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Zemen Bank S.C gave awards to the 10 winners of the Ethiopian Radio and Television (ERTA) program “Entrepreneurs Talent Show” at a ceremony it held at its Headquarter on December 20th.
The ERTA program “Entrepreneurs Talent Show” had seen about 698 budding entrepreneurs competing in the show, qualifying in four stages, with the final 10 winners each receiving 150,000 birr each, through the 15 months duration. The program was financed by a department of the Ministry of Industry (MoI) the Ethiopian Competitive Facility (ECF), with the original funding coming from the World Bank’s private financial arm the Intentional Financial Corporation (IFC) amounting to 2.5 million birr.
Out of 2.5 million birr, 1.5 million birr was distributed among the 10 winners, while the rest one million birr was used as an expense such as training programs, travel expenses, allowances for the winners and hotel accommodation.
According to Biruk Assefa Senior Business Development Officer at Zemen Bank the 10 winners were given gift cards by the bank each worth 5,000 birr, so they can open a special account at Zemen Bank. Gift cards issued by the bank range from the smallest 500 birr to the largest 5,000 birr.
He also said the bank will give two day finance training, and could take further steps to encourage the 10 entrepreneurs depending on the situation.
The 10 winners of the “Entrepreneurs Talent Show” were Ahmed Hassen for his coffee washing and processing machine, Aysheshim Tilahun for his Programmable Logic Control Weaving Machine, Mulunesh Alene for “Tella Powder”, Taye Berhanu for Semi-Automatic Weaving Machine, Israel Belema for Car Security Alarm, Biniyam Tesfaye for Solar Mobile Charger, Abdu Seid for his Integrated agricultural machine, Tibebe Solomon for Roof Tiles, Younus Mushega for Railway Sleeper Manufacturing and Roman Yilma for Mobile Veterinary.
The 10 winners have previously been awarded 10,000 birr each from the Ministry of Construction and Urban Development (MoCUD).
Younus Mushega one of the winners who work at the Ethiopian Railway Corporation (ERC) as a mechanical engineer told Capital that his work is a concrete sleeper manufacturing machine used below railway tracks.
“I believe this technology I designed can help save hard currency, in a sector which needs high investment” said Younus adding that the technology which took him two years to finish, could be constructed in a manufacturing plant that costs 500,000 birr.