ADDIS ABABA – The Youth Revolving Fund has been effectively circulated to shoring up the youth wide-ranging benefits, addressing unemployment rates, and mobilizing and inspiring the youth to put their maximum efforts in the ongoing economic transformation, the Federal Urban Job Creation and Food Security Agency said.
According to the Agency’s last quarter report, the government has allocated over 8.4 billion birr from the total revolving fund of 10 billion birr till October 2018 to create abundant job opportunities for youths in all regional states and two city administrations.
Assefa Ferede, Agency’s Communication Director, told The Ethiopian Herald, the government has properly allocated the fund for creating plentiful job opportunities for youths across the country; despite the major problem was for whom the loan should be given. In this regard, the primary goal of providing the revolving fund is to benefit many youngsters demanding fervent support for job creation, Assefa said. About 88,153 citizens across the country were engaged in various regular job opportunity programs during the first quarter of this fiscal year.
Among the total jobs created so far, 53,351 were employed as permanent, whereas the remaining 35,802 in provisional basis. Of these, 34,064 youths which constitute 39 per cent were women, Assefa added. According to the data obtained from the Agency, of the total circulated amount of 8,459,013,836 birr, Addis Ababa secured the highest portion from the revolving fund with total sum of 418,830,998; while the Ethiopian Somali and Amhara States followed by securing 361,597,596 and 315,945,809 Birr respectively.
Besides, Benishangul Gumuz has relatively secured the greater portion from the revolving fund with a total sum of 56,450,742 Birr; while Dire Dawa and Afar secures 43,971,773 and 43,653,300 Birr respectively. Additionally, jobs were created for 128,754 citizens in various government mega projects. Of these, 119 and 132 were created for persons with disability and migrants respectively.
Consequently, a total of 5,794 graduates from university and technical and vocational schools have been benefited from the revolving fund. Getinet Tesema, Deputy Head of Bishoftu City’s Small and Micro Enterprise Development Bereau, told The Ethiopian Herald that the youth’s revolving fund has outstanding advantages in leveraging the social and economic burdens that would be managed by cultivating job loving citizens.
According to him, creating ample job opportunities will also help the country achieve peace and stability in the city and across the country. Keeping the pace towards peaceful working environment, the youth will participate in confronting anti-peaceful forces in the country. Since youths job opportunities launched at the national level a decade ago, more than 80 percent of youths have been recruited from youth employment opportunities. Since 2015 to 2017/18, more than 4,000 youths were benefited from job opportunities programme.
Ahimed Edris, Head of Adama City Job Creation and Food Security Bereau, for his part said that creating job opportunity helps youths for increasing their income and improve their livelihood. Ahmed also said there are a number of youths that have built their own modern buildings, bought modern cars, and are enjoying luxury life after they transferred from shed to manufacturing owners.
This could also support the country to increase the overall economic growth, he added. Out of the 15,000 youths in Adama city, over 14,700 youth have been given 81 million birr loan to be invested on 41 hectares of land. In this regard, the youths particularly those engaged in animal fattening and poultry farming have achieved the desired outcomes. For instance, over 45 associations have accumulated a capital of 63 million Birr. These companies have been transferred from small scale to medium-scale enterprise, and created over 500 jobs.
The Ethiopian Herald, December 22/2018
BY HIZKEL HAILU
