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Discussion Starter · #1 · (Edited)
This young man have chosen to open an antique shop, very creative, innovative and niche. A lot of the young modern wealthy or middle classes , have developed the test for shabby chic decorative style, you see it in places like Garden of Coffee, Tomoca, Sishu Burger, and many other classy bars and eatery's and in works like designers such as Bethlehem Alemu, he will definitely do well.
 

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Discussion Starter · #3 ·
Small businesses matter too.

Only if we have our own high street retailer like Walmart or Tesco which will receive goods from local producers and retail it to consumers nationally.
 

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Discussion Starter · #4 ·
The Ethiopian multi-millionaire who built Africa's first Marriott Hotel


Addis Ababa, January 2, 2018 (FBC) - Apart from Saudi-Ethiopian billionaire Mohammed Al-Amoudi, Samuel Tafesse is arguably the most popular businessman of Ethiopian origin.


The 60-year-old real estate mogul is the founder of Sunshine Investment Group, a construction and development company that develops residential, leisure, and commercial properties in Ethiopia and the Middle East.

Since its founding in 1983, Sunshine Investment Group has built more than 5,000 residential and commercial properties in Ethiopia, including the first Marriott-branded property in Africa – the landmark Marriott Executive Apartments in Addis Ababa.

Sunshine is also a major contractor to the government and constructs and maintains thousands of miles of roadway across the country with every year.

With annual revenues of more than 100 million US dollars and a workforce of more than 2,000 people, Sunshine Investment Group is one of the largest indigenous companies in Ethiopia.

I recently caught up with Samuel Tafesse in Addis Ababa and had a brief chat where he recounted the early years and opened up on his plans for the future.

What was your childhood like?

I was born into a very poor family. I remember that my parents struggled to pay tuition for my siblings and I. As an older sibling, I decided to take up the responsibility of supporting my family at a rather young age.

At the age of 14, while still in High School, I took up a job as a parking attendant at the Addis Ababa Stadium and while working as an attendant, I used the opportunity to peddle everything from chewing gum and soda to cigarettes.

After completing high school, I worked for a small construction firm where I was involved in roof and painting maintenance for our clients. I went on to join Addis Ababa University at the age of 19 to study Engineering but I dropped out after 3 years in order to continue to support my family.

What was your first big break in business?

Because I had worked in the construction business, albeit in a small capacity, I had become fascinated by the industry, and I wanted a way in.

In order to have a construction license in 1986, one needed a minimum capital requirement of 10,000 Ethiopian birr which is roughly 365 US dollars today, but was worth a lot more in those days. I did not exactly have the money, so I borrowed from a friend and I registered Sunshine Construction Limited.

I subsequently started scouting for jobs and I landed a contract for a roof maintenance job at Wabe Shebelle Hotel. It was a decent job and yielded me quite a tidy sum.

In retrospect, that was my first big break in business with the success in getting that contract, I was bold enough to go to other hotels, commercial buildings and government organizations to get similar construction and maintenance contracts, and from there we snowballed into a full-fledged construction outfit and grew our capital base as we progressed.

Source: Forbes

 
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Discussion Starter · #5 ·

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mixed?! never knew that...looks more white than Ethiopian btw
that's why he speaks amharic so well...
good thing, he is not ashamed of his African roots. i know some mixed afro-white people and I'm appalled how awful they hide their black roots and never interact with them and proudly show show their ''white'' heritage.
glad that ethiopians have strong identity and culture.
 

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Ethiopian leading coffee chain Tomoca Coffee opens outlet in Kenya


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KENYA – Tomoca Coffee, one of the leading coffee brands in Ethiopia with a chain of coffee houses has entered the Kenyan market by opening an outlet in the country’s capital, Nairobi, indicated the company on a twitter post.

Tomoca Coffee is a family-owned coffee company based in Addis Ababa, Ethiopia and was established in February 1953. The company is known for its Italian-style coffee, made with Ethiopian Arabica beans.

It is also a member of the Ethiopia Commodity Exchange (ECX)] and it exports its coffee to Sweden, Germany, USA, Japan and other countries.

Being the first outlet by the leading coffee house outside its original country of Ethiopia, it is located at the Two Rivers Mall, where it is set to serve its unique Ethiopian coffees to discerning clientele from leading embassies and consulates, including the United Nations staff.

The new location is set to provide in-shop roasting and a packaging facility alongside a coffee drink service area spread over a footprint of 250Sqm, reports Addis Fortune.

The new coffee chain, which has taken on 20 Kenyan employees, will source its coffee beans from Ethiopia, Kenya and Rwanda, with a focus on single-origin blends of the house specialty.

The coffee shop, which will officially open its doors July 1st, will showcase Ethiopian products on its shelves such as honey, leather and textile products.

“Currently, we’re just having a soft opening for testing a few employees and handing out a visiting invitation,” said Wondwossen Z. Meshesha, chief global operations officer of Tomoca Coffee.

In addition to the newly opened outlet, Tomoca is set to open two additional Kenyan shops that will provide coffee drink services only. The new coffee shops, which will both have a size of 100Sqm, are currently under construction.

“Kenya has a very young and dynamic population with a wide consumer base that demands high-quality products and services. As part of the Common Market for Eastern and Southern Africa (COMESA) community, it is also a great benefit for us to venture out first within the East African community before elsewhere,” said Wondwossen.

Tomoca Coffee has chosen a joint partnership with a local investor for its new venture rather than the franchise model of expansion.

With a new strategy, the coffee chain plans to expand aggressively within the continent in the next 10 years, aiming at a minimum of 250 shops.

Currently, the coffee shop is setting up a new state-of-the-art coffee factory with an investment of US$10 million to pursue a value-added roasted coffee for the international market.

The new coffee factory, which is awaiting the installation of machinery after taking close to two years for construction, is expected to employ over 100 employees.

Tomaco enters the Kenyan market with already leading brands like Café Espresso, Café Arabika, Artcaffe, Java House, Gibsons Coffee House, South African coffee chain Mugg & Bean, among many others.

Kenya is a coffee growing country, exporting one of the best quality Arabica produce to the world with the sector contributing to the livelihoods of over 700,000 smallholder growers, according to the Coffee Directorate.

However, until recently, consumption of the drink was low with data from the Coffee Directorate showing local intake of the drink has risen exponentially in the last decade.

According to the directorate, local consumption stood at 8,498 60kg bags (509.90 metric tonnes) in 2009, rising over the years to stand at 12,405 bags (744 metric tonnes) in 2014 and in 2018 it topped 18,396 bags (1,103.76 metric tonnes).

Kenyans have certainly woken up and smelled the coffee, with citizens flocking coffee outlets in droves creating a fast-rising coffee drinking culture.

In Ethiopia, the home of Tomoca Coffee, the citizens are substantial drinkers of the beverage with almost half of the country’s production being locally consumed.

To this regard Ethiopia is the leading coffee consuming country in Africa and used as a model for other nations.

According to United States Department of Agriculture (USDA) report, Ethiopia’s coffee consumption in the year 2019/20 is forecasted at 3.35 million bags (approximately 201 metric tons) – an increase of 75,000 bags from the 2018/19 estimate.

The report has indicated that the government attempts to lower domestic coffee consumption in order to have more beans for export.

The main reasons for the consumption increase are exportable-grade coffee entering the informal domestic market to take advantage of strong local prices and the increase of small roadside coffee stalls in and around major towns as income generating schemes

These shops serve coffee in the traditional sit-down fashion and have become popular among consumers. But these informal stalls pay neither VAT nor exorbitant rental costs, making their cost of serving coffee relatively lower and more competitive than the regular coffee shops.
 

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Celebrating Ethiopian Women's Success in the Business world !

Samrawit Fikru, a former computer programmer and software developer, today a tech entrepreneur, founded RIDE at the age of 22.

At the age of 22, having identified the gap in the market, she took $2,000 of her own savings and started Hybrid Design, a software and applications developing company. Shortly after, the company introduced RIDE, a transport and booking platform in Ethiopia that is phone-based just like Uber. RIDE started as an SMS-focused request in 2014.

RIDE is now used by tens of thousands of users and has had 500,000 downloads on just the Google Play Store.

In November 2019, Samrawit met Twitter CEO Jack Dorsey who later Tweeted a photo of the two of them and tagged Elon Musk saying “She’d love to introduce Tesla to Ethiopia!”

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