SMEs generate more than 122,000 jobs during last FY: EED

Addis Ababa, August 6, 2023 (FBC) – Ethiopian Enterprise Development (EED) announced that Small and Midsize Enterprises engaged in the manufacturing sector have brought about more than 122,000 jobs during the concluded Ethiopian Fiscal Year.

Strategic Affairs CEO at EED, Mujidia Habib, exclusively told Fana Broadcasting Corporate that most of manufacturing enterprises have been engaged in production of substitute products during the budget year.

Number of medium and small scale enterprises joining production of substitute goods is increasing as 799 of the small scale ones have transformed to medium level, Mujidia said.

She added 77 medium scale enterprises have also been upgraded into higher status.

Mujidia further pledged commitment to boost production capacities of enterprises and expand manufacturing sheds and showrooms that would help enterprises display and promote their products thereby expedite the job creation endeavors.

Given the importance of small and medium enterprises (SMEs) to the Ethiopian economy, the government started focusing on private sector growth and support for SME competitiveness, to help facilitate the creation of three million jobs each year.

By Melaku Gedif