The Development Bank of Ethiopia (DBE) is set to disburse $43 million, in partnership with the Ministry of Labor & Skills (MoLS), to support youth entrepreneurship and Small and Medium Enterprises (SMEs). This initiative, backed by funding from the African Development Bank (AfDB), is geared towards kick-starting agriculture-based businesses.
DBE President Yohannes Ayalew (PhD) highlighted that most preparatory work has been completed, with projects expected to begin by next year. He emphasized the importance of supporting innovative entrepreneurs and hinted at future collaborations between DBE and MoLS.
DBE has a history of backing youth entrepreneurship, including previous initiatives like a four-billion-birr fund for startups. However, stringent financing conditions have sometimes limited the success of such programs.
Labor and Skills Minister Muferiat Kamil praised the financial support from AfDB, noting that it will help grow agricultural enterprises and boost employment through SME development.
Recently, the Ministry also launched a two-week bootcamp for finalists of the Bruh ICT Competition, with the top entrepreneurs receiving financial support and continued backing from DBE.
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