Local Business in EthiopiaAugust 23, 2016
Over the past decade, Ethiopia has witnessed drastic changes in the economy, and attracts investment from foreign investors and entrepreneurs doing local business in Ethiopia. The area experiences a marked development in all sectors, namely, trade, education, health care, and infrastructure.
While the Government officials claim that Ethiopia has a GDP growth of 11-12% over the past seven years, International monetary fund is of an opinion that the actual figures amounts to 5-7% increase (source: www.africa.com). Whatsoever, it is a fact that the economy has boomed, providing opportunities of employment, business and improved lifestyle.
Here we have listed few creative business ideas, for those who are looking to take the advantage of the economic boom:
Chips are in great demand, especially banana chips. People look for best quality banana chips, made of unripe bananas. Set up a unit, get the required license, hire a team that can make high quality banana chips in large quantity, and kick the business off.
Small diesel engines assembling :-
The expansion in economy increases the consumption of power, leading to the import of diesel engines in large quantity. Various parts of the diesel engines are produced by specialized manufacturers, and then assembled. The import of such diesel engines can be substituted by assembling them within the country. People who are interested in mechanics, can opt this as a business path.
Pen Refills :-Students are the primary consumers of ballpoint pens and refills. Millions of ball point pens are used by students every year, indicating the high business scope that it has.
While the scope of business is wide, these are few examples of how one can think out-of-the-box while planning a local business in Ethiopia. Now put your thinking hats on, and let ideas pour in.