<h1 style="text-align:center;">Building a New Class of Finance Executives for Ethiopia</h1>The CFO100 program is a joint effort between <a href="../../index.html">RENEW</a>, <a href="http://www.international.gc.ca/gac-amc/index.aspx?lang=eng">Global Affairs Canada</a> and the <a href="https://www.accaglobal.com/ca/en.html">Association of Chartered Certified Accountants</a> (ACCA) to increase the credibility, quantity, and quality of CFOs and finance managers in Ethiopia. The CFO100 program will combine an intensive self-study training around ACCA’s selected papers alongside a practical training from RENEW.The CFO100 program provides a strong foundation of advanced accounting and real-world financial management skills that is designed to give participants a career advantage.We have just opened the application process for our third cohort of the CFO100 program which begins in February 2019. The application deadline is January 14, 2019.Apply here for RENEW's CFO 100 Program and become a finance leader in your company. For more information on how to apply, eligibility and the admission process, contact our team member Filseta Asrat (<a href="mailto:fasrat@renewcapital.com">fasrat@renewcapital.com</a>).Here's what previous graduates are saying...“The training was excellent. The CFO 100 program contributed to keeping updating myself on accounting skills, professional networking, budgeting experience, work with a team, building confidence, time management [...] The program also provided me with the opportunity to register for ACCA, on September 2018. I recommend the program to other financial professionals.”Emebet Beyene, CFO100 second cohort graduate"Joining the CFO 100 program, it was my expectation to acquire some inputs about what a well-equipped finance person would possess as a skill and attributes and […] I have been exposed to these through the classroom sessions and experience sharing stages created in the program.”Alazar Zeleke, CFO100 Program second cohort top score graduate and ACCA Member<figure class="image"><img src="/uploads/1_14_0_06844ba1cb.png"></figure>

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Building a New Class of Finance Executives for Ethiopia

<h1 style="text-align:center;">Press Release: RENEW's Impact Angel Network Closes Eleventh Investment in East Africa</h1><a href="https://latest-api.renewcapital.com/uploads/November_8_2018_RENEW_Press_Release_IAN_Texas_LLC_FINAL_245f5ff617.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release.</a>Addis Ababa, Ethiopia, November 8, 2018-- RENEW and members of the Impact Angel Network (IAN) have closed an investment in ET Fresh, LLC (ET Fresh). ET Fresh will specialize in increasing the branding, value and market reach of Ethiopian products into the Middle East and other markets. The company is a partnership between the IAN and Tesfalidet Hagos, the General Manager of Luna Export Slaughterhouse PLC, a family owned Ethiopian agriculture conglomerate.Initially, ET Fresh will focus on increasing the export of high-quality, processed and branded meat products from Ethiopia. ET Fresh intends to expand from this initial focus to become an umbrella brand that will launch a series of fresh product lines that are all-natural, premium quality and sustainable.In pursuing this strategy, the company will leverage the cattle ranching expertise which members of RENEW’s Impact Angel Network bring to the venture, as well as Mr. Hagos’ strong track record as a manager of industry-leading companies involved in processing fresh food in Ethiopia. RENEW will provide ET Fresh with branding and marketing support to position the company’s products for new markets, as well as supporting management in the areas of governance, financial management and recruiting.RENEW expects that this investment will contribute to the creation of hundreds of new jobs in Ethiopia, as well as greater income for pastoralists and increased foreign currency and tax revenue for Ethiopia.<figure class="image"><img src="/uploads/screen_shot_2018_11_06_at_10_47_50_am_0_d42c8ac59f.png"></figure>“I have great enthusiasm to work with [the] RENEW team and [they] will definitely make a difference in our marketing operation. It will give us a great opportunity to promote our country’s products internationally with a much better image and branding,” commented Mr. Tesfalidet Hagos.“We are excited to partner with Mr. Hagos and Luna,” said Matthew Davis, CEO of RENEW. He added, “Ethiopia has one of the largest livestock populations in Africa. It is a huge asset for the country and we are excited to help Luna and the citizens of Ethiopia realize greater economic and social value from this resource.”RENEW and the Impact Angel Network are one of the most active private equity investors in Ethiopia and recently expanded to Uganda. RENEW and the IAN seek to become the most successful SME investment firm in Sub-Saharan Africa, investing in hundreds of companies across twenty countries. Their mission is to find, invest and help grow great companies led by visionary leaders. The IAN and RENEW believe the greatest impact they can have in a country is realized through investing in strong companies and creating good jobs . They are able to accomplish this objective in Ethiopia and this investment in ET Fresh with support from Global Affairs Canada through a blended finance model. The investment in ET Fresh, LLC is the Impact Angel Network’s eleventh investment in a portfolio of ten companies in East Africa.&nbsp;###&nbsp;To find out more about RENEW, please visit <a href="../../index.html">www.renewcapital.com</a>. RENEW manages the Impact Angel Network (IAN) and provides professional management and consulting services to portfolio companies.

Increasing the export of high-quality, value-added products from Ethiopia.

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Press Release: RENEW's Impact Angel Network Closes Eleventh Investment in East Africa

<h1 style="text-align:center;">How Private Investments are Advancing the SDGs</h1>In 2016, the <a href="https://sustainabledevelopment.un.org/?menu=1300">Sustainable Development Goals</a> (SDGs) of the 2030 Agenda for Sustainable Development came into effect during the UN Sustainable Development Summit in New York. With a 15-year timeline, these goals encourage countries and various stakeholders to help improve the lives of people around the world. As we approach the 3-year mark, a number of organizations have started to report on the progress and approaches being used to help make these goals a reality by 2030.<figure class="image image-style-align-right image_resized" style="width:63.87%;"><img src="/uploads/screen_shot_2018_12_04_at_9_21_34_am_be8b7be502.png"></figure>One report, released in November 2018 by <a href="https://www.convergence.finance/">Convergence</a>, outlined the importance of blended finance to achieve the SDGs in developing countries. Although investments (development assistance and foreign direct investments) total $1.4 trillion annually, the United Nations estimates that in order to achieve the goals, $3.9 trillion is needed, leaving a large funding gap of $2.5 trillion. Blended finance, for its part, actively aligns itself to 11 of the 17 goals, with the main alignment happening in Goal 17 (Partnerships for the Goals) and Goal 1 (No Poverty) (Convergence, pg. 1).In terms of blended finance, most deals to date have focused on climate-change related SDGs and infrastructure-aligned SDGs. Currently, 48% of blended finance projects align with Goal 7 (Clean Energy), 43% of projects align with Goal 11 (Sustainable Cities) and 41% align with Goal 13 (Climate Action). Interestingly, different regions have also been targeted for specific blended finance solutions. Notably, in Sub-Saharan Africa, many solutions target Goal 9 (Industry, Innovation &amp; Infrastructure) (pg. 2). Another interesting finding in this data brief is the alignment of various investor types with specific SDG goals. Development agencies and other public sector organizations align most frequently with Climate Action and Clean Energy, commercial investors with Gender Equality and Clean Energy, and impact investors with Gender Equality and Climate Action (see Figure 8 below for a more detailed breakdown) (pg. 3).<figure class="image"><img src="/uploads/screen_shot_2018_12_04_at_9_31_06_am_010d329bf3.png"></figure>The key takeaway regarding the SDGs, blended/social finance and private investments is that investments alone cannot achieve the SDGs by 2030. Rather, it’s a combination of governments, private stakeholders, and other parties that will jointly bring these goals into fruition. Private investments tend to target some of the key themes of reducing poverty and sustainable infrastructure, but also put less emphasis on a number of the goals not related to these overarching themes. While private investments are playing a role in the SDGs, the report also highlights where further emphasis needs to be placed to achieve sustainable solutions for the future, and where some of that funding gap needs to be focused on in the years to come.Here at RENEW, we are still doing our part to help push these goals forward, and we believe that we are actively doing work that supports 15 of the 17 goals, with a large amount of resources going towards Goal 8 (Decent Work and Economic Growth) and Goal 17 (Partnerships for the Goals). It could be said that the SDGs are baked into the very core of RENEW’s business model and the portfolio companies in which RENEW and the IAN invest. In our <a href="https://www.renewcapital.com/newsroom/The%20Third%20Annual%20Impact%20Report">Third Annual Impact Repor</a><a href="third-annual-impact-report.html">t</a>, we take a deeper dive into our direct impact with the SDGs and explain how RENEW and the <a href=" https://www.renewcapital.com/investing" target="_blank" rel="noopener noreferrer">Impact Angel Network</a> are doing our part to make these goals a reality. Even though these goals can seem lofty, big changes do not happen without big dreams and even bigger goals to get you there.<hr>Sources: Convergence, Data Brief, Blended Finance &amp; SDG Alignment, November 2018 (Available to members of Convergence. To learn more about Convergence and their membership levels, please visit their <a href="https://www.convergence.finance/">website</a>.)&nbsp;

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How Private Investments are Advancing the SDGs

<h1 style="text-align:center;">Social Finance in Toronto</h1>At the beginning of November, RENEW team members <a href="https://www.linkedin.com/in/erinhoconnor/">Erin O’Connor</a> and <a href="https://www.linkedin.com/in/justin-reesor-019a942a/">Justin Reesor</a> had the opportunity to attend the <a href="https://www.socialfinanceforum.ca/">Social Finance Forum</a> in Toronto, Ontario hosted by <a href="https://impactinvesting.marsdd.com/">MaRS Centre for Impact Investing</a>. This conference was a packed three days with interesting conversations with some of the leading experts in social finance. The forum brings awareness to the growing field of impacting investing/ social finance and addresses how profits should be paired with purpose in today’s changing landscape.Here are a few of the highlights from the Social Finance Forum:<ul><li>Impact Investing 101 for Accredited Investors – Erin and Justin attended this talk on the first day of the forum. It had great speakers, such as Bill Young (Social Capital Partners) and Marc Van Den Berg (DBL Partners), who spoke about how the Impact Investing space has evolved over the last 15-20 years and how there is a major push to incorporate this type of investing into every-day portfolios. Another speaker during this session was <a href="https://www.linkedin.com/in/danielle-gibbie-71608312/">Danielle Gibbie</a>, who is also an IAN Member and an IAN Advisory Board chair. She spoke about the challenges and opportunities many foundations face when choosing to incorporate impact investing into their portfolios.</li><li>On the second day, the lunchtime keynote speaker was Paul Lamontagne (<a href="https://www.findevcanada.ca/">FinDev Canada</a>) who spoke about the ever evolving role FinDev Canada is playing in the impact investing space on an international scale. He discussed the necessity to empower women in order to encourage change in developing countries and markets, and how FinDev Canada is hoping to help push that mission forward.</li></ul>&nbsp;Overall, the week was filled with exciting keynote speakers, informative fireside chats, and great networking opportunities with other people in the space. To cap off the week, Justin and Erin hosted an <a href="https://www.renewcapital.com/investing">Impact Angel Network</a> lunch event at Bodega Restaurant, focused around the IAN and the work RENEW is doing in East Africa. They were joined by IAN Members, prospects, and a number of RENEW’s company partners including <a href="https://www.convergence.finance/">Convergence</a>. Thanks to everyone who made the lunch event and the Social Finance Forum such a great success.<figure class="image"><img src="/uploads/torontoevent_3794069fb5.png"></figure>

November’s Investor Trip to Toronto and the Social Finance Forum

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Social Finance in Toronto

<h1 style="text-align:center;">RENEW to Help Launch Season 2 of Chigign ‘Tobiya</h1>Season 1 of Chigign ‘Tobiya was a success culminating in the show’s angel investors choosing three companies to invest in, pending they pass due diligence. On September 11, 2018, just after the Ethiopian New Year’s Day, in a premium slot on national television, the show broadcasted the final episode of Season 1 during which the following three entrepreneurs were chosen by the panel of local angel investors for investment:<ul><li>Rohobot - A provider of home care nursing and training</li><li>YenePay - A mobile payment platform</li><li>BAMA Coffee - A mobile coffee-to-go business</li></ul>The transactions are in process, pending due diligence, and in the meantime, RENEW is helping to launch Season 2 of the TV series which will appear on Fana TV, Fridays at 8:30 PM. Girmay Haile Gebreselassie, the visionary behind the show, will return to produce Season 2. 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 angel investing, with a special focus this season on female entrepreneurship. The show aims to encourage and educate youth and society at large about the importance of innovation, entrepreneurship, private equity, angel investing and the private sector in general in Ethiopia. RENEW is proud to be a sponsor, to be represented on the panel by our own Laura Davis, and also to invest in winning entrepreneurs who pass our due diligence process.Visit <a href="https://www.youtube.com/watch?v=GyovqM8acCY&amp;feature=youtu.be">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 (Roughly translated to “Ethiopia Emerges”)The Concept - Chigign 'Tobiya is a platform for entrepreneurs to gain access to potential capital, contracts and coaching. Entrepreneurs appear and pitch in a venue that combines the American TV programs “Shark Tank” and “American Idol”. Entrepreneurs who move on through the competition receive coaching from the Chigign team and, in some cases, the judges with a focus on enhancing the entrepreneurs’ business concepts. The top contestants who make it to the final round will be considered for an investment from the panel's fund.Get Involved: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.Be an Investor - 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? There are still options to be involved. Reach out via email to learn more (contact information is below).Be a Sponsor - The Chigign 'Tobiya team is looking for sponsors interested in promoting entrepreneurship and innovation among Ethiopian youth and the society at large. We offer sponsors options to be featured in Chigign Tobiya events and programming, among a variety of benefits. Contact us to learn more (contact information is below).Ecosystem Partner - Do you work with Ethiopian entrepreneurs? We'd love to add value to your program by having your entrepreneurs pitch on Chigign 'Tobiya.Contact- Interested in being involved? Email us at <a href="mailto:renew@renewcapital.com">renew@renewcapital.com</a> or visit <a href="http://chigign.com">www.chigign.com </a>for more information.

Edutainment uses mass media as a platform to educate the public and elevate the concept of entrepreneurship and angel investing across East Africa. In Ethiopia, Renew Capital helped to build Chigign, a reality TV show dedicated to elevating entrepreneurship and angel investing. Future programs will aim to extend this educational work across Africa.

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For Youth Entrepreneurs and Local Angel Investors

Elevating Entrepreneurship and Angel Investing in Ethiopia

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RENEW to Help Launch Season 2 of Chigign ‘Tobiya

<h1 style="text-align:center;">5 Reasons to Attend the International Gathering</h1>RENEW's International Gathering is 5 short months away. This event convenes IAN members and guests to explore the dynamic investment landscape in sub-Saharan Africa, through the lens of SME investing. To highlight the 5 month countdown, we've compiled the top reasons to attend the event on May 17, 2019.Here are 5 reasons why you shouldn't miss the 2019 International Gathering:<ul><li>Hear from the greatest minds and strongest advocates for impact investing: Our Keynote Speaker for the evening will be <a href="https://www.carlyle.com/about-carlyle/team/david-m-rubenstein">David Rubenstein</a>, Co-Founder and Co-Chairman of the Carlyle Group. He will be sharing his story of building one of the world's most successful private equity firms with more than $200B under management, and how he views opportunities in Africa.</li><li>A unique networking opportunity: Meet individuals, business executives, thought leaders and experts in the impact and angel investing space. The International Gathering is a great opportunity to have important conversations with like-minded individuals interested in sub-Saharan Africa.</li></ul><figure class="image"><img src="/uploads/ngcollage_0_ec2cdc7ec7.png"></figure><ul><li>The International Gathering is a place for storytelling and impact: Hear stories from the continent and learn about how we’re all contributing to Africa’s growth story from 7,000 miles away. The International Gathering is a unique learning opportunity to challenge the assumptions people hold about East Africa.</li><li>Visit the Capital of the United States: Washington D.C. is beautiful in the spring, and our venue (the Embassy of Canada) overlooks the historic Capitol building. Spend the weekend exploring the <a href="https://washington.org/dc-neighborhoods/national-mall">National Mall</a> and all the free <a href="https://www.si.edu/museums">Smithsonian Museums</a>.</li><li>Attend exclusive IAN events: <a href="https://www.renewcapital.com/apply">Join the network</a> and attend several exclusive member-only events and activities that will take place on Saturday, May 18, 2019. Get to know fellow members while attending events designed to share perspectives and experiences.</li></ul>We hope that you will join us at our 2019 International Gathering in Washington D.C. on May 17. To learn more about the International Gathering, visit the <a href="../../internationalgathering/about.html">event page</a> on our website or register below.Early bird pricing ends at the end of January. <a href="https://www.eventbrite.com/e/renew-and-the-impact-angel-networks-2019-international-gathering-tickets-51562748569">Reserve your tickets today</a>.<figure class="image"><img src="/uploads/logos_e4af8d4895.png"></figure>Special pricing and Saturday events are reserved for members of the Impact Angel Network. To learn more about joining the network, please contact Erin O'Connor at <a href="mailto:eoconnor@renewcapital.com">eoconnor@renewcapital.com</a>.Image Source for David Rubenstein: CNBC: <a href="https://www.cnbc.com/2017/12/05/carlyles-rubenstein-says-geopolitical-black-swan-only-market-worry.html">5 Most Common Problems of Startups and Their Solutions</a>

Join us on May 17, 2019 in Washington D.C.

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5 Reasons to Attend the International Gathering

<h1 style="text-align:center;">Building Ethiopia’s Investment Ecosystem</h1>Part of RENEW’s purpose is to master the art and science of doing smaller sized equity investments in Africa. Smaller equity investments, those below 3M, are often not attractive for private equity (PE) funds to invest in since they cost the same, or sometimes more than the larger deals. Unfortunately, this creates a problem in many countries across Africa called the “missing middle”, and it makes it very hard for small and medium-size businesses (SMEs) to access capital and reach their full potential. RENEW‘s mission, in partnership with the <a href="https://www.renewcapital.com/investing" target="_blank" rel="noopener noreferrer">Impact Angel Network</a> and our partners at Global Affairs Canada, is to fill this gap in the capital market through new investment strategies. We are happy to report that in Ethiopia, it is working! In this blog, we want to share some interesting data we have discovered through some of our work, called sourcing.Sourcing is one of the key activities done by an investment firm. Sourcing is the job of everyone at the company and it involves lots of meetings, driving around and doing creative activities to find the best companies. One of the sourcing activities we do at RENEW is called the PE500: a half-day workshop hosted at The Exchange for companies to learn about private equity and the investment process. The goal is for companies and owners to learn about how PE works, and for us to meet new businesses.Throughout the 5-year term of the ABG project, our goal is to train 500 companies in Ethiopia through the PE500. Most of the companies that attend are looking for a partner to help them grow. Our aim with this training is to help owners learn about how equity investors can be a partner and then to help them learn how the equity process works.At the PE500 workshop, we cover the following topics:<ul><li>Who is RENEW, who are our investors, why are we here, and what do we do?</li><li>What is private equity, why is it important to companies in Ethiopia, and how is it unique?</li><li>What are the benefits and drawbacks of working with an equity investor?</li><li>How does the investment process work?</li><li>How can you increase the chances of attracting an equity investor?</li></ul>Through July and August of 2018, RENEW submitted a survey to 312 companies that have attended past PE500 trainings since the beginning of the ABG project. We received 150 responses to the survey. The purpose of the survey was to evaluate how the PE500 is helping SMEs improve their financial acumen and attract capital, given two of the intermediate outcomes of the ABG project are improved financial, environmental and social performance and success in attracting financing of SMEs to drive sustainable and responsible business growth. The overall target of the ABG project is to attract 52.5M Canadian Dollars (CAD) of financing, 15% of which should be provided to incubator companies. The PE500 training is a key tool for achieving these results. All data reported below was self-reported and provided by the entrepreneurs.Key survey findings:<ul><li>18 SMEs attracted financing after attending the PE500 training</li><li>4 of the 18 SMEs (or 22%) are led by women</li><li>CAD 2.3M in additional capital was secured</li><li>CAD 589K (or 26%) was secured by women-led businesses</li><li>Of the 18 SMEs, 39% received loans, 27% received grants, 17% received equity, and 17% reported other sources of funding (e.g. founders, family and friends).</li></ul>The above results indicate we have achieved 24% of the target for number of incubator companies attracting financing (18 of 75) and 15% of the target in terms of dollars (CAD 2.3M of CAD 15M).We have seen more compelling gender results, since we were targeting only 5% of incubator financing to be received by women-led businesses.More about the entrepreneurs that attended the PE500:<ul><li>Of the 312 companies to which the survey was submitted, 94 (30%) are women-led, and from the 150 companies that responded, 48 (32%) are led by female entrepreneurs.</li><li>The PE500 training is designed for business leaders and members of the senior management team, and 87% of our respondents were general managers, founders and/or owners of the businesses.</li></ul>Gender profile of the businesses that responded to the survey:<figure class="image"><img src="/uploads/screen_shot_2019_01_07_at_7_04_10_pm_0_269852fda6.png"></figure>About their companies:<ul><li>The companies are diversified and represent many industries and sectors, but over 60% of the companies that attended the PE training to date operate in sectors that are relevant for Ethiopia’s economic development and exist within the government’s priority sectors. These companies are also relevant for RENEW’s investment criteria and pipeline.</li><li>Of the 150 respondents, only 88 companies reported previous year revenues; of those who did report, average income was CAD 1.5M. However, this number may be misleading because large companies typically feel more confident in sharing their revenue, whereas small and medium sized companies, especially startups, often feel uncomfortable reporting small revenue results.</li><li>131 of the 150 companies reported employment data. On average, the companies have 68 employees in their workforce.</li></ul>Growth plans:At the end of each PE500 workshop, entrepreneurs are asked to complete a form providing feedback on the facilitation and content of the training. Additionally, we ask for more information about the attendees’ businesses (such as sales and employment numbers, as mentioned above), and ultimately if the attendees have interest in a one-on-one meeting with RENEW to learn more about potential financing. Most often, the feedback is very positive, and companies also provide valuable insights, such as their plans for growth as seen in the chart below.<figure class="image"><img src="/uploads/screen_shot_2019_01_07_at_7_05_43_pm_0_5b03b77465.png"></figure>The above chart illustrates the feedback from 104 companies regarding their plans for growth. The top initiative or plan for company growth involves increasing capacity (27%), followed by expansion and finally by working on and refining business strategy. The others did not specify.What SMEs need:<figure class="image"><img src="/uploads/screen_shot_2019_01_07_at_7_07_17_pm_501436b1f3.png"></figure>When companies were asked what they were most in need of, 47% responded with financing and working capital, followed by 20% reporting business support and expertise and 10% reporting strategic partnerships.Job Growth:On average, the companies that replied to the survey increased their number of employees by 44% in the current year compared to the prior year. When comparing the current year to two years ago, companies had increased their employee numbers by 71% on average.Conclusion:We believe that equity training can be a great tool to educate the market about a new funding source for companies in frontier markets like Ethiopia. These can also act as a great sourcing tool for Private Equity investors. We are excited about the results from the first 2.5 years of the program and look forward to enhancing the training to help high-quality SMEs attract capital and close the funding gap called the missing middle.

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Building Ethiopia’s Investment Ecosystem

<h1 style="text-align:center;">RENEW Facilitates a Pitch Event in Nairobi</h1>During the last week of November, the governments of Kenya, Canada and Japan came together to host the <a href="http://www.blueeconomyconference.go.ke/">2018 Sustainable Blue Economy Conference</a> at the Kenyatta International Convention Centre in Nairobi. The forum gathered entrepreneurs, delegates and policy leaders from across the globe to advance the discussion around the Blue Economy which consists of two main pillars: 1) sustainability, climate change and controlling pollution, and 2) production, accelerated economic growth, jobs and poverty alleviation.<figure class="image"><img src="/uploads/sbec1_fotor_0_b16fc98a75.jpg"></figure>The event provided a setting for NGOs, governments, and the private sector to converge and work towards sustainability. As Jonathan Wilkinson, Canada’s Minister of Fisheries put it, “The blue economy framework that has been talked about here allows us to integrate conversations that have been happening almost in silos. So issues around sustainable fisheries management, issues around illegal and unregulated fishing. Issues around plastics pollutions in the oceans, issues around climate change, and issues around economic opportunities and prosperity.” (Source: <a href="http://www.ipsnews.net/blueeconomy2018/2018/11/28/we-are-in-this-together/">http://www.ipsnews.net/blueeconomy2018/2018/11/28/we-are-in-this-together/</a>)RENEW was honored to play a special role in the event by facilitating an entrepreneur/investor pitch session during the Business and Private Sector Forum on day two of the conference. For this event, four impressive entrepreneurs with businesses and products related to water and oceans preservation and sustainability pitched their businesses to a panel of seasoned venture capitalists including RENEW’s CEO, Matthew Davis, alongside Sunir Chandaria of Conros Corporation and Ladé Araba of Convergence Finance.<figure class="image"><img src="/uploads/sbec3_fotor_09056cc937.jpg"></figure>At stake for the entrepreneurs was not funding, but rather real business and growth advice to help scale their ventures and create positive social impact by helping advance the UN’s sustainable development goals. The session was also meant to create a buzz at the conference and demonstrate the real conversations that happen every day between entrepreneurs and investors. Playing off of the format of popular TV shows such as <a href="https://www.cbc.ca/dragonsden/">Dragon’s Den</a> and <a href="https://www.ctv.ca/Shark-Tank">Shark Tank</a>, the pitch event added an exciting and authentic component to the conference that hopefully inspired those in attendance to engage the private sector on conversations around international development.A full recording of the event is available for viewing on <a href="https://www.youtube.com/watch?v=jr1uyyqj4zM&amp;t=348s">YouTube</a>.

The 2018 Sustainable Blue Economy Conference.

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RENEW Facilitates a Pitch Event in Nairobi

<h1 style="text-align:center;">A Look Back at 2018: Words and Pictures</h1>As we stand in the early days of a new year, it’s one of our traditions at RENEW to look back at the milestones we accomplished during the last 12 months. The work is not just happening in Ethiopia, but it's happening around the world. At RENEW, we are trying to tap into the enormous potential of making impact investing possible for 'not just the big funds' but for individual investors - angels. Here are some of the highlights for RENEW in 2018.<figure class="image image_resized" style="width:100%;"><img src="/uploads/year1_animation_6cd0459816.gif"></figure><ul><li>January – We started the year with our annual partners planning session in Colorado. It was a snowy and productive time in the mountains. We then packed our bags and headed to Texas, Georgia and New York to meet with people interested in our work in Ethiopia.</li><li>February – We rolled out our second round of the <a href="https://www.renewcapital.com/companies">CFO100</a> and <a href="https://www.renewcapital.com/companies">The Exec’s Program</a>. We also had IAN Member, Jeff Turi, join us for a month in Ethiopia to learn the ropes about what we do here at RENEW.</li><li>March – We held our second <a href="../2018/second-women-finance-event.html">Women in Finance</a> event in partnership with Enat Bank. We also traveled to Toronto, Canada to meet with a number of our Canadian IAN Members and we held two events in the city.</li><li>April – We traveled to Ottawa to visit our friends at Global Affairs Canada! We had several meetings and had the chance to host a brown bag lunch to report our success.</li><li>May – We helped launch Season 1 of <a href="../2018/ethiopia-emerges-chigign-tobiya.html">Chigign ‘Tobiya</a>! This show proudly works to build Ethiopia’s entrepreneurship and angel ecosystem. We also closed our 10th investment in FC Speciality.</li><li>June – We traveled to <a href="https://renewcapital.com/blog/2018/june-investor-trip">Minneapolis and Chicago</a> to meet with investors and other people interested in the work RENEW is currently doing. We also released our <a href="../2018/third-annual-impact-report.html">Third Annual Impact Report</a>. Several members of RENEW’s international team got their feet wet working on the ground in Ethiopia.</li><li>August – We finished the Exec’s Program with three intensive sessions where we invited the executives from both cohorts to participate. We are very excited that the results from this program are exceeding benchmarks!</li><li>September – We expanded into our second country, <a href="../2018/press-release-renew-enter-uganda-market.html">Uganda</a>! We also traveled to Wilmington DE and Charlottesville, VA to meet with members and others who were interested in learning more about our work.</li><li>November – We closed our <a href="../2018/press-release-renews-impact-angel-network-closes-eleventh-investment-east-africa.html">11th investment</a> in Ethiopia! RENEW and the IAN invested in ET Fresh, LLC, a company focused on increasing the branding, value and market reach of Ethiopian products into the Middle East and other markets.</li><li>December – We helped launch Season 2 of <a href="../2018/renew-help-launch-season-2-chigign-tobiya.html">Chigign ‘Tobiya</a>! We also finished the year the way we started it, with a planning session, but this time in Virginia. We are planning for 2019 to be a big year.</li></ul>Overall, we saw growth in our portfolio, and our companies supported more than 2,280 jobs. Throughout the year, we enjoyed connecting with members of the Impact Angel Network in Ethiopia and around the world. We are grateful to our partners in Ethiopia and the Government of Canada who make our work in Ethiopia possible and to the inspirational entrepreneurs leading our <a href="../../marketplace/portfolio.html">companies</a>.As we take on 2019, we raise a toast to our investors, our partners, our entrepreneurs, our team…and to our vision where people see Africa as a land of opportunities (not problems). Here's to a good 2019!!<a href="https://www.linkedin.com/in/matthew-davis-a948772/">Matthew Davis</a>, <a href="https://www.linkedin.com/in/tom-scriven-cfa-1b61767/">Tom Scriven</a>, <a href="https://www.linkedin.com/in/laura-davis-25764430/">Laura Davis</a>, <a href="https://www.linkedin.com/in/justin-reesor-019a942a/">Justin Reesor</a>, <a href="https://www.linkedin.com/in/erinhoconnor/">Erin O’Connor</a>, <a href="https://www.linkedin.com/in/eziethen/">Emily Ziethen</a>, <a href="https://www.linkedin.com/in/neetesh-dohare-2906b978/">Neteesh Dohare</a>, <a href="https://www.linkedin.com/in/praghuwanshi/">Prasoon Raghuwanshi</a>, Lulit Negash, <a href="https://www.linkedin.com/in/renatamakhoul/">Renata Makhoul</a>, <a href="https://www.linkedin.com/in/yoseph-getachew-98184366/">Yoseph Getachew</a>, <a href="https://www.linkedin.com/in/tsegamlak-solomon-921175a2/">Tsegamlak Solomon</a>, <a href="https://www.linkedin.com/in/kirsten-newman-10301aa7/">Kirsten Newman</a>, Teddy Fantahun, <a href="https://www.linkedin.com/in/dagmawit-shiferaw-8665943b/">Dagmawit Shiferaw</a>, <a href="https://www.linkedin.com/in/filseta-asrat-4b5615158/">Filseta Asrat</a>, <a href="https://www.linkedin.com/in/mary-adoi-0317b0b8/">Mary Adoi</a> &nbsp;