Pizza Hut ready for business
Ethiopia is set to have its first Pizza Hut.
Almost a year after announcing its entrance in the Ethiopian market and missing its target opening of last November, the first restaurant is set to open on Tuesday inside the NOC building in the CMC area, followed by a satellite restaurant at the Morning Star mall, behind Edna Mall.
A partnership between Belayab Foods and Yum Brands!, this is the first time a brand name American fast food chain is putting its mark in the capital. The latter is also partnering with the owners of Kalids Coffee to open a number of KFC restaurants later on this year.
Yum brands has been in the lookout for local partners for a number of years as it saw its sales decline in North America and Europe as the prosperous population have become health conscious. A number of fast food chains continue to see the African market as their next frontier. Ethiopia, with a fast growing population with an expanding cheap labor and law regulations and a middle class with spending power has been a target of a number of multinationals from abroad.
The local partnership is valued at more than USD five million and plans to open as much as 10 Pizza Hut branches in the capital within few years.
The brand is already operational in a number of nations within the continent and plans to expand its operations rapidly. Most of its operations are located in South Africa.
The partnership is as a result of an effort by the American embassy in the capital to have local investors partner with American multinationals and open shop within Africa’s second populous nation.
The Belayab brand operates boutique hotels, car assembly and dealership and is an agent of the Ethiopian Shipping and Logistics Services Enterprise in China.