Addis Ababa, November 7, 2025 (FMC) – Ethiopia and Saudi Arabia have taken a major step to boost entrepreneurship and innovation through a strategic partnership between the Ethiopian Youth Entrepreneurs Association (EYEA) and the Small and Medium Enterprises General Authority of Saudi Arabia (Monsha’at).
The agreement was formalized during the BIBAN 2025 forum, held from November 5–8 at the Riyadh Front Exhibition and Convention Center under the theme “A Global Destination for Opportunities.”
The partnership aims to strengthen collaboration between African, particularly Ethiopian, and Saudi entrepreneurs by promoting knowledge and technology transfer, co-founder and startup matchmaking, capacity building, and cross-border market access.
It will also accelerate youth-led innovation, promote interest-free financing models where applicable, and support sustainable entrepreneurial ecosystems that empower young people to create jobs, drive inclusive growth, and contribute to long-term development goals in both regions.
The signing ceremony was attended by Ethiopia’s Ambassador to Saudi Arabia, Muktar Kedir Abdu, and the Governor of Monsha’at, Sami Ibrahim Alhussaini.
The agreement was signed on behalf of Monsha’at by Abdulmohsen Salem H. Alsalem, General Manager of Partnerships, and on behalf of EYEA by Samiya Abdulkadir Godu, President of the association.
Through this collaboration, Monsha’at reaffirmed its commitment to enabling entrepreneurs to leverage international best practices, enhance cooperation with global entrepreneurial organizations, and build an integrated business environment that fosters growth and sustainability for SMEs.
The initiative aligns with Saudi Vision 2030, supporting the expansion of regional and global market opportunities for innovative startups.