Pace Ethiopia: Gaining a Foothold in the Global Footwear Industry

THE JEROME CHAZEN CASE SERIES Richard Siegel, founder of Pace Ethiopia LLC, was looking for $3 million from private investors to fund the organization's efforts to facilitate the construction of an export footwear production infrastructure in Ethiopia. To date, no US company had been willing to invest directly in manufacturing facilities in Ethiopia, with Chinese companies seemingly willing to take on the risk. One of the biggest hindrances to investment—and growth—had been the lack of trained personnel. In this case, students are presented with background information on the shoe manufactory industry, Ethiopia's political and economic environment and the challenges to doing business in this developing nation and asked what Siegel should do to attract investors.