Ethiopia expands startup ecosystem with new draft

A stakeholder discussion forum was held in Addis Ababa where participants exchanged ideas and made suggestions on the draft legislation. 

Ethiopia is in the process of drafting a new proclamation aimed at strengthening the startup ecosystem, according to Minister of Innovation and Technology Belete Molla. The initiative aims to provide the necessary institutional and legal support for the growth of startups in the country. This is reported by Fana Broadcasting Corporate, a partner of TV BRICS.

Molla emphasised the government's commitment to create legal structures that facilitate the rapid growth of startups. He outlined the government's various initiatives to utilise technology and innovation to alleviate poverty in Ethiopia.

The Minister noted that more entrepreneurs are entering the market, which shows that the government is focusing on the private sector as part of its economic reform strategy. Startups have been recognised as a vital factor in national economic development, prompting the government to prioritise their support.

Recognising their significant role in creating jobs and increasing productivity in various sectors, including tourism, industry and agriculture, initiatives to support startups in accessing markets will be intensified.