Ethiopian women get World Bank support

DEVELOPMENT

|
Image: By World Bank
Ethiopian women get World Bank support

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.



Share the News

Get Daily Newsletter

Search News

comments powered by Disqus

MORE DEVELOPMENT NEWS

Social Entrepreneurs provide sustainable solutions for Africa’ development priorities - Report

Is social entrepreneurship the new face of development? A recent impact report released by Reach for Change suggests it might be. Read More

Dimension Data, Cisco to protect rhino by tracking people

In a bid to reduce rhino poaching in South Africa, Dimension Data and Cisco will leverage technology to proactively intervene and stop people entering game reserves illegally. Read More

Global partnership launches programme to save children affected by HIV in Lesotho

Mobile technology will be harnessed to help Lesotho combat the impact of HIV in a new global partnership programme. Read More

Rockefeller Foundation funds nonprofit bringing online business course to Africa

In May, the Center for Global Enterprise (CGE) will offer a unique online course designed to provide practical management expertise in emerging platform business models opening up new opportunities across Africa and the global economy. Read More

Ethiopia gearing up to transform education through technology

Microsoft and the Ministry of Education in Ethiopia are coming together to transform education, further innovation and develop employability. Read More

Next Einstein Forum launches global call for a new era in science and technology in Africa

The Next Einstein Forum has launched a global call for support for Africa’s scientific and technological emergence.  Read More

MTN Ghana rewards Heroes of Change for their selfless acts

Madam Paulina Opei, Founder of “Save our Lives Orphanage” and a trained nurse was crowned the overall winner of the MTN Heroes of Change Season II at the Accra International Conference Centre.  Read More

Egypt to launch digital hub to help Africa better track and control disease outbreaks

A new African Health Data and Disease Control Hub will serve as a data, information and communication portal for African citizens, governments and institutions. Read More

MTN Ghana set to collect 1,700 pints of blood for National Blood Bank

Ghanaians from all walks of life trooped to the various MTN’s “Save a Life” campaign blood collection centre across the country to donate their blood to support the National Blood Bank. Read More

Love comes to pupils of Tigo’s Shelter 4 Education Project

Valentine’s Day came early for the pupils and teachers of Obeng Yaw Basic School in Adeiso, and Tupaa MA Basic School in Ga South Municipality.  Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor Networks

FEATURED STORY

Criticism over Remita borne out of ignorance, says SystemSpecsCriticism over Remita borne out of ignorance, says SystemSpecs

The CEO of SystemSpecs, the company behind the revenue-saving Nigerian Single Treasury Account (TSA) system, speaks to Biztechafrica.

IN DEPTH

IBM Opens First Cloud Data Centre in South AfricaIBM Opens First Cloud Data Centre in South Africa

IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.