The United States Agency for International Development (USAID) has awarded a total grant of US$ 660,621 to seven Ethiopian enterprises operating in the livestock sector, Fortune reported.
The award is part of USAID’s effort to encourage investment and innovation in the sector. The enterprises were selected from 78 businesses after a technical evaluation of their proposals, according to Tracy Mitchel, senior value chain advisor at USAID.
The seven companies were also selected due to their potential to benefit smallholder farmers, and their potential for sustainability, without needing to seek additional grants.
“For every one dollar of grant fund they will be receiving, they have already invested or will be investing two dollars of their own funds,” Mitchel said.
Addis Livestock Production & Productivity Improvement Service (ALPPIS), an artificial insemination company; Omo Finance S.C, which provides savings and loans to farmer cooperatives in southern Ethiopia, and Kifiya Financial Technology PLC, a mobile financial services provider, received US$ 100,000 each at an event held on Wednesday, February 19, 2014, at the Hilton Addis.
Project Mercy Inc, a non-profit organisation based in Addis Ababa, received US$ 99,732, while Emebet & Children Dairy, a dairy processing company based in Bahir Dar town was awarded US$ 99,458. Ethio-Feed PLC, a livestock feed producer, received US$ 95,000, and Harame Milk & Milk Products PLC, which intends to open a milk testing laboratory received US$ 66,431, according to Fortune.
USAID’s Agricultural Growth Program-Livestock Market Development (AGP-LMD) is a five-year project funded by the U.S., government’s Feed the Future (FTF) initiative.
Source: Fortune
