Addis Ababa City Administration Micro and Small Scale Enterprises announced it has created job opportunity for over 171,000 citizens. 

Presenting the Bureau’s ten months performance the Head, Telahun Worku, noted SMEs are the basis for reducing the unemployment rate. According to the head the city administration has managed to create 171,870 jobs out of which 70 percent are permanent jobs.

Telahun also told journalists during the 10 months the Bureau managed to organize 5,095 enterprises and also extend a 1.1 Billion Birr loan. In addition to this, the City Administration has created over two billion market linkage in order to sustain SMEs. He added the main sources for this linkage are road, housing and other mega projects.

According to the Head, major constraints to the sector are shortage and immediate turnover of professionals, dependency syndrome of SMEs and problem of integration between government structures.

In a related news, the City Administration in collaboration with eight development agencies, has established a company for the purpose of tackling machinery supply limitations to SMEs. Commenting on the new company formed Telahun said the company is formed by the City Administration and eight government development agencies to once and for all solve the machinery problems of SMEs. The company is called Addis Machinery Trade Company.

Explaining the newly established company Getachewe Mekuria, Company communication Supportive Work Process Head, said the company is formed as a share company and it’s establishment cost is 955 Million Birr.

Source: The Ethiopian Herald