<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

<h1 style="text-align:center;">RENEW’s New Address</h1>RENEW’s main headquarters have moved! We’d like to take this opportunity to inform you of our new business address, which is located in Denver:RENEW LLC Suite 170 1031 33rd Street Denver, CO 80205If you’re mailing us, please send all mail to:RENEW LLC PO Box 598 Denver, CO 80201Please <a href="mailto:renew@renewcapital.com">contact us</a> with any questions you might have about this move!<figure class="image"><img src="/uploads/new_address_0_f6a3d39ffa.png"></figure>

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RENEW’s New Address

<h1 style="text-align:center;">RENEW’s Spring Investor Trip</h1>This June, the RENEW partners will be heading back to the United States to meet with investors in Chicago, Minneapolis and Michigan between June 25 and 29.This trip is a great opportunity to meet the partners and learn more about RENEW, the IAN and upcoming investment opportunities. If you’re interested in learning more about what we do, please <a href="mailto:eoconnor@renewcapital.com">contact us</a> to set up a meeting or consider joining us at our lunch events in Minneapolis and Chicago:<ul><li><a href="https://www.eventbrite.com/e/doing-well-by-doing-good-experience-investing-in-africa-registration-46201878061">Minneapolis Lunch Event</a></li><li><a href="https://www.eventbrite.com/e/doing-well-by-doing-good-experience-investing-in-africa-registration-46201510963">Chicago Lunch Event</a></li></ul>&nbsp;We hope to see you this June!<figure class="image"><img src="/uploads/us_map_0_e2318c51b6.png"></figure>

Join us in Chicago, Minneapolis and Michigan this June.

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RENEW’s Spring Investor Trip

<h1 style="text-align:center;">Mama Fresh’s New Factory</h1>In March 2018, Mama Fresh inaugurated its new facility in Kality. Until recently, Mama Fresh was a familiar and friendly face in Addis' Gotera neighborhood, where the company has been producing fresh baked, high quality injera since 2015.The move to Kality allows Mama Fresh the opportunity to expand its export business and its domestic offerings with a one-level factory layout with improved production efficiency. The company is the first ISO certified injera company in the country.Mama Fresh’s current product line includes: • Black Label Premium Injera - 100% Teff injera, sold in Addis • Red Label Export Quality injera - shipped to North America, Europe and the Middle East • Spices product lines - premium mitmita, shiro and berbere spices. This new line is already garnering a lot of fanfare in the North American market.Mama Fresh will continue expanding and plans are in the work for an even larger facility in Kality.In case you missed it, Mama Fresh was recently featured on CGTN Africa. View the story <a href="https://youtu.be/hvRSubyddLE">here</a>.

The new factory in Kality is the first ISO certified injera company in the country.

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Mama Fresh’s New Factory

<h1 style="text-align:center;">June’s Resource Blog</h1>This month, we've collected a great list of articles with topics that range from high-potential personality traits, answering emails and how to be a great storyteller. All these articles will help you succeed both professionally and personally. Read more below:<ul><li><a href="http://www.bbc.com/capital/story/20180508-the-secrets-of-the-high-potential-personality?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">The secrets of the ‘high-potential’ personality</a>: Are you curious, conscientious and competitive? Do you also have the more mysterious qualities of “high adjustment”, “ambiguity acceptance” and “risk approach”? If so, congratulations! According to new psychological research, these six traits constitute a “high potential” personality that will take you far in life. (BBC)</li><li><a href="https://www.fatherly.com/health-science/why-is-email-so-stressful/?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">Why is Answering Email So Stressful?</a>: The average professional spends 4 hours per day responding to work emails. One 2016 study found that people consistently report checking their email as one of their most stressful daily activities, especially when their email arrives via “push” feature on a device. The article talks about e-mail discipline and how to make work feel more controllable. (Fatherly)</li><li><a href="https://www.fastcompany.com/40567260/want-to-be-a-great-storyteller-first-break-these-habits?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">Want To Be A Great Storyteller? First, Break These Habits</a>: The story you decide to tell matters just as much as how you decide to tell it. You’ve heard dozens of times that you’re more likely to engage your audience when you tell a story in your presentation. A story that’s powerful and relevant can galvanize people and inspire action. But even otherwise great stories can be told badly. Here are few pitfalls you’ll need to avoid to make sure you don’t sabotage your own storytelling. (Fast Company)</li></ul><figure class="image"><img src="/uploads/screen_shot_2018_05_29_at_8_47_08_am_65429b1390.png"></figure>Image Source: BBC: <a href="http://www.bbc.com/capital/story/20180508-the-secrets-of-the-high-potential-personality?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">The secrets of the ‘high-potential’ personality</a>

Articles to help you succeed both professionally and personally.

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June’s Resource Blog

<h1 style="text-align:center;">RENEW's Impact Angel Network to Invest in FC Specialty Restaurant PLC</h1>Download the Full Press Release.RENEW and members of the Impact Angel Network (IAN), through IAN-Chicken, LLC, have closed an investment in FC Specialty Restaurant PLC, an Ethiopian company founded by Tseday Asrat and Elias Ketema Sima, the founders of Kaldi's Coffee and Gusto Restaurants. FC Specialty Restaurant PLC will launch a quick service restaurant (QSR) franchise in partnership with an international brand and aims to become the largest international food franchise conglomerate in Ethiopia within seven years, and the fourth largest franchise operator on the continent of Africa.<figure class="image"><img src="/uploads/fastchicken_1_12cdd2fe57.jpg"></figure>With a focus on local sourcing, the franchise intends to invest in Ethiopia's poultry value chain, thereby positively impacting the livelihoods of thousands of smallholder farmers, manufacturers and supply chain actors. The company seeks to transform Ethiopia's poultry and food services industries with a focus on ethical management, excellent customer service, and the adoption of international food quality, safety and health standards."We are excited to partner with a global brand to bring the first international chicken franchise to Ethiopia," said Mr. Sima. "By partnering with RENEW and the Impact Angel Network, we believe we will be bringing the strongest possible partnership together to launch the international brand, here in Ethiopia.""RENEW, the Impact Angel Network and our local partners are grateful to our stakeholders in Ethiopia and to Global Affairs Canada, which make our investment work in one of the fastest growing countries in the world possible," said Matthew Davis, CEO of RENEW. He added, "We focus on supporting new ventures and small and medium enterprises (SMEs), and aim to create sustainable impact through strategic investing, management consulting and targeted training programs we offer our portfolio companies."RENEW and the Impact Angel Network have built one of the most active investment firms in Ethiopia. The investment in IAN-Chicken, LLC and its investment in FC Specialty Restaurant PLC, is the Impact Angel Network's tenth investment in a portfolio of nine companies in East Africa.<figure class="image"><img src="/uploads/fastchicken_2_75768669c0.jpg"></figure>To find out more about RENEW, please visit <a href="../../index.html">www.renewcapital.com</a>. The Impact Angel Network (IAN) is one of the most active private equity investors in Ethiopia. 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.RENEW manages the IAN and provides professional management and consulting services to portfolio companies.To find out more about Kaldi's Coffee, visit <a href="http://kaldiscoffeeethiopia.com/">http://kaldiscoffeeethiopia.com</a>. To find out more about Gusto Restaurants, visit <a href="http://gustoaddis.com/">http://gustoaddis.com</a>.

FC Specialty Restaurant PLC, an Ethiopian food and beverage company, was founded by the owners of Kaldi’s Coffee and Gusto Restaurants in pursuit of developing a quick-service restaurant option for Ethiopia.

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Fast Chicken.avif

Announcing the IAN's tenth investment in a portfolio of nine companies in East Africa

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RENEW's Impact Angel Network to Invest in FC Specialty Restaurant PLC

<h1 style="text-align:center;">What Does Good Look Like?</h1>If we look at RENEW as a manufacturing line, our job is to take businesses of all shapes and sizes in on one side and take them through a process that helps them be number one or two in their market. After almost a decade in the making, RENEW launched two programs this week with this aim in mind. For years, RENEW has seen common challenges in the C-suite across hundreds of companies in sub-Saharan Africa. A lot of the similarities come down to a lack of disciplined management team - not creating or using annual plans or budget; not closing the books every month; not looking at cash flow; not following up with key customers, etc. We don’t think it’s for lack of desire on the part of the executives we work with, we think it's typically a lack of understanding about what good looks like.<figure class="image"><img src="/uploads/cfo_100_1_c3746ccc2e.jpg"></figure>With gratitude to the Canadian Government for their support, we launched The Executive's Program and The CFO 100 aimed to build disciplined management teams across our portfolio and a few other companies that have been hand-selected by you and the team at RENEW.The Executives' Program is essentially a mini-MBA. Every Tuesday morning for two hours, a group of some of Ethiopia's finest will spend time learning about practical topics that managers need to know: how to run effective weekly management meetings; how to recruit, onboard, compensating and evaluate senior member of your team; how to understand financial statements and learn the key financial metrics every executive must care about; how to communicate to shareholders and prepare quality investor reports; how to manage a sale pipeline and run successful sales calls, etc. Over the next five years, we'll graduate 50 top executives - many of whom will be leading the companies you have invested in.The CFO 100 is simple - teach the fundamental skills of being a CFO, including how to build and use a budget; how to manage cash flow; how to analyze financial statement; how to prepare financial reports for the CEO and shareholders. Fundamental things that are deeply lacking in the education system in Ethiopia and many other countries. Over five years we aim to graduate 100 CFO. Yes, many of them will be working at your portfolio companies. We're already getting calls from the other investment firms in Addis asking us to let us know when the class graduates. The demand is high.<figure class="image"><img src="/uploads/what_good_looks_like_27eb9296c4.jpg"></figure>So stay tuned and check in on how these two programs are progressing. We hope that will not only add value to your portfolio companies (priority #1), but will also become a part of our legacy here in Ethiopia. We want our trainings to be a key part of RENEW's unique value to attract the best deals and realize breakout growth.

RENEW Launches The Executive's Program and CFO100

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What Does Good Look Like?

<h1 style="text-align:center;">Ethiopia Emerges (Chigign 'Tobiya)</h1>It's really not too often that the stars align so well with a vision we had in our head at RENEW, but knew we couldn't pull off without the right people, becomes a reality.That's just what happened with the upcoming TV series, Chigign 'Tobiya, which will appear on Fana TV, Friday's at 8:30 PM. Girmay Haile Gebreselassie is the visionary behind the show. He has written and directed two movies, three plays and has a solid career in IT.Chigign is a reality TV show dedicated to elevating entrepreneurship and Ethiopian entrepreneurs who are innovating in IT, the arts, education and general business. The show aims to encourage and educate youth and the society at large about the importance of innovation, entrepreneurship, private equity, angel investing and the private sector in general in Ethiopia. The program will be produced by his company Tonetor. RENEW is proud to be a sponsor, for members of our Investment Committee to sit on the panel and also to be investing in the winning entrepreneurs.Visit <a href="https://youtu.be/GyovqM8acCY">YouTube</a> to view a short program clip or <a href="http://www.tonetormultimedia.com/">HERE</a> to see the advertisement.Show Name: Chigign 'Tobiya (Chigign mean sapling/sprout and 'Tobiya is an old name for Ethiopia). Our English definition for Chigign Tobiya is Ethiopia Emerges.Air Times: Tune in the following dates to view the first episodes.&nbsp;<figure class="image"><img src="/uploads/screen_shot_2018_05_02_at_11_16_52_am_f32731bfcc.png"></figure>&nbsp;The Concept: Chigign 'Tobiya is a platform for the entrepreneurs to gain access to capital, contracts and coaching. Entrepreneurs will appear and pitch, in a concept that combines Shark Tank and American Idol, if they pass to the next show, the Chigign team and in some cased the judges will provide coaching to help them enhance their business concept to make it to the final round where they will be eligible for an investment from the panel's fund.<figure class="image"><img src="/uploads/chigign_tobiya_94171a620d.jpg"></figure>Get Involved:<ul><li>Pitch Your Company or Idea - The Chigign 'Tobiya team will choose more than 30 entrepreneurs each season and have them pitch their company or idea for a chance to appear on the show.</li><li>Be an Investor in the Fund - Be a permanent or rotating investor on Chigign 'Tobiya. Hear pitches, mentor entrepreneurs and vote with the panel to allocate the fund to finalist entrepreneurs. Not interested in appearing on the show. You can still invest in an ETB fund which will be managed in a partnership between RENEW and Tonetor.</li><li>Be a Sponsor - The Chigign 'Tobiya team is looking for sponsors interested in encouraging Ethiopian youth and the society at large towards entrepreneurship and innovation. In return, you will receive good press and a variety of benefits as part of your CSR program.</li><li>Ecosystem Partner - Do you work with Ethiopian entrepreneurs? We'd love to add value to your program by having your entrepreneurs pitch on the program.</li></ul>

Proudly partnering to build Ethiopia's entrepreneurship and angel ecosystem

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Ethiopia Emerges (Chigign 'Tobiya)

<h1 style="text-align:center;">Africa Investment Index 2018</h1>The Africa Investment Index (AII) developed by Quantum Global aims to integrate tools to measure "multidimensional concepts for assessing the investment attractiveness of African countries over time" (pg. 4). Developed in April 2017, Quantum Global tries to provide investors with a full view of the current investment climate in all 54 African countries. The Index is meant to show the overall attractiveness of each country in the short and medium term.This report can help investors to see the ever-changing opportunities and risks from country to country. The AII gives a full view of the country and allows investors to make decisions based on an overall macroeconomic outlook. If using this from a business point of view, it can be used as a tool to identify well performing economies. From a policy standpoint, it can help understand where Foreign Direct Investment typical goes, and how to attract additional capital based on benchmarking and monitoring (pg. 4).<figure class="image"><img src="/uploads/screen_shot_2018_04_30_at_4_01_58_pm_0_6b9d73c2b1.png"></figure>Using the AII, Quantum Global provides a ranking of all 54 countries based off six criteria: Economic Growth Factors, Liquidity Factors, Risk Factors, Business Environmental Factors, Demographic Factors and a measure of Social Capital. Here is a breakdown of what each factor includes:<ul><li>Economic Growth Factors: GDP growth, domestic investment, size of economy</li><li>Liquidity Factors: level of domestic real estate interest rates, excess money supply</li><li>Risk Factors: credit rating of the country, risks of currency depreciation, import-cover ratio, current account balance and external debt levels</li><li>Business Environment Factors: based off a micro-institutional index developed by the World Bank</li><li>Demographic Factors: size of the population, potential market</li><li>Social Capital Factor: level of networks, knowledge and connections</li></ul>As of their 2018 report, the current top 10 countries include: Morocco, Egypt, Algeria, Botswana, Côte d'Ivoire, South Africa, Ethiopia, Zambia, Kenya and Senegal (pg. 3).<figure class="image image_resized" style="width:92.28%;"><img src="/uploads/screen_shot_2018_05_01_at_5_00_38_pm_2a7dad796d.png"></figure>One theme the report touched on was foreign direct investment (FDI) to Africa. They've found that FDI's are typically declining (as of 2016), but there are reports which indicate that inflows of capital will likely increase in the next few years. Currently, the United States is the largest contributor of FDI's to the continent, followed next by the United Kingdom, France, China and South Africa (pg. 6).A few of the findings from the report focused on Ethiopia include:<ul><li>Ethiopia topped the individual ranking for the Economic Growth factor, followed by Algeria, Mozambique, Tanzania and Côte d'Ivoire.</li><li>Ethiopia sustained an average GDP growth rate of 8.4%. This was bolstered by public infrastructure investment.</li><li>Domestic investments reached 40% of the country's GDP. (pg. 10).</li><li>Ethiopia ranked in the top four for most populous countries, scoring highly on demographic factors.</li><li>Over the past four years, Ethiopia had the following ranking based off the AII: 15 in 2015, 15 in 2016, 21 in 2016 and 7 in 2017 (pg. 13).</li></ul>Read the full report here <a href="http://quantumglobalgroup.com/knowledge-hub/indices/africa-investment-index/">Africa Investment Index 2018</a>&nbsp;

Ethiopia ranked in top 10 in 2018 report.

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Africa Investment Index 2018

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