High level; Project Update and Discussion Points For

CEO Meeting - Tamerat (25 June 2024)

Detailed Project Progress Report and Key Discussion Points,

This report provides a detailed update on the progress of our key projects, along with critical
discussion points requiring your strategic direction and approval.

Project Updates:

1. AMS (Africa Medical Service):

● Successes:

○ Network Expansion: We have established partnerships with 22 major hospitals

and 3 Medical Tourism (MT) companies. Through these partnerships, we have
successfully signed agreements with over 120 hospitals across a diverse range
of 15 destinations, including popular medical tourism hubs in Asia, Europe,
Africa, and the Middle East.
○ Lead Generation: Our proactive approach has generated over 60 leads for
potential medical tourism clients within a short timeframe. This demonstrates
significant early market interest.
○ Call Center Readiness: The AMS call center is fully equipped and staffed with
qualified personnel. We are prepared to launch operations immediately upon
securing a launch date.
system Readiness :- system to be owned by AMS under development awaiting
budget finalization
● Discussion Points:

○ Ethiopian Airlines Partnership: To ensure seamless travel logistics for medical

tourists, we require a formal working agreement with Ethiopian Airlines (ET). This
agreement would ideally outline preferential travel arrangements for our clients,
potentially including discounted fares or expedited booking processes. Securing
this partnership is crucial for offering a competitive and attractive medical tourism
package.
○ Marketing Budget Allocation: An effective marketing budget allocation is
essential for successfully launching and promoting AMS services to a targeted
audience. This budget would allow us to develop comprehensive marketing
campaigns across various channels, such as online advertising, travel industry
partnerships, and healthcare professional outreach. We propose discussing
specific budget allocation details to ensure a successful launch and maximize
return on investment.
2. Tollo Pay:

● Successes:

○ Development Completion: The development of the Tollo Pay mobile application

is complete. This signifies a major milestone and positions us to offer a user-
friendly platform for secure mobile payments.
○ Expert Engagement: We are fortunate to have secured the involvement of Mr.
Lema in the Tollo Pay project. His expertise and industry experience will be
invaluable as we navigate the approval process and prepare for launch.
● Challenges:

○ NBE Approval: Obtaining approval from the National Bank of Ethiopia (NBE)
remains the primary hurdle for launching Tollo Pay. We are actively pursuing this
approval but may require your strategic guidance or intervention.
● Discussion Points:

○ NBE Approval Strategy: We propose discussing potential strategies to expedite

NBE approval. This could involve arranging a high-level meeting with NBE
representatives to showcase the innovative features and benefits of Tollo Pay.
Your participation in such a meeting would certainly lend significant weight to the
project and expedite the approval process.

3. Tollo Cash & Ethio Telecom:

● Project Plans:

○ Payment API: The development of the Tollo Cash payment API proposal is
nearing finalization approval and high level discution on project remanining .
○ CRBT (Caller Ring Back Tone): The Tollo Cash CRBT project proposal is
complete. However, we are awaiting Ethio Telecom's official launch date for this
service before proceeding.
○ Call Center Rental: The Tollo Cash call center rental proposal is finalized and
ready for submission to Ethio Telecom.
● Discussion Points:

○ Ethio Telecom Project Alignment: To ensure smooth collaboration with Ethio

Telecom, we may require clarification on their timeline for launching the CRBT
project. This will allow us to better align our own project schedules and optimize
resource allocation.

4. Vestek Technology:

Electric Vehicle Import:

 ● Successes:

○ Supplier Agreement: We have secured a favorable agreement with a supplier

who will provide 6 electric vehicles on loan. Payment will be due after delivery
and sales, significantly reducing upfront costs.
○ Logistical Coverage: Vestek Technology will cover all logistical costs
associated with importing the electric vehicles.
● Discussion Points:

○ Import Budget Allocation: To finalize the import process, we require a budget

allocation to cover import duties, taxes, and any other unforeseen logistical fees.
Securing this budget will allow us to proceed with the import and showcase the
viability of electric vehicles in the Ethiopian market.

Device Financing Project:

● Status:
○ The partner agreement document for the Vestek Technology Device Financing
Project is currently under legal review with the expectation of closing this week. A
minor delay has been encountered, but we anticipate finalization within the
coming days.

Additional Discussion Points:

● Tollo Cash: Past History Clearances and Management Team Assignment: It has
come to our attention that Ethio Telecom may require clarification on any past history
clearances or management team assignments for Tollo Cash before we can proceed
with these projects. We recommend investigating these requirements further and
ensuring we meet all necessary criteria. If any roadblocks are identified, we will propose
solutions to ensure smooth collaboration with Ethio Telecom.
● Agricultural Project: The operational plan for the Agricultural Project is still under
development. We would appreciate your guidance on allocating resources or outlining
next steps to expedite the creation of this plan. This will allow us to move forward with
the project in a strategic and efficient manner.

5. Agricultural Project:

● Progress: We have identified a supplier willing to provide a 90-day Letter of Credit (LC)
or Frankovaluta (payment upon arrival) for the import of three key agricultural
commodities: sugar, oil, and rice.

● We have finalized and submitted the budget plan for import of chemicals awaiting
approval
Discussion Points:
 ○ Market Analysis: Before finalizing any import agreements, we recommend
conducting a thorough market analysis to assess current demand, pricing, and
competition for these commodities. This will help us determine the feasibility and
profitability of importing these specific products.
○ Logistics and Distribution: We also need to develop a comprehensive logistics
and distribution plan. This plan should outline transportation routes, storage
facilities, and distribution channels to ensure efficient delivery of the imported
goods to target markets.
○ Regulatory Compliance: It's crucial to understand any import regulations or
licensing requirements associated with these agricultural commodities. Obtaining
any necessary permits or approvals will be essential for smooth import
processing.
○ Resource Allocation: Depending on the scale of this project, we may require
additional resources or personnel to manage the import process, distribution
network, and potential sales activities.

Additionally, your guidance is needed on the following:

● Strategic Alignment: We would appreciate your insights on how this Agricultural

Project aligns with our overall company strategy. Understanding your vision will help us
ensure the project contributes to our long-term goals.
● Risk Assessment: While the supplier's 90-day credit terms are favorable, we need to
assess potential risks associated with importing these commodities. Fluctuations in
market prices or unforeseen logistical challenges could impact profitability. Your
guidance on risk mitigation strategies would be valuabl

Overall:

We are making significant progress on all key projects. However, securing a launch date for
AMS, navigating regulatory hurdles for Tollo Pay, and obtaining approvals from Ethio Telecom
are critical next steps. We are confident that with your strategic direction and support, we can
overcome these challenges and achieve significant success with all our initiatives.

Call to Action:

We look forward to discussing these points further in detail during the upcoming CEO meeting.
We believe your valuable input and decision-making will be instrumental in propelling these
projects forward and ensuring they reach their full potential.

Additionally, we would be grateful if you could provide guidance on the following:

● Prioritization: Given the various stages of each project, your guidance on prioritization
would be helpful to ensure we are focusing our resources on the most critical initiatives.
● Resource Allocation: Based on the budget allocation discussions for AMS marketing
and Vestek's electric vehicle import, We have finalzied the budget plan as attached
here with in .