By Dawit Tadesse
Diversifying sources of revenue for Regional Flagship TVET institutes is important for their growth and ensuring financial financial sustainability. The traditional source of funding for TVET institutions in Ethiopia have been the government and through subventions and tuition/ non-tuition fees paid by parents and students. Revenue diversification embraces not only to internal income generation, but also to the number of income sources that provide the main funding.
Therefore, in a bid to expand its income sources beyond the funds from the government, the Management of the College has put in place a committee to identify new revenue streams for the College. The Committee is expected to consider a number of income sources including joint research, intellectual property sales of consultancies, sales of products, fundraising, corporate alliances donations, or any other external sources. The committee is already undergoing training on grant writing proposal at Ethiopia Management Institute, Addis Ababa.
After the training the college expect the team to work aggressively in boosting income generation to support the financial sustainability of our flagship TVET institution.
The Committee during training on proposal and grant writing at Ethiopia Management Institute