<h1 style="text-align:center;">Press Release: IAN to Invest in Logistics and E-Commerce in Ethiopia &nbsp;</h1><a href="https://latest-api.renewcapital.com//uploads/RENEW_Press_Release_Road_Runner_Final_82051b5ee0.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release.</a>Members of RENEW’s <a href=" https://www.renewcapital.com/investing">Impact Angel Network (IAN)</a> have committed capital to fund Roadrunner Technology Solutions LLC (Roadrunner), which will partner with Universal Courier Services PLC (Deliver Addis) to expand the burgeoning logistics and e-commerce industries in Ethiopia. Deliver Addis is a technology enabled, online food delivery company based in Addis Ababa, Ethiopia, launched in October 2015. To date, the company’s focus has been on business-to-consumer (B2C) delivery, mainly of restaurant orders. The IAN’s investment in Roadrunner is aimed at helping its partner Deliver Addis to become Ethiopia’s leading technology-enabled, last-mile courier service for consumers and businesses. &nbsp;“RENEW and the IAN anticipate that this investment in Roadrunner will meaningfully contribute to the Ethiopian economy by creating jobs, reducing emission through the use of more fuel efficient vehicles, and increasing business for local restaurants, grocery stores and companies,” said Matt Davis, CEO of RENEW. He added, “We are grateful to our partners in Ethiopia and the Government of Canada who make, our work in Ethiopia possible.”Deliver Addis’ founder Feleg Tsegaye commented, “Since we launched Ethiopia's first online restaurant delivery service, people have quickly taken to it with virtually no marketing and have pushed us to expand in ways we hadn't expected. Our partnership with RENEW and the IAN will enable us to build the technology and scale our operations in order to support demands from existing and new customers, including individuals, businesses, organizations and more.”This is the Impact Angel Network’s ninth investment in its portfolio of eight companies in East Africa.If you have any questions, please contact: Erin O’Connor at <a href="mailto:eoconnor@renewcapital.com">eoconnor@renewcapital.com</a>

Roadrunner Technology Solutions LLC joins RENEW’s portfolio

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Press Release: IAN to Invest in Logistics and E-Commerce in Ethiopia

<h1 style="text-align:center;">Meetings: The Widely Misused Parts of a Company</h1>I will always remember my first day at RENEW. It was Monday morning and after having three weeks of vacation between jobs, I couldn’t wait until I got assigned to my first task. I was excited to start kicking at this new company. However, when I got to work that day, the RENEW team was preparing for their weekly “Legend” meeting. The whole team wrote down their “I musts” for the week and presented them to the team. After some discussion on what should be added and what should be changed, the meeting was dissolved and the team proceeded to address their individual tasks. No one assigned me to any specific task so I was sitting there confused on what just happened and what I should do next. Then came Wednesday, and there was a ‘’Standup” meeting along with the “Active Pipeline” meeting later in the day. Then came the “Week in Review” meeting on Friday. But what was the point of all of these routine meetings?<figure class="image"><img src="/uploads/meetings_0_ee8348f28a.jpg"></figure>Being a legal counsel for different companies, I have first-hand experience on how annoying and unproductive meetings can be. I have visited several government offices, including ministries, authorities, agencies, you name it and the number of times I have returned from these offices without getting anything done, because of all the meetings, are countless. For me, meetings always represented instruments to avoid tasks, and one of the reasons for the public’s dissatisfaction in public services. Coming from this background, I was confused on how a private company, with a great vision like RENEW, wasted this much time on meetings.Then came week 2 and I began to understand the problem, and RENEW’s solution. The problem is not about having a meeting it’s about how you are using it. At RENEW, meetings are tools of execution. Every meeting has a purpose, an outcome and agenda. We take notes and conclude the meeting with a “next step”, or several. Through RENEW, I have come to understand the other side of meetings. It’s true that meetings are expensive; you are pulling people, your most valuable resource, away from their tasks and into a single room to talk. However, I’ve learned that if used correctly, meetings become the compasses of the company: they will help lead you towards the company’s daily, weekly, and yearly goals. Through meetings, you start to understand the bigger picture of the company, what the company is aiming for, where it is currently standing, its vision and how you, as an individual, can contribute to move the company forward. Now, during all our weekly meetings, I don’t expect someone to assign me a task. I already know where we are heading and how I can be of help in driving this ship forward.Image Source: UCR Alumni Blog: <a href="http://alumniblog.ucr.edu/tips-for-running-effective-meetings/">Tips for Running Effective Meetings</a>

How RENEW effectively uses meetings to accomplish goals

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Meetings: The Widely Misused Parts of a Company

<h1 style="text-align:center;">Living For a Better Cause</h1>I’ve always had this fear. A fear of vanishing without doing something worthwhile; living a life without a purpose. To tone down this sound in my head, I started taking part in volunteer work that had a focus on underprivileged teens from the age of 8 to 15, and I also decided to cover school expenses for one student each year. But even while doing this, I never felt like I was doing enough to help others who would benefit from what I had to offer.Looking back at the life path I had, with a degree in Economics, an MBA and over six years of experience in banking (which taught me a lot about finance, economics, business development and people skills), I have been preparing for this job. All these skills will help me create a lasting change that we call impact here at RENEW. Therefore, when I saw this job opportunity, I went for it without a flinch. I am so grateful to join a company that is working to create an impact in this part of the world. Organizations like RENEW will help develop the infant private sector.In many ways, working in this type of environment is helping to directly and indirectly improve many individuals’ lives from the jobs we are creating. Every day, I would see able people that could have participated in facilitating this country’s development, and I remember trying to figure out what was missing, why these people were doing nothing to improve their lives. And then I would see small businesses struggling to survive, not being able to grow their organizations which in return would have helped them financially and create other working opportunities.<figure class="image image_resized" style="width:98.76%;"><img src="/uploads/team_picture_for_bottom_0_dfc4b86d15.jpg"></figure>There was a missing link that could help improve the way of thinking for so many small businesses and assist them psychologically and financially, and create jobs for people. Here at RENEW, that is exactly what we do and this is motivating me to work harder because this is what I have been wanting to do for a while now. I want to participate in a cause that improves the working and living conditions for so many people.Five weeks in, and I now have the inside view of what is really happening at RENEW. It’s been really fascinating to join a team of local and international professionals working to create an impact on the very people that I want to offer my service to, in whatever way I can. The positive energy in the working environment is also improving my day-to-day life immensely. Everyday leaving work, I know I have played a role in the 2,092 jobs created and sustained by RENEW. &nbsp;

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Living For a Better Cause

<h1 style="text-align:center;">Women in Finance Roundtable</h1>At RENEW, we truly believe that in order for an economy to be robust and its private sector to flourish, its finance industry needs to be enabled with strong decision-makers with diverse backgrounds and opinions. One aspect of this much-needed diversity is the presence of both male and female professionals who are empowered to think critically, plan and make decisions based on the numbers.However, the reality in Ethiopia right now looks much different from what we hope to see. The finance industry lacks strong CFOs and aspiring female finance professionals often lack the skills and presence&nbsp;to move beyond basic bookkeeping.&nbsp;Here at RENEW, we have been asking ourselves, “What can we do to help women in finance build up their confidence and skillset to overcome the challenges in this ecosystem?”On November 29, RENEW partnered up with Zemen Bank and hosted the&nbsp;Women in Finance Roundtable: How to communicate and influence decision making.&nbsp; A diversified pool of 20 female participants from all corners of the finance industry attended, including: senior leaders and managers of private banks, medium and large corporations, and from the chamber of commerce, to name a few.&nbsp;<figure class="image"><img src="/uploads/img_9204_fotor_1_699a9234b8.jpg"></figure><a href="https://www.linkedin.com/in/berhane-demissie-ab989914/">Berhane Demissie</a>, Managing Partner of Cepheus Capital, shared stories of her incredible journey to become the first female to own her own fund in Sub-Saharan Africa and generously answered everyone’s questions.Her path has not been without a bigger-than-average dose of challenges. I truly found that the candidness, humbleness and passion with which she spoke about her beliefs and approach to a career in finance (and to life in general) very relatable and empowering.Here are some of my favorite takeaways from the Roundtable:<ul><li>Having a balanced life with pillars of friends, family, religion, work (or however that looks for you personally) is extremely important. All those pillars together are what gives you strength in the face of challenges.</li><li>We should not be ashamed of failing. The trick is never to get the same scar in the same place.</li><li>As a female, we have advantages. We can play to our instincts and to our strengths. We have a lot to offer, we just need to package it right and communicate it well to make it work for us.</li><li>To achieve success in the industry, having the knowledge of the environment is equally important as knowledge of finance.</li><li>We all need an "I can do it!” attitude. Never lose sight of “I can do it” and never accept excuses.</li></ul>What an inspiration, indeed! Thank you Berhane.Applications are now being accepted for the second offering of the CFO 100 Program which starts in February 2018. Visit the <a href="https://www.renewcapital.com/companies">CFO 100 Program</a> page on our website to learn more.

A night focused on communicating and influencing decision making.

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Women in Finance Roundtable

<h1 style="text-align:center;">Out and About with Deliver Addis</h1>It's a busy Monday in Addis, people are at work, still trying to get into the swing of the week. Over at the Deliver Addis headquarters, they are preparing for the orders to start to come in. Monday is one of the busiest days of the week as it seems some customers have a weekend hangover and want the convenience of having their lunch delivered to them. On this particular Monday, RENEW decided to ride along with one of the drivers to get a first-hand glimpse of what it’s like to work for Deliver Addis.<figure class="image"><img src="/uploads/rr_collage_0_8acc6a282e.jpg"></figure>Not far away from HQ, Sintayehu a bike driver for Deliver Addis, is all ready to get the orders and feed his hungry customers. As he’s been trained, he is constantly&nbsp;checking his phone to see if orders are coming in. Time is of the essence.Sintayehu, a young man in his early twenties was born and raised in Addis just next to the African Union headquarters. He says he loves his job at Deliver Addis. He has a manageable&nbsp;timeframe to deliver food to customers and he also uses a user-friendly&nbsp;phone-based technology with a GPS link to the delivery&nbsp;address. The application makes his job easy. The first order of the day came in from an expat couple, who live around a place called Global Hotel. Sinatyehu received the order at&nbsp;11:25 AM&nbsp;and was already at the restaurant&nbsp;five minutes after the order came in. By&nbsp;11:52 AM&nbsp;he was at the couples front gate. The wife came and gave him a warm smile, took the food and went back in. He says just seeing the smile on the face of his customers makes his day. Eighteen months after starting this job, Sintayehu has bought a bike and is very excited to continue to work with Deliver Addis in the city he loves.&nbsp;Although we didn’t ride along all day with Sintayehu (we didn’t want to slow him down), it was great to see him in action!RENEW and the Impact Angel Network are proud to partner with <a href="https://www.linkedin.com/in/feleg/">Feleg Tsegaye</a>. and the team at Deliver Addis through our investment in Roadrunner Technology Solutions LLC. Want to learn more about the recent investment? Read our October Press Release.<hr>Applications are now being accepted for the second offering of the <a href="https://www.renewcapital.com/companies">CFO 100 Program</a> which starts in February 2018. Visit the <a href="https://www.renewcapital.com/companies">CFO 100 Program</a> page on our website to learn more.

Learn more about RENEW’s recent partnership

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Out and About with Deliver Addis

<h1 style="text-align:center;">The Third Annual Impact Report</h1><a href="https://latest-api.renewcapital.com/uploads/RENEW_Impact_Report_2017_c0d6c8251c.pdf">Read our 2017 Impact Report</a>RENEW announces the Impact Angel Network’s (IAN) third annual impact report. We hope it will give you key insights into RENEW’s business model, and the Impact Angel Network’s (IAN) portfolio in Ethiopia to see how they complement and intrinsically support the United Nations 17 Sustainable Development Goals.With nine investments in eight companies as of the end of December 2017, RENEW and the IAN now supports 2,280 jobs and 5,700 smallholder farmers. Our portfolio companies cover sectors including clean energy, coffee, teff, sesame, juice, textile, emergency care and logistics.Read our Impact Reports:<ul><li><a href="https://latest-api.renewcapital.com/uploads/Final_Impact_Report_2018_1b12d67377.pdf">Third Annual Impact Report (June 2018)</a></li><li><a href="https://latest-api.renewcapital.com/uploads/RENEW_Impact_Report_2017_c0d6c8251c.pdf">Second Annual Impact Report (June 2017)</a></li><li><a href="https://latest-api.renewcapital.com/uploads/RENEW_LLC_Impact_Report_2016_d7bb848962.pdf">First Annual Impact Report (June 2016</a>)</li></ul><figure class="image"><img src="/uploads/screen_shot_2018_06_05_at_2_12_11_pm_e0a653f65b.png"></figure>

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The Third Annual Impact Report

Through investments into METAD, an Ethiopian specialty coffee company, Renew Capital helped support thousands of jobs and educational opportunities for the surrounding community.

<h1 style="text-align:center;">METAD, an SDG Case Study</h1>The following blog is taken from our <a href="https://latest-api.renewcapital.com/uploads/RENEW_Impact_Report_2017_c0d6c8251c.pdf">2017 Impact Report</a>. Be sure to download the report to read more about RENEW’s approach to the United Nations Sustainable Development Goals.The expression, “It’s not our job, it’s theirs” is a phrase that resonates with the RENEW team. As we look around our portfolio, we see great examples of Ethiopian entrepreneurs, committed to their businesses and communities and making significant impact that aligns with the SDGs. METAD is one such example.The IAN closed an investment into METAD, an Ethiopian specialty coffee company, in October 2013 and made a second investment in 2015. The investments helped establish two coffee processing facilities on the METAD coffee farms, located near Yirgacheffe in the districts of Hambela and Gedeb in the Oromia region of Ethiopia. At the end of 2017, the company reported they were employing 200 people on a permanent basis and 1,200 seasonal laborers, in addition to supporting 5,400 out growers.<figure class="image"><img src="/uploads/moving_dried_coffees_to_the_hambela_warehouses_d435e600d1.jpg"></figure>We sat down recently with METAD’s CEO Aman Adinew and this is what he said.What’s your vision for METAD? From a business standpoint, we aim to be the best in specialty coffee. We started out to build a company that is socially responsible, environmentally conscious and making the highest possible impact in the community. That’s why we chose coffee. We saw the gaps and problems in the value chain, and we’ve focused on the opportunity of building a trusted, specialty coffee brand. Enhancing the lives of the people we work with…that’s the vision. That’s the biggest impact we can make.How do you engage the community? It’s key to meet leaders, elders and the community. Once you gain acceptance, they treat you like their son. They trust and respect you. We’ve been lucky at both our processing sites. The people welcomed us and truly know we are there to help them. We’ve significantly raised the average price per kilogram of coffee for the farmer by 30-40%.We focus a lot on education. It matters, because we have the opportunity to groom the next generation of leaders. Ethiopia is still a tribal place. My farm is in an area dominated by a tribe that is not my own. My presence and community engagement is breaking down stereotypes. The people see me putting additional money in their pockets, educating their children and helping to build the community. This is more satisfying than the EBIDTA that I have been able to accomplish.Specifically, we subsidize teacher salaries; we have built a school that holds 800 students; and we are adding an additional wing this year. The community leaders are asking for water, so we are hoping to build a well soon. We also sponsor 105 students from the area to attend college at Gilla University. For our 5,400 out growers, we have built a community center where we provide training to enable them to get premium values for their coffee, and we make a second payment to them at the end of the year, to essentially share our profit with them. We’ve been able to get all of them certified organic. The community center is also used for community meetings and other trainings including family planning seminars. The average family size is 12 in their area. Some families have 15-20 children which is unfortunately some of the highest per capita in the world.<figure class="image"><img src="/uploads/408_students_received_new_uniforms_edfae8f0a2.jpg"></figure>What kind of diversity are you aiming for in your work force? At the farm about 70% of our workers are women. At our headquarters, it’s about 50%. I won’t say there aren’t challenges, it’s hard for women from our headquarters to be taken seriously by some in the field near the farm, but we are working on it. Our staff are highly paid in our industry. We try to recruit the best, and then when the company grows, they benefit. We also encourage our team to take courses. Our high performing people attend conferences and also learn the export side of the business. Above all, I try to lead by example. I even stay at the farm for two months during the coffee harvest to show them that I am committed and with them.Any special programs for women? We helped bring Grounds for Health to Ethiopia and they run a program in coffee areas to screen workers and out growers, and others in coffee for cervical cancer. It’s an important and lifesaving initiative, we are proud to be a part of.We are also founding members of a group called Equal Origin which encourages women in coffee. Currently of our 5,400 out growers, most are men, but this doesn’t mean that the women don’t play a key role in the coffee production. So, we are educating families about equal rights, and in partnership with some of our buyers, including Intelligentsia, we are encouraging husbands, brothers and fathers to register their wives, sisters and daughter on the land documentation. Women are doing a lot of the work, and we, along with our buyers, are willing to pay a premium for families who are willing to recognize equal rights. Some people are rigid, but what we find in the communities where we work, is that most are open to change. And the economic benefit helps too!Why do your customers choose METAD? Our customers care about our story. That’s the beauty of specialty coffee. Specialty coffee is all about the community in which the coffee is produced. Buyers are willing to pay for good coffee. A whole story like METAD is exciting to them. Coffee they can find anywhere. But good coffee with a story is what our buyers are looking for

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METAD is an Ethiopian specialty coffee company with a vision for crop-to-cup coffee. The Company has strengthened Ethiopia’s coffee brand in the international market, and helped local farmers improve the quality and value of their harvested crop.

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Metad.avif

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METAD, an SDG Case Study

<h1 style="text-align:center;">Second Class of CFO100 to Start in February 2018</h1>RENEW is committed to building an elite class of finance executives in Ethiopia. This is the mission of the CFO100.The CFO100 program is a joint effort between RENEW,&nbsp;<a href="../2016/accelerating-business-growth-project.html">Global Affairs Canada</a>&nbsp;and the Association of Chartered Certified Accountants <a href="http://www.accaglobal.com/us/en.html">(ACCA)</a> to increase the credibility, quantity and quality of CFOs and finance managers in Ethiopia. The CFO100 program combines an intensive self-study training around ACCA’s selected papers alongside a practical training from RENEW.The CFO100 is simple: teach the fundamental skills of being a real CFO, most importantly how to be an adviser to your CEO. Other skills the group practices include how to build and use a budget; how to manage cash flow; how to analyze financial statement; and how to prepare financial reports for the CEO and shareholders. These are fundamental things that are deeply lacking in the education system in Ethiopia and many other countries. Over five years we aim to graduate 100 finance professionals that understand what it take to be a world class CFO.This past October, RENEW graduated its first cohort of participants. A class included a determined and intelligent set of finance professional who we hope will advance in their roles and become true advisers to their CEOs. The network that was created between participants and RENEW, promises great connections and sharing of resources via a bimonthly get together, sharing financial news in an online group. In this way, we believe we are contributing towards the creation of a finance ecosystem in Ethiopia.Applications are now being accepted for the second round of CFO100 slated to begin in February 2018. The deadline for application is January 7, 2018. To apply, and to learn more about the program, please visit our <a href="https://www.renewcapital.com/" target="_blank" rel="noopener noreferrer">website</a>.A great way to learn more about CFO100 is to check out our Frequently Asked Questions, and read through some of the related blogs we’ve posted over the past year:<ul><li><a href="https://www.renewcapital.com/newsroom/My%20FirstHand%20Experience%20Participating%20in%20the%20CFO100%20Program">My First-Hand Experience Participating in the CFO100 Program</a></li><li><a href="https://www.renewcapital.com/newsroom/Why%20Our%20Investment%20Firm%20Decided%20to%20Launch%20a%20MiniUniversity">Why Our Investment Firm Decided to Launch a Mini-University</a></li><li><a href="https://www.renewcapital.com/newsroom/What%20Does%20Good%20Look%20Like">What Does Good Look Like?</a></li><li>Press Release: RENEW Launches CFO100 Program at the Exchange</li></ul><figure class="image"><img src="/uploads/dsc_0057_0_28277e7d88.jpg"></figure>Applications are now being accepted for the second offering of the CFO 100 Program which starts in February 2018. Visit the CFO 100 Program page on our website to learn more.&nbsp;

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Second Class of CFO100 to Start in February 2018

<h1 style="text-align:center;">Gender Equality and Women in the Workforce Mini-Series: Blog 1</h1>Wherever you look these days, there are countless articles, media stories and statements being released about gender equality. Gender equality in the workforce, politics, and even in home life have been at the forefront of a global conversation in recent years and continues to gain momentum. But what exactly does it all mean? How do you, as an individual or an organization, actively support gender equality and women in the workplace? Here at RENEW, we’ve been following these conversations, and are committed to contributing to the growing dialogue about gender equality and women in the workforce.To begin, it’s important to understand what gender equality is. Often, what you read or hear may present the terms gender equity, gender equality, and women empowerment interchangeably. So, to better understand what gender equality really is, let’s take a step back and understand the distinction in these three terms. Gender equity is making a concerted effort to promote fairness between men and women, by acknowledging and implementing measures that allow women and men to operate on an even playing field. Gender equity naturally leads to gender equality, which exists when women and men have equal access to these opportunities and resources. When inequality exists, it is women who are excluded from decision-making and access to resources, silencing them from the critical conversations that take place within organizations every day. The key outcome of gender equality is women empowerment, which follows when organizations focus on identifying and addressing power imbalances and ways to overcome them (UNFPA, 2005).<figure class="image"><img src="/uploads/8f5a4683_fotor_8a557da330.jpg"></figure>To achieve gender equality, the conversation needs to shift to a spot where we’re considering why this topic is critical to everyone, and not solely women. A key way to look at this, is how gender equality plays out in the workforce. In a 2015 McKinsey Report, they found that companies and organizations that embrace gender diversity generally have better performance than those that don’t. Those companies are 15% more likely to outperform the companies that rate low for diversity in the workplace (Huhman, 2017). A common misconception about gender equality in the workplace is that women need to be given more advantages. Gender equality means allowing every employee the same access to benefits and rewards. Equality needs to be an everyone issue, not just an issue surrounding women (2017).When it comes to women in the workforce, as of 2017, women made up 39% of the labor force. Broken down by country, in Canada, women make up 47.2%, in the United States, they account for 45.9% and in Ethiopia they account for 46.9% of the work force (The World Bank, 2017). Globally, when we focus specifically on the finance sector as a whole, nearly half of employees in finance are women. However, women in leadership roles within this sector remain low, showing women holding only 25% of senior management roles, 18% holding CFO roles, and 4% holding the title CEO (Catalyst, 2015).As an impact investing firm, RENEW has a vested interest in embracing equality both in our investments, and internally. We run our business the same we hope to see other companies run theirs: with a gender-diverse team with women in key leadership positions. Similarly, in our investments, we always value companies that support women and offer services that allow them to succeed in the workplace and in their private life.Keep an eye out for more blogs in this series in the upcoming months.<hr>Other blogs in this series:<ul><li><a href="gender-equality-and-women-workforce-mini-series.html">Gender Equality and Women in the Workforce: A Partner's Perspective</a></li><li><a href="../2018/gender-equality-and-women-workforce-mini-series-blog-3.html">Gender Equality and Women in the Workforce: Government Resources</a></li><li><a href="../2018/gender-equality-and-women-workforce-mini-series-what-can-i-do.html">Gender Equality and Women in the Workforce: What Can I Do?</a></li></ul><hr>(1) <a href="http://www.catalyst.org/knowledge/women-canadian-us-and-global-financial-services">Catalyst, 2015. Women In Canadian, US, And Global Financial Services</a> (2) <a href="https://www.entrepreneur.com/article/298563">Huhman, 2017. 3 Reasons Why Gender Equality is an "Everyone" Issue</a> (3) <a href="http://www.unfpa.org/resources/frequently-asked-questions-about-gender-equality">UNFPA, 2005. Frequently Asked Questions About Gender Equality</a> (4) <a href="https://data.worldbank.org/indicator/SL.TLF.TOTL.FE.ZS">The World Bank, 2017. Labor force, female (% of total labor force)</a>