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More foreign companies are seeking business with Eritrea


With South African Breweries likely to enter the brewery and beverage markets in Eritrea, local companies will face a healthy competition

More foreign companies are seeking business with Eritrea

It seems the number of foreign companies seeking to do business in Eritrea have been picking up of late. With the government earning a reputation of being nearly "corruption-less" by Western investors, foreign businesses are finding Eritrea to be a safe and profitable investment opportunity in the region.

This week alone, we learned of three major foreign companies are seeking to do business with Eritrea:

1) South African Breweries is currently in negotiating to invest in the breweries and beverages sector in Eritrea. If they reach an agreement, this will create a number of jobs and bring in hard currency. Over the last few years, trade between the two states has been on the rise, thanks in large part to SA's pragmatic approach.

2) Yemeni Airways is reportedly going to commence two weekly flights from Rome (Fiumicino Airport) to Asmara International Airport, Eritrea starting 21 December. This is important because Yemeni Airways tends to offer some of the cheapest flights to Eritrea.

3) Similarly, Simon Teklesenbet, an official working with the Eritrean Embassy in Qatar, announced Qatar Airways is planing to begin flights to Eritrea. A quick search of their site shows the Doha-based airliner seems to have already hired cabin crew for future flights to Eritrea.

While this list may seem underwhelming for some, it's important to note that Eritrea is still a developing country. Even if Eritrea maintains its impressive GDP growth of 8-10% for the next two decades —  which most indications show it will —  the country will still be behind developed countries in the West, albeit, not too far behind. That being said, you can really start to see the economy gaining momentum of late. As Professor Iqbal Jhazbhay, South Africa's Ambassador to Eritrea put it:
"Based on my experience thus far in Eritrea, the long road to development has just taken off, but with the key firmly in the ignition."

On that note, it's only fitting to end this post with the South African song, "umqombothi" (African beer).



Asmara Brewery, which went private last year, will likely face competition from South African Breweries. 
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More foreign companies are seeking business with Eritrea Reviewed by Admin on 8:05 AM Rating: 5

11 comments:

  1. I hope those plans are not written by pencil :)

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  2. This is a joke right?

    More foreign companies want to do business and best you can come up with are airlines? These will result in how much job creation? What happened to Eritrean Airlines?


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  3. Hi Boby Bereket.

    This is a list of foreign companies who have stated. If I made a list comprising of all the foreign companies investing in Eritrea for this year, it will obviously be a lot longer and more comprehensive (not to mention, time consuming!). Keep in mind, I purposely excluded Eritreans who are increasingly investing in Eritrea, too.

    If time permits, I'll make a list of all the foreign companies investing in Eritrea for 2013. But for now, this is a list of foreign companies from this week only.

    In regards to Eritrean Airlines, I believe it's reassessing its strategy, and will be back flying again. Aside from four African countries, most African airliners struggle to make a profit. You can read more about it here: http://www.ainonline.com/aviation-news/dubai-air-show/2013-11-15/african-airlines-struggle-governments-airports-welcome-worlds-airlines#.UohqU9b-Kbo.twitter

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  4. lol..hahaha

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  5. so IA was wrong in September, 2 months ago, when he said that his administration is in "crisis management" mode?

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  6. The advert on Qatar Airways expired FEB 2013 !!!

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  7. Haaaaaa Lol really lol no words expression what you doing in Eritr ea pls don't cheating your ppl we Eritrean boring and tired about our stupid governor PFDJ

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  8. Hey Madote, if you're wondering why there are lots of hateful comments on your website of late, it's because the so-called opposition is targeting your site. I caught them on their FB page saying this. If I were you, I'd just delete their verbal diarrhea because these people are not genuine with their criticism.These are people who want to turn Eritrea into an Ethiopian province.

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  9. Are you crazy dude, what is the use of launching a website if it doesn't entertain criticism and different views. You guys please help yourself by taking 101 course in understanding issues considered to be critical and valid argumentative thoughts. Talking about the FB pages and individuals who criticize mandote, that doesn't make you smarter and you must be stupid to think anyone is planning to see Eritrea as an Ethiopian province. Shut your big mouth and do something to free your people from the tortures of HGDF.

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  10. where is the promises that has been made by the president. where is the new infrastructures such as roads, ring roads, increasing asmara and massawa airport, increasing army wages, and the biggest issue is where is all the profits that has been made from the mining,, no body knows.....

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  11. I hope i will see Eritrea developed and the people happy.. love my country.

    ReplyDelete

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