Study Puts Youth Unemployment at 23pc


Study Puts Youth Unemployment at 23pc

A study conducted by the Central Statistics Agency (CSA) revealed that the rate of youth unemployment in urban areas sat at 23.1pc in February 2021. The Agency considers people aged between 15 and 29 years as youth, and the highest rate of youth unemployment was recorded in Addis Abeba (22.1pc) followed by Dire Dawa (15.9pc), while the lowest unemployment rate was registered in Benishangu Gumuz Regional State (4.3 pc). Unemployment has been a hotly debated topic among policymakers and scholars for decades in Ethiopia. With at least two million people joining the workforce yearly, the number of jobs available, especially in urban areas, has been limited, leaving many youths across the country out of work. To avert this, several policies, including channeling of funds to those organised as small and medium enterprises, have been implemented. In 2017, a revolving fund for the youth was introduced, though the result was disappointing as many beneficiaries failed to repay their loans. The new report, which excluded Tigray Regional State due to the war in the region, revealed youth unemployment declined in the last two years by almost three percentage points. The majority of unemployed persons attended primary education (35pc), followed by those who have never received any formal schooling (33pc).

[ssba-buttons]

Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...