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The Fourth Annual Impact Report

By Erin O'connor | Wed May 29 2019
RENEW announces the Impact Angel Network’s (IAN) 2018 Impact Report. This edition of RENEW’s Impact Report is entitled “A Journey of Impact” and for good reason. Yes, we will give you an overview of the impact of our entire portfolio, but in the report’s pages, we will also do a deep dive into one company, Desta PLC, a garments manufacturing facility. This edition explores various aspects of the impact of the company from the perspective of several stakeholders. Join us through the following pages as we hear stories from Laura Davis (partner at RENEW), Eyob Bekele (owner and general manager at Desta), Lulit Negash (RENEW’s portfolio manager for Desta), Beth Marquette (an Impact Angel Network investor), and Tadelech Buto (a Desta employee). Everyone’s story is different, but each individual plays a key role in the growth and impact of this company that is a leader in the fast-growing textile industry in Ethiopia.
With 11 investments in 10 companies as of the end of December 2018, RENEW and the IAN now support 2,193 jobs (71% are held by women) and 5,700 smallholder farmers.
Read our past Impact Reports:
Note: The information included in the Impact Report relating to the performance of Impact Angel Network (IAN) portfolio companies is preliminary and has not been audited. Information about any one company in the portfolio, such as Desta PLC, is provided as a recounting of the IAN’s interactions with one company its members have invested in and happenings at that company. Such information is not intended as performance data related to the IAN’s investment in the company described. Information about one or more IAN portfolio companies pertains only to the company/ies described and may not be indicative of other companies in the IAN’s portfolio or the performance of investments in them. Any discussion of the performance of companies or investments or their social impact is no guarantee that such performance or impact will be realized by other IAN portfolio companies or investments or in the future.
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact. For the latest on investing in Africa, subscribe and follow us at our social links below.

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