Ethiopian Entrepreneur Recognized Among Africa’s Top Business Innovators
Belsufekad Getachew Amare has achieved a significant milestone for Ethiopia’s evolving digital economy by being named one of the Top 100 African Business Heroes at the 2026 Africa Business Heroes Awards. His recognition comes from a competitive pool of 24,000 entrants across the continent, marking a notable achievement for Ethiopian representation in one of Africa’s premier entrepreneurship contests.
This honor underscores the rising prominence of Ethiopian entrepreneurs in the African business landscape, particularly within a competition dominated by participants from traditionally strong economies such as Kenya, Nigeria, Egypt, and South Africa.
Belsufekad is one of the few Ethiopians to make it to the top 100 since the award’s inception. He serves as the founder and CEO of Eagle Lion Group, an organization that has evolved from Eagle Lion System Technology PLC into a multifaceted technology group involved in fintech, digital banking, payments, remittances, travel, agriculture, media, and enterprise technology.
Eagle Lion System Technology stands out as a pioneering fintech enterprise with a diverse portfolio of over 20 innovative digital products, many specifically designed to fill significant gaps in Ethiopia’s financial and digital sectors. The organization has rolled out solutions that cater to banks, microfinance institutions, merchants, farmers, travelers, governmental initiatives, and the public at large.
As the founding chairman of Choice Microfinance Institution, Belsufekad has played a pivotal role in introducing Ethiopia’s first fully digital microfinance institution, which has received licensing from the National Bank of Ethiopia. This institution has implemented Temenos, a fully digital core banking system, positioning itself as a leader in technology-driven microfinance.
Advances in Payment Solutions and Remittances
Belsufekad also chairs StarPay Financial Services SC, a licensed payment system operator that is quickly becoming one of Ethiopia’s largest payment gateways and aggregators. StarPay has enabled payment solutions for over 300,000 merchants and businesses in a remarkably short timeframe, processing transactions exceeding 2 billion birr.
His entrepreneurial ventures extend into finance and remittances with the development of CashGo, one of Ethiopia’s inaugural digital remittance platforms, launched approximately six years ago. Additionally, the group has rolled out EthioDirect, another digital remittance platform that facilitates diaspora remittances to Ethiopia.
Belsufekad’s influence in the digital financial landscape is further demonstrated through his involvement with CBE Connect, a collaboration with the Commercial Bank of Ethiopia, StarPay Financial Technologies, and Eagle Lion Technology. CBE Connect is a cross-border digital wallet that facilitates formal remittance flows, diaspora banking, and multi-currency transactions. It allows Ethiopians abroad to manage their funds and access essential financial services through digital channels.
Innovative Platforms in Travel, Agriculture, and More
In the travel and hospitality sector, Belsufekad introduced GuzoGo, Ethiopia’s first fully digital flight aggregator, which features 10 airlines. His portfolio also includes GetRooms, a digital hospitality platform designed to streamline travel experiences.
In agriculture, Eagle Lion is behind GetFi Enterprise, the nation’s first fertilizer payment aggregator. This platform has transformed fertilizer sales, empowering over 1.5 million farmers to purchase these essential inputs digitally. To date, GetFi Enterprise has processed trading volumes exceeding 66 billion birr, with an average daily trading volume surpassing 500 million birr and operations expanded to nine regional states.
Belsufekad’s team has also pioneered an innovative “buy now, pay later” digital lending product named Dube Ale, launched in partnership with Dashen Bank about three years ago. This offering provides credit limits of up to 700,000 birr, serving over 22,000 companies with both salary-based and collateral-based loan options.
The reach of Eagle Lion extends to initiatives like ItsMyDam.com, a crowdfunding platform aimed at supporting the construction of the Grand Ethiopian Renaissance Dam. This platform allows Ethiopians worldwide to contribute digitally to a cause of national significance, all through a system developed and managed by Eagle Lion.
Significance of the Africa Business Heroes Initiative
The Africa Business Heroes initiative began in 2018, launched by Alibaba founder Jack Ma, who committed an initial US$10 million to support 100 African entrepreneurs over a decade. This initiative was inspired by his visit to Africa in 2017, where he recognized the continent’s entrepreneurial potential.
Through grants, business training, and ecosystem support, the program aims to empower selected entrepreneurs. The inaugural competition was held in Accra in November 2019, with the first winners sharing a prize pool of US$1 million. Over the years, the competition has gained popularity, evolving into one of Africa’s most prestigious business awards and showcasing the businesses that are shaping the future of the continent’s economies.
