Investment

Little Cab Officially Launches Operations In Addis Ababa, Ethiopia

BY Lynnet Okumu · February 9, 2022 09:02 am

KEY POINTS

The company said its expansion into the most populous African country, Ethiopia was slowed down due to the Covid-19 pandemic but went ahead to disclose that it would invest $5 million in the Ethiopian market for the next five years

KEY TAKEAWAYS

With over 112 million inhabitants, Ethiopia is emerging as a favorite investment destination for Kenyan companies seeking to expand their roots in the East African market.

Kenya’s ride-hailing company and Safaricom-led consortium, Little Cab, has officially launched its operations in Addis Ababa, Ethiopia after its initial plans were suspended due to Covid-19.

“LittleApp is happy to announce that we are now fully operational in Addis Ababa, Ethiopia. Thanks to our team in Ethiopia to be the driving force behind the success of Little…” LittleApp Chief Operating Officer Niladri Roy announced on LinkedIn.

The license will allow Kenya’s largest telco to operate in Ethiopia, opening the market to international investors for the first time.

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In June 2021, the company said its expansion into the most populous African country, Ethiopia was slowed down due to the Covid-19 pandemic but went ahead to disclose that it would invest $5 million in the Ethiopian market for the next five years with a provision to inject an extra $5 million based on the growth projections.

The then Chief Executive Officer of Little, Kamal Budhabhatti stated that they were confident of success in Ethiopia since it has a very large market capable of bringing a wealth of local and cultural knowledge.

With over 112 million inhabitants, Ethiopia is emerging as a favorite investment destination for Kenyan companies seeking to expand their roots in the East African market.