(Apr 26, (Bloomberg))--Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country.
Ethiopia is an attractive destination because of its cheap labor and electricity, said Michael, who will run the franchise and initially hold a 15 percent stake. There are “no major” food franchises in Addis Ababa, making competition “non-existent,” he said.
Ethiopian openings are part of a wider expansion under which Pizza Hut plans to boost its number of sub-Saharan Africa outlets to 100 by end-2017 from about 70, according to the company’s incoming general manager for Africa, Ewan Davenport.
About half of Pizza Hut’s business on the continent is in South Africa, where it opened in 2015, with outlets in Angola and at Camp Lemonnier, a U.S. military base in Djibouti, the top performers elsewhere, he said in an interview. He didn’t give figures. Read the complete story at Bloomberg »
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The restaurants are scheduled to begin serving in the capital, Addis Ababa, by November, franchisee Aschalew Belay said in an interview Monday. Aschalew’s company, Belayab Foods and Franchise, will run the local outlets of the Yum! Brands Inc. pizzeria and will have invested $5.5 million in the operations by next year, according to his partner, Michael Ghebru. The agreement allows for as many as 10 outlets, he said.
Ethiopia is an attractive destination because of its cheap labor and electricity, said Michael, who will run the franchise and initially hold a 15 percent stake. There are “no major” food franchises in Addis Ababa, making competition “non-existent,” he said.
Ethiopian openings are part of a wider expansion under which Pizza Hut plans to boost its number of sub-Saharan Africa outlets to 100 by end-2017 from about 70, according to the company’s incoming general manager for Africa, Ewan Davenport.
About half of Pizza Hut’s business on the continent is in South Africa, where it opened in 2015, with outlets in Angola and at Camp Lemonnier, a U.S. military base in Djibouti, the top performers elsewhere, he said in an interview. He didn’t give figures. Read the complete story at Bloomberg »
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