<h1 style="text-align:center;">From Brazil to Ethiopia</h1>When you move to a country like Ethiopia, one of the first questions people ask is “where are you from?” and when I reply that I am from Brazil, I usually get a mixture of positive and curious reactions which allows me to engage with people and to start a conversation.In my pursuit to work closer to impact investments since I finished my master’s degree, I decided, together with my boyfriend, to look for opportunities in East Africa, in which both of us hoped to find experiences that would change our lives.<figure class="image"><img src="/uploads/renata_0_bbafde9618.jpg"></figure>Before we decided to move to Ethiopia, my boyfriend was already in country working for a mission, and on a short trip to Lalibela, he met with a young man named <a href="../2016/research-due-diligence-and-football.html">Sebastiaan Howle</a> who was finishing a summer internship at an impact investing firm based in Addis Ababa: RENEW.A few minutes later, my boyfriend sent me an e-mail to look into RENEW. That’s when it all started. I was back in Brazil, working for an accelerator for social impact businesses but I wanted to know more about this part of the world, experience the challenges and learn about doing business here. I found a lot on RENEW’s website, blog posts, podcasts, and the impact report, to understand more about the company, but mostly to learn about Ethiopia’s business environment.&nbsp;<figure class="image"><img src="/uploads/img_20170716_131928705_1_b91cbfa9e7.jpg"></figure>I was fascinated with the type of businesses that made up the portfolio companies. This was when I first read about a company exporting fresh injera to the U.S., for example. For most people in Brazil, and I would say even South America in general, this part of the world seems so distant, so different, but what I discovered is that there are a lot of lessons and experiences to be shared. Like Ethiopia, Brazil is also a country majorly focused on agribusiness, exporting coffee, a country of creative and entrepreneurial people, of family businesses developing into larger companies. In fact, I believe there are many lessons to be learned, and I recognize how my professional background coming from an emerging market helped me to navigate in the ecosystem here. But I’ve also learned so much with the entrepreneurs in Ethiopia, with their passion and persistence to achieve their vision, the commitment with employees and the community.&nbsp;I am glad that I pursued my goal to work with impact investing in Africa and I am lucky that a random encounter in Lalibela made me aware of RENEW.I will continue to follow my goals persistently and endure in the journey of achieving them and I hope to get a little bit of luck along the way too.

Renata’s journey to work with impact investing in Africa

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From Brazil to Ethiopia

<h1 style="text-align:center;">Sharks vs. Angels</h1>Yes, they may be angel investors, but things got heated up with some hard hitting questions when six companies stood before members of RENEW’s Impact Angel Network (IAN) to pitch investment opportunities in Ethiopia. The setting: our beautiful space, The Exchange, located above Galani Café in Jacros.<figure class="image"><img src="/uploads/2017_sept_ett_0_d41225dc83.jpg"></figure>Ten members of the Impact Angel Network traveled from their homes across the United States to Ethiopia from September 19-23, 2017 to decide firsthand their thoughts on investment opportunities and also visit with companies they had already invested in.The IAN is now one of the most active private equity investors in Ethiopia, and more than 75 investors have participated in the Econ-Tourism Trips in the last 5.5 years since RENEW opened an office in Addis Ababa. Each trip the companies toured and considered for investment are different and the Econ-Tourism Trip experience is unique and exciting in its own way, based on the interests and personalities of the investors and the trip’s agenda. Unique opportunities also help make the trip informative and enjoyable, such as riding on Africa’s first light rail in the heat of rush hour. This September’s trip was no different.<figure class="image"><img src="/uploads/2017_sept_ett1_bb175b5886.jpg"></figure>Some of our classic trip components include bumping along on back roads on the hunt for great companies; our business cocktail reception that includes no speeches, only connections with investors and other members of the business community; and good, local Ethiopian cuisine at some of Addis’ finest restaurants.Stay tuned in the next few months for more information on the investments the IAN and RENEW have decided to move forward with.

Ten members of the Impact Angel Network traveled from their homes across the United States to Ethiopia

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Sharks vs. Angels

<h1 style="text-align:center;">The Second Women in Finance Event</h1>On March 21s, 2018, RENEW co-hosted the second Women in Finance event in partnership with Enat Bank, an Ethiopian Bank focused on the vision of leveraging women's economic capabilities. This session focused on developing financial products for women, in an effort to promote gender equality within the Ethiopian financial market.The speaker for the discussion was Abeba Tesfai who is Director of Women's Financial Services &amp; Marketing at Enat Bank, and has been collaborating with RENEW for a few years as a Resource Provider, referring women-led businesses to be considered for equity investment. Abeba has been with Enat Bank for nearly three years in her current role, focusing on the bank's program policies, and creating partnerships focused on women's economic empowerment. Abeba is Ethiopian, grew up in Sudan and moved to the US where she completed her undergraduate studies and her master's degree in Business Management at Stayer University. For over a decade, she worked for Bank of America, then, Freddie Mac and Treliant Advisors. She is a seasoned finance professional who decided to return to her home country after so many years to share her expertise and her passion for promoting financial inclusion and to have an effective impact.<figure class="image"><img src="/uploads/img_4444_0_cb937171ea.jpg"></figure>Most of the participants in the series were women CFOs and business woman, and a good part of the discussion centered on sharing advice on how to feel confident and empowered as financial professionals and when interacting with financial institutions.Abeba presented interesting insights on her experience in banking in Ethiopia to start off the discussion on "Developing Financial Products for women as an effective tool to promote gender equality". Most of the discussion was centered on how to make banking more attractive for women in Ethiopia. Abeba shared her perspective about her work at Enat, how they are focused on servicing SMEs and how they are working to provide easier access to financial resources for those without formal collateral (land, etc.).Abeba also shared data from the latest Women's Entrepreneurship Report, which stated that Africa produces more women entrepreneurs than any other region in the world. The regional average for female entrepreneurial activity rate as percentage of the female population aged 16 to 64 is 18% in Africa, in Latin America and Caribbean it's 17% and North America is 12% <a href="#fn1">(*)</a>.<figure class="image"><img src="/uploads/img_20180321_wa0025_617ea44d52.jpg"></figure>&nbsp;During the Q&amp;A, a point was made that some Ethiopian women are more afraid to inquire about financial information than their male counterparts. When going to banks for loans, one of the main challenges Ethiopian women face is lack of collateral - usually in the form of land - as land deeds are often made in the husband's name.In addition, Abeba shared a very interesting story that really made me reflect on the impact of that night event. Through their work at Enat Bank, they have discovered that women of the local Gurage ethnic group were advocating for women land ownership rights as far back as the 1500's in Ethiopia. This history led Enat Bank to name one of their branches of the bank in the group's honor.This story made me reflect as a woman, as a finance professional and on my day to day work with entrepreneurs at RENEW and how important it is to encourage each other and be persistent. It is certainly very challenging to raise funding for a small or medium enterprise in Ethiopia, and especially as a women entrepreneur. An interesting report produced through the Entrepreneurship Database Program, led by a consortium of organizations <a href="#fn2">(**)</a> mapped the performance of a large sample of new ventures all over the world, that have attended an Acceleration Program. They have identified that women owned/led businesses on average perform better in terms of revenues and growth, than men led business, but are half as likely to report capital raised (equity and debt) when compared to men led business.These meetings, roundtables and forums are designed to create a space for women in finance, such as CFOs, business leaders and women bankers to share our stories, challenges, successes but most importantly to encourage each other to move our organizations in a path towards gender equality.

Developing financial products for women as an effective tool to promote gender equality

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The Second Women in Finance Event

Press Release: Angel Network to Showcase Impact Investing in Africa at its Third National Gathering Download the Full Press ReleaseThe 2017 Impact Angel Network National Gathering is right around the corner on October 27 at the Embassy of Canada in Washington D.C.! Join IAN members and distinguished guests while they share stories of conscious capitalism and impacting investing.This year, we welcome Chef Marcus Samuelsson, an Ethiopian-born, Swedish-raised celebrity chef known for his appearances on Iron Chef America, Chopped, and Anthony Bourdain’s Parts Unknown. Marcus has curated a special menu for the event that promises to impress.Tickets for the event are available until Monday, October 23rd and can be purchased <a href="https://2017-impact-angel-network-national-gathering.eventbrite.com/">here</a>. Additional events will be held exclusively for IAN members on October 28. The IAN membership is free and open to accredited investors. Learn more about the IAN <a href="https://www.renewcapital.com/investing">here.</a>We look forward to seeing you at the 2017 National Gathering!If you have any questions about the event, please contact: Erin O’Connor at <a href="mailto:eoconnor@renewcapital.com">eoconnor@renewcapital.com</a>

Event will feature celebrity chef & stories of impact

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Press Release: Angel Network to Showcase Impact Investing in Africa at its Third National Gathering

<h1 style="text-align:center;">Can a little investment in the missing middle have a big impact on the SDGs?</h1>As I write this, RENEW is celebrating 6 years of operating and investing in Ethiopia. We and the world have come a long way since we first entered the country in 2012. Personally, I try to live in the camp that believes the world is getting better; however, the media is good at convincing us otherwise.One milestone that has me cautiously optimistic actually occurred back in 2015, when the United Nations released a sweeping action plan for the world to meet 17 Sustainable Development Goals (SDG) and 169 targets by the year 2030. Daunting, right? In particular, because the SDGs were a follow up to the Millennium Development Goals, which we did not achieve. 2030 is 12 years away and the UN seeks to end poverty in all its forms, achieve gender equality, empower all girls, and accomplish a number of other bold actions. Inspiring! And the UN goes even further by providing frameworks, action plans and a call to governments, organizations and businesses around the world to join in this massive effort. And guess what? A lot of organizations, governments and the private sector have aligned with them. Read this: <a href="https://www.huffingtonpost.com/ingrid-embree/how-17-companies-are-tack_b_11991808.html">How 17 Companies are Tackling Sustainable Development Goals (and Your Company Can, Too</a>. Though, I am not naive about the challenge the world is up against, setting audacious goals and rallying people and organizations behind them, is a key step to accomplishing big change.<figure class="image"><img src="/uploads/screen_shot_2018_04_04_at_10_04_57_am_57b04b308d.png"></figure>The gap in financing to achieve the goals is estimated to be at $2.5 Trillion. On September 18, 2017, UN Secretary General António Guterres started a speech with strong words to the private sector saying…“Either the Sustainable Development Goals are fully assumed with enlightened self-interest by the business community, the private sector, and the financial sector, or the Sustainable Development Goals will be a very nice exercise in diplomatic discussions in New York and maybe in some policies of some governments, but the impact on people, the impact on poverty, the impact on the planet, will be extremely, extremely small.”Ahh,there it is. Enlightened self-interest; a philosophy in ethics that states that a person (or group) who acts to further the interests of others ultimately serves their own self-interest. Enlightened self-interest is, in my opinion, the only way we’ll be able to reach (or try to make some measurable impact with) the SDGs in the next 12 years. But what is enlightened self-interests and what form do they take for the business community? I think several terms shed additional light on his meaning, including “conscious capitalism,” “blended finance,” “impact investing” and a host of other popular buzzwords that related to investing for both positive financial and social returns.Most would agree that there are easier places than Africa for RENEW and the Impact Angel Network to invest, so I think I can safely put us in the category of businesses that operate with enlightened self-interest. Our enlightened thought is that almost all of the problems that people are trying to fix on the continent will go away or get significantly better once there is a thriving private sector. To name a specific SDG that aligns with our business model, it would be Goal 8:Decent work and economic growth, which fits squarely in RENEW’s impact investment model.The beauty of an impact investing firm is not only do we align with Goal 8, but we also get to participate in and measure the sustainability efforts of every one of the companies in which we invest. Their business models are diverse and each one of them is playing a different but important role in meeting the SDG goals.<figure class="image"><img src="/uploads/collagesdgblog_ce7dac7579.jpg"></figure>This is how I believe RENEW and our <a href="https://www.renewcapital.com/portfolio?company=Akello%20Banker">portfolio companies</a> align with the SDGs and are creating positive social impact in Ethiopia.<ul><li>NO POVERTY: In 2017 alone, RENEW’s portfolio companies directly or indirectly supported 2,280 individuals and 5,700 small-holder farmers in Ethiopia by providing full and part time employment at competitive salaries and wages.</li><li>ZERO HUNGER: Mama Fresh is not only a worldwide ambassador of Ethiopian cuisine but the company also provides nutritional lunches to all of its 63 employees, of which 84% are women, many of who have families at home to feed.</li><li>GOOD HEALTH AND WELL-BEING: Tebita Ambulance, East Africa Emergency Service’s in-country partner, has transported more than 50,000 patients to local area hospitals and clinics, saving thousands of lives that would have otherwise been lost.</li><li>QUALITY EDUCATION: In addition to exporting some of the highest value speciality coffee from Ethiopia, METAD supports 408 elementary and middle school-aged students near its Hambela farm through a newly built school, uniforms, and covering the teachers’ salaries. Desta PLC, a textile manufacturing company, also encourages and provides in-company trainings for employees who are interested in pursuing a leadership role.</li><li>GENDER EQUALITY: Konjit, the “Mama” behind Mama Fresh, is one of the co-founders of one of the most well recognized injera brands in the country.</li><li>CLEAN WATER AND SANITATION: Ethiopia is a landlocked country, making water a very precious resource. Growing, drying, and preparing coffee cherries for roasting is normally a very water-intensive process that creates quite a bit of water byproducts and waste. METAD, being an environmentally conscious company, uses a coffee cherry cleaner/pulser that reduces water waste by 10% and educates smallholder farmers on irrigation best practices.</li><li>AFFORDABLE AND CLEAN ENERGY: dVentus Technologies, under the direction of a former GE executive, is building smart electric meters, smart water meters, and other efficient energy grid solutions for the East Africa region and the continent.</li><li>DECENT WORK AND ECONOMIC GROWTH: In addition to providing 2,280 jobs in 2017, our portfolio companies have grown their collective sales by 19.2% and net profit by 33.7%, directly contributing towards the underlying goal of creating a robust private sector.</li><li>INDUSTRY, INNOVATION, AND INFRASTRUCTURE: KROTAJ plans to add value to a key Ethiopian commodity and generate foreign currency for the country; Sadura plans to produce a quality food product for local consumption; Mama Fresh takes teff and makes injera for the export and local market. All three companies are growing leaders in their respective fields and are continuing to develop and set industry standards through ISO certification.</li><li>REDUCED INEQUALITIES: By investing in the private sector, RENEW’s portfolio companies are able to, in turn, create jobs in the local economy, and thereby contribute towards a growing middle class and decrease income and socioeconomic disparities.</li><li>SUSTAINABLE CITIES AND COMMUNITIES:Roadrunner Technologies and partner organization Deliver Addis reduce traffic and increase livability of Addis by delivering food and other items directly to customers.</li><li>RESPONSIBLE CONSUMPTION AND PRODUCTION: Desta PLC, Mama Fresh, Sadura, and KROTAJ all seek to backward integrate into their respective agricultural value chains, thereby creating sustainable supply chains, educated farmers, and informed consumers.</li><li>CLIMATE ACTION: dVentus Technologies seeks to assist Ethiopia and the world beyond to sustainably power enterprise and economic development, METAD seeks to educate small holder coffee farmers on environmentally friendly farming techniques that conserve water and save trees, and Roadrunner seeks to reduce CO2 emissions by reducing the amount of old and polluting vehicles on the road.</li><li>LIFE BELOW WATER: Just to make sure you are still paying attention, you probably know there’s no ocean access in Ethiopia, so we’ve got nothing here! Stay tuned when we expand to new countries that have coastlines.</li><li>LIFE ON LAND: METAD seeks to sustainably manage the forests surrounding and running through its coffee farms by growing coffee varietals that require the shade of trees, and thereby fights against desertification.</li><li>PEACE, JUSTICE, AND STRONG INSTITUTIONS: All of RENEW’s portfolio companies work hand in hand with the Ethiopian government to foster peaceful relations and understanding with its citizens and the outside world, be it through international trade, economic policy implementation, or sharing the values and culture that makes Ethiopia unique.</li><li>PARTNERSHIPS FOR THE GOALS: It’s important to thank our partner <a href="http://www.international.gc.ca/international/index.aspx?lang=eng">Global Affairs Canada</a>, and previously <a href="https://www.usaid.gov/">USAID</a> for seeing the potential of a partnership with RENEW and the IAN to help achieve the SDG goals in the countries we operate.</li></ul>It’s clear that many of SDGs have the continent of Africa specifically in mind, and so grows our conviction that a vibrant private sector is a solution to many of these goals. And, if we believe the idea that countries with vibrant and thriving private sectors are better off than those without, it only makes sense to want to find solutions that stimulate Africa’s private sector as a main theme for the SDGs. Therefore, ethically led, growing small to mid-size companies in Africa (can we say companies acting out of “enlightened self-interest”), are one of the best antidotes for what ails not only the continent, but the world.At RENEW, we’ve grown a substantial and dedicated network of impact angels who believe in this. It could be said that the Sustainable Development Goals are baked into the very core of RENEW’s business model, and the portfolio companies in which RENEW and the IAN invest. I wholeheartedly believe that if we and many like us continue to fervently pursue enlightened self-interest, the world will continue to get better and better.&nbsp;&nbsp;

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Can a little investment in the missing middle have a big impact on the SDGs?

<h1 style="text-align:center;">Reporting Our Success in Ottawa</h1>In early April, I met up with Matt and Laura Davis in Ottawa to check in with our partners over at Global Affairs Canada (GAC).The main event was a brown bag lunch that we hosted for all in the organization who were interested in learning about the <a href="../2016/accelerating-business-growth-project.html">Accelerating Business Growth</a> blended finance project we are undertaking in Ethiopia. The presentation attracted a large group of GACers from numerous departments eager to understand the impact RENEW is having in Ethiopia's private sector. Some of the key results we were excited to share with the group on progress made in the project included:<ul><li>Ongoing finance, governance, marketing, ESG, and operations support of accelerator companies resulting in 19.2% sales growth and 589% profit growth in 2017</li><li>2,933 jobs supported out of the ongoing five-year target of 5,000, including more than 2,000 held by women</li><li>$8M CAD of additional financing attracted to accelerator companies (in addition RENEW's IAN/angel investments)</li><li>Growth of our IAN angel network to 127 individuals and families, passing the half-way mark of our project goal of 250</li><li>25 CFOs and professionals trained in the most practical and valuable finance and accounting tools and best practices</li><li>390 SMEs trained in the fundamentals of private equity, and how to prepare for an equity round from an investor</li></ul><figure class="image"><img src="/uploads/ottawa_fotor_3b0a5bdc62.jpg"></figure>We were happy to report that the companies in last year's cohort of the The Exec's Program are beating benchmark data in several key categories including employee growth, revenue growth and capital secured. A goal for RENEW is to be investing in 20 countries across Africa, and to do that, we must prove that our model is working. While our portfolio is currently solely based in Ethiopia, we were able to meet with several GAC representatives to share about our desire to expand the ABG model regionally in Eastern Africa. We discussed the results we have produced to date in Ethiopia, the continuing need to fill the financing gap in all African countries, and the impact our model would have on the economies in the continent, in terms of job creation and economic empowerment. We plan to continue these discussions and engage with GAC and other potential partners on an expansion strategy.All in all, we came away from the meetings and event in Ottawa feeling good about the results we have achieved to date, and grateful for the partnership we have with GAC. It struck each of us how positive our interactions were with everyone whom we met. The team over at GAC seems razor-focused on their mandate of international development, yet warm and personable and eager to connect. We look forward to going back to Ottawa throughout the project to continue sharing about our project results and educating those on the importance of investing in SMEs in Africa.

The Exec's Program results are beating benchmarks

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Reporting Our Success in Ottawa

<h1 style="text-align:center;">Ethiopia Emerges (Chigign 'Tobiya)</h1>It's really not too often that the stars align so well with a vision we had in our head at RENEW, but knew we couldn't pull off without the right people, becomes a reality.That's just what happened with the upcoming TV series, Chigign 'Tobiya, which will appear on Fana TV, Friday's at 8:30 PM. Girmay Haile Gebreselassie is the visionary behind the show. He has written and directed two movies, three plays and has a solid career in IT.Chigign is a reality TV show dedicated to elevating entrepreneurship and Ethiopian entrepreneurs who are innovating in IT, the arts, education and general business. The show aims to encourage and educate youth and the society at large about the importance of innovation, entrepreneurship, private equity, angel investing and the private sector in general in Ethiopia. The program will be produced by his company Tonetor. RENEW is proud to be a sponsor, for members of our Investment Committee to sit on the panel and also to be investing in the winning entrepreneurs.Visit <a href="https://youtu.be/GyovqM8acCY">YouTube</a> to view a short program clip or <a href="http://www.tonetormultimedia.com/">HERE</a> to see the advertisement.Show Name: Chigign 'Tobiya (Chigign mean sapling/sprout and 'Tobiya is an old name for Ethiopia). Our English definition for Chigign Tobiya is Ethiopia Emerges.Air Times: Tune in the following dates to view the first episodes.&nbsp;<figure class="image"><img src="/uploads/screen_shot_2018_05_02_at_11_16_52_am_f32731bfcc.png"></figure>&nbsp;The Concept: Chigign 'Tobiya is a platform for the entrepreneurs to gain access to capital, contracts and coaching. Entrepreneurs will appear and pitch, in a concept that combines Shark Tank and American Idol, if they pass to the next show, the Chigign team and in some cased the judges will provide coaching to help them enhance their business concept to make it to the final round where they will be eligible for an investment from the panel's fund.<figure class="image"><img src="/uploads/chigign_tobiya_94171a620d.jpg"></figure>Get Involved:<ul><li>Pitch Your Company or Idea - The Chigign 'Tobiya team will choose more than 30 entrepreneurs each season and have them pitch their company or idea for a chance to appear on the show.</li><li>Be an Investor in the Fund - Be a permanent or rotating investor on Chigign 'Tobiya. Hear pitches, mentor entrepreneurs and vote with the panel to allocate the fund to finalist entrepreneurs. Not interested in appearing on the show. You can still invest in an ETB fund which will be managed in a partnership between RENEW and Tonetor.</li><li>Be a Sponsor - The Chigign 'Tobiya team is looking for sponsors interested in encouraging Ethiopian youth and the society at large towards entrepreneurship and innovation. In return, you will receive good press and a variety of benefits as part of your CSR program.</li><li>Ecosystem Partner - Do you work with Ethiopian entrepreneurs? We'd love to add value to your program by having your entrepreneurs pitch on the program.</li></ul>

Proudly partnering to build Ethiopia's entrepreneurship and angel ecosystem

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Ethiopia Emerges (Chigign 'Tobiya)

<h1 style="text-align:center;">RENEW's Impact Angel Network to Invest in FC Specialty Restaurant PLC</h1>Download the Full Press Release.RENEW and members of the Impact Angel Network (IAN), through IAN-Chicken, LLC, have closed an investment in FC Specialty Restaurant PLC, an Ethiopian company founded by Tseday Asrat and Elias Ketema Sima, the founders of Kaldi's Coffee and Gusto Restaurants. FC Specialty Restaurant PLC will launch a quick service restaurant (QSR) franchise in partnership with an international brand and aims to become the largest international food franchise conglomerate in Ethiopia within seven years, and the fourth largest franchise operator on the continent of Africa.<figure class="image"><img src="/uploads/fastchicken_1_12cdd2fe57.jpg"></figure>With a focus on local sourcing, the franchise intends to invest in Ethiopia's poultry value chain, thereby positively impacting the livelihoods of thousands of smallholder farmers, manufacturers and supply chain actors. The company seeks to transform Ethiopia's poultry and food services industries with a focus on ethical management, excellent customer service, and the adoption of international food quality, safety and health standards."We are excited to partner with a global brand to bring the first international chicken franchise to Ethiopia," said Mr. Sima. "By partnering with RENEW and the Impact Angel Network, we believe we will be bringing the strongest possible partnership together to launch the international brand, here in Ethiopia.""RENEW, the Impact Angel Network and our local partners are grateful to our stakeholders in Ethiopia and to Global Affairs Canada, which make our investment work in one of the fastest growing countries in the world possible," said Matthew Davis, CEO of RENEW. He added, "We focus on supporting new ventures and small and medium enterprises (SMEs), and aim to create sustainable impact through strategic investing, management consulting and targeted training programs we offer our portfolio companies."RENEW and the Impact Angel Network have built one of the most active investment firms in Ethiopia. The investment in IAN-Chicken, LLC and its investment in FC Specialty Restaurant PLC, is the Impact Angel Network's tenth investment in a portfolio of nine companies in East Africa.<figure class="image"><img src="/uploads/fastchicken_2_75768669c0.jpg"></figure>To find out more about RENEW, please visit <a href="../../index.html">www.renewcapital.com</a>. The Impact Angel Network (IAN) is one of the most active private equity investors in Ethiopia. RENEW's work in Ethiopia was piloted with USAID and is currently undertaken with financial support from the Government of Canada provided through Global Affairs Canada. The project, Accelerating Business Growth, aims at sustainable job creation for low-skilled workers, including women and young adults, through a dynamic and growing small and medium business sector in Ethiopia.RENEW manages the IAN and provides professional management and consulting services to portfolio companies.To find out more about Kaldi's Coffee, visit <a href="http://kaldiscoffeeethiopia.com/">http://kaldiscoffeeethiopia.com</a>. To find out more about Gusto Restaurants, visit <a href="http://gustoaddis.com/">http://gustoaddis.com</a>.

Announcing the IAN's tenth investment in a portfolio of nine companies in East Africa

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RENEW's Impact Angel Network to Invest in FC Specialty Restaurant PLC

<h1 style="text-align:center;">Mama Fresh’s New Factory</h1>In March 2018, Mama Fresh inaugurated its new facility in Kality. Until recently, Mama Fresh was a familiar and friendly face in Addis' Gotera neighborhood, where the company has been producing fresh baked, high quality injera since 2015.The move to Kality allows Mama Fresh the opportunity to expand its export business and its domestic offerings with a one-level factory layout with improved production efficiency. The company is the first ISO certified injera company in the country.Mama Fresh’s current product line includes: • Black Label Premium Injera - 100% Teff injera, sold in Addis • Red Label Export Quality injera - shipped to North America, Europe and the Middle East • Spices product lines - premium mitmita, shiro and berbere spices. This new line is already garnering a lot of fanfare in the North American market.Mama Fresh will continue expanding and plans are in the work for an even larger facility in Kality.In case you missed it, Mama Fresh was recently featured on CGTN Africa. View the story <a href="https://youtu.be/hvRSubyddLE">here</a>.

The new factory in Kality is the first ISO certified injera company in the country.