Market Research in Ethiopia
Ethiopia has a mixed market with a vast public sector, therefore, it is moving toward a market economy and is privatizing several of its state-owned enterprises. Government-owned companies dominate the telecommunication, banking, and transportation sectors of the economy.
Ethiopia produces the highest amount of coffee on the continent of Africa. The country has a large number of cattle, as a result, they’re in fifth place for cattle inventory. Their other exported goods are leather products, khat, oilseeds, and gold. Ethiopia has recently developed its floriculture sector and may soon be at the top for plant and flower exporters worldwide.
The largest and capital city of Ethiopia is Addis Ababa and it is on a terrain plateau surrounded by mountains. Addis Ababa is in the geographical center of the country.
Addis Ababa has been the capital of Ethiopia since the late 19th century. During the first few years, it seemed to be more like a military camp than a city. The emperor’s palace was the main focus; there was but an army guarding the palace. The population has grown since then. The city is beautiful with the unique feature of eucalyptus trees imported from Australia dotting the cityscape.
Trends, Consumer Base in Ethiopia
In recent years, the bilateral trade between Ethiopia and China has increased, as a result, Ethiopia is one of the fastest-growing African countries. Its trade with China has shown rapid and sustained growth. There have been lots of exports from China to Ethiopia.
Another trend is in the light industry, textiles, and apparel products, as a result, these products have a large share of middle and low-end markets in Ethiopia.
There has been a sharp increase in the purchase of consumer goods such as home appliances, electronic machines, and high-tech products.
Ethiopia’s main sports are soccer and athletics (especially long-distance running).
Cuisine in Ethiopia
The most well-known Ethiopian dish is injera and Ethiopians serve this large sourdough flatbread with various types of thick meat stews. They also eat it with vegetable side dishes. Many Ethiopians don’t bother with utensils, for example, they pick up their food with injera. In Ethiopia, it is common to eat with a group of people. There would be a plate in the center of the table for everyone to share. It is also a common practice to transfer food to others in the group with your own hands. This tradition is the “gursha.”
Strengths in the Market
- Fantastic performance in growth and poverty reduction
- Big Market
- Public investment in infrastructure development
- Aviation hub
- Hydropower, mining (phosphate, hydrocarbons), and tourism possibilities
Reasons to grow your business in Ethiopia.
- Its location between Asia and Europe gives an advantage so due to this location, Ethiopia has become a manufacturing destination. It is doing very well in the ready-made garment (RMG) sector.
- Total and partial privatization of state companies
- Introduction and implementation of local economic reforms
- Liberalization of the aviation, logistics, and telecommunications industries
About Market Research in Ethiopia
Are you looking to start a business? Does Ethiopia sound like the ideal spot? If so, this article is for you. SIS prepares Focus Groups for commercial enterprises in Africa. We can carry out Quantitative, Qualitative, and Strategic Research for your company, which will allow you to choose the best industry to start your business. SIS can also accumulate essential records for you and your business to ensure its success.
We hope that this article offers you the guidance you need for monetary gain in Ethiopia.