This podcast interview with Andrew Choubeta was eye-opening as he outlines the real estate portfolio he is building in Ethiopia. He talks about how he saw potential in Ethiopia as an investment opportunity, and how it has turned out to be very lucrative for those who have invested there.
Andrew is building a diversified portfolio between agricultural land, apartment blocks, and duplexes/triplexes. He mentions that leasing land is common in Ethiopia and other African countries, and can be for a significant period of time, which gives some reassurance to investors and that it is usually possible to renew the lease.
Some key takeaways include;
- The importance of learning the local language when investing in a new country
- Benefits of getting on the ground and experiencing things first-hand
- Networking and connecting with people in the country
- The importance of finding a business contact who can help with the nitty gritty details of investing in a new country.
Some people are choosing to invest in Ethiopia, despite the perception of the country being unstable and dangerous. They believe that Ethiopia is still a great investment, due to the low prices of properties and the increasing number of tourists.
The government is very welcoming to foreign investors and offers a number of benefits, including guaranteed loans. Additionally, the cost of living is very low and the laws surrounding property ownership and rentals are not as strict as they are in other countries, making it easier to invest in Ethiopia.
Because it’s getting harder and harder to find good investment opportunities locally many people are looking at other options outside of Canada. Andrew suggests that new investors look at Africa as a potential safe investment and that the biggest hurdle to overcome is the language and cultural barrier.
Contact Andrew Choubeta
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