<h1 style="text-align:center;">Practicing Business with Future Legends</h1>“I’ve worked for large international companies and done my MBA, and this is the first time I’ve realized that what’s missing in my business – and it holds me back from growing – are systems.” – Program participant“As a runner, I am disciplined and have a training schedule that I follow rigorously. It just clicked with me. Why haven’t I been applying that same discipline to my business?” – Program participant“No one’s tied it all together before, like RENEW’s Executives’ Program is doing.” – Program participant<figure class="image"><img src="/uploads/img_5915_0_483eaff48f.jpg"></figure>In May 2017, RENEW launched<a href="https://www.renewcapital.com/companies" target="_blank" rel="noopener noreferrer"> The Executive's Program</a>, a 12-week, mini-MBA to show entrepreneurs in our pipeline and portfolio what good looks like. Over the past month, we’ve heard similar words out of the mouths of many of the 12 entrepreneurs participating in this year’s cohort. The consensus around the room has been that no one has made the “practice” of business as practical as this program is doing.What makes a business successful isn’t rocket science, but the statistics aren’t good: 96% of companies fail within 10 years. Why? All the experts say the same thing: poor management, insufficient capital, lack of planning. In summary, most companies lack disciplined management.<figure class="image"><img src="/uploads/fullsizerender_3_3e1f005971.jpg"></figure>Our approach is to teach the habits and tools used by top-performing executives. The good news is that performance can be taught! Our program focus is governance, finance, strategy, operations, HR, marketing and sales and corporate stewardship, with strong encouragement to practice and apply, in-between the sessions. Nothing new about those topic areas, but it’s amazing how a program that ties together how strategic plans, annual plans and budgets right down to using your calendar to carve out time to write standard operating procedures and plan meetings can be the kick in the butt entrepreneurs need, myself included.The outcome we are aiming for is to graduate top performing executive with disciplined management teams that become legends of Ethiopia’s economic growth. Will the disciplines we are trying to instill yield the growth we hope for? Time will tell, but as we see sparks of understanding light the eyes of the entrepreneurs that are diligently coming, we are full of hope for our companies and for Ethiopia.

Teaching the habits of top performing executives

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Practicing Business with Future Legends

<h1 style="text-align:center;">My Journey to RENEW Through the Busy Streets of Addis</h1>"Erin.... we are hoping that you are available to come to Addis Ababa, Ethiopia from about May 1...."&nbsp; As I read this email early one morning, I knew my work life was about to get flipped completely around. It’s not every day that a new job asks you to take a transatlantic flight to Sub-Saharan Africa on your first day of work…--------Joining the RENEW team was a no-brainer for me. I was on the hunt for a company where my ideals and values would line up. A company that I could get behind and one that I could feel good about contributing to at the end of the day. Coming from a background in the investment field, I had heard of impact investing, and knew that if I was to stay in this industry, that was where I needed to be. Working at a small company taught me how to wear several different hats, but it also taught me where my strengths truly lie and what I value most in this field: using investments for the greater good. Right from the first conversation I had with RENEW, I could see my values and skills lining up with the company and position.<figure class="image"><img src="/uploads/collage_fotor2_d14841c0ff.jpg"></figure>Which brings me to about four weeks ago, where on day two of work, I landed at Bole International Airport; bright-eyed, bushy-tailed, and bag-less. As I drove through the city of Addis Ababa to The Exchange (our office in Addis Ababa), the sites around me were overwhelming. I had never seen so much traffic and so many people all trying to vie for the right of way. Rush hour in the city felt disorganized and hectic. After a good 30-minute drive, I finally made it to The Exchange and was greeted by a friendly team and positive work environment. A small hidden gem tucked inside a coffee warehouse down a dirt road in the heart of the city.Right from day one of work, I could tell&nbsp;this position would be fast-paced and right up my alley.&nbsp;One common theme that kept popping in my head over the two weeks I spent in Ethiopia, was something Matt and Laura told me in my interview. They said they’re a hard-working group, but at the end of the day, their company is like one big family. Over the two weeks in Addis, I saw that adage really come to light, and I saw first-hand that they live and breathe that. I also experienced the passion that was behind RENEW, and saw that the team truly stood behind and embodied the company’s values: "we are loyal and welcome the challenge of being trailblazers".&nbsp;<figure class="image"><img src="/uploads/erin_eat_ethiopian_2_e1293f19f1.jpg"></figure>While in Addis, I also had the chance to visit a few of our projects. To hear and see first-hand what impact our investments have, and to meet the people behind the portfolio, was truly eye-opening. Learning about where these companies started, versus where they were today because of the equity investments by the IAN, was a testament to the work being done by RENEW and the impact being created.Over the next two weeks, Addis eventually became less about the busyness and felt more and more like everyday life. The people were friendly and helpful and the city was alive and exciting.&nbsp;I woke up to the sound of morning prayers and church bells every morning; which on day 2, I was convinced my co-worker was blasting music at 5 AM. It made it hard to sleep, but you could feel how alive with energy the city was at the same time.Being able to see our investments, the country, and the circumstances that surround them, gave me such a strong grounding and understanding of what we're offering. Not only are we trying to create huge social impacts, but we're working with the community to move it forward, and ultimately, provide good financial returns to our angel investors.One month in, and I’m still getting my feet wet, but I can already tell this is somewhere I want to make a splash.<figure class="image"><img src="/uploads/renew_team_9361509dcd.jpg"></figure>

My first impressions of RENEW and Ethiopia.

Perspectives

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My Journey to RENEW Through the Busy Streets of Addis

<h1 style="text-align:center;">Key Resources for Executives</h1>In the following post, we look at key resources to help executives manage and perform better in their roles. Below are 4 articles that will help you achieve this:Does brainwriting or brainstorming work better for generating creative/problem-solving ideas? In the article,<a href="http://www.chicagotribune.com/bluesky/originals/ct-creative-class-leigh-thompson-bsi-20170511-story.html"> Who Needs Brainstorming? Brainwriting Gets Way More Ideas, This Prof Says</a>, research shows that Brainwriting is much more effective than brainstorming. If brainstorming involves verbalizing ideas, brainwriting entails writing down ideas individually and then sharing it in a meeting.<a href="https://hbr.org/2017/05/why-do-so-many-managers-avoid-giving-praise">Why Do So Many Managers Avoid Giving Praise</a> outlines how the most difficult part of a manager’s job is giving feedback. In a survey of 7,631 people, participants were asked whether they believed that giving negative feedback was stressful or difficult, and 44% agreed.&nbsp;Research suggests that if you want to be seen as someone who gives good feedback, you should proactively develop the skill of giving praise as well as criticism.<figure class="image"><img src="/uploads/abg_training_2_rows_60661967de.jpg"></figure>Many manufacturing firms leave enormous value on the table because of their approach to sales and operations planning. <a href="http://www.bain.com/publications/articles/good-sales-and-operations-planning-is-no-longer-good-enough.aspx">Good Sales and Operations Planning is No Longer Good Enough</a> shows how they tend to use rough rules of thumb rather than rigorous mathematics, and they lack close coordination among different departments. This framework from Bain Consulting will help you plan in a more integrated way.In the modern world when everyone is busy, you need to be specific about how to get to the point in everything you write. Grammarly, the best app for helping people use the right grammar in communications, gives tips about how to write well and get attention in the article <a href="https://www.grammarly.com/blog/specificity-in-writing/?utm_source=grammarly&amp;utm_medium=email&amp;utm_campaign=BlogNL&amp;utm_content=NL_052017&amp;utm_source=&amp;utm_medium=email&amp;utm_campaign=&amp;utm_content=">Be Specific! How to Get to the Point in Everything You Write.</a>

Key resources to help executives manage and perform better in their roles.

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Key Resources for Executives

<h1 style="text-align:center;">Key Resources for Executives</h1>In the following post, we look at key resources to help executives manage and perform better in their roles. Below are 4 articles that will help you achieve this:Does brainwriting or brainstorming work better for generating creative/problem-solving ideas? In the article,<a href="http://www.chicagotribune.com/bluesky/originals/ct-creative-class-leigh-thompson-bsi-20170511-story.html"> Who Needs Brainstorming? Brainwriting Gets Way More Ideas, This Prof Says</a>, research shows that Brainwriting is much more effective than brainstorming. If brainstorming involves verbalizing ideas, brainwriting entails writing down ideas individually and then sharing it in a meeting.<a href="https://hbr.org/2017/05/why-do-so-many-managers-avoid-giving-praise">Why Do So Many Managers Avoid Giving Praise</a> outlines how the most difficult part of a manager’s job is giving feedback. In a survey of 7,631 people, participants were asked whether they believed that giving negative feedback was stressful or difficult, and 44% agreed.&nbsp;Research suggests that if you want to be seen as someone who gives good feedback, you should proactively develop the skill of giving praise as well as criticism.<figure class="image"><img src="/uploads/abg_training_2_rows_8000825af1.jpg"></figure>Many manufacturing firms leave enormous value on the table because of their approach to sales and operations planning. <a href="http://www.bain.com/publications/articles/good-sales-and-operations-planning-is-no-longer-good-enough.aspx">Good Sales and Operations Planning is No Longer Good Enough</a> shows how they tend to use rough rules of thumb rather than rigorous mathematics, and they lack close coordination among different departments. This framework from Bain Consulting will help you plan in a more integrated way.In the modern world when everyone is busy, you need to be specific about how to get to the point in everything you write. Grammarly, the best app for helping people use the right grammar in communications, gives tips about how to write well and get attention in the article <a href="https://www.grammarly.com/blog/specificity-in-writing/?utm_source=grammarly&amp;utm_medium=email&amp;utm_campaign=BlogNL&amp;utm_content=NL_052017&amp;utm_source=&amp;utm_medium=email&amp;utm_campaign=&amp;utm_content=">Be Specific! How to Get to the Point in Everything You Write.</a>

<h1 style="text-align:center;">My First-Hand Experience Participating in the CFO100 Program</h1>It’s been about a month now since the CFO100 Program training launched and already we are in the process of advancing our finance managers into CFOs.Before, during and after the training:As program coordinator of the CFO100 training, I am in charge of communicating with our portfolio companies finance managers and other external applicants. Most of the communication is explaining the program, why it is important, and how both the companies they work with and individuals benefit from it. As a requirement to attend the training we request all applicants take an online examination, and we ensure all applicants know what the program entails. RENEW also gives partial sponsorship to support the participants to sit for the ACCA exams. One of my duties is to coordinate with ACCA's Ethiopia office to get participants registered and to suggest the type of paper to take first.Internally, I am involved in preparing training modules that are mostly delivered to the participants by Matthew Davis, CEO of RENEW Strategies. Every Tuesday&nbsp;at&nbsp;1 PM, Matt will do a dry run of the training with Prasoon Raguwanshi, senior investment manager at RENEW and myself. We start by providing feedback on the content as well as delivery of the training modules.&nbsp;4 PM&nbsp;marks the preparation of refreshments with the scent of special coffee in the training room. The preparation of well-placed&nbsp;refreshments – coffee, tea and cookies, welcomes participants from an exhausting&nbsp;day. After the participants are well refreshed and recovered from the long day of work, we begin the program&nbsp;at 5 PM&nbsp;at the Exchange and setup the A/V to record. Once the training has been conducted, I follow-up with the candidates by sending out the reading materials and assignments and answering any questions they might ask after class.This is my first time doing all this, but I love it!As I am continuously learning and connecting with people in my profession, it is a good networking opportunity. One of the major skills I learned through this&nbsp;is the skill of training and event coordination. I am constantly communicating with trainees to announce launch dates or any amendments, pitching CFO100 and describing how one can benefit from this training. This is separate from all the knowledge I receive from attending the actual training that Matt delivers.<figure class="image"><img src="/uploads/cfo_100_1_803657f71d.jpg"></figure>What do we hope to accomplish?In simple words, we are trying to train and graduate 100 CFOs over a period of 5 years. The program is aimed at aspiring CFOs (now working as junior/senior accountants, treasury/receivable/payable controllers, budget heads and finance managers) who want to improve their finance knowledge and performance.&nbsp;We cannot find many CFOs in Ethiopia as opposed to finance managers responsible for doing accountant’s tasks. There are finance managers in most accounting departments, which is basically a person who oversees the department and who is responsible for the preparation of financial statements.&nbsp;We are trying to create CFOs; professionals with a holistic view of an organizations performance. This will lead to improved management decision making, since business decisions will not be made in isolation. To achieve this objective, below are some of the important things we discuss in our hands-on training:Accounting system:&nbsp;At RENEW, a company that already invested in seven local businesses, inaccurate financial statements are the major challenge we face while reporting to our remote investors in North America. Through this training, we are teaching our portfolio companies accountant’s and others how to set up an accounting system with competent staff, appropriate accounting procedures and manuals, and strong internal controls.Budgeting and forecasting:&nbsp;We preach that a great CFO is one who works closely with the CEO of the company to advise him/her what the future looks like for any decision-making. CFOs should predict the future by preparing the annual budget with a reasonable accuracy.Financial analysis and risk management: We highly believe a great CFO will critically look at the numbers to prepare key ratios and read the financials to report to the CFO about the profitability, level of gearing, return on investments and figure out risks before they materialize.&nbsp;Chief Finance Officers (CFOs) frequently progress from being a controller and a good accountant or treasurer into a new role where they are expected to participate in developing strategies, manage a group and exercise leadership as well as be on top of the numbers. The CFO100 Program has been designed by RENEW to address those issues that move from technical expertise to the less structured issues of strategic development and working closely with the CEO.By doing this, we firmly believe that we will contribute to the growth of this profession in Ethiopia. Finance is said to be a highly important profession to sustain a country’s economy.We recently collected feedback from the participants, to check if the topics covered were relevant to their work, if the time allocated (2 hours per week apart from self-study) was sufficient, if they believe the trainer knows the subject matter, and we asked to list out the strengths and weaknesses they observed during the training. The responses were mostly positive; some said it was hands on training that focused on real life examples unlike any accounting course they took before. We were delighted to see some areas of improvement for us as well. This is just our first course; we hope the upcoming ones will be even more interesting and more relatable for everyone involved.

An insider's perspective on the CFO 100 Training Program.

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My First-Hand Experience Participating in the CFO100 Program

<h1 style="text-align:center;">Back to The Source: Sesame</h1>Members of RENEW’s Impact Angel Network (IAN) and another U.S. investment group invested in a sesame company based in Ethiopia in September 2015. The investors anticipate that over the next five years, the company will support more than 10,000 small farmers, strengthen the sesame industry in Ethiopia, generate $32 million in export sales and create more than 60 jobs in the manufacturing sector. The investment, like others the IAN has made into small and medium enterprises in East Africa, is anticipated to have a significant impact in the local economy.<figure class="image"><img src="/uploads/dsc_0049_fb0d896db6.jpg"></figure>Why did we decide to enter the sesame sector? In less than a decade, Ethiopia jumped from being a minor producer of sesame to one of the top five sesame producers in the world. Currently, Ethiopia is the 4th largest exporter of sesame globally, and the 2nd largest exporter in the world markets. This export vies with gold and coffee for the largest revenue producing exports for Ethiopia. The country currently supplies 14% of the global market for raw seeds.In Humera, a small town in the Tigray region of Ethiopia, sesame seeds are the main crop. The Humera Sesame Seeds are one of the most sought after sesame seed in the world due to its white color and favorable aroma. This area of Ethiopia provides the perfect conditions for growing the seed which is high in oil content, and contains an appetizing flavor. The secondary sesame seed produced within the country is known as the Welega Sesame, primarily harvested for its high oil content.<figure class="image"><img src="/uploads/humera_0_f19eb55ad6.jpg"></figure>Sesame seeds are a very difficult crop to grow. They’re a tall, lanky plant that can grow between 20 and 60 inches in height. Once ripe, the capsules split open, revealing the seeds. This process coined the phrase “open sesame”. The plant is extremely sensitive due to its weight, and it requires significant manual labor in order to harvest it.Most of the sesame seeds grown in Ethiopia are exported, and processed outside of the country. Because of this, Ethiopia is missing an opportunity to increase sesame revenues. Our new manufacturing plant, Ethiopian Sesame Co. will bring the value and process back into the country. This investment is anticipated to have a significant impact in the local economy.RENEW is proud to be a part of the sesame value chain in Ethiopia(1) <a href="http://ethioagp.org/sesame-2/">Ethiopia Agriculture Growth Program</a> (2) <a href="https://hort.purdue.edu/newcrop/afcm/sesame.html">Sesame: Alternative Field Crops Manual</a> (3) <a href="https://www.alibaba.com/countrysearch/ET/welega-sesame.html">Alibaba.com</a> (4) <a href="http://www.saveur.com/best-sesame-tahini-ethiopia">The World's Best Sesame Seeds Come From Ethiopia</a>

RENEW takes a closer look at the sesame value chain in Ethiopia.

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Back to The Source: Sesame

<h1 style="text-align:center;">5 Weeks, 10 Cities. Where Will We Go to Next?</h1>Matt and Laura Davis, partners of RENEW, have been traveling around the U.S. and Canada to meet with IAN members and potential investors. The multi-city trip started with a visit to New York City in mid-March and a great event co-hosted by <a href="http://www.globalevolution.com/default/latest-news.aspx">Global Evolution</a>, a boutique investment manager specializing in emerging and frontier markets. A special thank you to IAN member <a href="https://www.linkedin.com/in/jodimorrissf/">Jodi Morris</a> for making the kind introduction!<figure class="image"><img src="/uploads/nyc_1_fe2afa119c.jpg"></figure>Guests were invited to sunset cocktails and conversation with RENEW team and IAN members, as well as Global Evolution’s <a href="https://www.linkedin.com/in/robertlmorier/">Robert Morier</a> and <a href="https://www.linkedin.com/in/carolinethauser/">Caroline Hauser</a>. Global Evolution approaches its impact investments through publicly traded sovereign fixed income portfolios. In contrast, RENEW seeks to change the way people view and invest in Africa through a vibrant and experiential angel network and working alongside development partners via public-private partnerships, which in turn leads to investments into SMEs, sustainable economic growth, and a thriving private sector in frontier markets. While RENEW and Global Evolution take different investment approaches, we share a <a href="https://www.linkedin.com/pulse/investing-impact-africa-robert-morier">common vision</a> - a future where African countries are financially independent and control their own destinies.The partners then headed to Canada for meetings in and around Toronto, connecting with fellow impact investment firms and funds, globally focused non-profits, leading incubators and accelerators, and inspiring university students at the <a href="http://www.rotman.utoronto.ca/">Rotman School of Business</a>. All in all, it was a jam-packed but rewarding three days.The trip continued over to the Eastern seaboard to spend time with one of our most active regions in the network - the Delaware group. Matt and Laura, Delaware-based IAN members and entrepreneurs from our Ethiopian investment pipeline went to the Delmarva region to get a closer look at the state’s poultry value-chain. The two-day agenda included an agri-cycle plant, a feed mill, a hatchery, poultry barns, a laboratory that services the poultry industry and various chicken eating opportunities along the way. It was a great way for Delaware members to connect with each other, the region and the investment pipeline. A big thank you to IAN member <a href="https://www.linkedin.com/in/jeffrey-turi-7b883a13">Jeff Turi</a> and our friends at the Delaware <a href="http://www.wtcde.com/">World Trade Center</a> for making this happen!After a brief stint in Washington, DC, the partners headed across the country to Vancouver, Canada to start the West coast portion of the trip. Meetings and a wonderful event hosted at <a href="https://www.urthecast.com/">UrtheCast’s</a> beautiful office in the Vancouver Convention Center set the bar high. A special thank you to <a href="https://www.linkedin.com/in/wade-larson-1858122">Wade Larson</a>, Abraham Fiseha and Aklilu Murat and IAN member <a href="https://www.linkedin.com/in/roman-brent-b6494718/">Roman Brent</a> for pulling together such a stellar group of change-makers.Matt and Laura’s time in Seattle this past week was not to be outdone - IAN members <a href="https://www.linkedin.com/in/brianratzliff/">Brian Ratzliff</a> and <a href="https://www.linkedin.com/in/denise-seavitt-9293258/">Denise Seavitt</a> hosted two fantastic events for us, bringing together globally-minded business and community leaders who are open to thinking, giving and investing differently. The events were highlighted by meaningful discussion on doing well by doing good, impact and Africa.If attending one of these IAN gatherings is of interest to you, don’t fret! We still have a few more cities to go, so if you’d like to join us at an upcoming event, please check out the following information:<ol><li><a href="https://www.eventbrite.com/e/cocktails-conversation-experience-investing-in-africa-tickets-32193992097?ref=enivte001&amp;invite=MTE1Mjk1OTQvZXppZXRoZW5AcmVuZXdzdHJhdGVnaWVzLmNvbS8w&amp;utm_source=eb_email&amp;utm_medium=email&amp;utm_campaign=invitemodernv2&amp;ref=enivte001&amp;utm_term=attend">San Francisco, CA</a> - April 7, 2017 from 6-8pm</li><li><a href="../../sites/default/files/slc_invite.png">Park City, UT</a> - April 11, 2017 from 12-1:30pm</li><li><a href="https://www.eventbrite.com/e/yes-you-can-do-well-by-doing-good-investing-in-africa-registration-32747611989?ref=estw">Denver, CO</a> - April 12, 2017 from 5:30-7pm</li><li><a href="https://www.eventbrite.com/e/doing-well-by-doing-good-investing-in-africa-registration-32952513856">Minneapolis, MN</a> - April 18, 2017 from 5:30-7pm</li></ol>If you have time to meet Matt and Laura, or know other like-minded investors in the above cities who would be interested in learning more about RENEW, the IAN or our upcoming investment pipeline deals, then please reach out and let us know. We hope to see many of you in the coming weeks!

The RENEW team is meeting IAN members and investors across the U.S. and Canada.

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5 Weeks, 10 Cities. Where Will We Go to Next?

<h1 style="text-align:center;">Back to the Source: Emergency Care</h1>Members of the IAN closed an investment in East Africa Emergency Services, Ltd (EAES) in May 2015. EAES serves providers of emergency medical services and training in East Africa, Ethiopia in particular, in order to ensure that international and domestic clients have access to reliable, high-quality emergency care. EAES works in partnership with local firms, such as Tebita Ambulance and Pre-Hospital Emergency Care (Tebita), by offering business development, procurement, and administrative support. This support drives medical service companies to operate more efficiently and thus, frees them up to focus on their core functions; providing quality medical care for patients in crisis.<figure class="image"><img src="/uploads/bts_tebita_8dc88e984a.jpg"></figure>EAES and Tebita, together, aim to improve the quality of and access to emergency healthcare services across Ethiopia and beyond. Kibret Abebe founded Tebita in 2008 as the first private sector ambulance and emergency medical services company in Ethiopia. Kibret is a licensed nurse anesthetist with more than 25 years’ experience. Tebita provides 24-hour ambulance service in Addis Ababa, remote medical assistance to multinational companies (MNCs) operating in Ethiopia, and ground evacuation services throughout the country. Tebita also offers safety and life support trainings for healthcare and non-healthcare professionals in partnership with <a href="https://www.weber.edu/">Weber State University.</a>Kibret, who previously worked as a nurse anesthetist at a major Addis Ababa hospital, founded Tebita after witnessing the poor conditions of traffic accident victims and other emergency medical patients when they arrived at hospitals. In Ethiopia, very few patients are transported to hospitals via ambulance, while the majority travel by public transportation, taxis, or by walking. In fact, one study of the Tikur Anbessa Specialized Hospital found that during 2012 to 2013, 78.1% of the 9,956 patients that came into the emergency department arrived by means other than emergency transport.(1) In fact, in these instances, minimal to no emergency or pre-hospital treatment was provided to the victims either at the scene or during transit.<figure class="image"><img src="/uploads/bts_tebita1_e2c65004f3.jpg"></figure>Road traffic incidents pose enormous challenges across the world. “Globally 1.3 million fatal and up to 50 million non-fatal injuries are reported… it is the second most common cause of death among the most economically active population group (15–44 year-old).”(2) According the World Health Organization (WHO), Ethiopia is considered one of the worst countries in the world where road transportation kills and injures a large number of road users every year.(2)From June 2012 to May 2013, one WHO report, in particular, took a closer look at a major highway connecting two of the country’s largest cities: Addis Ababa and Hawassa. The report found that an estimated 224 deaths and 1,046 injuries/billion vehicle kilometers occurred on this one road alone over the course of a year.(2) And the key word here is “estimated” because vehicular related deaths and accidents are grossly underreported in Ethiopia and other developing countries. Again, from 2012 to 2013, the WHO records a total of 3,362 traffic fatalities for the country of Ethiopia, but estimates that real figure to have actually been anywhere from 18,528 to 29,146 deaths.(3) And with a population of more than 90 million people that is increasingly urbanizing and becoming more motorized, this number will likely continue to rise.<figure class="image"><img src="/uploads/bts_tebita2_dcdf4f780e.jpg"></figure>It is Kibret’s belief that many of these victims could have been saved if given proper emergency, pre-hospital care by trained health professionals. This critical need to improve patient transportation and pre-hospital care spurred Kibret to take action. After traveling to England to experience a professional ambulance and pre-hospital care system, Kibret returned to Ethiopia with the vision to establish Tebita. He proposed a concept to the Ministry of Health and helped craft the government regulatory standards for the industry. Shortly after, he received the first ambulance license and established Tebita. Because banks were not willing to offer loans for an ambulance service provider, Kibret sold his house, bought three ambulances and began operating in 2008.To date, Tebita has provided ambulance services to more than 40,000 clients and emergency training to more than 25,000 trainees. They remain the only licensed, private, for-profit company providing pre-hospital, emergency care in Ethiopia. Tebita has grown its fleet to eleven ambulances and employs 57 full time staff members. “Tebita” is Amharic for “drop,” a message to force every citizen to think about his or her drop of contribution to humanity. Recently, the Ethiopian government named Kibret as an Ambassador of Health and Social Service and honored the company with the “Extraordinary Award For Dedication and Exceptional Contribution On Health And Social Service in Ethiopia”.But, Kibret is nowhere close to calling it quits. Together with EAES, Kibret has a vision to grow Tebita into the premier first response provider and training company in Ethiopia. He also envisions building a home-based healthcare practice and, eventually, developing an air ambulance evacuation service. The sky is truly the limit when you have such a dedicated and passionate entrepreneur behind the wheel.RENEW is proud to be a part of EAES and Tebita’s story of saving lives.(1) <a href="https://bmcresnotes.biomedcentral.com/articles/10.1186/s13104-015-1592-z">Patterns and predictors of early mortality among emergency department patients in Addis Ababa, Ethiopia</a> (2) <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4108419/">Road Traffic Deaths and Injuries Are Under-Reported in Ethiopia: A Capture-Recapture Method</a> (3) <a href="https://www.afro.who.int/publications/global-status-report-road-safety-2015#:~:text=The%20Global%20status%20report%20on,rates%20in%20low%2Dincome%20countries." target="_blank" rel="noopener noreferrer">Global status report on road safety 2015: Ethiopia</a>

RENEW explores five important resources that will help companies take their game to the next level.

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Back to the Source: Emergency Care

<h1 style="text-align:center;">The Big Long Table</h1>Five weeks ago, in February 2017, I ditched my heels for flats, joined RENEW in its impact investment work, and moved to Ethiopia - the land of award-winning long distance runners, out-of-this-world coffee and vibrant, multilingual people. No two days have been the same ever since. The transition has had its highs and lows, for sure, but five weeks later, I am still here in Ethiopia and loving every moment of it. And I have the “Big Long Table” (BLT) to thank for it.The BLT: Just so we are clear, I am not talking about the sandwich here (although I could do with one right now). At RENEW, the entire team sits and works together around a BLT. It might look odd to you at first, but it’s actually quite brilliant. By having managers and staff all sitting within speaking distance from one another, we are extremely efficient and timely in exchanging information, facilitating quick discussions to advance work and problem solve, and become up-to-speed with the progress of our projects. The BLT has one added benefit for a newbie like me: I get to watch my team work and learn in real-time how the best in the industry do what they do, successfully. The BLT has allowed me to see things.<figure class="image"><img src="/uploads/dsc_0113_1_9d99a14263.jpg"></figure>What I Saw: In the beginning, to be honest, I was seeing what I expected to see - the challenges that come with the territory of operating an investment firm in a frontier market. The portfolio companies were slow to respond to my emails and inquiries, I had difficulty validating the information I received, government regulations were unclear and, at times, absent. It was all seemingly bad news.But then, sitting at the BLT day after day, I began to notice something. The portfolio managers visited the portfolio companies in person and took the entrepreneurs through the reasons for our inquiries and the benefits that they would ultimately reap if they replied with accurate and up to date information. The analysts called the portfolio companies’ accountants and worked with them to verify the financials; they even spent half a day in their offices to get things done. Management in both Ethiopia and North America worked tirelessly with the Ethiopian government to clear the path for investment approvals.Every member of the team found creative ways to remove roadblocks, one after another. It was hard work and not all the activities would have been necessarily deemed “efficient” by developed countries’ standards. But the RENEW team showed me that there’s always a successful way to navigate the complex Ethiopian business and cultural context, which in turns would allow the team and our portfolio companies to get the right things done and grow into market leaders.Lessons Learned from the BLT: Through their actions, the team reminded me that the challenges I saw are really not that different from the ones I had experienced in Canada and the U.S. The important thing was to stay disciplined and to focus on the opportunities and not on the problems. And above all things, the team taught me that the most important aspect about working and living in Ethiopia is the importance of being a great relationship manager.Ethiopia, as in any developing nation, can be bit separated from the rest of the world and has a singularly unique history, culture, and national identity. And while the people embody different values and cultures, they will be open and respectful if I truly take the time to ask questions and understand where they come from.It does not mean that I cannot bring change nor be disruptive. In fact, new ideas are welcomed. What the team taught me was that, in this environment, trust and relationship among the team members, portfolio companies, and community at large are not just greatly valued, they are indispensable.Fve Weeks Later: I find that the people in Ethiopia are warm and generous, and the work we are doing is meaningful. I now have better clarity and a roadmap of how to approach and achieve RENEW and the portfolio companies’ business objectives, thanks to the team and the BLT.Moreover, there’s something about the rawness of the environment, the extremes of climate and the intense humanity that strips you down to the essence of who you are. And while that may sound crazy to some of you, I kind of like it.