<h1 style="text-align:center;">RENEW Hosts Impact Investing Luncheon in Utah</h1>Last week, two of RENEW’s partners traveled to Salt Lake City, Utah to meet with local business and community leaders. While visiting, the RENEW team hosted a luncheon to discuss impact investing, angel investing and the U.S. government’s policies and viewpoints on Africa’s private sector.The luncheon opened with a<figure class="image"><img src="/uploads/photo_2_2_c8b88d3cee.jpg"></figure> greeting from Matt Davis, founder and CEO of RENEW, after which he introduced the event’s honored guest, Devin Thorpe. Devin is an <a href="http://devinthorpe.com/author">author</a> and advisor based in Utah who focuses on helping individuals who are “doing good” in the world. He calls himself a "champion of social good”, and as a <a href="http://www.forbes.com/sites/devinthorpe/">Forbes</a> contributor, he covers stories regarding social entrepreneurship and impact investing. During the luncheon, Devin shared his own personal viewpoint on impact investing and how it relates to Utah.For Devin, it’s an exciting and dynamic space to be in because “people with old investment strategies are joining the impact investing movement, and new money is actually coming in to the field.” This space now not only includes the individual investor, but family offices, foundations and institutional investors as well.Matt closed the event by challenging the group to think differently about Africa, as it has moved beyond the image that many of us typically think of when hearing the word, and by speaking about the power of business to achieve a greater good. Overall, it was an encouraging and exciting event - one that has inspired RENEW to pursue launching a new chapter of the Impact Angel Network in Salt Lake City.Matt remarked, “As a Ute, I believe Utah should be a leader in the impact investment space because, 1) we understand ethical capitalism, 2) we are global, and 3) we are entrepreneurial.” RENEW feels that our nation needs more Utah leaders like Jim Sorenson, renowned entrepreneur and founder of the James Lee Sorenson Global Impact Investing Center <a href="http://sgiicenter.com/jim-sorenson/">(SGII)</a>, to venture across the world and bring the concept of U.S. businesses to countries like Ethiopia.<figure class="image"><img src="/uploads/photo_3_2_4e736f3a2b.jpg"></figure>

Two of RENEW's partners traveled to Salt Lake City and met with local business leaders

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RENEW Hosts Impact Investing Luncheon in Utah

<h1 style="text-align:center;">35 Years from 300 Miles Up - What's Changed in Addis Ababa?</h1>NASA recently released almost 3 million photographs of Earth, which were taken over the course of 17 years from just beyond the outer limits of our atmosphere in space by the Advanced Spaceborne Thermal Emission and Reflection Radiometer satellite (or ASTER for short).* So what does outer space have to do with Ethiopia or investing?The World Economic Forum combed through the massive collection of images and pulled out six of the best photographs, and the capital of Ethiopia, Addis Ababa, is one of them! The photograph of Addis is listed among several others that portray man-made and natural phenomenon, like the Great Wall of China or the rainforests of South America.<figure class="image"><img src="/uploads/addis_ababa_outer_space_01_6ddcead63d.jpg"></figure>What is unique about this photo is that the top image shows what Addis Ababa’s urban development looked like in 1973 (from satellite Landsat MMS) versus what the city looked like in 2007. Clearly, the capital of Ethiopia has undergone serious growth and rapid urbanization over the past 35 years, and this comes as no surprise to RENEW.Ethiopia is considered to be one of the fastest growing countries on the continent of Africa and in the world, with double-digit annual GPD growth over the past decade (at 10.8% per annum) and an ever-increasing population (of 95 million people).** The country is quickly becoming a rising star in the region and is ripe with investment opportunities in many key sectors - a fact that is not lost on institutional and angel investors, like RENEW’s Impact Angel Network.With support from outside investors and the Ethiopian government’s Growth and Transformation Plan II, which seeks to make Ethiopia a lower-middle income country by 2025 through economic growth, industrialization and structural transformation, the country’s entrepreneurs and innovators are ready to step in and place Ethiopia on this path of development.We can’t wait to see what Ethiopia and Addis Ababa look like from space in another 35 years - we think it will be a beacon of light that rivals that of any major U.S. city.*<a href="https://www.weforum.org/agenda/2016/04/nasa-has-released-3-million-images-of-earth-these-are-6-of-the-best?utm_content=buffera043c&amp;utm_medium=social&amp;utm_source=linkedin.com&amp;utm_campaign=buffer">World Economic Forum</a> **<a href="http://www.afdb.org/en/countries/east-africa/ethiopia/ethiopia-economic-outlook/">Africa Development Bank Group</a>

NASA satellite captures the city's rapid development and urbanization over 35 years

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35 Years from 300 Miles Up - What's Changed in Addis Ababa?

<h1 style="text-align:center;">A Weekend of Connections, Discussion and Positive Impact</h1>This past weekend, members of the Impact Angel Network (IAN) and distinguished guests met in Washington, D.C. for the second annual National Gathering, which was filled with introductions, connections, and meaningful discussion on how conscious capitalists can change how the West views Africa.The weekend event commenced on Friday evening with a dinner and discussion at the Cosmos Club. Guests mingled and enjoyed cocktails in the East Garden, and then moved into the Club's Warne Ballroom to hear global economist, New York Times bestselling author and TEDTalk speaker - <a href="http://dambisamoyo.com/">Dr. Dambisa Moyo</a> - shared insights on investing, opportunities and major economic shifts that are occurring in developing markets, like Ethiopia.<figure class="image"><img src="/uploads/2nd_annual_national_gathering3_6679e06676.jpg"></figure>In line with the weekend’s theme of sharing real stories of impact, entrepreneurship and innovation, the evening continued as members and guests alike shared their personal stories and experiences with impact investing, development, and Ethiopia (<a href="https://twitter.com/hashtag/whatsyourstory">#WhatsYourStory</a>). Ambassador Girma Birru opened dinner, encouraging attendees to continue seeing the economic growth potential that SMEs have in Ethiopia. Hussein Hirji, Economic Counselor of the Canadian Embassy, spoke to the unique public-private model that Global Affairs Canada is implementing in Ethiopia in partnership with RENEW.The night concluded with Miraf Hailu, deputy-manager of <a href="http://www.mama-fresh.com/">Mama Fresh Injera</a>, sharing about the beginning of RENEW and the IAN’s relationship with the company and just how far they’ve come. Starting in an outdated bakery to becoming a leading injera export manufacturing facility that is positively impacting the local community through job creation and tax revenue. It was a truly inspiring story of growth, opportunity and impact!On Saturday morning, IAN Chapter Chair David Grizzle and his wife Anne hosted network members for a morning of learning and review. RENEW went over the current status of each of the IAN portfolio companies including progress made to date, challenges and opportunities, and the plans going forward. All members participated in a lively discussion to brainstorm ideas on how the IAN can add more value to our portfolio. Guests were given a little taste of Ethiopia by participating in a traditional Ethiopian coffee ceremony.The weekend concluded with the investment pipeline dinner, hosted by IAN Chapter Chair, Dr. Andrew Umhau and his wife Cary. During this relaxed evening of community and fellowship, the RENEW team provided important updates on the network's investment pipeline, while guests were able to sample some Mama Fresh’s delicious Ethiopian cuisine - truly, home cooking at its finest!The RENEW team would like to thank Dr. Dambisa Moyo, Ambassador Girma Birru, and the <a href="https://renewcapital.com/impact-angel-network/advisory-board">IAN advisory board chairs</a>, Dr. Andrew Umhau, David Grizzle, Jeff and Donna Turi, Alan Gardner, Beth and Joel Marquette and Jodi Morris, and the staff of the Cosmos Club for helping deliver an unforgettable event. We also thank the members of the IAN and their families for coming to D.C. for a memorable fall weekend.

RENEW and the Impact Angel Network host the second annual National Gathering.

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A Weekend of Connections, Discussion and Positive Impact

<h1 style="text-align:center;">Meet us in D.C. October 27!</h1>Join us on Friday, October 27 in Washington D.C. for an evening filled with real stories about RENEW and the <a href=" https://www.renewcapital.com/investing">Impact Angel Network</a>. Learn about what we’re up to in Ethiopia and enjoy great food and conversations with other conscious capitalists. Special guests include <a href="http://marcussamuelsson.com/">Marcus Samuelsson</a>,&nbsp;an Ethiopian-born, Swedish-raised chef who has&nbsp;been featured on Anthony Bourdain's Parts Unknown and Iron Chef America.&nbsp;Make sure to reserve your spots for the Impact Angel Network’s National Gathering. Special pricing ends soon.<a href="https://2017-impact-angel-network-national-gathering.eventbrite.com/">Purchase your tickets here</a>Have additional questions? Contact Erin O’Connor at <a href="mailto:eoconnor@renewcapital.com?Subject=National%20Gathering">eoconnor@renewcapital.com</a> or (416) 998-0058 for more information.<figure class="image"><img src="/uploads/ngcollage_0_59dc04c624.jpg"></figure>

Attend the largest Africa-focused angel investment event in North America. 

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Meet us in D.C. October 27!

<h1 style="text-align:center;">What Do the SDGs Have to Do With Me?</h1>Have you heard people throwing around the term Sustainable Development Goals or SDGs and wondered what it’s all about? Is it just meaningless development jargon, or is there something more to the United Nations efforts of setting an audacious goal and getting stakeholders headed in one direction? Keep reading for a synopsis of the goals and for information on what goals the IAN’s work is contributing to.Just over a year and a half ago, on January 1, 2016 <a href="https://sustainabledevelopment.un.org/?menu=1300">the Sustainable Development Goals</a> (SDGs) of the 2030 Agenda for Sustainable Development came into effect during the UN Sustainable Development Summit at the UN Headquarters in New York. These goals, set for 15 years with a completion date of 2030 call for all countries and various stakeholders, whether rich, poor or middle-income, to encourage prosperity while at the same time protecting the planet. The 17 goals set out by the United Nations are a call for all countries to help improve the circumstances and lives of people around the world. These goals, though not legally binding to a country, have been adopted by 193 nations with the expectation that leaders and governments will take ownership and establish ways to monitor and achieve them in their homelands.Prior to the SDGs, there were a set of goals known as the Millennium Development Goals (MDGs), which expired in 2015. To their credit, the MDGs became a strong point of interest for Governments and a way for NGOs to hold them accountable. The 8 goals were often criticized for being too narrow and many believed they didn’t consider the core issues of poverty and missed gender inequality, human rights and economic development. While these goals were intended to be applied around the world, they ended up as targets for poorer counties, while continuing the age-old dependency and financing from wealthier states. The MDGs were very specific and measurable, however, that was also their largest criticism. Since they were so specific, it left out several other important issues. This criticism led to the creation of the SDGs.<figure class="image image_resized" style="width:99.68%;"><img src="/uploads/miillenium_goals_0be4ab1ccc.png"><figcaption>Source: <a href="http://www.un.org/en/africa/osaa/peace/mdgs">OSAA: Millennium Development Goals</a></figcaption></figure>To rectify the MDGs, the United Nations undertook the largest consultation in the UN’s history; surveying 5 million people in 88 counties to find out their goals and visions for the world in 2030. The new goals, which include 169 specific targets touched on things such as: no poverty, zero hunger, quality education, decent work and economic growth, reducing inequalities, and clean water and sanitation, to name a few. These goals acknowledge that to end poverty, there must be strategies in place that help build up the economy while simultaneously addressing a large range of social and environmental needs and issues.Though they can seem high and lofty, the SDGs, now in year 2, have made some progress towards their 2030 goals. Many believe all the small steps will aid in pushing these goals forward. Recently, in July 2017, the United Nations released a report entitled <a href="https://unstats.un.org/sdgs/files/report/2017/secretary-general-sdg-report-2017--EN.pdf">Progress Towards the Sustainable Development Goals</a>. This report gives a high-level analysis of the progress made towards achieving the 17 goals, based on data that was available April 2017. If you have a few minutes, we recommend you read the report to see where the goals currently stand.<figure class="image"><img src="/uploads/screen_shot_2017_08_30_at_10_20_36_am_cd9c0cd8da.png"><figcaption>Source: <a href="https://sustainabledevelopment.un.org/?menu=1300">Sustainable Development Knowledge Platform</a></figcaption></figure>The SDG’s and Impact InvestingNot surprisingly, impact investors globally are using the SDGs to benchmark their investments. A recent report put out by InvestorFlow (an impact investor network) investigated impact investor’s preferences related to the goals. They found that their network had strong preferences towards: Goal 1 (no poverty), goal 3 (good health), goal 6 (clean water), and goal 7 (affordable and clean energy). The goals that were least tangible for the group included goal 14 (life in water), goal 15 (life in land), and goal 16 (peace, justice and strong institutions). The top preferred goals highlights people’s desire to contribute towards healthy and prospering economies and livable cities.The SDG’s and RENEWMuch of the work that impact investors do can be counted towards the SDGs. Hopefully it’s not to irreverent to say “it’s the economy stupid.” I can honestly say I feel like the work of the IAN can be counted in a small way (currently – but watch out world) towards 15 of the 17 goals. Don’t worry, I won’t go into the gory details, but let’s dig in deeper on a few goals that directly relate to our work:Goal 8: Decent Work and Economic GrowthOne important aspect of sustainable economic growth is a nation’s ability to create high quality jobs while at the same time bolstering the economy. To count towards the goal, jobs of course need to include good working conditions. To date, this has been an important part of RENEW’s investments: creating and bolstering jobs and helping our entrepreneurs to grow their businesses, while encouraging good working conditions for their workers.As of December 31, 2016, the IAN has created or sustained 1,490 jobs, and our companies work with 4,300 smallholder farmers. To our first point, I believe it goes without saying that a person with a job has better access to health care, clean water and education for his or herself and the family, but we’ll let that point rest for now.Goal 17: Partnerships for the GoalsIt’s been noted that one of the ways to achieve the SDGs is through partners; multistakeholder partners, governments, NGOs, and the private sector. All these groups and different partnership models have been called the glue that will hold this agenda together, and will be the reason these goals are seen through and met.On the United Nation’s website, it outlines what is needed with goal 17. “Urgent action is needed to mobilize, redirect and unlock the transformative power of trillions of dollars of private resources to deliver on sustainable development objectives. Long-term investments, including foreign direct investments, are needed in critical sectors, especially in developing countries”. With every new investment made, through RENEW and other similar vehicles, we’re pushing this goal forward and helping to make these goals a reality. And we are doing it through partnerships. Partnerships with angel investors, the development community and local entrepreneurs.While the SDG’s are audacious, let’s not forget, setting audacious goals are a big part of achieving alignment and success in the world of entrepreneurship. We all play a role. We all believe the world would be a better place, if we accomplish them. So watch out world, RENEW and the IAN are playing our part.Read more about the Impact Angel Network and RENEW’s portfolio and the companies we currently invest in on our website.<hr>Sources: (1) <a href="https://sustainabledevelopment.un.org/?menu=1300">Sustainable Development Knowledge Platform</a> (2) <a href="https://www.theguardian.com/global-development/2015/jan/19/sustainable-development-goals-united-nations">Sustainable Development Goals: All You Need To Know</a> (3) <a href="https://www.weforum.org/agenda/2015/09/what-are-the-sustainable-development-goals/">What Are the Sustainable Development Goals?</a> (4) Which of the 17 U.N. Global Goals do Impact Investors Prefer?

A closer look at the UN’s Sustainable Development Goals

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What Do the SDGs Have to Do With Me?

<h1 style="text-align:center;">The Africa Investment Report 2017</h1>2017 marks the rise of China as the largest investor in Africa, in terms of capital. Even though the number of greenfield FDI projects has decreased in 2017, total capital invested increased by 40% compared to the previous year. The largest proportion went to construction and real estate - representing a shift from the traditional extractive sectors.<figure class="image image-style-align-center image_resized" style="width:49.69%;"><a href="file:///D:/RENEW%20STRATEGIES%20WEBSITE%20CATALOG/renewcapital.com/sites/default/files/screen_shot_2017-10-04_at_8.49.14_am_0.png"><img src="/uploads/screen_shot_2017_10_04_at_8_49_14_am_0_d38ead8980.png"></a></figure>It was also the year in which Ethiopia, Cote D’Ivoire, Tanzania and Senegal have all grown well above 6%, while Nigeria and South Africa witnessed poor economic performance.We selected some of the highlights from The Africa Investment Report 2017, from This is Africa, a publication from the Financial Times.Highlights:<ul><li>40% of announced greenfield FDI into Africa last year went into real estate with the same proportion being invested in construction. This is a shift from previous years, in which extractive sectors were at the top of African FDI charts, mainly attributed to a decline in commodity prices.</li><li>Construction together with manufacturing accounted for 62% of total capital investment</li><li>The top 10 destination countries for FDI into Africa accounted for 78% of the total number of projects into the region and 91% of the total capital invested.</li><li>According to the World Economic Outlook, International Monetary Fund, Ethiopia is expected to grow 7.5% on capital investments in each of the next two years, leading the ranking.</li><li>In total, 470 companies invested in Africa in 2016, down from 506 in 2015.</li></ul>The rapid growth in urbanization is probably the most important factor when considering the bullish outlook on Africa; it’s urban population is expanding by 15 million a year. Global private equity and sovereign wealth funds are pouring billions of dollars into business and industrial parks, retails complexes, logistics facilities and housing across the continent, in an attempt to capture the attractive returns presented.Investing in Africa is not straightforward, and the same challenges persists – delays and unclear regulatory environment, to name a few. However, foreign investors can do well when taking calculated risks and thinking creatively about the destinations of their capital.You can download the full report <a href="http://forms.fdiintelligence.com/africainvestmentreport/">here</a>.&nbsp;

A Review on the Report published by This is Africa

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The Africa Investment Report 2017

<h1 style="text-align:center;">The State of Private Equity and Venture Capital Sector in East Africa</h1>The private equity and venture capital sector has been growing sharply in East Africa. The number of firms in this space doubled in 2015 and 2016, as well as funds raised for East Africa investments, have also increased. There was an estimated total of USD 1.1billion raised for private equity investment in East Africa for the past two years.The region has seen impressive growth in the number of strong private enterprises with scalable business models and we have seen a growing appreciation on the strategic value of private equity investments. Especially with second generation business leaders who are eager to scale their businesses to the next level of growth, as we can observe in RENEW’s portfolio companies such as Mama Fresh.East Africa has presented positive economic growth over the last years, and Ethiopia is certainly leading this growth trends. According to the most recent African Economic Outlook 2017, published by the African Development Bank Group ADBG “FDI should increase slightly in 2017, but remain volatile due to domestic and global risks FDI flows to Africa are expected to grow by about 2% in 2017, reaching USD 57.5 billion. Ethiopia is expected to be one of the largest (USD 4.4 billion).” KPMG and EAVCA recently surveyed 28 private equity and venture capital funds with activities in East African Countries. Here are some of the highlights from the report published this month: &nbsp;<ul><li>A total of 115 PE-backed deals in East Africa have been reported by respondents from 2007 to 2016 (36 were reported from 2015 to 2016), with an estimated value of over USD 1.4 billion (USD 600 million for the 36 deals in 2015 to 2016).&nbsp; &nbsp;</li><li>Increase in the average investment size grew to USD 17 million in 2015 to 2016 from USD 10 million as per the 2014 Survey.&nbsp; &nbsp;</li><li>An increased number of exits over the last two years. &nbsp;</li><li>There has also been a shift in exits method - &nbsp;7&nbsp;of the 34 exits have been through secondary exits to financial investors and 13 through sale to strategic investors. There has been a decline in the share buyback method from 11 in 2007 to 2014 to 2 in 2015 and 2016. &nbsp;</li><li>Of the responses received, the average reported actual IRR has been 19%, 3% lower compared to a target IRR of 22%.</li></ul>&nbsp;As PE activities increase in East Africa, the region still presents many opportunities. The number of PE deals recorded in the region has steadily risen over the years and investors foresee new opportunities in rapidly expanding markets, including Ethiopia and Tanzania, which should replace more traditionally favored destinations such as Kenya.Please see the link to the full report:&nbsp;<a href="http://eavca.org/2017_KPMG_and_EAVCA_Private_Equity_in_East_Africa_Survey_Final.pdf"> KPMG and EAVCA Private Equity in East Africa Survey Final 2017</a> &nbsp;

Highlights of the recent survey published by KPMG and EAVCA

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The State of Private Equity and Venture Capital Sector in East Africa

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

Event will feature celebrity chef & stories of impact

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

<h1 style="text-align:center;">National Gathering: Thank you for the support!</h1>The 2017 Impact Angel Network National Gathering is taking place this weekend in Washington D.C.! The Embassy of Canada has graciously offered to host us at their beautiful venue located on the corner of Pennsylvania Avenue and 5th street, a stone’s throw from the US Capitol.The National Gathering is a unique event. First, we believe it is the largest Africa-focused impact angel investing event in Washington, D.C. Next, it will attract some of the brightest, action-oriented minds in the impact investment space. Contrary to your typical D.C. gala event, this one will focus on results, transparency and honest dialogue about how North American investors are putting money to work in real companies, and creating tangible impact and returns. And if that doesn’t interest you, the menu curated by Celebrity Chef Marcus Samuelsson should be enough to attract even the most seasoned D.C. socialites.We can’t wait for Friday and the mouthwatering food, great conversations and networking with like-minded individuals and industry experts.We would also like to thank several of our partners, that have helped make this event possible; true change agents – doers – people that walk the walk. With their support, we have been able to make this the largest National Gathering to date!<ul><li><a href="http://www.international.gc.ca/international/index.aspx?lang=eng">Global Affairs Canada</a> and the Embassy of Canada in Washington D.C.<ul><li><a href="http://www.veriswp.com/">Veris Wealth Partners</a><ul><li><a href="http://limalimolodge.com/">Limalimo Lodge in Ethiopia</a></li></ul></li></ul></li></ul><figure class="image"><img src="/uploads/sponsor_logos_0_b8333863c6.png"></figure>Much creativity went into the National Gathering menu for this year! A gracious thank you to...Marcus Samuelsson and team for curating the menu The Embassy of Canada's chefs for contributing flavours and skills Mama Fresh Injera PLC for the spices and injera for the menu Andrew Umhau, M.D. for the Impact Investor Cocktail Metad for the coffee, roasted by Qualia in D.C. &nbsp;

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