Mastercard Foundation has announced it is partnering with a consortium of eleven small and middle enterprises (SMEs) in Ethiopia to enable them to manufacture personal protective equipment (PPE) to combat the coronavirus pandemic as the spread of the virus spikes recently in Ethiopia.

The $3.2 million funding for the repurposing of the SMEs in the consortium will be from the Mastercard Foundation COVID-19 recovery and resilience program. The program is specifically set up to help assist institutions and communities in Africa to withstand and respond to the short-term impacts of this pandemic while strengthening their resilience in the long-run.

The six-month rescue program is designed in a way to help the eleven SMEs continue running their businesses and maintain their 1,060 employees, most of whom are women. As such, the funding from the Foundation will be utilized to repurposing their factories and textile machinery as well as renting additional equipment to manufacture PPE for healthcare workers and masks for the general public.

The program will also include the onboarding of an eCommerce marketplace to enable the SMEs to sell their products online which negates the impact of social distancing while increasing their and resilience in the long-term. Kifiya Financial Technologies, an existing Mastercard Foundation partner, will lead the management of the fund; and provide the online platform and business support at no cost to the SMEs.

The SMEs within the consortium are: Enzi Shoes, FIF Trading PLC, Gaber Textiles, Habte Garment, KABANA Leather, Kootekett Leather, Mafi, Meron Addis Abeba, Sadula Business PLC, The Look Interiors, and Yefikir.

Source: FBC