info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo by The Ethiopian Herald
The firm, which was established in 2016 in Ethiopia with a a total of 218 million USD investment plan, will invest 70 million Birr as a start-up fund to benefit 1000 youths directly.
On the occasion, General Manager of the firm, Wong Xiaobo stated that the program not only brings jobs to the youth, but it can mobilize them to be job creators. He also talked about the program’s potential to stimulate the spark for entrepreneurship, and entrepreneurial trend within the youth of Ethiopia.
According to the Company, 100 brand stores will be setup in Ethiopia for 1000 beneficiary youths as part of the project, and the Company will guided them into the operation and management of these stores by means of capital investment, personnel training, store designing with the ultimate goal of empowering them to run their businesses. 700 thousand Birr will be given per store, and it is expected the stores will create up to 3000 jobs both directly and indirectly.
President of Oromia International Bank (OIB), Abie Sano Mehamed, on his part indicated that any industry have to harmonize themselves to the realities of the society in which they operate in. He noted that OIB promised to give the young beneficiaries bank guarantees so that the Company will supply them the ceramics products on credit basis.
“In addition to creating job opportunity, discharging corporate social responsibilities have to be the main part of every genuine company in today’s world”, said Industry State Minister Dr. Alemu Sime on the occasion.
The State Minister also commanded Di Yuan Ceramics Plc. in helping fill the ceramics needs of the country. He pointed out the government’s effort in creating conducive environment in the hopes of filling the growing demand of construction materials such as ceramics, which are driven by the growing boom of the construction sector, is bearing fruit.
Producing 29.79 million square meter of ceramic tiles a year (92 percent of the total ceramics production of the country), the Dr. Alemu acknowledged that despite the Company’s performance, there still needs to be more works done in terms of nurturing the sector given that the country still spends tens of millions of dollars on importing such products.
