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Checking in on the Accelerating Business Growth Project
- 500 SMEs trained on finance within the PE500 program
- An annual sales growth rate increase of 10% achieved by companies who participate in The Exec’s Program
- Ongoing technical assistance provided to 50 companies (SMEs) and 20 resource providers in Ethiopia
- Impact Angel Network (IAN) grown to 175 individuals and families
- 314 business owners have been trained on private equity under the PE500 program.
- Provided legal support and closed investments in two SMEs: one in a logistics company (Roadrunner Technology Solutions LLC) and one in a global restaurant brand (FC Specialty Restaurant PLC).
- Graduated the first cohort of the The Exec’s Program, and launched the second cohort with a total of 17 executives enrolled, representing 14 SMEs of which nine are women-led.
- Graduated cohort one of the CFO100 program, and launched the second cohort with a total of 33 finance professionals enrolled, representing 33 SMEs from which 10 are women.
- Grew the Impact Angel Network (IAN) by 36 members.
- Helped accelerator companies attract more than 10M CAD of financing from private sources.
- Provided on-going business growth support and technical assistance (TA) for companies that are supporting 3,021 jobs in Ethiopia, 57% of which are held by women.
- Launched Chigign ‘Tobiya, in partnership with Tonetor Multimedia, aimed at raising awareness and building interest in entrepreneurship locally in Ethiopia. The TV series is broadcast on national television (FANA TV), and involves entrepreneurs looking to raise capital by pitching their ideas to a panel including RENEW and three other local angel investors.
- Launched the ‘The Women in Finance Series’ aimed at empowering and inspiring women finance professionals in Ethiopia. Held two sessions; one in November 2017, in partnership with Zemen Bank with the theme "How to communicate and influence decision making" and the second edition with Enat Bank in March 2018.
- Analyzed the ABG’s 2017 Exec’s Program results against the Global Accelerator Learning Initiative (GALI) survey showing companies that have gone through the Exec’s Program are outperforming the benchmarks in the following areas: job growth, job creation, revenue growth, and capital securing.