Not coming to Ethiopia to Invest unless central bank rectifies the wrongful appropriation of diaspora shares – Sophia Bekele Eshete

Not coming to Ethiopia to Invest unless central bank rectifies the wrongful appropriation of diaspora shares – Sophia Bekele

The monies and profits confiscated from the sale of the diaspora shares should be returned in full Op-Ed By Sophia Bekele Eshete, Addis Fortune | July 20, 2019 The National Bank of Ethiopia (NBE) passed a guideline about relinquishing shares in banks owned by foreign nationals of Ethiopian origin in 2016. The majority of the public, particularly the intellectuals and legal experts who understood what happened with the sale of the shares by the central bank and the financial institutions, know that it was a huge mistake. Various voices have…

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Ethiopians in diaspora allowed to invest in banking, insurance sectors after a precedence setting court victory in 2017 by Sophia Bekele

“Sophia took up the gauntlet and headed to the court to vindicate her right” The National Bank of Ethiopia (NBE), the agency in charge of regulating the financial sector of the country, will soon introduce a new regulation that will allow Ethiopians in the diaspora to invest in the financial sector that includes banking, insurance and micro finance. The Council of Ministers during its extraordinary meeting approved the Draft Banking Business Proclamation, allowing Diaspora citizens to establish banks in Ethiopia. This was indicated by Yinager Desse (PhD), Governor of NBE,…

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Second Edition EurAfrican Forum 2019 to take place in July themed, Partnership of Equals: Sharing Values, Sharing Prosperity

EurAfrican Forum, an action-oriented platform that aims to foster stronger collaboration between Europe and Africa, has been scheduled for July 219. The second edition is themed “Partnership of Equals: Sharing Values, Sharing Prosperity” – a new approach and paradigm for the relationship between Europe and Africa, changing the narrative for both continents to create an accountable, prosperous and sustainable future together. The Forum is a networking and discussion platform underpinned on the power of Diasporas for connecting people, cities, regions and continents. By invitation only, EurAfrican Forum’s event gathers prominent…

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Women VCs investments explains the inequality in their field

Female venture capitalists (VCs) have made steady progress over the past few decades, but still make up a small percentage of VCs overall. Data released today (Mar. 25) by grassroots initiative Women in VC reveals the limitations that female VCs are working under, and how they affect the progress of women in VC as well as female founders. The vast majority of female VCs are investing primarily in early-stage startups, in the seed and series A funding rounds. Part of the reason they are investing mostly in the early stages…

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Miss.Africa Digital Celebrates International Women’s Day With its Annual Seed Fund Application Drive

Miss.Africa Digital Seed Fund 2019

DCA Trust celebrated the Women’s Day by launching the 2019 Miss.Africa Digital Seed Fund Application Drive. Parallel to my advocacy on the philosophy of positive “tech disruption”, and how it has the ability to create a welcome change in our societies, if we regularly engage in doing something out of our comfort zone for our mind, body and spirit, I’m a great believer that we will find ourselves in a much better space as human beings, as well as be more effective in our work.” 2019: Year of work-life-balance, –…

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Amazon backs down on New York HQ Plans

Amazon CloudFront Edge

“After much thought and deliberation, we’ve decided not to move forward with our plans to build a headquarters for Amazon in Long Island City, Queens,” the company said in a statement. Amazon has announced it will no longer build a headquarters in New York. “After much thought and deliberation, we’ve decided not to move forward with our plans to build a headquarters for Amazon in Long Island City, Queens,” Amazon said in a statement Thursday. The change would have brought 25,000 jobs to the Queens area, but the company would…

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Andela Secures $100M Series D Funding to Build Distributed Eng. Teams and Power its work


Andela the company building distributed engineering teams with Africa’s top software developers, today announced the completion of a $100M Series D funding. The round was led by Generation Investment Management with participation from existing investors including Chan Zuckerberg Initiative, GV, Spark Capital, and CRE Venture Capital. The most recent financing brings Andela’s total venture funding to $180M. Andela was founded in 2014 to connect Africa’s engineering talent with the demand for software developers worldwide. With the Series D funding, Andela will accelerate the development of its technology platform to identify,…

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DotConnectAfrica founder, Sophia Bekele, wins monumental court case against National Bank of Ethiopia

Photo: DCA Founder and CEO Sophia Bekele speaking during the African Women’s Forum Special Program, Crans Montana Forum, #CMF17 Barcelona (Spain). Sophia Bekele, an Ethiopian native with American nationality has won a milestone legal battle against Ethiopia’s Central Bank – that is the National Bank of Ethiopia – whose decision led her to lose shares she inherited from her late father, the Founder of both United Bank and United Insurance,  at an undervalued rate at both institutions. Ms. Bekele, a global entrepreneur and the CEO of DotConnectAfrica (DCA) Group – one…

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Why has sexism festered for so long in Silicon Valley?

Silicon Valley and the wider tech industry have a problem with women. At least, that is what you might conclude after a week that has seen a leading tech investor resign after admitting his involvement in sexual harassment. In just two weeks, two powerful Silicon Valley investors have resigned from the firms they cofounded after women accused them of sexual harassment according to CNN. The men, 500 Startups cofounder Dave McClure and Binary Capital cofounder Justin Caldbeck, didn’t just cross the line once, according to the allegations. Multiple women —…

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#SheTechsAfrica: Miss.Africa Seed Fund Announces its 2016/17 Prize Winners

Closing the global digital gender divide is a pressing concern. Women are yet to reach their full potential as participants in all aspects of society. Closing this digital gender gap can help empower women and girls to actively participate in governance as civil society members and political leaders. The Miss.Africa digital Program, a Pan-African trust program of DotConnectAfrica (DCA) , is aimed in attracting more young girls and women to the Internet platform to enable them form a sizable demographic of Internet users in Africa, thereby involving them in complementary…

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