ADDIS ABABA, April 25 U.S. fast-food giant Yum
Brands Inc. has signed a deal with Ethiopia's Belayab
Foods and Franchise PLC to open 10 Pizza Hut restaurants in the
Horn of Africa country as part of an expansion on the continent.
Pizza Hut will be the first major restaurant franchise to
open an outlet in Ethiopia, Africa's second most-populous
nation, which has become one of its fastest-growing economies.
"We will start off with three outlets first in six months
time and open 10 stores within the next three years," Michael
Ghebru, a shareholder of the project, told Reuters.
Kentucky-based Yum, which is also the parent of the KFC and
Taco Bell chains, is no stranger to emerging markets with more
than 1,000 restaurants in Africa. Its Pizza Hut franchise has
188 branches across the continent.
"Let's be prudent because in Africa there may be some levels
of instability and also when you are opening some routes that
take time," Ewan Davenport, General Manager of Pizza Hut Africa,
"But the sky is the limit. At the moment, we are looking at
(opening) at least 50 stores a year."
Western retailers are increasingly targeting Africa, which
is home to rising consumer spending and some of the world's
fastest growing economies, albeit off a low base.
(Reporting by Aaron Maasho; Editing by Alexander Smith)