The Ethiopian Chamber of Commerce and Sectorial Association (ECCSA) has launch business academy to help improve the business culture in the country by training youth and other members of the association on modern leadership and management skills, Ventures Africa reported.

The program dabbed “Chamber Academy” is in a partnership with the Center for International Private Enterprises (CIPE), a US based organization affiliated with US Chamber of Commerce.

“The opening of the Academy would stimulate the Ethiopian private sector,” World Bulletin quotes ECCSA’s President Mulu Solomon saying during the academy launch.

“It would be vital to bolster the capacity of the private sector through training for business people and staff of relevant organizations. The private sector in Ethiopia should extricate itself from traditional ways of thinking and practices and should be led by modern theories and practice of doing business,” she added.

In recent years Ethiopia, a non democratic east African Nation that has experienced increased economic growth despite being closed to foreign businesses, has been opening up its markets to outsiders and embracing a freer approach to doing business locally.

The business center aims to strengthen leadership and management skills of the ECCSA and member organizations, and building institution capacity. It will also help to enhance communication, cooperation and networking among business institutions, a statement published on the association website said.

Mulu implored the Ethiopian private sector to extricate itself from traditional ways of thinking and practices by adopting modern theories and practice of doing business.

Professor Mohammed Habib, a senior legal professional and instructor at the Addis Ababa University also told Anadolu Agency that international partnership would be vital to disseminate up-to-date business knowledge.

“The center of excellence just launched would stimulate the activities of the private sector and ensures its steady growth,” Habib said. “The Academy is topical in the Ethiopian context where the private sector has been growing as a major driving force of economic development and growth.”