Chain Coffeehouse Expands to Middle East


Chain Coffeehouse Expands to Middle East

Kaldis Coffee, a chain coffeehouse headquartered in Addis Abeba, stretches its presence to the Middle East making its official debut in Dubai, UAE three weeks ago. The Cafe was opened with 200,000 dollars of initial capital, and close to 10 employees. The founder Tsedey Asrat said the international community gets to enjoy the aesthetics of Ethiopian coffee through Kaldis. She plans to open more branches in Dubai in the next few years while Tihtina Ayele, a former employee has been promoted to manage the local branches. "The western countries are my next targets," Tsedey told Fortune. Kaldis made its first appearance around Bole Medhanealem (Namibia Street) in 2008. It has managed to expand to 40 branches including Adama and Bishoftu towns with 2,000 employees under its fleet. The company has also been exporting raw coffee to Dubai through the Ethiopian Commodity Exchange.

[ssba-buttons]

Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...