Ethiopian women get World Bank support
DEVELOPMENTBy BiztechAfrica - May 28, 2012, 10:28 a.m.
The World Bank has approved a USD50 million credit from the International Development Association for a project to support women entrepreneurs in Ethiopia.
The World Bank says major obstacles that hinder the role female entrepreneurs can play in Ethiopia’s economy include limited access to vital resources such as finance, land, training, education, and effective business networks. Particularly, the microfinance institutions in Ethiopia have a low coverage for women entrepreneurs and do not provide suitable financing.
In order to alleviate these challenges, the World Bank has created an innovative project specifically targeted to female entrepreneurs in Mekele, Bahir Dar, Hawasa, Adama, Addis Ababa and Dire Dawa.
The project aims to increase the earnings and employment of Micro and Small Enterprises (MSE) owned by female entrepreneurs by improving access to financial services and by providing working capital and investment finance through a dedicated line of credit. It will also improve existing Micro Finance Institutions’ capacity to provide tailored financial products to these female entrepreneurs.
According to recent estimates, in addition to creating employment for women in the economic sectors, reducing gender inequalities in education and the labor market could increase Ethiopia’s annual GDP growth by almost 1.9 percentage points.
In addition to providing financing, the project will build the women entrepreneurs’ skills, facilitate their access to technologies that will help them be more productive, and unleash synergies from clustering.
MORE DEVELOPMENT NEWS
Malawi encourages girls to embark on ICT careersMalawi, through the Malawi Communications Regulatory Authority (MACRA), has expressed its commitment to involving girls in the ICT sector. Read More
ICT skills to take on gender digital divideWomen in Senegal are starting to look to ICT to close the digital divide between themselves and their families. Read More
African Philanthropy Forum launchedA new global forum has been launched to promote inclusive development in Africa. Read More
Teaching ICT to Senegal’s kidsThe need for ICT skills has become so apparent that even Senegal’s older generation is prepared to break the bank to give kids access. Read More
Shoppers donate $6.26m to entrepreneursOver 226,000 micro entrepreneurs will benefit from an online and in-store fundraising drive in the US. Read More
Moaning over rural-urban schools digital divide in AfricaSenegal teachers report that the digital divide between rural and urban schools is so frustrating that some teachers in the rural areas are thinking of relocating to urban areas to apply for teaching posts. Read More
Safaricom Foundation hands over maternal health facilitiesResidents of Muiru will no longer have to travel 12km for maternal and child care services following the construction of a new mother and child wing at Kambandi Dispensary, with the help of Safaricom Foundation. Read More
Clean energy contest seeks West African entrepreneursA West Africa Forum for Clean Energy Financing competition is open for regional entrepreneurs to unlock renewable energy and energy efficiency investments in West Africa. Read More
Africa’s technology addictionAfrica is ready for a growth explosion– if it has the right technology in place, says Rutendo Hwindingwi. Read More
FEATURED STORYICT opens doors for Kenyan slum dwellers
A Nairobi based group is equipping high school girls from Nairobi's slums with ICT skills to help them participate meaningfully in building the economy.
BEST READ NEWS
IN DEPTHDollar-a-month broadband can change Africa
The Microsoft-led 4Afrika TV white spaces project, taking broadband to rural people for as little as a dollar a month, is now expanding in Kenya and launching in Tanzania.