New Equipment Spurs Innovation for Ethiopia’s Livestock Sector
USAID, through its Livestock Market Development project, awarded equipment grants for eight businesses operating in the Amhara, Oromia and SNNP regions. The grantees come from diversified areas of the livestock sector including artificial insemination, dairy and feed production, and meat processing. These eight grants, funded by the U.S. Government’s Feed the Future initiative, will encourage local Ethiopian investment and innovation in the livestock sector.
As in many countries, one of the critical constraints for Ethiopian businesses to grow and develop is the lack of capital and finance, especially for businesses with innovative ideas. These businesses often lack collateral and their innovative ideas are viewed as risky. Businesses in Ethiopia’s livestock sector face even greater challenges due to the banking industry’s unfamiliarity with lending to the livestock sector.
The new equipment included mobile abattoirs, trucks, cream makers, and chilling machines, valued at $336,000. Read more