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Rwandan Dreams of Creating ‘Starbucks of Africa’

Rwandan Dreams of Creating ‘Starbucks of Africa’

http://youtu.be/O_AJvVbpiX8

Jean-Philippe Kayobotsi, 38, had worked with politicians and corporate executives at Deloitte, African Development Bank and as an adviser to the president of Rwanda, but he left all that to open a bakery and coffee shop in Kigali, which he believe will grow to become the “Starbucks of Africa”, CNN.com reports.

Kayobotsi combined what he recognized as a gap in the market with his favorite kind of bread, and now he sells brioche with sugar, chocolate, raisins or just plain. He said he wanted to start a “boutique” bakery in Rwanda that would work in any country in the world.

“I decided to walk the talk instead of preaching for private sector development,” he told CNN. “I looked for an opportunity that both made business sense and would excite me.”

Rwanda — a landlocked east African country with a population of about 11-million — has made remarkable economic gains since genocide killed nearly a million people two decades ago. Its poverty rate has decreased from 78 percent in 1995 to less than 50 percent in 2012, World Bank reports. In 2012, its economy grew by 8 percent.

But Kayobotsi warns there are still challenges for entrepreneurs in Rwanda: because it is a landlocked country, transportation costs are high and electricity is expensive.