<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, 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>

The first blog in a mini-series on gender equality and women in finance

Gender Equality

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Gender Equality and Women in the Workforce Mini-Series: Blog 1

<h1 style="text-align:center;">Gender Equality and Women in the Workforce Mini-Series: Blog 2</h1>Blogging is not my favorite thing in the world, much less talking about topics to which I feel like I have not dedicated enough time to fully develop a compelling position. So with that as a caveat, I will own it. I do have something to say about my own journey as a female entrepreneur in the male dominated space of private equity. I sit at the intersection of a lot of spaces: private equity, economic development, impact investing, angel investing, Africa, and entrepreneurship. I’ve seen efforts that align with my sense of true north related to female economic empowerment and equality and also efforts I find infuriating, such as well-meaning but poorly branded development efforts that lump female and youth entrepreneurs together, for example. What the hell? As if I, a female, can’t have a world changing, scalable idea. Offense aside, let’s focus on the opportunity side of being a female entrepreneur and maximizing our unique strengths in the private equity space.United States to Afghanistan to Ethiopia – I’ve learned so much about the role of women and economic empowerment within the context of these very diverse cultural situations. In the United States, we have a tendency to see the genders as equal and the same. In Afghanistan, it was, unfortunately, clear that the struggle is often a belief that the genders are different and unequal. Some females there encouraged me to flaunt my Western freedoms. But I had a job to do, so I decided to do my best to adopt the cultural norms. Here in Ethiopia, at least among the educated, it feels like the prevailing thought is more aligned with my own belief about gender: We are different and equal. That being said, I am not naïve enough to think that this would be my reality if I was a rural female farmer in Ethiopia. No matter the prevailing cultural norms, my advice is to respect the cultural context and choose your battles wisely.<figure class="image"><img src="/uploads/dsc_0157_chada_2_b6ba1d7979.jpg"></figure>“You don’t know what she’s going through.” – Once, as I was lamenting a female entrepreneur falling off our radar (discontinuing responding to emails and calls), someone here in Ethiopia warned that I had “no idea the circumstances that might be on the entrepreneur’s shoulders”, and that I should give her another chance. I think she was right. Here in Ethiopia, and frankly in most parts of the world, certain family obligations fall more completely on the shoulders of wives and daughters, and it is our duty to keep these cultural nuances in mind as we conduct business internationally. I still think about this encounter, and hope this plucky, gutsy young female entrepreneur comes back on my radar. I think she may have what it takes to be a world changer.Focus on the advantages – It’s so easy as humans, no matter our gender, to dwell on our disadvantages. My own experience as a female entrepreneur has proven we provide certain advantages that men in this industry generally struggle with. For example, entrepreneurs initially tend to be more comfortable sharing about their businesses with me than some of my male counterparts. Another is that my “female intuition” is usually spot on when it comes to assessing a person, or situation, or investment opportunity. Us women just have that sixth sense, if you know what I mean. However, some days I can still get discouraged in the unique challenges I face as a woman, but when I can stop myself and persist through the challenges, the outcomes our powerful and rewarding. I plan to continue leveraging my voice for all it is worth. Regardless of gender, that’s what winners do!<figure class="image"><img src="/uploads/img_e9230_6cfe23d931.jpg"></figure>In summary, finding a position and supporting efforts that support gender equality and female economic empowerment are great. But in my opinion, we all walk a fine line in developing efforts that bring dignity and enlarging the issues we are trying to overcome. I am not sure we have it quite right yet, but some of our current efforts at RENEW include:<ul><li>Establishing a quarterly Women in Finance Roundtable in Ethiopia! Read about our first. I was so inspired by our guest, Berhane Demissie.</li><li>We are supporting 1,523 female jobs across our portfolio, which is 73% of the total.</li><li>Our first cohort of CFO100 consisted of 13 females, good for 54% of the group. We are aiming for similar numbers for our second group beginning in 2018.</li><li>We encourage our executives to pursue a diverse leadership team. Currently, 50% of our portfolio companies are partly owned by women.</li></ul>

A female partner’s position: different and equal

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Gender Equality and Women in the Workforce Mini-Series: Blog 2

<h1 style="text-align:center;">June Investor Trip</h1>In June, RENEW partners Matt &amp; Laura Davis packed their bags and took off for a week-long investor trip to the Midwest, with stops in Minneapolis, Chicago and Grand Rapids. It was a busy week filled with a number of meetings and two lunch events. The trip was a great opportunity for the partners to visit with Impact Angel Network members and others interested in RENEW's work in Ethiopia.<figure class="image"><img src="/uploads/investortrip_88a1bb0328.jpg"></figure>Here are some of the trip highlights:<ul><li>The first stop on the week-long trip was Minneapolis. RENEW hosted an informative lunch event at the Oceanaire Seafood Room, supported by IAN Member Beth Marquette, and RENEW supporter Kelsey Rahm. The lunch spurred a lively question and answer period and allowed us to share some great information about investing in Ethiopia.</li><li>Also in Minneapolis, we were able to meet with 3 of our Minneapolis-based IAN Members. It was great to catch up and we enjoyed all your input at our event!</li><li>In Chicago, we hosted our second lunch event of the trip and had a great turnout! The lunch was hosted at 312 Chicago, a restaurant in the Theatre District of Chicago. It was a great opportunity to share about RENEW’s Impact Angel Network and the work we’re doing in Africa. A big thanks to IAN Members Jeff Turi, Jodi Morris and John Trapnell for their support with this event.</li></ul>Thank you to everyone who has helped make our June trip so successful! We’re currently planning our fall trips, so keep your eyes peeled for the dates and locations in the upcoming month.

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June Investor Trip

<h1 style="text-align:center;">2017 is Over? Enjoy Some of Our Favorite Photos</h1>As we stand on the brink of a new year, it’s one of our habits at RENEW to look back at the milestones we passed over the last 12 months. So with a nod towards the challenges inherent in our work and a grateful acknowledgment to our team for their dedication to being trailblazers, here are some of the highlight for RENEW in 2017.<ul><li>January –&nbsp;We started the year with our annual partners planning&nbsp;session&nbsp;in Colorado. It was a snowy and productive time in the mountains.</li><li>February –&nbsp;We had&nbsp;a great Econ-Tourism Trip in Ethiopia. We also traveled to Gheralta to experience Ethiopia's ancient&nbsp;ruins, and conducted a private equity seminar in Mekele. If you haven’t been to Gheralta, put it on your list!</li><li>March –&nbsp;We met with investors in&nbsp;New York City, Toronto, and&nbsp;Vancouver to share about impact investing and helping SMEs access finance in Ethiopia through The Exchange.&nbsp;The Ethiopia team also conducted a private equity seminar in Dire Dawa.</li><li>April –&nbsp;We traveled&nbsp;to Seattle, SFO, Denver&nbsp;and&nbsp;Delaware for more meetings with investors. Phew, we spend a lot of time on planes. Several members of RENEW’s international team got their feet wet with on the ground work in Ethiopia.</li><li>May –&nbsp;We started two training programs that were a long time in the making. We rolled out our first cohorts for the CFO100 and The Exec’s Program. Each ran for three months. Additionally, throughout the year, we trained around 250 companies on private equity in Addis and other cities. A new cohort for CFO100 starts in January 2018, so let us know if you are interested.</li><li>June –&nbsp;We did a lot of training and portfolio management work.</li><li>July –&nbsp;RENEW’s Impact Angel Network crossed the 100-member mark!</li><li>August –&nbsp;We finished the CFO100 and The Exec's Program.</li><li>September –&nbsp;We hosted another great group for an Econ-Tourism Trip.</li><li>October&nbsp;–&nbsp;Was our third National Gathering! This year it was held at the Embassy of Canada in DC with special guest Marcus Samuellson.</li><li>November –&nbsp;RENEW and the IAN became the most active private equity investor in&nbsp;Ethiopia,&nbsp;when we closed our 9th investment in our 8th company: Roadrunner Technologies, a partner to Deliver Addis. Go Feleg! The Ethiopia team also conducted a private equity seminar in Dire Dawa.</li><li>December –&nbsp;We finished the year the way we started it, with a snowy planning session in Colorado and gearing up for a big 2018. We also celebrated with some distributions from companies and a lot of annual planning work across our portfolio.</li></ul>Overall, we saw growth in our portfolio, and our companies supported more than 2,000 jobs. Throughout the year, we enjoyed connecting with members of the Impact Angel Network in Ethiopia and around the world.&nbsp;We are grateful to our partners in Ethiopia and the Government of Canada who make&nbsp;our work in Ethiopia possible, and to the inspirational entrepreneurs leading our companies. &nbsp;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 big 2018.Matthew Davis, Tom Scriven, Laura Davis, Tristan Pelham-Webb, Justin Reesor, Erin O’Connor, Neteesh Dohare, Prasoon Raghuwanshi, Sandy Hung, Lulit Negash, Teshager Demissie, Renata Makhoul , Yoseph Getachew, Tsegamlak Solomon<figure class="image"><img src="/uploads/dsc_0685_animation_2_8f8ef58d76.gif"></figure>

Investing in Africa