Apr 21 , 2024
A couple of businesses have been awarded a 4.9 million euro grant aimed at creating jobs in the healthcare and floriculture industries. Kadisco General Hospital and Tinaw Business Share Company were chosen from a pool of 318 applicants by the Facility Investing for Employment (IFE). Operating on behalf of the KfW Development Bank and the Economic Cooperation & Development of Germany, IFE aims to generate 100,000 jobs in Ethiopia and seven other African countries. The grant arrives at a pivotal moment, with the International Labour Organisation (ILO) highlighting a surge in the number of youth not in education, employment, or training (NEET) across Sub-Saharan Africa, totalling 62 million people. Established in 2004 and staffed by 192 healthcare professionals, Kadisco plans to use the 2.09 million euro grant from IFE to finance equipment for its expansion, which is anticipated to create job opportunities for nearly 249 individuals. Meanwhile, Tinaw, a cut flowers exporter, aims to triple its production within three years by expanding its operations. With a total investment cost of 10.37 million euros, the company will receive close to 2.3 million euros from IFE, to create job opportunities for 1,202 workers.
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