Efforts Underway to Bolster Entrepreneurship to Fostering Transformation in Ethiopia

Addis Ababa November 18/2024 (ENA) Ethiopia’s Minister of Labor and Skills, Muferihat Kamil highlighted the substantial efforts being carried out by the government to promote entrepreneurship with a view to exploit the potential of entrepreneurs to foster knowledge based economic transformation in the country. 

Global Entrepreneur Week officially launched in Addis Ababa today in the presence of high ranking government officials and invited guests.

 

In her opening remark, Labor and Skills Minister Muferihat Kamil highlighted the significance of entrepreneurship in optimizing resources and driving economic transformation. 

She emphasized the importance of entrepreneurship to fostering knowledge based economic transformation of Ethiopia. 

The Minister added that substantial efforts have been made over recent years to promote entrepreneurship across the country, leading to a growing number of successful business ventures.

"Many positive outcomes have been registered and we will continue to expand these efforts this year," Muferihat said.

Entrepreneurship can play a vital role in building a knowledge-based economy by turning the immense potentials into action, Muferihat pointed out, emphasizing the importance of creating enabling environments for entrepreneurs and fostering global connections through various events.

She stated that her ministry has been working in collaboration with pertinent stakeholders to address issues of financial accessibility, ecosystem development as well as policy related challenges for entrepreneurship. 

 

Innovation and Technology Minister, Belete Molla, on his part reiterated that entrepreneurship is an indispensable approach for building a sustainable and reliable economy. 

He stressed that youth centered entrepreneurship need to be technologically provoked for sustainable economic transformation of the country.

Ministry of Innovation and Technology is committed in supporting entrepreneurship initiatives and empowering innovators to bring their ideas to life, Belete underscored.

Ministry of Innovation and Technology is working hand in hand with Ministry of Labor and Skills in creating favorable policy frameworks and laws that support technology-driven entrepreneurship.

Entrepreneurship Development Institute Director General, Hassen Hussen on his part stated that the event emphasizes the creativity and resilience of Ethiopia’s entrepreneurial community.

The week-long entrepreneurship event features an exhibition and bazaar showcasing the achievements of numerous entrepreneurs, offering a vibrant platform for showcasing their work and connecting with potential customers and partners, it was learned.