Global Entrepreneurship Week closing event held in the Capital

Addis Ababa, December 4, 2022 (FBC) – The Global Entrepreneurship Week closing event is being held in Ethiopia.

According to the Ministry of Labor and Skills the closing program is being held in attendance of ministers and invited guests.

Minister of State for Labor and Skills, Nigusu Tilahun, said that the Global Entrepreneurship Week event was a success.

Nigusu, during the closing program, indicated that challenging procedures and opportunities for entrepreneurs will be discussed.

He stated that the winners from the competitions held during the global entrepreneurs week will be recognized.

The State Minister also confirmed that the activities to be carried out from November to November (the year ahead) will be announced.

The Minister of Innovation and Technology, Belete Mola, for his part, said that the Global Entrepreneurship Week, which is held every year in November, has become a program that shows that there are a million opportunities for a million problems.

Emebet Melese, Vice President, Strategic Planning and Transformation Office at Commercial Bank of Ethiopia, said that CBE has implemented key financial strategies to encourage entrepreneurs through organizing the financial infrastructure, establishing a system to expand access to banking services, strengthening the capacity of financial institutions and increasing the use of digital strategies.”

“Policy and legal frameworks play an important role in maintaining a stable macroeconomic environment and creating an enabling environment for entrepreneurs,” said Tirumar Abate, Minister of State for Planning and Development.

In order to encourage new sectors that are a source of growth and bring quality economic growth, indigenous economic reforms and a ten-year development plan have been prepared, she reminisced.

“Reform works have also been carried out to implement the plan. Many activities have been done on improving financial supply, modernizing procedures, showing many investment options, working on sector improvements, strengthening relations between institutions, increasing the role of the private sector, and organizing a structure that enables institutions to fulfill their assigned missions, among other important issues” the Minister of State added.

Baisa Bedhadha, Minister of State for Innovation and Technology, for his part stated that his office is working to solve problems by analyzing the state of the innovation ecosystem.

“Work has been done to build the capacity of the executive bodies to establish a legal and policy framework,” he stated.

“Involving stakeholders directly in innovation, doing activities based on the needs of the market, developing innovation infrastructure, revising the existing policy and preparing decrees were our main activities,” Baisa indicated.

In terms of providing services based on start-up businesses, the Start-up Act allows start-ups to get financial support by introducing them to business and working together with the private investor, he indicated.