2merkato

Pizza Hut, a division of Yum! Brands Inc. (NYSE: YUM), entered the African market in September 2014 by opening its first store in South Africa. The Pizza Hut Africa team, gathered today in Addis Ababa with its new franchise partner, Aschalew Belay, to celebrate the future entry of the Pizza Hut brand in Ethiopia. Pizza Hut and Mr. Belay plan to introduce Ethiopians to the Pizza Hut brand within the next 6 months. Pizza Hut is the world’s largest pizza chain with more than 16,000 restaurants in over 100 countries worldwide.

The plan to build an abattoir facility in the Hanna Mariam area has been abandoned by the Addis Ababa Abattoirs Enterprise (AAAE) and the construction is going to move two kilometers away from the original location.

Jourilabs Diagnostic Manufacturing Plant, an Ethiopian subsidiary of Amshaj Manufacturing Plc, was inaugurated on Firday, August, 8, 2014. The plant was built at the cost of 8 Million Birr and set to produce 20 types of diagnostics reagents.

Ethiopian Prime Minister Abiy Ahmed (PhD) launched a national initiative to improve Ethiopia’s investment climate. The office of the prime minister has stated that “the initiative is an integral part of Ethiopia’s Action Plan for Jobs.”

A policy to open up the banking sector to foreign investment was approved by the Council of Ministers on Saturday. The Council approved to increase the competitiveness, effectiveness, and efficiency of the financial sector. It is expected that the decision will facilitate the supply of foreign currency and increase job opportunities.