African Economic Development Solutions (AEDS) emerged out of a small group of immigrants who were concerned about the decline of businesses in Oromo, Ethiopian, and Eritrean communities (OE&E). The mission of AEDS is to support wealth creation within these communities.
Our organization began in response to a growing awareness of the barriers to economic opportunity many in our community faced. In the beginning, AEDS did not have enough capacity to provide the services our community was requesting, so local OE&E business owners provided financial and in kind support along with local economic development organizations. Today, we provide customized financial literacy training, micro-entrepreneurship training and coaching assistance for individuals and small businesses.
What was the project supported by Nexus?
Nexus Community Partners has supported the work of AEDS since 2010. Nexus’ grant helped build the capacity of AEDS, supported initiatives that built wealth in our communities, and helped build relationships with other organizations.
What were the outcomes of the project?
To date, we have helped 40 individuals/families start or expand their businesses. Because of our work, individuals and families were able to receive culturally specific services and access important resources. Our entrepreneurs have been building wealth not only for themselves, but also for members of the OE&E communities through job creation. The work of AEDS has changed how others perceive our communities.
What was Nexus’ value to the project?
Nexus understands asset building in immigrant communities. Their support of our work has been critical not only by providing financial resources, but also through strategic guidance and technical support to help us build capacity and connect to other resources. They are willing to invest in AEDS because they know the demand and need for culturally specific wealth building services is high. They didn’t wait to invest in us until we secured other funds nor did they require other resources as requirement to provide funding. They worked with us knowing that AEDS was a start-up organization and is the first of its kind in our communities.
What’s up next for AEDS?
AEDS has brought value to its communities and the nonprofit environment. The need for our services has increased over the years. Our entrepreneurs express their appreciation for our work and the impact it has in our communities. They particularly appreciate the cultural connections. Because of our strong relationships and trust in our communities, AEDS will continue to work in supporting wealth building strategies for years to come.