New Programme Aims to Curb Industrial Park Staff Turnover


[ssba-buttons]

The Mastercard Foundation's BRIDGES Programme and its partners are looking to lower the staggeringly high turnover rates at industrial parks through the introduction of a saving and career development scheme. Dubbed 'Tatari,' the platform will match the savings deposited by industrial park employees at the Commercial Bank of Ethiopia (CBE), up to 10pc of monthly salaries for five years. At the end of the saving period, employees will have the option of withdrawing the funds to establish micro and small enterprises. The matching fund will be covered by the employing factories. Aiming to encourage employee retention and prevent staff turnover, which can reach as high as 50pc in a month and even 100pc in three months' time, the saving system was launched two weeks ago. The Mastercard Foundation will provide technical assistance, while First Consult has been chosen as a consulting firm for the project. Two factories inside Hawassa Industrial Park have already showed an interest to implement the project. Almost all industrial park employees are women, who come mostly from rural areas with agricultural backgrounds.


Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...