The Ethiopian Enterprise Development (EED) has announced that it successfully disbursed over ETB 6 billion in operational loans to 1,209 small and medium-sized manufacturing enterprises (SMEs) during the first nine months of the 2024/25 fiscal year. The funds are part of the government’s ongoing efforts to strengthen and expand the country’s industrial base.

Abdulfatah Yusuf, Deputy Director General of EED, shared these figures at a press briefing, highlighting the positive impact these loans have had in enabling local enterprises to scale operations, improve efficiency, and create jobs. The loans are aimed at helping SMEs overcome financial barriers, particularly for those that are working to expand their production capacity or upgrade their technology.

Additionally, EED facilitated the distribution of machinery worth over ETB  4.3 billion to 889 enterprises through its lease financing services, further enabling the growth of manufacturing capabilities across Ethiopia.

This support comes at a time when the country’s manufacturing sector is experiencing a resurgence, with the creation of 151,726 new jobs and the establishment of 2,752 new enterprises in the first nine months of the fiscal year. The government’s industrial development agenda also emphasizes import substitution, with 1,451 enterprises producing 902,191 tons of proxy products, saving the country an estimated $1.6 billion in foreign exchange.