Ethiopia and Saudi Arabia have signed a new partnership aimed at expanding opportunities for small and medium enterprises (SMEs) and startups, with a focus on empowering youth-led innovation and cross-border collaboration.

The Ethiopian Youth Entrepreneurs Association (EYEA) and Saudi Arabia’s Small and Medium Enterprises General Authority, Monsha’at, formalised the agreement. The partnership seeks to strengthen cooperation between Ethiopian and Saudi entrepreneurs through technology and knowledge transfer, startup matchmaking, and capacity-building programmes. It also aims to facilitate access to regional markets and promote financing models that support sustainable and inclusive growth.

The agreement was signed by Samiya Abdulkadir Godu, president of EYEA, and Abdulmohsen AlSalem, General Manager of Partnerships at Monsha’at. The signing ceremony was witnessed by Ethiopia’s Ambassador to Saudi Arabia, Muktar Kedir Abdu (PhD), and Monsha’at Governor, Sami Al Hussaini.

Monsha’at said the collaboration aligns with Saudi Vision 2030, which emphasises global partnerships to strengthen SME ecosystems and accelerate private sector growth. EYEA officials noted that the initiative will help Ethiopian entrepreneurs access new networks, learn from Saudi experience, and explore investment opportunities across the Gulf region.