On March 29, the Hub and Open Capital Advisers (OCA) held a launch in Ethiopia for their two-year project designed to increase regional exports and investments through tailored business support. The OCA/Hub “Tailored Business Support Program” supports SMEs to become more investment- and export-ready. The entrepreneurs who have participated in the launches in Uganda, Tanzania, Rwanda and Ethiopia have welcomed the initiative and the approach of offering business support customized to their individual businesses.
"This is what we have been missing. We are eager and ready to grow but need support and guidance from experts. This is important to us since Ethiopia is not very open. We really hope to qualify for this program" - Semhal Guesh, Director, Armies Leather
In Ethiopia the Hub and OCA met with representatives from USAID Ethiopia, United States Department of Trade, Ethiopian Investments Commission and representatives from small and medium-sized enterprises to assess their suitability for the program.
"Open Capital's new partnership with the Hub affords us a unique opportunity to focus our pre-investment support services on export businesses that hold tremendous potential for a region endowed with abundant natural resources; in particular, Ethiopia seems to have a burgeoning SME community in horticulture, textiles, leather, and crafts products." Holden Bonwit, Project Leader at Open Capital Advisors.