Ethiopian business opportunities can seem daunting due to the country’s expanding economic scene and the fact that the country has many sectors that are largely undeveloped.
This opens up an opportunity for individuals that are actively enterprising and hoping to get a bigger piece of the pie that is Ethiopia’s growing economy.
There are no more excuses for those that want to change theirs and their family’s lives through engaging in business.
Especially, now with the new reforms taking place by Prime Minister Abiy Ahmed, who is tackling large corporations and opening up the door for small to medium traders, producers, and service sector players.
Hard work, dedication, and discipline are the only ingredients needed for an average Ethiopian to grow his income and live the life they deserve.
We created this list of 20 business opportunities we believe can be useful for those with huge financial backing or those with limited savings hoping to create a meaningful and profitable business in Ethiopia.
Building Management is a business that is also sometimes called facility management. The building management company is responsible for supervising the hard and soft services of a residential or commercial building.
Hard services relate to physical structural services such as the elevators/lifts, fire alarms, etc., while the soft services are cleaning, landscaping/gardening, security, and other human sourced services.
Today, Ethiopia has hundreds if not thousands of new buildings both residential and commercial. The need for building management services is booming. Example: Tsehay Real Estate in CMC which uses a building management service to take care of everything the residents need such as the cleaning (maids), security (security guards, cameras), water/electricity bills, gardening, etc. The Chinese have the responsibility to only sell and construct the apartments, while the day-to-day running of the building is left to the company they hired.
Residents currently pay about 1,000 ETB or 38 USD every month. With 13 buildings and 646 residential units, the company receives about 646,000 ETB or 24,000 USD a month.
The biggest challenge in this business for Ethiopia is to manage the resident’s expectations and match these up to the budget constraints and legal requirements.