U.S. Businesses Creating Impact in Ethiopia

Addis Ababa July 12/20 19 The American Chamber of Commerce (AmCham) in Ethiopia has said U.S. businesses are creating impact in Ethiopia at various thematic areas.

The chamber on Thursday launched a report entitled with “Purpose and Prosperity: how U.S. Business are Creating Impact in Ethiopia” here at Sheraton Addis hotel.

Earlier yesterday President Sahlework Zewdie has discussed with delegation members of the U.S. Chamber of Commerce on ways of engaging the private sectors in a range of investment areas in the country.

According to the report, America has had best practices in four thematic areas including skill transfer and workforce development, education, health and wellness, and environmental stewardship and sustainability.

U.S. projects estimated at 2.5 million USD have been operational in order to enhance shared prosperity in providing opportunities for youth in catering and tourism training, enabling skilled workforces, providing clean and safe drinking water and in community based business activities, the report indicated.

Following the report, Rebecca Araya , General Manager of AmChm Ethiopia said Ethiopia has untapped potential to boost bilateral business with America saying “whether firms export, source goods and service from Ethiopia, or invest in the market, the private sector recognizes the upside potential and is engaging for a long haul.”

Acknowledging Ethiopia as one of the fastest growing economies in the world, the general manager underlined that “no greater opportunity exists to adapt and create new business models that are inclusive to the tremendous potential in the market and bring shared value to local communities.”

Ethiopia Jobs Creation Commissioner, Epherem Tekle Lemango, on his part said unemployment has become a bottleneck to the country’s development.

Noting that 20 percent of the unemployed are universities graduates indicates that there is a big mismatch between trained manpower and the market required to enlist them.

In this regard, Ethiopia is striving for unleashing its workforce potential through the private sector engagements.

According to him, over the past year, Ethiopia has created 110 thousand small businesses through domestic and foreign investors.

The U.S. Chamber of Commerce has over 3 million members, the largest business group in the world.