Business plan competition empowers refugees and host communities in Ethiopia's Somali region

Jijiga, Ethiopia (ILO News) – The groundbreaking Business Plan Competition (BPC) has concluded, selecting and awarding 50 best business ideas to empower aspiring entrepreneurs among refugees and host communities in the Somali Region of Ethiopia. The initiative, spearheaded by the International Labour Organization (ILO) through its PROSPECTS program in partnership with HASI Consulting, aims to foster entrepreneurship, boost economic growth and create sustainable livelihoods among host communities and refugees in the Somali Region of Ethiopia.

Launched in June 2023, the BPC attracted significant interest and received a staggering number of 1,931 proposals from young aspiring entrepreneurs across a range of sectors. Through a rigorous evaluation process, the 100 most promising business plans were selected as winners for the first round, and their creators underwent intensive training and mentoring by members of the Ethiopian Business Development Service Providers Association (BDSPA). This crucial step enabled BPC participants to acquire the skills necessary to refine their business ideas, develop comprehensive business plans, and strengthen their entrepreneurial capabilities.

Following the training, the BPC culminated with a high-stakes presentation event. The winners of the first round presented polished business plans to a panel of judges and industry experts, demonstrating the feasibility and potential of their ventures. Fifty outstanding companies will be selected to receive grant funding to launch or expand their ventures, as well as ongoing business coaching and mentoring to ensure the ventures' long-term sustainability.

Quote:

• “BPC has played a pivotal role in fostering entrepreneurship, promoting innovation and stimulating economic growth,” said Stephen Opio, chief technical advisor for the International Labor Organization's PROPSECTS program in Ethiopia. “By empowering individuals to turn their ideas into successful, sustainable businesses, the initiative has the power to spread entrepreneurship to the communities they are part of.”
• “This initiative is helping to foster a vibrant entrepreneurial ecosystem in the Fafan district of the Somali Region,” said Tiesto Sondahl, Deputy Director of Cooperation and Regional Refugee and Migrant Coordinator at the Netherlands Embassy. “This approach goes beyond just building businesses. It's about helping forcibly displaced people and their hosts become self-reliant and contribute to their communities. By providing them with the skills and resources they need, we are empowering them to build a brighter future.”
• “The success of the business plan competition is a testament to the power of collaboration. By working with the ILO PROSPECTS programme, HASI Consulting, the regional office and the local community in the Fafan region, we have fostered an environment in which innovative ideas can flourish,” said Dr. Abdirahman Ali Hirsi“This public-private partnership will empower aspiring entrepreneurs, strengthen local economies and create a lasting impact for both refugees and host communities,” said the CEO of HASI Consulting.

The BPC is being implemented in close collaboration with the National Association of Business Development Service Providers and the Ethiopian Refugee Returnee Services (RRS). Somali Regional Skills and Job Creation Agency and Financial Services Provider.