ADDIS ABEBA – Dashen Bank has launched a new 100 million birr initiative that will support government’s ongoing job creation effort, its officials said on Thursday.
The government of Ethiopia has a plan to create 3 million national jobs in the current fiscal year through various initiatives.
Dashen Bank’s initiative dubbed ‘Ethiopian Talent Power Series,’ hopes to back government’s endeavor to reduce the unemployment burden and create thousands of jobs.
Its first target will be the youth entrepreneurs in six Ethiopian cities – Addis Abeba, Adama, Mekelle, Bahir Dar, Dire-Dawa and Hawassa cities. The initiative would provide training and financial assistance for at least 1000 entrepreneurs in each city, its official indicated.
It would mainly focus on scaling up and building capacity, financial education, financial inclusion for entrepreneurs with innovative concepts, developing business club and creating market linkage, said Asfaw Alemu, Dashen Bank President.
“We begin the initiative with a very good commitment and passion, and we hope it will bring viable results in the employment sector,” said Asfaw.
The president announced the project will be continued until Ethiopia managed to cut the unemployment rate significantly. The 100 million birr budget is just a start and could go up to billion birrs when the initiative becomes full-fledged, he said.
The government has welcomed Dashin Bank’s initiative. “The private sector’s contribution in job creation has not been going as expected,” said Mamo Mihretu, prime minster Abiy senior policy advisor.
The government’s current economic reform focuses on supporting the private sector to be the engine for job creation, he said.
Mamo praised the Dashin Bank saying “it has made a promising and pioneering effort to support small and medium enterprises.”
At least two million job seekers join the market every year. The country plans to create around 20 million jobs in various sectors in the coming ten years.
By Sisay Sahlu