Kenyans encouraged to set up businesses in Ethiopia’s lucrative market

Industrialist Manu Chandaria urged Kenyan businesses to venture into the Ethiopian market in order to reap big from one of the fastest growing economy globally.

“Ethiopia with a population of more than 90 million people offers a huge market for Kenyan business. Its economy is among the fastest growing in the world — growing at 10 percent. Its market is like Kenya and Tanzania population combined,” he said at the Fifth Ideal Expo at Village Market recently.

“This comes in the wake of increased cooperation between Kenya and Ethiopia on trader, investment and infrastructural frontier. Kenya is building a major highway and railway from the port of Lamu, in the Indian Ocean under Lamu Port-Southern Sudan-Ethiopia Transport (Lapsset) project to Ethiopia,” reports The Standard.

Kenya is also pushing to have local banks invest the country. Real Wealth Ltd Chief Executive Officer Humphrey Odhiambo urged Kenyan interiors to also consider Uganda, Tanzania, Burundi, Rwanda, South Sudan, and countries such as Mozambique, Zambia and Namibia. “We need to sustain this momentum by supporting every effort needed to take this platform to greater heights. The pace set by your displays means Kenya has not only become a hub for business but an important hub in the region. We can raise it further to correspond to international standards,” he said.

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