<h1 style="text-align:center;">Econ-Tourism Trips: Where Indiana Jones Meets Warren Buffett</h1>Over the years, I have hosted hundreds of investors in Ethiopia. One would think it could get monotonous, but it never does. More and more, high-net-worth individuals and families are signing up to become impact investors and choosing this as a more sustainable strategy for creating impact in Africa over more traditional charity models. Our role is to help them make good decisions and to oversee their investments on the ground. Our strategy is to find, vet and present the best small and medium enterprises (SMEs) in Africa to our growing network of global change agents, called the Impact Angel Network (IAN). Each investor has a fascinating "journey of impact" that brings them to consider the idea of investing in Africa's future. It's amazing to hear their personal stories as we walk through factories, hear pitches from women-led companies, sit with employees of companies our investors have backed, and drive around the bustling cities of Addis and Kampala.Many trip participants have "aha" moments during these visits and take another step forward in developing a new framework around Africa's economic potential for financial returns and social impact. For me, each trip we host and every story I hear brings me back to the moment I realized the future we must be part of on the continent of Africa is building the private sector. Having investors in town also provides a concentrated time for me to have my own "aha" moments over and over again. The private sector needs to keep pace with the millions of youth that are entering the workforce each year. In Sub-Saharan Africa, more than 60% of the population is under the age of 25, and around 15 to 20 million well-educated young people are expected to join the workforce every year for the next three decades (World Economic Forum, 2017). The private sector needs to grow, and grow fast, and everyone needs to take part in making this happen or all of our efforts will be swept away with rising unemployment rates. But to watch hundreds of workers making things like yogurt, bread, shoelaces, toothpicks, tee-shirts, juice...I have hope. One business at a time, we can create thousands of jobs and a thriving economy.<figure class="image"><img src="/uploads/img_e6341_animation_9d2836eddf.gif"></figure>And there is an exciting upside to this story. By 2025, it is projected that almost two-thirds of the 303 million households in Africa will have discretionary income, an addition of almost 90 million consumers in a decade. This growth is expected to push Africa’s GDP growth from 4.9% to 6.2% in the next 10 years, outpacing the global GDP rate of 3.7% (McKinsey, 2015). Smart investors are seeing the "Made in Africa" brand as the next big thing. Indigenous companies, industrious entrepreneurs, creating products with features that appeal to their domestic markets at a price-point that works with the economy; that's a great opportunity. This both gives me hope and gets me excited as an impact investor.As I walk around the companies we have invested in - I am proud to say I have backed ten companies here in Ethiopia - it's with great pride that I observe the women our companies are employing and know that each one likely supports multiple people in her household and that their living conditions are improving. She's hopefully having better access to clean water, healthcare and education because she has a job.We recently had several members of the Impact Angel Network in Addis Ababa and the time was full of good conversations and observations. During the Econ-Tourism Trip, we saw 4 portfolio and 9 pipeline companies. My partner and husband, Matthew Davis, then took several of them on to Uganda where they spent a day meeting several more companies we are considering for investment.Africa's private sector is the future. We all need to get behind it and play a role in supporting local companies grow into big ones and create millions of jobs to absorb the youth that will be entering the workforce. I encourage you all to come see what is happening here in Africa. Think different. See the future. Grow a company, build a nation and leave a legacy. This is the mission statement of the Impact Angel Network. If you are on a journey to witness firsthand and potentially invest in Africa's economic potential, we invite you to join us in Ethiopia for the next Econ-Tourism Trip October 27 - November 2, 2019.****Please note: Specific investment opportunities are made available only to “accredited investors” after completing the Impact Angel Network registration and onboarding process and following a waiting period.<hr>Sources:World Economic Forum (May 2017). The Future of Jobs and Skills in Africa. Retrieved from: <a href="http://www3.weforum.org/docs/WEF_EGW_FOJ_Africa.pdf">http://www3.weforum.org/docs/WEF_EGW_FOJ_Africa.pdf</a>McKinsey &amp; Company (July 2015). Winning in Africa’s Consumer Market. Retrieved from: <a href="https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/winning-in-africas-consumer-market">https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/winning-in-africas-consumer-market</a>

Join us for our next Econ-Tourism Trip from October 27 - November 2, 2019.

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Econ-Tourism Trips: Where Indiana Jones Meets Warren Buffett

<h1 style="text-align:center;">2019 International Gathering - Thank You to our Sponsors!</h1>On May 17, 2019, the IAN’s <a href="https://www.renewcapital.com/resources/blogs/Press%20Release%20%202019%20International%20Gathering">International Gathering</a> will convene members and guests to explore the dynamic investing landscape in sub-Saharan Africa through the lens of SME investing. For the second time, guests will spend the evening at the beautiful Embassy of Canada in Washington, D.C., overlooking the Capitol Building. For the past three years, RENEW has partnered with <a href="https://www.canada.ca/en.html">Global Affairs Canada</a> through our work under our <a href="https://w05.international.gc.ca/projectbrowser-banqueprojets/project-projet/details/D002584001">Accelerating Business Growth</a> (ABG) program. We are grateful for the support from the Embassy of Canada and Global Affairs Canada for co-hosting this memorable event with us.We’d also like to highlight all our sponsors who are helping to make this International Gathering the best one yet:<ul><li><a href="https://www.faegrebd.com/en">Faegre Baker Daniels</a>: Faegre Baker Daniels (FaegreBD), our Platinum Sponsor, is one of the 75 largest law firms headquartered in the U.S., with locations that span coast to coast and also cover the U.K. and China. Their offices collaborate to achieve clients’ objectives - bringing together the best-matched expertise and resources from across their global platform. FaegreBD’s legal and consulting professionals partner with clients ranging from emerging startups to multinational corporations, delivering full-service advice customized to each company’s business needs.</li><li><a href="https://kanterpr.com/">KANTER</a>: KANTER is a public relations firm for the investment management industry. They help a variety of investment firms build their brands and become better known through meaningful and high-quality press, as well as a continuous presence in the media. Kanter is led by <a href="https://www.linkedin.com/in/victoria-odinotska-7b2a025/">Victoria Odinotska</a>, a member of the Impact Angel Network.</li><li><a href="http://enlightenmentwines.com/">Enlightenment Wines</a>: Enlightenment Wines started out as a small, part-time farm winery in 2009 by Raphael Lyon. In 2015, Lyon reached out to <a href="https://www.linkedin.com/in/anthony-rock-14322082/">Anthony Rock</a> (a member of the Impact Angel Network) and Arley Marks with the intent to join forces and grow Enlightenment Wines into a full-scale production meadery with a tasting room and cocktail bar named Honey’s in Brooklyn New York. Since then, Enlightenment Wines has been focusing on small batch meads made with wild yeast, foraged herbs, and locally sourced fruit. These honey-based wines are dry (not sweet), barrel fermented, and released seasonally, and have been featured in the likes of <a href="https://www.gq.com/story/best-bars-america-2018">GQ</a> and <a href="https://www.newyorker.com/magazine/2017/10/16/the-magical-mead-of-honeys">The New Yorker</a>.</li><li><a href="https://limalimolodge.com/">LimaLimo Lodge</a>: Perched on the edge of the escarpment, Limalimo Lodge is a beautiful place to experience Ethiopia's Simien Mountains National Park. Combining simple luxury and elegant design in a stunning setting, the lodge promotes sustainable tourism with minimal environmental impact and provides new opportunities to the local community. The lodge has been featured in the likes of <a href="https://www.travelandleisure.com/slideshows/best-hotel-openings-worldwide">Travel + Leisure</a> and <a href="https://www.cntraveler.com/story/go-to-ethiopia-for-ancient-history-jazz-and-a-capital-city-on-the-rise">Conde Nast</a> for its minimalist-chic ambiance with staggering views. LimaLimo Lodge is owned in part by <a href="https://www.linkedin.com/in/lucas381/">Lucas Robinson</a>, a member of the Impact Angel Network.</li></ul>Interested in attending the <a href="https://www.renewcapital.com/resources/blogs/Press%20Release%20%202019%20International%20Gathering">2019 International Gathering</a>? Tickets can be purchased at the following <a href="https://www.eventbrite.com/e/renew-and-the-impact-angel-networks-2019-international-gathering-tickets-51562748569">link</a>. To learn more about sponsorship opportunities, please visit our <a href="https://www.renewcapital.com/what-we-do/investing">website</a>.<figure class="image"><img src="/uploads/sponsors_final_dd12330f28.png"></figure>

A thank you to those who are making this event possible.

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2019 International Gathering - Thank You to our Sponsors!

<h1 style="text-align:center;">Press Release: 2019 International Gathering</h1><a href="https://latest-api.renewcapital.com/uploads/RENEW_Press_Release_National_Gathering_0ab80728fc.pdf">Download the Full Press Release.</a>Washington, D.C. March 26, 2019 --The <a href="https://www.renewcapital.com/what-we-do/investing">Impact Angel Network</a> (IAN), a global angel network dedicated to investing in high-potential companies across the continent of Africa, has announced the IAN’s <a href="https://www.renewcapital.com/resources/blogs/2019%20International%20Gathering%20-%20Thank%20You%20to%20our%20Sponsors%20">2019 International Gathering</a>. This year, the Gathering will be held on May 17th, 2019 at the Embassy of Canada in Washington, D.C.The event’s keynote speaker will be <a href="https://www.carlyle.com/about-carlyle/team/david-m-rubenstein">David Rubenstein</a>, co-founder and co-executive chairman of the Carlyle Group. Join us for a fireside chat as he shares his story about building one of the world’s most successful private equity firms and how he views opportunities in Africa. Attendees will also interact with other special guests and dignitaries, and hear IAN members’ personal stories about how they help finance companies managed by smart and successful Ethiopian entrepreneurs for impact and financial returns.Organized by RENEW, an impact and investment advisory firm which manages IAN, the annual Gathering convenes IAN members and guests to explore the dynamic investment landscape in sub-Saharan Africa, through the lens of SME investing. Guests will spend the evening at the Embassy of Canada, overlooking the Capitol Building, with other like-minded individuals, business executives, thought leaders and experts in the impact and angel investing space. RENEW aims to elevate angel and impact investing and how the private sector is driving growth. The Gathering is a great opportunity to have important conversations related to impact investing and how we’re all contributing to an entrepreneurial culture on the continent and to Africa’s growth story.<figure class="image"><img src="/uploads/screen_shot_2019_03_28_at_3_19_00_pm_c99bbcfb0d.png"></figure>Tickets for the event are available until Monday, May 13th and can be purchased at <a href="https://2019-international-gathering.eventbrite.com/">this link</a>. For more information about sponsorship opportunities please visit our <a href="https://www.renewcapital.com/what-we-do/investing">website</a>. Additional events will be held exclusively for IAN members throughout the weekend. If you’re interested in learning more about the IAN or joining the network please visit the following <a href="https://www.renewcapital.com/apply">link</a>.We’d like to thank the following partners and sponsors for making the 2019 International Gathering possible: The Embassy of Canada (co-host), <a href="https://www.faegrebd.com/en">Faegre Baker Daniels</a> (platinum sponsor), <a href="https://limalimolodge.com/">LimaLimo Lodge</a>, <a href="http://enlightenmentwines.com/">Enlightenment Wines</a> and <a href="https://kanterpr.com/">KANTER</a>.About the Impact Angel Network and RENEWThe Impact Angel Network is one of the most active private equity investors in East Africa. Its members seek to make both social impacts and financial returns through investments in small and medium enterprises (SMEs), a proven engine of economic growth and job creation, but lacking capital in Africa due to their size. They believe that targeting employment through SMEs, dollar-for-dollar, can help reduce poverty in a more sustainable way than charity.RENEW, with its largest office in Addis Ababa, Ethiopia, manages the IAN’s investment operations and provides investment advisory and consulting services in support of its investments. RENEW’s work in Ethiopia was piloted with USAID and is currently undertaken with financial support from the Government of Canada provided through Global Affairs Canada. The project, Accelerating Business Growth, aims at sustainable job creation for low-skilled workers, including women and young adults, through a dynamic and growing small and medium business sector in Ethiopia.&nbsp;###

Angel Network Focused on SMEs in sub-Saharan Africa to Host Fourth International Gathering.

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Press Release: 2019 International Gathering

<h1 style="text-align:center;">April Resource Blog</h1>Our April Resource Blog focuses on resources for creating a strong team. Take a few minutes and read through the articles below for a deeper understanding on how to give better feedback, how teams collaborate successfully and how to hire good team members.<a href="https://hbr.org/2019/03/the-feedback-fallacy">The Feedback Fallacy</a> (Harvard Business Review): The search for ways to give and receive better feedback assumes that feedback is always useful. But the only reason we’re pursuing it is to help people do better. And when we examine that—asking, “How can we help each person thrive and excel?”—we find that the answers take us in a different direction.<a href="https://hbr.org/2018/07/a-study-of-thousands-of-dropbox-projects-reveals-how-successful-teams-collaborate?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">A Study of Thousands of Dropbox Projects Reveals How Successful Teams Collaborate</a> (Harvard Business Review): In this article, the authors studied the virtual interactions of research teams at universities around the world on Dropbox, analyzed how the collaborative dynamics related to performance and developed a list of best practices that organizations can use on any file-sharing platform to improve team performance.<a href="https://www.theatlantic.com/business/archive/2016/04/the-science-of-smart-hiring/477561/?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">The Science of Smart Hiring</a> (The Atlantic): This article discusses Google's various efforts in finding patterns to understand what attributes made a good Google worker.<figure class="image"><img src="/uploads/screen_shot_2019_03_28_at_2_39_13_pm_0_49c4119146.png"><figcaption>Image Source: Harvard Business Review: <a href="https://hbr.org/2019/03/the-feedback-fallacy">The Feedback Fallacy</a></figcaption></figure>

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April Resource Blog

<h1 style="text-align:center;">An Ode to Africa's Businesswomen</h1>Close your eyes for a few minutes and imagine that you are a businesswoman in East Africa. What inequalities might you face? What extra challenges might come into play as you go about the daily work of growing your business? Are there extra family obligations your life might entail that your male counterparts don’t typically face? How about equal access to land, finance and markets?According to a recent study conducted by the IFC, Sub-Saharan Africa (SSA) has the largest proportion of financially constrained small and medium enterprises (SMEs) (54%) in the world.[1] Women-owned SMEs in SSA face additional barriers to trade and finance because they often lack the collateral, banking relationships and market linkages afforded to their male counterparts. The same IFC study outlines that, despite their smaller average size, female-owned businesses in SSA account for an outsized share of the finance gap, at $42B.[2]As an example, one of our portfolio companies, Mama Fresh, is an injera company in Ethiopia and is a family business comprising of Konjit Zewdie and her husband Hailu and son Miraf. The Mama Fresh team has been baking injera daily in Ethiopia since 2003. With entities registered in Ethiopia and the United States, the company now offers a range of traditional Ethiopian food products and consumers can find Mama Konjit’s food in restaurants and retail outlets in Ethiopia, the United States, Sweden, Norway, Germany, Hong Kong, Kuwait and Nigeria. The company currently has 39 employees, and 69% are women.<figure class="image"><img src="/uploads/mamafresh_0_d4d0a5ebff.jpg"></figure>Global Affairs Canada (GAC) worked with RENEW to design and implement the Accelerating Business Growth (ABG) Project in Ethiopia. ABG helps address some of the challenges faced by companies like Mama Fresh. The project helps SMEs, especially women-owned and managed, access finance from a growing network of domestic and international angel investors committed to building Ethiopia’s economy. The ABG project goes beyond addressing access to capital; it provides an executive training program for the C-suite of companies, helping them build and strengthen their governance, financial management and sales and marketing. All of this aims to create thousands of jobs in Ethiopia and build a vibrant and sustainable economy in Ethiopia.Here are some numbers that we are tracking for the ABG to keep us focused on building gender equality:<ul><li>40% of the SMEs that have received an investment from our angel investors have female shareholders. We want this to get above 50%.</li><li>70% of the jobs provided across our portfolio are held by women.</li><li>40% of participants in The Exec’s Program are women. We will push to get this to 50%.</li><li>38% of the professionals in the CFO100 are women. We want more!</li><li>39 or 27% of the North American angel investors are women. We want to have more women join the IAN.</li></ul>And finally, 50% of the RENEW team that manages the ABG project are women. Gender-balanced! Why is gender equality so important for projects like ABG? Just as women are often the backbone of a family, they are also the backbone of an economy. And this is why all of the work we do at RENEW and with our partners at Global Affairs Canada emphasizes gender empowerment and equality.So please stay in touch to keep learning about the high-impact work we are doing in Sub-Saharan Africa. There is much more coming on the horizon.

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An Ode to Africa's Businesswomen

<h1 style="text-align:center;">March Resource Blog</h1>Our March Resource Blog focuses on resources for structuring your day and your team. Take a few minutes and read through the articles below for a deeper understanding on structuring your day, working more effectively and forming the perfect team.<ul><li><a href="https://qz.com/work/1561830/why-the-eight-hour-workday-doesnt-work/?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">There’s an optimal way to structure your day - and it’s not the 8-hour workday</a> (Quartz) - In this article, the author disputes the eight-hour workday as an effective way to conduct business. He argues that in order to be as productive as possible, companies and people need to let go of this format and instead structure your day in short intervals, with frequent breaks.</li><li><a href="https://www.cnbc.com/2019/02/28/what-google-learned-in-its-quest-to-build-the-perfect-team.html?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">7 Years Ago, Google Set Out to Find What Makes the ‘Perfect’ Team - and What They Found Shocked Other Researchers</a> (CNBC) - In 2012, Google set out to find what went into the perfect team. They interviewed over 180 different teams within Google to find out what comprised the perfect team. They found that individual personalities are not actually relevant, but rather there are five specific team traits that enhance a team.</li><li><a href="https://www.fastcompany.com/90305012/how-to-cut-your-work-hours-in-half?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">Want to Cut Your Work Hours in Half? Create an A/B Schedule </a>(Fast Company) - This article explores the idea of adopting an A/B scheduling technique to work and do business. The author argues that by scheduling between A and B weeks, it allows for fewer hours and more efficiency.</li></ul><figure class="image"><img src="/uploads/screen_shot_2019_03_05_at_4_13_25_pm_0_7034fdcd7c.png"><figcaption>Image Source: Fast Company: <a href="https://www.fastcompany.com/90305012/how-to-cut-your-work-hours-in-half?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">Want to Cut Your Work Hours in Half? Create an A/B Schedule</a></figcaption></figure>

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March Resource Blog

<h1 style="text-align:center;">Being an Intrapreneur</h1>Intrapreneur: “an employee within a large company who takes direct responsibility for turning an idea into a profitable new product, service, business” (<a href="https://dictionary.cambridge.org/dictionary/english/intrapreneur">The Cambridge Dictionary</a>)As an economist passionate about the economy and driven to make a change, I joined one of the biggest government enterprises a few years ago while it was undergoing a huge transformation. While I worked there, I was able to experience all the excitement and challenges of this transformation. After five years, equipped with the different techniques and methods I learned in this position, I decided I wanted to share this experience with companies going through other minor or major transformations, which led me to a consultancy firm.At the same time, my father decided to embark on a new venture of opening a business. Through his eyes, I was able to see the challenges and opportunities of being an entrepreneur, even though I was providing professional support from the outside. I didn’t fully join his company until they expanded to water well drilling, at which point I spent 3 years fully devoted to developing the business and building the market integration.<figure class="image"><img src="/uploads/teamphoto_0_b811d80023.jpg"></figure>However, after a few years, my father knew I was not content with just supporting his small company grow. He knew I had a lot more to give to other companies and that was when I decided to look for other opportunities and other companies I could support and transform.I decided to look for a new job and during my very first search, I found RENEW and its portfolio of companies. I saw it as an array of businesses that I could support by providing sales and marketing services and a pool of companies I could help to get an investment. This was exactly the kind of platform I was looking for. Having been on both sides as an entrepreneur and an intrapreneur, I realized I was much more content supporting different businesses and contributing to the general economy of Ethiopia by increasing the role of private equity investments, rather than just getting income from my own business. I realized I was an intrapreneur, not an entrepreneur. I am that person working in the organization that eventually ensures organizational success, progress, competitive edge, and market sustainability.Don’t get me wrong, I am not saying this is an easy job, especially with two kids requiring the same level of attention and devotion the companies require. But with a little balance and the tools that RENEW offers, it becomes manageable.In my 10 years’ experience with both small local businesses and big enterprises that had the support and consultation of international companies, I have never come across the same level of strategic planning that is perfectly aligned with day to day operations as RENEW uses. The Annual Management Plan, the Key Results and the legend linked to each hour in our calendars works wonders. Because of this, every entrepreneur that I meet will get at least a 20-minute talk from me about these tools.My journey to being a great intrapreneur just started, and I will not be done until I fulfil my goal of introducing companies to this private equity world, to help them use the tools available and until I help them become market leaders. I do this because I believe I will be able to leave a better playing ground for my kids, whether they want to be intrapreneurs or entrepreneurs in the future.

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Being an Intrapreneur

<h1 style="text-align:center;">Press Release: RENEW and the IAN Make Second Investment in Logistics and E-Commerce Company in Ethiopia</h1>Denver CO and Addis Ababa, February 19, 2019 -- Members of RENEW’s <a href="https://www.renewcapital.com/what-we-do/investing">Impact Angel Network</a> (IAN) have funded a second investment in Roadrunner Technology Solutions LLC (Roadrunner), which partners with Universal Courier Services PLC (<a href="https://deliveraddis.com/">Deliver Addis</a>) to expand the burgeoning logistics and e-commerce industries in Ethiopia. Deliver Addis is a technology enabled, online food delivery company based in Addis Ababa, Ethiopia, launched in October 2015. Deliver Addis has succeeded in building a loyal customer base by offering meal delivery services from select restaurants around Addis Ababa. Since the IAN’s initial investment in 2017, the company has focused on three main service areas: logistics, B2C focused e-commerce and technology.<figure class="image"><img src="/uploads/roadrunner_almost_done_887f39dc57.jpg"></figure>Roadrunner and Deliver Addis utilized the IAN’s initial investment to enhance and expand its restaurant delivery services for consumers in Addis Ababa. Roadrunner developed a technology platform for Deliver Addis which has enabled the courier company to significantly reduce average delivery times, handle higher volumes and add additional service offerings. In addition, Roadrunner launched a new website for Deliver Addis with additional features, including a loyalty program and credit card payment options, as well as new restaurant offerings. With the IAN’s second investment, Deliver Addis intends to expand its service offering, allowing customers to order deliveries from a wider range of restaurants, as well as a soon-to-be-launched menu of retail products. The company also aims to expand its offering into new markets, making deliveries accessible to a wider segment of the Ethiopian population.“RENEW and the IAN exist to invest in smaller companies like Roadrunner and Deliver Addis, which are creating jobs for Ethiopian men and women by supporting local businesses and which can deliver strong performance following an investment,” said Matthew Davis, RENEW’s CEO. “We are pleased to be investing a follow-on round at a time when Roadrunner and Deliver Addis are positioning themselves as leaders in the nascent e-commerce industry in Ethiopia. We could not invest in companies like Roadrunner if it were not for Global Affairs Canada and USAID, and we are grateful for our partnerships with them.”<figure class="image"><img src="/uploads/deliveraddis2_0_80bacb826e.jpg"></figure>“RENEW and the IAN have been incredible partners during our growth since their first investment last year and we're glad to see that they are as optimistic about Ethiopia as we are,” said Feleg Tsegaye. “Since their first investment, we've been able to generate significant value for our partner restaurants as well as expand and optimize our driver fleet to ensure we're satisfying the needs of an ever-growing customer base. We're looking forward to our next chapter of growth and our continued relationship with RENEW's support.”About the Impact Angel Network and RENEW The Impact Angel Network is one of the most active private equity investors in Ethiopia. Its members seek to make both social impacts and financial returns through investments in small and medium enterprises (SMEs); a proven engine of economic growth and job creation, but lacking capital in Africa due to their size. They believe that targeting employment through SMEs, dollar-for-dollar, can help reduce poverty in a more sustainable way than charity.RENEW, with its largest office in Addis Ababa, Ethiopia, manages the IAN’s investment operations and provides investment advisory and consulting services in support of its investments. RENEW’s work in Ethiopia was piloted with USAID and is currently undertaken with financial support from the Government of Canada provided through Global Affairs Canada. The project, Accelerating Business Growth, aims at sustainable job creation for low-skilled workers, including women and young adults, through a dynamic and growing small and medium business sector in Ethiopia.&nbsp;###

The IAN's second investment in Roadrunner.

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Press Release: RENEW and the IAN Make Second Investment in Logistics and E-Commerce Company in Ethiopia

<h1 style="text-align:center;">Press Release: Official Launch of KROTAJ Tahini Manufacturers PLC’s Processing Factory</h1><a href="https://renewcapital.com/sites/default/files/02.11.2019_-_press_release_-_krotaj_launch_final_1.pdf">Download the Full Press Release.</a>Addis Ababa, Ethiopia February 11, 2019 -- On February 12, 2019, KROTAJ Tahini Manufacturers PLC (KROTAJ), will host a formal launch event to celebrate the opening of its tahini factory in Addis Ababa. Visitors will witness the production of tahini at the newly certified factory and sample the product.Date: February 12, 2019 Time: 3 PM in the afternoon Location: Nifas Silk Lafto Sub City Woreda 12 (Lebu, Mebrat hayel behind Haile Garment)KROTAJ is an international partnership of sesame experts and investment professionals formed to produce world-class tahini close to the source of some of the world’s finest sesame from the Humera region of Ethiopia. The company’s mission is to become the leading provider of tahini to the international food processing industry.<figure class="image"><img src="/uploads/img_5956_40fb42729f.jpg"></figure>Sesame is one of the leading agricultural products exported by Ethiopia, generating a significant amount of foreign currency revenue for the country. Value addition to sesame in Ethiopia has so far been limited, but has the potential to both increase overall revenue for Ethiopian sesame producers and open up new markets worldwide.The company, by sourcing sesame locally, will support thousands of smallholder farmers and strengthen the sesame industry in Ethiopia. The new factory plans to produce 3,758 tons of tahini per year and directly employ more than 40 staff at full capacity. KROTAJ is anticipated to have a significant impact on the local economy and its shareholders and managers are excited to celebrate this milestone of opening a state-of-the-art tahini processing factory in the home of the some of the world’s best sesame. “We are grateful for our Ethiopian, Israeli and U.S. partners who have helped us get to this stage of launching a tahini factory in Ethiopia,” CEO, Dr. Mulugeta Kidanemariam, recently said.<figure class="image image_resized" style="width:100%;"><img src="/uploads/tahini_fotor_2_0_a31a796afd.jpg"></figure>“Our partners include Wegagen Bank, many Government partners, and several U.S. investors, including RENEW and the Impact Angel Network,” said Meseret Kidanemariam, sister to Dr. Mulugeta and a co-founder. “Each group has been integral in helping us get to this key stage. Now it’s time to produce and export exceptional tahini to the world market,” she continued.As a key stakeholder, RENEW and the Impact Angel Network (IAN) are proud to partner with KROTAJ Tahini Manufacturers PLC.&nbsp;###

krotajtahini.com

Krotaj Tahini Manufacturers is an FSSC 22000 certified sesame company that produces tahini from some of the world’s finest sesame grown in Ethiopia’s Humera region.