Ethiopia is moving from Agri economies to the World changing Innovation economies 

As African economies transform from agriculture to industrial, there is a major shift required to self-employment and innovation to reduce employment rates. 

Formerly known for its agricultural economy, Addis Ababa has undergone a significant digital transformation, emerging as a thriving industrial economy. Ethiopia has achieved remarkable macroeconomic stability and is projected to sustain this growth for the next two decades, driving it to become the 3rd largest economy in Africa.  And with predictions that 1 in 4 people will be a youth in Africa by 2050, high on Ethiopia’s agenda is to inspire, mobilize & enable the youth to create new businesses through innovation encouraging self-employment and reducing unemployment. 

GIIG has partnered with The Federal Government of Ethiopia, namely the Ministry of Innovation and Technology (MINT), and Ministry of Skill and Labour (MOLS) and supported by the Entrepreneurship Development Institution (EDI) to grant Addis Ababa, the host city of the highly anticipated Global Startup Awards (GSA) Africa Summit later this year. 

Set in the Museum of Art and Science, the summit will serve as a platform for startups to establish valuable continental and global partnerships with corporate supply chains, investors, organisations and mentors.  The African winners of the Global Startup Awards Africa will be announced and celebrated and will have the opportunity to engage with the GIIG Fund 2. 

This GSA Africa season saw 48 percent of the 8,272 entries focused on tackling climate issues, with two GSA Africa regional winners from Ethiopia, Coffee Resurrect and Husky Energy and Technologies PLC, creating solutions to reduce waste in ‘The Birthplace of Coffee.’ We look forward to seeing them in action and inspiring the young courageous innovative youth populationto develop new businesses, services, and jobs. 

Given its status as the epicentre of one of the most rapidly expanding African economies and a city that has exhibited substantial advancements within the startup sector, selecting Addis Ababa as the host city was a discernible decision. We look forward to welcoming stakeholders to co- create a space of solutions exchange among the attendees. 

“It’s important to continue cultivating innovation to meet Africa’s youth population’s expected growth and spur new industries for future generations. The GSA Africa enables us to be part of this process, and even more so now that we can take the event to Ethiopia,” Jo Griffiths, GIIG and GSA Africa co-founder 

“Our partnership with GIIG reaffirms our commitment to making Ethiopian a bastion of African prosperity by unleashing our talented youth’s immense entrepreneurial prowess, creativity, and innovative capacity in their millions. This event is not just a platform to deepen our ties to the African startup ecosystem – but an opportunity to grow our country’s standing as a hub for world-class ideas and world-changing innovations,” Her Excellency Muferihat Kamil, Minister of Labour and Skills.

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