ADDIS ABABA, Ethiopia, March 3, 2016 (GLOBE NEWSWIRE) -- The International Centre of Insect Physiology and Ecology (icipe), and The MasterCard Foundation today announced a US$10.35 million (approximately 220 million Ethiopian birr) commitment towards creating employment opportunities for young people through beekeeping and silkworm farming. The five-year project is expected to directly benefit 12,500 unemployed and out-of-school youth, and provide opportunities to an additional 25,000 people involved in the value chain from harvesting, to processing, packaging and marketing honey and raw silk. The announcement was made during a ceremony officiated by His Excellency Prime Minister Hailemariam Desalegn.
In Ethiopia, the largest honey and beeswax-producing country in Africa, honey and silk enterprises have the potential to provide a wide range of employment opportunities for many of the country's youth.
"We must create an environment in which youth are a thriving part of the economy," said Reeta Roy, President and CEO of The MasterCard Foundation. "By creating opportunities in beekeeping and silkworm farming, thousands of young Ethiopian women and men will take the first steps towards becoming successful entrepreneurs and contribute to their country's continued economic growth."
"Having grown up in rural Ethiopia, I am fully aware of the impact that opportunities such as these can have on a community. icipe is delighted to use its extensive experience in implementing beekeeping and silk farming initiatives for Ethiopian youth," the icipe Director General, Segenet Kelemu added.
Project participants will receive starter kits and equipment such as hives, honey processors, rearing trays and spinning wheels to get their new businesses off the ground. They will also benefit from an innovative mix of technical knowledge on modern beekeeping and silkworm rearing, business management skills training, and receive access to financial services, and links to local and international markets.
The initiative will target unemployed, out-of-school young people between 18 and 24 years of age who have completed a grade 10 education, and who are based in the East and West Gojjam of Ethiopia's Amhara region, as well as in Goma Gofa in the Southern Nations.
The Young Entrepreneurs in Silk and Honey is designed to contribute to broader developmental agendas, such as food security by scaling-up beekeeping to promote pollination services, and environmental protection through sustainable beekeeping and silk farming.
The Young Entrepreneurs in Honey and Silk initiative will combine the individual expertise and capabilities of icipe and The MasterCard Foundation. icipe has over 20 years of experience in implementing beekeeping and silk farming enterprises, including in Ethiopia's Tigray, Oromia and Southern Nations, Nationalities and Peoples regions. Since 2010, The MasterCard Foundation has committed more than US$31 million in financial inclusion, youth employment and education initiatives in Ethiopia.
• Project Partners: Ministry of Women, Children and Youth Affairs; Ministry of Agriculture; Livestock State Ministry and Cooperative Agency; Holeta Beekeeping Research Centre; Amhara Credit and Savings Institution; Omo Microfinance Institution (OMO) and Bere Sericulture Production PLC.
• Project Contacts: Prof Suresh Raina, firstname.lastname@example.org, Head, icipe Beneficial and Commercial Insects; Dr. Tadele Tefera (email@example.com), Country Head, icipe Ethiopia Office
• Gabrielle Morrison (Gmorrison@icipe.org), Liz Ng'ang'a (firstname.lastname@example.org), Communications Unit, Tel +254 (0) 8632000
The MasterCard Foundation works with visionary organisations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Africa. As one of the largest, independent foundations, its work is guided by its mission to advance learning and promote financial inclusion to alleviate poverty. Based in Toronto, Canada, its independence was established by MasterCard when the Foundation was created in 2006. For more information and to sign up for the Foundation's newsletter please visit www.mastercardfdn.org. Follow the Foundation at @MCFoundation on Twitter.
The International Centre of Insect Physiology and Ecology (www.icipe.org), is a world-class research centre whose mission is to contribute towards poverty reduction, food security, better health and environmental protection across the developing world, by enhancing the capacity of researchers and communities to produce and utilise insect sciences. icipe is headquartered in Nairobi, Kenya, with a country office in Ethiopia and several field stations in Kenya. The Centre currently has operations in 30 African countries, and thriving partnerships with universities and research organisations across the world.
A photo accompanying this release is available at:
Source:The Mastercard Foundation