Lamudi says Nigeria & Ethiopia Provide Unique Business Opportunities

Unprecedented growth rate in emerging markets have shifted focus away from world economic giants who have been shunted by economic crisis slowing growth in the BRICs (Brazil, Russia, India and China). Global businesses’ loyalty lie where there are opportunities for business growth; this they have found in some emerging markets.

Strong growth amidst difficult economic circumstance throughout the world, which many countries in the West have given in to, makes the potentials of four countries undeniable. They are called PINE (Philippines, Indonesia, Nigeria and Ethiopia), and the world is turning the spotlight on them as the new economic powers.

East African country, Ethiopia is one of the fastest growing of the PINE, with GDP growth of 7 percent last year. In a similar fashion, Nigeria has been excelling, recording a GDP growth of 6.3 percent in 2013 despite several allegations of embezzlement and cases of unremitted funds. The growth is expected to continue growing at over 6.9 percent in 2014. These levels of GDP growths are stronger than that of Russia which expects economic growth of 2 percent in 2014; India, expecting 5.4 percent, and Brazil which expects 2.3 percent.

African emerging markets have experienced massive growth fueled by attractive exports and improved business atmosphere and global businesses are exploiting the opportunities in these markets.  Leading online real estate marketplace, Lamudi is one of such global enterprise to leverage on the budding sectors of the markets.

“In our experience, both Ethiopia and the Nigeria are not only great places but exciting places to do business. We are looking forward to a very bright future in these locations and are convinced that the PINE markets offer the major business opportunity of the next decade,” says Paul Philipp Hermann, Co-Founder at Lamudi.

The company which sells and buys property online chose the web for its business because “traditional methods such as checking the newspaper and word of mouth are becoming non-existent”.  Lamudi promises to continue supporting the online shift throughout the PINE countries as it expands its business. It currently operates in 11 African countries.  Emerging African and Asian markets are expected to build on the successes achieved even when least expected to grow their economies as global businesses jump at the opportunities presented by the markets.

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