Mastercard Backs Small Businesses to Repurpose PPE

Jun 14 , 2020


Mastercard Foundation has committed 3.2 million dollars for 11 Ethiopian small and medium enterprises to repurpose their production lines. As part of the COVID-19 Recovery & Resilience Programme, the Foundation has partnered with a consortium of the small and medium enterprises to repurpose their factories and production lines, enabling them to retain their staff. The Programme, which lasts for six months, will help the companies to repurpose and manufacture equipment like personal protective equipment (PPE), face masks and disinfectant. Enzi Shoes, FIF Trading, Gaber Textiles, Habte Garment, Kabana Leather, Kootekett Leather, Mafi, Meron Addis Ababa, Sadula Business, The Look Interiors, and Yefikir are the beneficiaries. These companies employ a total of 1,060 people. The companies were selected from the 105 SMEs that asked Mastercard Foundation for support.  The companies will make PPE for healthcare workers and masks for the general public, according to Alemayehu Konde, country head of MasterCard Foundation Ethiopia. "The fund was timely and crucial to the SMEs, as they’re suffering from the economic disruption caused by the pandemic," says Alemayehu. To enable the SMEs to sell their products online via e-commerce platforms, the foundation has partnered with Kifiya Financial Technologies.  


Radar

Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Radar

Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Radar

Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...


Back
WhatsApp
Telegram
Email