Mistr Team in Addis. Week 3 Update!

Our team is learning more every day; here are our main takeaways from last week (Week 3)!

We cannot stress this enough; there is such a significant void in information. The majority of last week was spent calling people, driving around, and visiting multiple offices to get the answers that we need. On top of that, the Ethiopian business climate requires a lot of face-to-face communications, i.e. vendors will ask you to come in rather than answering your query. There is a significant preference to interact and meet before pushing a deal forward; this is likely due to Ethiopia's collective culture.

The hidden gem in need for closer communication in business is that individuals become more invested in your idea. Due to Mistr Ethiopia's dedication to positive contributions towards social and economic empowerment, we find many individuals are engaged with our mission and go out of their way to help us with our current issues. The majority of individuals here welcome diasporas and foreign nations who bring with them experience and industry knowledge. There is a strong belief in the transfer of knowledge and an understanding of the synergic benefit of foreign investment.

Lastly, some undoubtedly may be curious about Amharic's importance in the business environment. You can live and work here successfully without Amaharic knowledge, but life would be much easier if you could speak Amharic (or any other dominant Ethiopian language). We have encountered many Ethiopians who speak multiple languages, including German, Italian, French, English, Russian, and Mandarin. Still, these individuals rarely work in public offices and often charge a fee for their services. Documents and the likes are usually presented in Amharic to public offices but can still be submitted in English or Amharic to private offices, such as banks.

Stay tuned for next week's update. We hope you are enjoying these posts!

If you have any questions or helpful tips, send us an email: info@mistr.shop.

 

Disclaimer: This blog is written as an entertainment piece and is in no way meant to be investment or business advice. We urge that you base business decisions on your research and knowledge. We strongly recommend contacting the appropriate office for information regarding business in Ethiopia.