EU sponsors dev’t of business centers at AAU

Addis Ababa, May 4, 2016 (FBC) -The European Union (EU) delegation to Ethiopia is sponsoring the creation of the Ethio-European International Business School (EEIBS) and the Ethio-European Business Innovation Centre (EEIBIC) at the Addis Ababa University (AAU).
The Deputy Head of Delegation of European Union to Ethiopia, Terhi Lehtinen announced the development of the two institutions at an event organized in Addis Ababa today.

The latest project is funded by the European Union in partnership with the government of Ethiopia under the Transformation Triggering Facility (TTF) project.

EU is covering the total cost of the project which is projected to consume 35 million Euros.

The Business Innovation Center will promote partnerships between public and private organizations, according to Ahmed Shide, State Minister of Finance and Economic Cooperation.

Ahmed also commended positive moves by the Transformation Triggering Facility (TTF) towards developing the business centers.

Professor Upkar Pardesi, Director of Ethio-European International Business School on the project introduction event said the TTF project consists of four main components including Small and Medium Enterprises (SMEs) and Markets Development, Business Skill Enhancement and the Fostering of Innovation, Hubs Development and Capacity Building and Policy Fine-tuning.

The TTF project will help Ethiopia grow its economy, he remarked during a press conference organized following today’s project introduction event.
We all know that economy and employment is not created by the government but it is the government that has created the conducive environment,” Professor Upkar said stressing on the role of small businesses in creating huge job opportunities for citizens.

“We really want to encourage small business which will be so much potential for Ethiopia at large,” he added.

Dr. Hirut Woldermariam, AAU Vice President for Institutional Development, for her part said the TTF project will contribute a lot to quality of education as well as to professional skills in business areas in general.

Dr. Hirut also said the project will play greatly in the growth and development of the nation.

“Business School and Innovative centre definitely will contribute a lot to the development of the quality of professionals in the country at large,” she added.

According to the Vice President, the project has multiple effects as it helps in producing highly qualified teachers and lecturers that help improve quality of education.