ICIPE, MasterCard Foundation inject $10.35 million for silk and honey project

0

The International Centre of Insect Physiology and Ecology (ICIPE) and The MasterCard Foundation today, 4 March 2016, announced a US$10.35 million (approximately 220 million Ethiopian birr) commitment towards creating employment opportunities for young people through beekeeping and silkworm farming.

The five year project is expected to directly benefit 12 500 unemployed and out of school youth and provide opportunities to an additional 25 000 people involved in the value chain from harvesting, to processing, packaging and marketing honey and raw silk.

The announcement was made during a ceremony officiated by Prime Minister Hailemariam Desalegn.

In Ethiopia, the largest honey and beeswax-producing country in Africa, honey and silk enterprises have the potential to provide a wide range of employment opportunities for many of the country’s youth.

“We must create an environment in which youth are a thriving part of the economy,” says Reeta Roy, The MasterCard Foundation President and Chief Executive Officer.

“By creating opportunities in beekeeping and silkworm farming, thousands of young Ethiopian women and men will take the first steps towards becoming successful entrepreneurs and contribute to their country’s continued economic growth.”

“Having grown up in rural Ethiopia, I am fully aware of the impact that opportunities such as these can have on a community. icipe is delighted to use its extensive experience in implementing beekeeping and silk farming initiatives for Ethiopian youth,” adds Segenet Kelemu, ICIPE Director General.

Project participants will receive starter kits and equipment such as hives, honey processors, rearing trays and spinning wheels to get their new businesses off the ground.

They will also benefit from an innovative mix of technical knowledge on modern beekeeping and silkworm rearing, business management skills training, and receive access to financial services, and links to local and international markets.

The initiative will target unemployed, out-of-school young people between 18 and 24 years of age who have completed a grade 10 education, and who are based in the East and West Gojjam of Ethiopia’s Amhara region, as well as in Goma Gofa in the Southern Nations.

Share.

About Author

Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

Leave A Reply