Addis Ababa, Ethiopia -Joseph Kibur, 42, an Ethiopian-born Canadian, had the idea of setting up an apartment building when he and his family visited for the Ethiopian Millennium after 25 years in Canada and started looking for a comfortable place to stay. The idea materialised and they opened the Millennium Apartment guest house doors in January 2013, located behind Millennium Hall in Bole District.
This is a business that is attracting a growing number of business people, seeking profit through renting furnished houses. There are 860 guest houses in Addis Abeba, according to data from the Addis Abeba City Trade & Industry Bureau (AACTIB).
It costs Joseph 46 million Br to start this business, he says: 34 million Br to erect the building and 12 million Br to furnish the rooms. The five-storey building with 18 luxury rooms was furnished using local products, which saved both time and money, Joseph said, whilst comparing it to his experience of setting up the YaYa Africa Athletics Village â€“ furnished with imported materials. This village, which he established with a partner, comprises of a running track, beach volleyball court, 30 rooms for lodging, a cafe on a terrace, a restaurant, bars and a playground for children.
Read more at: Addis Tribune