Ethiopia: Workshop Explores Strategies for Empowering Entrepreneurs

ADDIS ABABA – A recent workshop underscored the importance of empowering African entrepreneurs as a key strategy for reducing poverty across the continent.

Speaking at the consultative workshop themed: “Developing Ethically Empowered Entrepreneurs,” Sophos Africa Founder and Executive Director Desta Heliso (PhD) stressed the urgency of addressing the root causes of poverty and fostering entrepreneurship to combat unemployment.

Highlighting Africa’s over reliance on external aid, he emphasized the need for homegrown reforms, asserting that sustainable change must originate from within.

“Africans must wake up and explore innovative solutions to break free from the cycle of poverty,” he stated. “By nurturing a culture of entrepreneurship, we can lay a solid foundation for future generations.”

Desta pointed out Ethiopia’s vast potential, noting that eradicating corruption and ethnocentrism while empowering entrepreneurs would significantly curb poverty. He also emphasized the crucial role of unity and peace in fostering entrepreneurship and good governance.

According to him, Ethiopia’s economic transformation hinges on leveraging local resources and cultivating a mindset of resilience and self-sufficiency. He further highlighted the untapped potential of the Ethiopian Diaspora, suggesting that engaging this community could unlock immense opportunities.

“The sky is the limit if we achieve transition from dependency on aid to investment-driven growth,” he affirmed.

Desta also revealed that Sophos Africa is working alongside banks to facilitate access to credit for young entrepreneurs, enabling job seekers to start their own businesses. Through a revolving loan program in collaboration with the banking sector, the organization aims to nurture ethical entrepreneurship, create conducive business environment, and attract sustainable investments to drive economic development.

He urged African leaders to stay committed to the roadmap for self-sufficiency, emphasizing the importance of knowledge exchange in fostering a collaborative and resilient society.