EIC Brigde consult MOUEthiopian Investment Commission (EIC) has signed a memorandum of understanding (MoU) with First Consult on Monday in order to implement the digitization of the labour supply and matching database for factories within seven industrial parks in Ethiopia.

The MoU was signed today by EIC Commissioner, Lelise Neme, and, the BRIDGES Program Project Manager Michael Addisu.

The partnership between First Consult, which is implementing the BRIDGES Programme, an initiative supported by the Mastercard Foundation’s Young Africa Worksin Ethiopia strategy and the Ethiopian Investment Commission (EIC), will lead to a series of job creation and employment interventions across several industrial parks (IPs) throughout the country.

The seven Industrial Parks participating in the utilization of the IP labour database include: Adama IP, Debre Berhan IP, Dire Dawa IP, Bahir Dar IP, Hawassa IP, Mekelle IP, and Kombolcha IP.

The BRIDGES Programme, which is a five-year initiative, will support the creation of close to 600,000 jobs for young people (80% women) and 15,000 micro, small, and medium enterprises (MSMEs). Furthermore, the BRIDGES Programme will train 300,000 unemployed young people through industrial park job creation initiatives, and market linkage between industrial parks and MSMEs.

The creation of a digital industrial park labour database will unlock the potential for job creation within industrial parks, as well as their surrounding ecosystem. Additionally, it will promote local value addition and domestic linkage between large investors and local suppliers. The IP labour database will also be used as a major instrument for optimal, reliable, and predictable labour market information for policy makers and industrial parks.

The expected impact of the digital IP labour database includes facilitating the matching of labour supply and demand to support an estimated 100,000 jobs within two years as well as supporting 30,000 industrial park workers to obtain soft-skill training and awareness of the industry for better comprehension and career development planning.

The BRIDGES Programme, which is a part of the Mastercard Foundation’s Young Africa Works initiative, intends to facilitate and provide technical assistance toward the development of the digital labour database. In Ethiopia, the Mastercard Foundation, through its Young Africa Works strategy, aims to create 10 million dignified and fulfilling jobs and employment opportunities for young people by 2030.

The Ethiopian Investment Commission will take the lead in supervising the development of the IP labour database and manage its data collection and aggregation of information from all participating industrial parks. The EIC will also work to ensure proper buy-in and utilization of the database by stakeholders and investors.

Work on the digital IP labour database will begin in mid-September 2020 and continue throughout the implementation and scale up to additional industrial parks. Full development of the database and transfer of ownership to the Ethiopian Investment Commission will be completed by 2023.

EIC Public Relations Directorate

Australian InvestorsFortescue Metals Group Ltd, an Australian company, has shown its interest in investing in Ethiopia’s power sector.

Representatives of the company on Thursday, September 17, 2020, held discussion with Dr Seleshi Bekele, Ethiopia’s Minister of Water, Irrigation and Energy.

The company expressed its interest to generate a total of 25 gigawatts of power (15GW from hydropower and 10GW from geothermal) at a cost of $10 billion.

Speaking at the meeting, Dr Seleshi said “this is a big opportunity for Ethiopia.”

The government of Ethiopia has recently introduced a reform to improve electricity access in the country, which currently stands at 45%.

The nation has a plan to increases access by developing clean and renewable energy, financing the sector, involving the private sector and building strong institutions, he said.

Read More At: https://africabusinessnetworking.com/australian-company-to-invest-in-ethiopias-power-sector/

World BankThe World Bank Group’s Board of Executive Directors approved 80 million USD grant to support the government of Ethiopia to boost agricultural productivity and enhance market access for smallholder farmers.

The additional financing will help to address the existing challenges and is key to ensuring that Ethiopia’s agricultural sector reaches its full potential, according to a press release issued by the Bank today.

The World Bank 2019 Poverty Assessment agricultural growth was a key driver of poverty reduction over the past decade for Ethiopia, the Bank said, and noted “additional financing for the Second Agricultural Growth Project (AGPII) will further increase the economic potential of Ethiopia’s agricultural sector”.

Senior Agricultural Specialist at the World Bank, Vikas Choudhary said “AGPII has made notable contributions to poverty reduction in Ethiopia. The project has been delivering solid results on the ground, especially in increasing productivity and enhancing commercialization.”

See more at: https://africabusinessnetworking.com/wb-approves-80-mln-grant-to-support-ethiopia-to-boost-agro-productivity/

Ethio Djibouti RailwayThe Ethiopia-Djibouti Standard Gauge Railway has recorded an over 51 percent increase in revenue during the first half of 2020 despite the difficulties brought by the COVID-19 pandemic.

Ethiopia-Djibouti Railway stated that its revenue had increased 45 percent in 2019 as compared with its maiden year in 2018, while its income also climbed by 51.38 percent in the first-half of 2020 as compared with the same period of 2019 despite the difficulties brought by COVID-19 pandemic, it was noted.

The railway had in August also commenced the refrigerated train service, by which the Ethiopian fruits and vegetables will be sold to Europe and other parts of the world.

The Ethiopia-Djibouti railway presently provides different kinds of freight services including the transportation of perishable goods, vehicles, cereals and fertilizers at Indode, Mojo, Adama, and Nagad stations.

Read More At: https://www.fanabc.com/english/ethiopia-djibouti-railway-revenue-increases-by-51-pct-in-six-months/

Serbia AmbassadorSome Serbian investors have shown keen desire to invest in Ethiopia in the field of agriculture in particular, the country’s ambassador said.

In an exclusive interview with ENA, Ambassador Aleksandar Ristic said Serbian companies are eager to engage in Ethiopia in different spheres, including in agriculture.

“Serbia has a number of agricultural companies that are very developed and with very skilled people in the sector, particularly in the field of production of seeds. We are aware of the need for seeds in Ethiopia and established contacts between our countries and companies in this field,” he elaborated.

Furthermore, there are other companies interested in joint ventures and producing seeds here in Ethiopia.

According to him, the reforms in the past two and half years in Ethiopia are impressive.

Apart from the ongoing economic and political reforms, major steps have been taken to make Ethiopia conducive for foreign investment, Ambassador Ristic said, adding that “we are therefore encouraging Serbian companies to come here and invest in different sectors.”

See more at: https://www.ena.et/en/?p=16944