<figure class="image"><img src="/uploads/cac_1_3503ca2056.jpg"></figure><h1 style="text-align:center;">&nbsp;</h1><h1 style="text-align:center;">North Carolina Impact Angels Visit Ethiopia</h1>We had an incredible time hosting our North Carolina Impact Angels in Addis two weeks ago! Some members of the group were familiar with Ethiopia before arriving, while for others it was a first-time, eye-opening experience. We spent six days in Addis meeting with a number of businesses and leaders, including: the President of Ethiopia, the Ethiopia Commodities Exchange, presidents and executives from local banks and insurance companies, countless business and development stakeholders, and twelve business owners.<figure class="image"><img src="/uploads/cac_6_f35f137106.jpg"></figure>The investors were surprised to see so much development, growth and opportunity in Addis. They noticed signs of a rising middle class, such as private healthcare needs, workout facilities, and hair salons. They were encouraged by the great people they met that want to work and build their country, and the returning Diaspora that see an opportunity to return home.Our investors were also surprised to hear first-hand the desires of Ethiopians to work and partner with U.S. investors, and the wide range of sectors in which to invest, from manual labor to technology.<figure class="image"><img src="/uploads/cac_3_52dafb3d33.jpg"></figure>As the group was able to speak with more Ethiopian entrepreneurs, they grew more excited about the positive attitude and drive of the management teams they met, the education of the trained workers within the businesses, the signs everywhere pointing to growth in the agriculture, healthcare, energy, and technology sectors, and seeing that many companies are actively looking to move women into leadership roles and working to improve the lives of their employees.Overall, the North Carolina Impact Angels had a successful and exciting week learning more about Ethiopia and the many opportunities here. We look forward to more groups of Impact Angels coming to Ethiopia as we continue our efforts to implement a new model for impact investing in Africa.<figure class="image"><img src="/uploads/cac_4_b234adaa32.jpg"></figure>&nbsp;

Read about what our North Carolina Impact Angels were up to in Ethiopia...

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North Carolina Impact Angels Visit Ethiopia

<h1 style="text-align:center;">In the News…The Africa Beats</h1>Impact Investing Huffington Post - "Impact investing is an effort to nudge more commercial investment capital into the social investing space by getting them to consider the social impacts of their investments alongside financial returns using double or triple bottom line approaches. In its ideal form, impact investing holds great promise for shifting significant sums of capital. According to a recent research report by the Monitor Group, the impact investing industry could grow from its present $50 billion to $500 billion in assets within the next decade." <a href="http://www.huffingtonpost.com/john-f-ince/why-are-we-stomping-on-th_b_3231643.html">Read full article</a>Invest in Africa WSJ - "Nine out of 15 of the world's fastest growing countries today are African. Over the past decade, the continent's economies have grown at an average 5% per annum. Foreign direct investment, which stood at $9 billion at the turn of the millennium, last year exceeded $80 billion. Far from being a flash in the pan, this is the result of a sustained period of increasingly sophisticated economic management and stable politics." <a href="http://online.wsj.com/article/SB10001424127887324767004578485234078541160.html?utm_source=Copy+of+Africa+Center+for+Strategic+Studies+-+Media+Review+for+May+17,+2013&amp;utm_campaign=5/20/2013&amp;utm_medium=email">Read full article</a>ENCA - "Three African countries have been listed in the top ten of the 102 best places in the world to invest. A report by the US think tank, Foreign Policy has ranked countries by their attractiveness as investment destinations. Southern Africa’s Botswana, East Africa’s Rwanda and West Africa’s Ghana have all been listed among the 10 best places in the world to invest. This is based on the ease of doing business, the return on investments and the stability of the country. In first place on the continent and second globally is Botswana. Botswana is one of Africa’s least populated and wealthiest countries." <a href="http://www.enca.com/africa/africa-among-best-invest">Read full article</a>SMEs in Africa All Africa - "As an African entrepreneur, I keenly await the outcomes of the 2013 World Economic Forum on Africa. One of the key issues to be discussed is how to accelerate economic diversification to deliver on Africa’s promise. This can be explored on three different levels: the types of industry and economic activity carried out across the continent; the promotion of workplace inclusivity; and the rectification of some of the economic imbalances in the demographics of many African economies." <a href="http://allafrica.com/stories/201305091085.html">Read full article</a>

Welcome to RENEW's In the News. The following post includes highlights on topics such as Investing in Africa, Impact Investing, and Investing in Ethiopia.

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In the News…The Africa Beats -  Part 2

<h1 style="text-align:center;">In the News... The Africa Beats</h1>Impact Investing Raising the Profile and Opportunity in Africa Rockefeller Foundation - "Although Africa is often the destination of impact investing capital, the continent has rarely been the genesis of the conversation. In the past two months, however, impact investing in Africa has been the topic of convenings bringing together investors, thought leaders, philanthropists and impact entrepreneurs from across the continent. Impact investing might seem to an obvious topic of common interest amongst the investor community in Africa, given the massive unemployment challenge and growing social inequities despite what is an incredibly positive growth picture." <a href="http://www.rockefellerfoundation.org/news/news/impact-investing-raising-profile">Read full article</a>Invest in Ethiopia Chinese Investment Creates a New Global Hub in Ethiopia The Africa Report - "Huajian Group and other investors are creating a shoe manufacturing cluster that is set to employ more than 100,000 Ethiopians over the next 10 years." <a href="http://www.theafricareport.com/East-Horn-Africa/chinese-investment-creates-a-new-global-hub-in-ethiopia.html">Read full article</a>Brazil to Boost Investments in Ethiopia Reuters - "Brazil signed cooperative agreements with Ethiopia on Friday and Brazilian companies are looking to expand investments in the fast-growing Horn of Africa country, an Ethiopian minister said. 'There is a desire on the part of Brazilian companies to involve themselves here and the government along with us is ready to inform Brazilian enterprises to engage in Ethiopia as there is a huge opportunity here,' Gebrekristos told journalists in Addis Ababa on the sidelines of an African Union summit." <a href="http://news.yahoo.com/brazil-boost-investments-ethiopia-074357484.html">Read full article</a>Ethiopia, Japan Hold Investment Forum Bikya News - "Following the successful conclusion of the TICAD V summit, the Ethio-Japan Investment forum was held on Monday in Tokyo, at the headquarters of the Japan External Trade Office (JETRO). Minister of Foreign Affairs Dr. Tedros Adhanom, in his address, noted that Japan is a strategic partner of Ethiopia. He added that the two countries are enjoying a successful partnership. However, he pointed out that the trade and investment relation between the two countries leaves much to be desired and invited Japanese investors to take part in Ethiopia’s dynamic growth." <a href="http://bikyanews.com/89152/ethiopia-japan-hold-investment-forum/">Read full article</a>Invest in Africa Africa’s Emerging Middle Class Drives Growth and Democracy Reuters - "After years of headlines about Africa's poverty, its emerging middle class is now grabbing attention as a driver of growth and democracy and an expanding pool of consumers for market-hungry retailers. Consumer demand is a motor of Africa's economic and investment surge, and analysts see middle class buyers with swelling disposable income as fuelling this boom from South Africa to Nigeria and Kenya. 'It's probably the fastest growing consumer class in the world, as a region,' said Michael Lalor, director of Ernst &amp; Young's Africa Business Center in Johannesburg." <a href="http://www.reuters.com/article/2013/05/10/us-africa-investment-idUSBRE9490DV20130510">Read full article</a>Google Makes First Renewable Investment in Africa EcoSeed - "Internet giant Google has made its first ever renewable energy investment in Africa. Located in the Northern Cape province of South Africa, the $12 million Jasper Power Project has 96 megawatts of solar photovoltaic capacity. The P.V. plant will be of the largest installations in the continent when completed, providing clean electricity to approximately 30,000 South African homes. 'We believe this investment not only makes financial sense, but also has potential to help grow the renewable energy industry and move the world closer to a clean energy future,' said Google, which has committed over $1 billion to renewable energy investments." <a href="http://www.ecoseed.org/business/other-markets/16540-google-makes-first-renewable-investment-in-africa">Read full article</a>Japan to Invest Billions in Africa All Africa - "Japan will provide $1 billion in aid over the next five years to northern Africa for economic development and humanitarian efforts, including help with security and counter-terrorism measures. Japanese Prime Minister Shinzo Abe announced the assistance Sunday, on the second day of the three-day Tokyo International Conference on African Development, being held in Yokohama, south of the capital city. Abe says the investment of public and private funds over the next five years is aimed at helping growth on the continent and encouraging Japanese companies to invest there." <a href="http://allafrica.com/stories/201306031068.html">Read full article</a>Job, Wealth Creation will Liberate Africa CapitalFM - "President Uhuru Kenyatta has called on African countries to invest enormous resources towards wealth and job creation. He said this will stimulate greater African social-economic integration and achieve the African aspiration for renewal and renaissance. President Kenyatta observed that to attain this great dream, African states must also avail the requisite resources to the African Union Commission to enable it implement programmes that promote peace and advance development of the continent." <a href="http://www.capitalfm.co.ke/news/2013/05/uhuru-job-wealth-creation-will-liberate-africa/">Read full article</a>United Nations Calls for Peace in Africa to Promote Trade and Investments Standard Digital News - "United Nations is calling on African Countries to promote peace to attract investments and grow its trade with other continents. Speaking on Sunday during a meeting to address issues relating to Private Sector,Trade and Investment as Engines of Development in the ongoing Tokyo International Conference on African Development (TICAD) in Japan, UN attributed the low foreign investments in the continent to unstable peace which scares potential investors. 'There is need for governments, players in the private sector and civil society organisations to enhance peace so as to create a conducive environment for economic development,' said Ban Ki-Moon, the UN Secretary General said. 'Exports from sub Saharan Africa to Europe, Asia and the West is still very minimal in the world and there is need for paradigm shift so as to integrate Africa in the world economies,' he said." <a href="http://www.standardmedia.co.ke/?articleID=2000085050&amp;story_title=un-calls-for-peace-to-promote-investments<br%20/>">Read full article</a>

Brazil signed cooperative agreements with Ethiopia, and Brazilian companies are looking to expand investments in the fast-growing Horn of Africa country.

In the News... The Africa Beats - Part 1

<h1 style="text-align:center;">Impact Angels Uniting</h1>It's 6:30am on a humid morning in Dallas, Texas. We’re crisscrossing though the streets of this beautiful city in search of a hip breakfast spot where we’re scheduled to meet a group of potential investors, friends and curious guests for breakfast. They are coming to hear a very different story about Africa. The table fills up with business executives, college students, young professionals and savvy connectors. After some formalities and a few rounds of coffee, we start: “We are not here to talk about giving money, poverty, problems in Africa or microfinance. I’m a capitalist. I believe in profit-making business, and that’s what I am here to talk about. RENEW is creating a new path for the West to engage with Africa. The services we provide are not for everyone. The investments we do are risky. And we are selective about who we work with.”After 20 minutes we finish, and the questions start flowing in with far more excitement than doubt: “What types of sectors are you looking at?” “How do you structure your investments?” “How do you form an angel group?” “When’s your next trip?” “Do you offer internship opportunities?” America is tired of the old Africa story. They are hungry for someone to tactically explain how they can invest in the fastest growing economies in the world.<figure class="image"><img src="/uploads/photo_dinner_fort_worth_0_9d3ba544fb.jpg"></figure>This was just one story. In May and June the RENEW team had many of these meetings, with similar outcomes in each city: “We want to start an impact angel group.” We had meetings in Delaware, North Carolina, South Carolina, Washington, DC and Georgia - in total 25 meetings with 38 impact angels, eight investment partners, and one fund. In cities like Charlotte, North Carolina, impact angel groups meet on a regular basis to pore over financial statements, negotiate terms with entrepreneurs and plan their next investment trip to Ethiopia. Across the United States impact angel groups are forming to take up ethical capitalism - impact investing - in Africa. The groups are being started by successful executives and entrepreneurs that know how to start, grow and run companies. They will be making direct investments into small and medium enterprises (SMEs) in East Africa with the goal of building market-leading firms, creating jobs, and getting good returns. I liken it to Warren Buffet meets Indian Jones.There is something refreshing and satisfying in the voices of the people as they leave our breakfast meeting, as if we have realigned something in their minds: they can finally talk about ‘investing’ and ‘Africa’ in the same sentence and feel good about it. Some of these guests have traveled to Africa on mission trips and safaris, quietly wondering how they could use their real talents to do more than build schools or give two-day training seminars. And now, they have an answer.At RENEW, we are not doing anything special or innovative. We are simply doing what China, India and many other countries are doing in Africa: getting in on the ground and doing business. And doing it with a steel ethical backbone. Ethical capitalism - it will always triumph. Our impact angels have a front-row seat to Africa’s industrialization, and they are architecting a new way for the U.S. to participate in Africa’s changing story.This week we are hosting an impact angel group from the U.S. here in Ethiopia, with another group coming in July. In August and September, members of the RENEW team will be back in the U.S. holding events in Texas and along the East Coast. If you are interested in joining or forming an impact angel group, or attending one of our events, please contact Kathleen DeLaHoussaye at <a href="mailto:kdelahoussaye@renewcapital.com">kdelahoussaye@renewcapital.com</a>.

It's 6:30am in Dallas, Texas. We’re crisscrossing though the streets of this beautiful city in search of a hip breakfast spot where we’re scheduled to meet a group of potential investors, friends and curious guests for breakfast.

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Impact Angels Uniting

<h1 style="text-align:center;">RENEW Represented on Impact Investing Panel</h1>RENEW's Tom Scriven joined several others in the field of impact investing for a panel discussion at <a href="http://business.gwu.edu/CIBER/facultydevelopment/FDIBWelcome.cfm">George Washington University's School of Business</a> on June 14. The panel, 'Impact Investing: Building Institutions Through Investment', was part of a week-long workshop hosted by GWSB on succeeding in emerging markets and the role of institutions.Tom joined Ambassador John Simon of <a href="http://www.totalimpactadvisors.com/">Total Impact Advisors</a> and Randall T. Kempner of <a href="http://www.aspeninstitute.org/policy-work/aspen-network-development-entrepreneurs">Aspen Network of Development Entrepreneurs</a> for a robust discussion on the topic. The panel was moderated by Dr. Reid W. Click, director of GW-CIBER at GWSB.<figure class="image"><img src="/uploads/gw_panel_0_f82d3af854.jpg"></figure>

RENEW's Tom Scriven joined George Washington University's discussion on impact investing in June.

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RENEW Represented on Impact Investing Panel

<h1 style="text-align:center;">RENEW Facilitates Investment into dVentus Technologies</h1>RENEW is pleased to announce the close of an investment into dVentus Technologies, an Ethiopian clean energy company. The investment was capitalized by members of the Ethiopia Angel Network (EAN), the Charlotte, North Carolina-based chapter of RENEW's global Impact Angel Network, along with other members throughout the U.S.<figure class="image"><img src="/uploads/photo_dventus_b547c80ff5.jpg"></figure>dVentus Technologies is a clean energy company based in Ethiopia focusing on system integration and energy efficiency solutions for renewable energy projects and advanced transportation. The angel investors began discussions with dVentus' CEO Daniel Gizaw in February 2013 during an <a href="https://renewcapital.com/investor-lounge/econ-tourism">Econ-Tourism trip</a> to Addis Ababa.The EAN was drawn to dVentus both for the high potential for social impact and the company's exemplary management team. Mr. Gizaw has 25 years' experience developing and manufacturing the latest energy conversion technology. He and members of his team have worked on a variety of high technology innovations for General Electric, Ford Motor Company, NASA and United Technologies, among others.The investment will allow dVentus to develop prototypes of energy efficiency products including smart grid application solutions. dVentus plans to manufacture and deliver these technologies to Ethiopian and international clients. The efficiencies created by these systems could save the equivalent of a large hydroelectric dam. Anticipated social impacts include 200 new highly skilled, professional and primarily engineering jobs and millions of Ethiopians with access to more reliable, efficient energy.<figure class="image"><img src="/uploads/photo_dventus3_69cd87cf94.jpg"></figure>Tip Moore, one of the members of the Ethiopia Angel Network, is hopeful about the implications the investment will have for Ethiopia and other African countries. "We are extremely excited about our investment in dVentus. This investment will allow dVentus to take their operations to an even greater level and help Ethiopians better manage their energy. Energy management is the wave of the future and dVentus is helping lead the way."RENEW is excited to be part of Africa's changing story and we are thrilled to see the potential of this investment unfold in Ethiopia. &nbsp;

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RENEW closes an investment into an Ethiopian clean energy company.

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RENEW Facilitates Investment into dVentus Technologies

<h1 style="text-align:center;">A Day in the Life: Part II</h1>To read A Day in the Life: Part I, click <a href="day-life.html">here.</a>By 11am we finally arrive at the company. It is a large steel structure tucked in between a row of other steel structures. Like so many others, inside are businesses eager to manufacture products that were once imported from China, but are now being manufactured in Ethiopia. The owner, an engineer, comes out to greet us. He has a clipboard in hand, suggesting that we interrupted him from his work - we did. As we walk inside, the floor of the building is alive with workers welding, pounding and screwing machines together. He was busy doing quality control on the newly minted inventory that will be shipped out to the far corners of the country at the end of the week. The customer is the government. The product is a new seed-planting machine that will help increase yields on tef, one of the country’s staple crops and the signature grain of Ethiopia. After thirty minutes of walking around the plant and speaking with floor managers, we have coffee (“buna”) with the owner. I’m not only trying to understand his business, but to also get a sense of what it will be like to work with him. One of our biggest challenges with companies in Ethiopia is whether they are ready for an investment and understand what it means to work with an investor. If both answers are not favorable, the costs of doing an investment can go through the roof.At 12:30pm we are in the car heading back to the office. We debrief the meeting, fill out our post-meeting form and rigorously score the company. Companies that make it through pre-due diligence are presented to our network of impact angels.<figure class="image"><img src="/uploads/photo_cac_tall_building_770e10eb1f.jpg"></figure>Around 2pm, Kathleen, our colleague in Texas that manages our investor network, is up, and we start prepping for our impact angel call with the DC chapter, scheduled at 8am Eastern. Problem: the network has been bad all day. Kathleen and I feverishly g-chat back and forth, framing the conversation and the key decisions points so, in case I drop off (99% chance I will), she can easily pick up the ball and continue the conversation. We’ve gotten pretty good at this.It’s now 6pm. Where did the day go? The team is winding down our day as the US team is in full swing along with Addis rush hour traffic. I walk out to the balcony of our office in the TK building to steal a moment to reflect and collect my thoughts. The view to the west is perfect. The sun has fallen below the cloud line and a few rays break through, making the Addis skyline look like a silhouette. The skeleton structures going up almost everywhere give me hope. To the east is Addis International Airport. I watch a huge, Ethiopian Airlines 777 take off before going back into the office to close things up.This week we are hosting another impact angel group from the U.S. here in Ethiopia. In August and September, members of the RENEW team will be back in the U.S. holding events in Texas and along the East Coast. If you are interested in joining or forming an impact angel group, or attending one of our events, please contact Kathleen DeLaHoussaye at <a href="mailto:kdelahoussaye@renewcapital.com">kdelahoussaye@renewcapital.com</a>.

Part II of a typical day in Ethiopia for the RENEW team...

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A Day in the Life: Part II

<h1 style="text-align:center;">Results from a 5-year, innovative finance project in Ethiopia</h1>In 2016, Global Affairs Canada’s (GAC’s) Accelerating Business Growth (ABG) program set out to do something innovative and challenging: Develop Ethiopia’s capital markets and accelerate the formation of its private sector by supporting investments and the growth of small and medium enterprises (SMEs). A number of private sector projects were already focusing on building the “demand-side” through startup incubators, accelerators and technical assistance. But ABG focused on building the “supply-side” by organizing, mobilizing and managing innovative pools of finance for SMEs. Using blended finance, ABG lowered the risks for investors and mobilized new sources of capital for SMEs.&nbsp;The ultimate outcome of the ABG program was “stronger and more sustainable job creation, including those for low-skilled workers, men, women and young adults, through a dynamic and growing small and medium business sector in Ethiopia” with the target of supporting Ethiopian women- and men-owned SMEs in attracting more than $52M CAD of capital to scale their businesses and supporting 5,000 jobs for low-skilled workers, including men, women and young adults.Interested in learning more? Join us on Tuesday, October 26, 2021 at 9AM Eastern (4PM East Africa) to unpack lessons learned from this blended finance project. <a href="https://teams.microsoft.com/registration/22T3OmbKiEGoDHvv7nBQpg,WaMFc_bLZ0-fk4_df0G0Mg,IybsuXl5mEWes-lNfFW3lQ,xwQfs94gCE-9BGlHA8zMnQ,iEXNRl_Sv0iyyGUSNJsmfA,PAUQ1sVH3U-2xzl31lFCzA?mode=read&amp;tenantId=3af764db-ca66-4188-a80c-7befee7050a6&amp;skipauthstrap=1">REGISTER HERE</a>.<figure class="image"><img src="/uploads/097_A2825_0131b43ee9_67f1305f8d.jpg"></figure>Where most private sector interventions focus on the “demand-side” of the private sector through initiatives that support microenterprises, incubators and accelerators, ABG focused on developing the “supply-side” or capital formation side of the private sector. Where most interventions have struggled to organize and mobilize additional sources of capital for creating impact, ABG built and expanded new sources of capital for SMEs, including global and local angel networks and the formation of new blended finance vehicles. ABG also focused on SMEs because SMEs are the greatest contributor of new job growth in frontier markets like Ethiopia.&nbsp;By focusing on capital formation and mobilization for SMEs, the project addressed a systemic issue in Africa known as the “missing middle” - a gap in the capital markets between microfinance and formal investment funds and banks where few sources of capital exist. The ABG project built a stronger supply-side of capital for Ethiopian SMEs, or “rungs” in the capital market to fill the missing middle. ABG then trained SME owners and executives on business skills to attract and improve performance once they received capital.&nbsp;After five years of implementing the project, ABG helped mobilize $79.6M CAD of capital for SMEs, supported 6,744 jobs, including 2,632 created jobs, of which 60% or 4,069 were for women.&nbsp;<figure class="image"><img src="/uploads/abg1_256718a170.png"></figure><figure class="image"><img src="/uploads/abg2_7faea8945d.png"></figure>The ABG team is proud to have impacted Ethiopia’s private sector and achieved numerous stated project targets and complementary indirect outcomes. The project also helped influence policies, trained over a thousand companies, created a local angel network, and launched awareness programs that we believe will generate impact for years to come. A detailed summary of these ABG project results is provided below.&nbsp;<hr>SUMMARY OF RESULTS ACHIEVED BY THE PROJECT:<ul><li style="text-align:justify;">Reached and surpassed the project’s ultimate outcome indicator by supporting 6,744 jobs over the course of the project, on the target of 5,000, of which 4,070 or 60% are held by women.</li><li style="text-align:justify;">Realized a financing leverage ratio of 9.7x by supporting Ethiopian SMEs in attracting $79.6M CAD of financing, exceeding the project target of $52.5M. Of this, $19.1M or 24% was attracted by women-led businesses.</li><li style="text-align:justify;">Designed and developed the Women-Owned Business Investment Fund (Women’s Fund) specifically for investing in women-owned SMEs, trapped in Ethiopia’s financing missing middle. The fund invested in Queen of Sheba, a partner of Travel Ethiopia; an eco-minded tour and safari operator that has a deep commitment to Ethiopia’s environment, wildlife and community development.</li><li style="text-align:justify;">Successfully trained and graduated:<ul><li style="text-align:justify;">Five cohorts of The Exec’s Program, graduating 93 executives, of which 44 (47%) are women. 93 exceeds the project target of 75.</li><li style="text-align:justify;">Five cohorts of The CFO100 Program, graduating 130 finance professionals, of which 50 (39%) are women, exceeding the project target of 100.</li><li style="text-align:justify;">Facilitated in-person and online private equity investment seminar incubator training sessions, attended by 1,238 SME business owners and representatives, of which 433, or 35% are women. This result exceeds the project target of 650 by nearly double.</li></ul></li><li style="text-align:justify;">Expanded the Impact Angel Network (IAN) into Canada by training potential investors on the opportunities of investing in Ethiopian SMEs, engaging with local angel groups and ultimately registering an additional 93 members over the course of the project, of which 19 are Canadian (20%).</li><li style="text-align:justify;">Due to an increased focus on gender equality, the team developed the Women in Finance (WIF) peer to peer support series during the second year of the project, aimed at energizing and empowering women finance professionals and executives in Ethiopia who face cultural and professional barriers. 10 total events were facilitated, in various formats and settings, and were attended by 328 women.</li><li style="text-align:justify;">Launched an edutainment platform known as Chigign, aimed at raising awareness of and building interest in entrepreneurship and angel investing in Ethiopia. The TV series was broadcast on national television (FANA TV), and involves entrepreneurs looking to raise seed capital pitching their ideas to a panel that includes RENEW’s Laura Davis and other local angel investors. This program, which started as a concept under ABG, has reportedly been viewed by 40 million watchers. RENEW recently partnered with the World Bank’s Gender Innovation Lab to design a research program to measure Chigign’s content to optimize it and increase female participation in the entrepreneurial ecosystem.</li></ul>

Outcomes from our project with Global Affairs Canada (GAC)

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Results from a 5-year, innovative finance project in Ethiopia

<h1 style="text-align:center;">RENEW Featured in the Washington Post</h1>The <a href="http://www.washingtonpost.com/business/economy/physicist-turned-businessman-seeks-opportunities-in-sub-saharan-africa/2015/05/03/53c3de08-f03f-11e4-8abc-d6aa3bad79dd_story.html">Washington Post</a> highlighted RENEW LLC and the compelling story of its founders Matthew and Laura Davis. The Post's Thomas Heath wrote about three of the Impact Angel Network's investments which RENEW facilitated as part of our strategy to promote thriving businesses, create jobs, grow Ethiopia's economy and generate financial returns for investors. "This is Capitalism 101" [Matt] says. "If you do it well, you can lift yourself out of poverty."<figure class="image"><a href="http://www.washingtonpost.com/business/economy/physicist-turned-businessman-seeks-opportunities-in-sub-saharan-africa/2015/05/03/53c3de08-f03f-11e4-8abc-d6aa3bad79dd_story.html"><img src="/uploads/blog_2_0f8f02d7e0.png"></a></figure>(Photo Credit: Ricky Carioti/The Washington Post)

The Washington Post highlights RENEW LLC and the compelling story of its founding.