Japan, Italy in Support of Entrepreneurs

Jan 26 , 2019

The governments of Japan and Italy are financing a women’s entrepreneurship project for 65 million dollars. The Women Entrepreneurship Development Project, which has been underway for the past year, focuses on creating job opportunities for women. The new funding will allow expansion of the program for two more years. Thus far, the project has provided 2.6 billion Br in loans to over 10,000 women. The new funding will add the city of Axum, Gonder, Assela and Dilla as beneficiaries of the project. The Development Bank of Ethiopia, through 12 Micro Finance institutions, is currently providing the loans in Addis Abeba, Adama, Bahir Dar, Dire Dewa, Hawassa and Meqelle. Beneficiaries of the project have shown a 44.8pc increase in their productivity, according to the World Bank. It also noted that 98pc of the women have been able to pay back their loans.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...