Ethiopia’s Belayab Foods and Franchise PLC has signed a deal with U.S. fast-food titan, Yum Brands Inc., to open 10 Pizza Hut restaurants in Ethiopia as part of its expansion strategy on the continent.
“We will start off with three outlets first in six month’s time and open 10 stores within the next three years,” Michael Ghebru, a shareholder of the project, told Reuters.
Yum Brands are based in Louisville, Kentucky with over 43,500 restaurants in more than 135 countries and territories and own the KFC, Pizza Hut and Taco Bell brands. They have over 1,000 restaurants in Africa, with the Pizza Hut franchise having 188 branches across the continent.
Ewan Davenport, General Manager of Pizza Hut Africa, remained cautious on Africa, saying:
“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;…But the sky is the limit. At the moment, we are looking at (opening) at least 50 stores a year.”