehicle factory in Debre Berhan in the Amhara region. The inauguration is the first part of the country’s ambitious strategy to turn it into a leading player in green mobility in Africa.
Ghana’s Tech Ecosystem Valued at $2.6 Billion in 2023 – Global Startup Ecosystem Report
In the Global Startup Ecosystem Report 2024, Ghana’s tech ecosystem from 2021 to 2023 was valued at $2.6 billion. The report also highlights the average amount of a tech exit ($70 million) and total VC funding ($331 million)
In the rest of the news:
Beauty Tech Startup Zuri Receives Investment From Renew Capital
Multichoice Sees 9% Drop In Overall Subscribers In Latest Financial Report
Bank Of Ghana Successfully Completes Cross-Border Trade Using Digital Credentials
Spotify To Introduce New Premium Subscription Add-On Later This Year
South Africa Legalises Marijuana Use For Personal Growth and Consumption
Publisher Network Polygon To Expand Media Network Across Africa
2nd Edition of Africa Cinema Summit Scheduled For October 7th in Ghana
Ghana Ride-Hailing Report 2024
We’ve published a new report about the ride-hailing sector in Ghana for 2024. This report looks at the current state of the ride-hailing market in Ghana, the major players currently in the space, government regulations, tax policies, and prospects for ride-sharing in Ghana.
Deep Dive
Has The World Bank’s eTransform Project In Ghana Made Any Real Impact? - In 2012, the World Bank signed an agreement with Ghana to work on an “eTransform” project. The Bank would provide $97 million to help digitize government services and improve connectivity.
12 years later and with the project coming to a close, has it yielded any real-world results?
By The Numbers:
The original eTransform Ghana project was approved in 2012 with a $97 million commitment from the World Bank.
In 2020, the World Bank agreed to provide an additional $115 million in financing. In total, the project is estimated to have a total financing amount of US$212 million.
Why This Matters: The eTransform project has faced challenges in implementation and there have been reports about the effectiveness of some of the projects which have been launched.
Africa Ecosystem Activity
Egyptian bill payment startup Sahl raises $6m funding round - Disrupt Africa
Egyptian prop-tech startup Birdnest raises pre-Series A funding for expansion - Disrupt Africa
Egypt’s ITIDA, Techne sign MOU for 3-year AI-focused programme - Disrupt Africa
Zambian agri-tech startup eMsika plans to expand e-poultry solution to 4 new markets - Disrupt Africa
Moroccan startup Defendis launches AI-powered cyber threat intelligence platform - Disrupt Africa
PODCAST: Carmelle Cadet, CEO of EMTECH
For our first episode of Season 3, we spoke to Carmelle Cadet.
Carmelle is Haitian but grew up in the US after she emigrated. She worked for IBM for 10 years, focusing on payments and blockchain. But she decided to try to make it out her own and decided to start her own company called EMTECH which focuses on Web3 and digital currencies for countries including Ghana.
She raised $4 million from Venture Capitalists in 2023 and is currently on a mission to make digital currencies for multiple countries a reality.
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Stat of The Day
According to a report from the Global Startup Ecosystem Report 2024, Ghana’s tech ecosystem from 2021 to 2023 was valued at $2.6 billion. The report also highlights the average amount of a tech exit ($70 million) and total VC funding ($331 million)
View more data insights below: