Tag: Coffee

Maintaining declining trends of performances, in the first half of Ethiopian fiscal year (EFY), the commodity exports fetched USD 1.35 billion missing its target revenue of USD 2.24 billion for the period.

The company behind Kaldi’s, Ethiopia’s most recognized coffee shop brand, is set to launch the Kentucky Fried Chicken (KFC) franchise in Ethiopia within a year, The Reporter has learnt. Owned by one-time Ethiopian model, Tseday Asrat and Ethiopian Airlines captain, Elias Ketema, KFC Ethiopia is to complement the brands owned by the duo, including Lori-Agro-Industry and Gusto Restaurant, the latter being one of the few fine Italian dining spots in the capital.

As Ethiopia’s coffee export grows to the tune of over USD one billion, according to the Ethiopian Coffee and Tea Development and Marketing Authority, Ethiopian coffees have once again dominated the Good Food Awards this year as the world’s best coffee. All the coffees named as such hail from Ethiopia.

Having secured a record revenue of USD 882 million last Ethiopian fiscal year, revenue generated from the export of coffee during the first six months of the current fiscal year has regressed to only USD 382 million, USD 54 million shy of the target set – USD 436 million.

To increase number of hotels to 20 in five years Haile Gebreselassie, renowned athlete turned businessman, is building a four-star resort hotel in Arba Minch town, Southern Regional State at a cost of 250 million birr.