Meet the 2018 Ethiopian Enterprunership Award Winnners

Celebrating the international Entrepreneurship week, the Ethiopian Entrepreneurship development Center (EDC) has awarded the following entrepreneurs.

1. Semhal Guesh/ Young Female Entrepreneur

The award for young female entrepreneur of the year went to Semhal Guesh, Founder & CEO of Kabana Leather. Kabana Leather produces a wide variety of handmade leather products. Semhal’s work enables her to train and reach women and internally displaced people to transform their lives for sustainable change. As a young successful entrepreneur Semhal aims to be a role model for many young women to follow her footsteps.

2. Yodan Tilahun /Seasoned Entrepreneur of the year

 

 

Yoadan Tilahun, the winner of the 2018 seasoned entrepreneur of the year, is the Founder of Flawless Events Management Company that provides skillful event management services with strategic advisory, complete planning, execution and logistics support. Flawless has grown from hosting 2-3 events per year to now hosting on average 60 events a year. The company’s professional team is made up of 99% women, and ensures the recruitment of young talents fostering them to grow into leadership positions.

3. Anteneh Wondeimu/ Young Male Entrepreneur

 

 

Anteneh Wondimu, the founder and managing director of a Dry Waste Collection and Disposal Company is the winner of the young male entrepreneur of the year award.  The business that he started informally with his friends using manual labor transitioned into industrial waste collection business with 46 employees and nine operating trucks. Anteneh is in the process of establishing a waste recycling factory.

Source: et.undp

Ethiopian Coffee Startup bringing the Aroma to China Market

BUNA SITEGNE
This Ethiopian homegrown coffee brand is opening 100 cafés in China
By Abdi Latif DahirOctober 22, 2018
Bethlehem Tilahun Alemu has a dream: that everyone should one day taste hand-roasted Ethiopian coffee.

Widely acknowledged as the birthplace of coffee, Ethiopia is one of the world’s largest coffee bean producers and Africa’s top grower of the plant. Coffee is also brewed and drank in the Horn of Africa nation in elaborate ceremonies, often using crafting techniques passed down from generations over centuries. As an entrepreneur, Alemu always wanted to replicate this dynamic experience—what she calls “the magical process”—to coffee lovers worldwide.

And so was born in 2016 the idea for Garden of Coffee, a brand that uses artisanal methods to source, process, roast, and package Ethiopia’s legendary beans. Twenty workers at the company’s atelier in Addis Ababa currently oversee this activity, roasting five types of coffee beans only for individual orders and shipping them to over 20 countries including Russia, Sweden, Germany, and the United States.
This personalized roasting, Alemu says, helps preserve the quality of the coffee for the final customer, reduces the ecological footprint associated with factory roasting, and creates a business model that values local manufacturing. This is especially vital as Ethiopia takes crucial steps in improving governance and accelerating poverty reduction and economic growth through job creation.

The 2015 Quartz Africa Innovator also employs similar ethical practices with her shoe brand SoleRebels, which are made by locally-trained artisans in Ethiopia and shipped all over the world.
China-bound
Alemu is now venturing out of Ethiopia. In August, Garden of Coffee launched in China, a tea-loving market that is increasingly turning towards coffee. Starbucks, Coca-Cola, e-commerce giant Alibaba, hedge fund manager Bill Ackman, and local Chinese start-up Luckin Coffee have in recent years all bet big on China’s nascent coffee scene. Java House, East Africa’s largest chain of coffee shops, also said in August it would capitalize on this increased demand for specialty coffee to supply the Chinese market.
GARDEN OF COFFEE
Garden of Coffee’s WeChat promo
Through a deal with Suzhou Reyto trading company, GOC says it will ship 12 tons of hand-roasted coffee to China in the first year. The company has also launched advertisement and marketing on the multi-purpose messaging and social media app WeChat, will soon place its product on the shopping site Taobao. But it’s big plan is  to open over 100 café roasteries across China by 2022. Through a subscription service, customers will also be able to receive their favorite coffee of choice in one, two, or four-week intervals.
By embracing traditional Ethiopian roasting methods and taking them globally, Alemu says she hopes to shape the “fourth wave” that is defining coffee’s evolution. The first wave involved the mass drinking of the brew, the second grew with the rise of a coffee culture through brands like Starbucks, while the third focused on artisanal coffee making. The fourth wave now focuses less on commercialization, more on long-term sustainability, besides promoting and preserving local ways of farming. Placing Ethiopian coffee at the heart of this movement is only pragmatic, argues Alemu. But it is also a judicious growth strategy: because of demand, Garden of Coffee is set to increase its hand-roasting artisans to 300 by 2021.
GARDEN OF COFFEE
Garden of Coffee roasted samples
“We are doing this not only because hand-roasting coffee is an ancient art that we strongly feel is worth preserving and promoting, but because we believe this method of coffee roasting is the key to unlocking Ethiopian coffee’s true magical tastes,” Alemu tells Quartz. “That’s the critical distinction.”

 

Source :Quartz Africa

How to get Money for your start up in Ethiopia- 10 startup financing ways

You are may be feed up of job hunting or jumping from one unsatisfactory jobs to other, or coming back from abroad to pursue your small business, but when you plan to implement your idea there comes the issue of money. Where does the money come from?  , in a closed bank business environment like of ours it is hard to get a loan from banks which ask big assets to get your money.

Here are some of the ways to mobilize funds for your next big startup idea, take which ever suits your and interests conditions.

1. Self Financing – The is your first option to consider while searching for funds. If you are employee check whether you are getting enough from your salaries, if not change your Job make sure you have enough cash flow for your biz. Check out any assets you have which can be rented or sold to bring you the required fund. 

2. Friends and families: Family members and friends can be easier to persuade than anonymous bank officials.Share your ideas to one of your the ants who said you are her favorite son. Few things can complicate friendly or familial loans though, it may damage your relationships if you are not going to pay as you planned but its they will understand.

3. Small Credit And Banks: Check out one of Small Credit and saving institutions near you they have different option for loans and payments and less collateral requirements and   don’t  forget that the government has allocated 10 billion birr for job creation through them.

4. Find Machinery Lease Financing : If your business involves some machinery and equipment’s check out Addis Capital lease and finance company. They have awesome chance to get loan only with 15% contribution from your side. 

5. START or Join EKUB : Ask all of the traders in Merkato from shoe shiners to millionaire’s about their financial source, all of them they will give you one answer ‘ekub!!’ . Find your trusted ones and ask them to find you some ekub or establish it by your self. 

6. Find Partner : So you couldn’t find the fund, why don’t you make it a share company. Tell your friends and families to be in to your business, but make sure you have established a clear organization as we are seeing many partners failing. 

7. Angel Investors-Even though it is not common to get institutionalized angel investors in Ethiopia, there are many reach guys who are confused in what do with their saved money. Prepare your bplan nice and present to whoever cares about your ideas.
8. Find Funds: These days there are different funds both by government and NGO’s which will provide you finance based on viability and innovation of your ideas. So join with your bplan for one of innovation and entrepreneurship competition.

9. Decrease your establishment cost– Before you jumping to lot of start up costs why don’t you try your idea from your home, many of the world best business started from   garage.
10. Work with your friend license : Do you know any body who is in business with an idea similar to you, why don’t you join with him to work under his establishment. As a trial for your business

Kaldis set to open KFC

As Kentucky-based Yum! teams up with Belayab Foods to bring Pizza Hut in the capital, Kaldis – Ethiopia’s premier café is set to open KFC.

Source: Kaldis set to open KFC

Top Seven Ethiopian Entrepreneurs to Watch in 2018

As the dynamism and momentum of Ethiopia’s economy keep growing  remarkably,  here are the list of entrepreneurs to watch in 2018 in different sectors of the economy.

1. Haile Gebereselassie: Haile is not only a champion of world records in field and track, but he is dynamic entrepreneur breaking investment records in Ethiopia. From Gentle start up of building office flats in Addis he has proved to be the unique entrepreneur with his investments in Banking, Hotels, Agriculture and Automotive. With his Automotive company starting assembly of Hyundai cars and Vans this year and his successful investment in Resorts expecting inauguration of three more new Hotels in Adama, Arbaminch and Addis Ababa Haile is number one business man to watch.
2. Zemedeneh Negatu: Some call him ambassador for Ethiopian Vibrant Economy but he is more than optimistic, pragmatic and proud spokes man for Ethiopian Economy. He is the man behind bringing successful foreign direct investments to Ethiopia. As CEO for Fair Fax Africa Fund he has come up with grand game changing billions dollar oil refinery project to be launched this year which has brought all eyes to him.

 

3. Tesdeske Yilma: The founder and CEO of Flintstone homes Tesdeke is a dynamic entrepreneur to watch this year. With chronic house shortages in Addis where millions registered applicant waiting for government built condominiums and many of real estate companies focused on luxury villas, he has seen the market gaps to build a successful model for housing middle class. The aggressive apartment constructions in different location of Addis going successfully, 2018 will be the year to his company to deliver keys to happy house buyers.

 

4. Bethlehem Tilahun:  Bete has many reasons to smile, she has been selected as a winner of African female leader of the year 2017 and many prestige awards worldwide. As a flag carrier Ethiopian women young entrepreneur her shoe brand sole rebels has beat markets in Europe, America and Asia. Her new venture on roasting coffee business is blooming in Addis and here is the year to see how the queen will bring up her brands to great heights.

 

5. Akiko Seyoum: Akikio is the CEO of the giant construction company with big government projects in construction and road. The Iron lady which does not like much media attention has entered to a pioneering new joint partnership with Enel Green Group in Ethiopia’s first Solar Power plant. With 500 million Dollar investment to develop the 100MW power it will be awesome to watch her projects rolling to construction phase this year.

 

6. Biruke Tekeste: The sporadic discontinuity of internet in Ethiopia has not stopped this company from succeeding in Ethiopian online content marketing. With more than 950 Ethiopian music video uploads , 350 thousand subscribers and   357 million views Biruk has now posted as the number you tube channel in east Africa. His company Hope Entertainment Hope is an entertainment production house focusing on Ethiopian music and film. The production house produces and promotes quality music as well as organizes concerts to enable up and coming Ethiopian artists to take their career to the next level.

 

7. Tseday Asrat: Tseday is the founder and managing director of Ethiopia’s best coffee shop chain. Emulating  Starbucks  success in west she has grown her business opening more than 35 outlets throughout Addis Ababa.  Diversifying her business in agro industry and Gusto restaurant chains coming, she is unstoppable to conquer all regional cities with her dynamic business model this year.

Ethiopian-American Startup Stackshare Raises 5.2 Million in Venture Capital

Source: Ethiopian-American Startup Stackshare Raises 5.2 Million in Venture Capital

Lesson to be Learnt from Ethiopia Airlines — THISDAYLIVE

What was cardinally important about the successful conduct of C-check on Boeing B737 Classic by Aero Contractors was the fact that the maintenance exercise was delivered by largely indigenous personnel. It has been over 30 years such feat was achieved in Nigeria. But in Ethiopia, Ethiopia Airlines for several years has been conducting such high […]

via Lesson to be Learnt from Ethiopia Airlines — THISDAYLIVE

Meet The 3 Ethiopian Entrepreneur of The Year Award Recipients — Addis Insight

Three Ethiopian entrepreneurs, a young woman, and man as well as a seasoned entrepreneur received the Entrepreneur of the Year Award on Thursday 16 November 2017 as Ethiopia joins this year’s Global Entrepreneurship Week (GEW) celebrations under the theme ‘Entrepreneurship Creates Jobs’ by rolling out a series of events nationwide targeting over 150 thousand people across the country. This…

via Meet The 3 Ethiopian Entrepreneur of The Year Award Recipients — Addis Insight

The First “Lions Den by blueMoon” Held at Addis Garage — Addis Insight

The first “Lions Den by blueMoon” was held at Addis Garage on 1st September 2017 in the presence of the Guest of Honor, H.E Dr. Getahun Mekuria, Minister of Science and Technology; H.E Dr. Mebrhatu Meles, State Minister of Industry for Agro processing and Pharmaceuticals; Ato Bekalu Zeleke, President of Commercial Bank of Ethiopia; Ato…

via The First “Lions Den by blueMoon” Held at Addis Garage — Addis Insight

Venture 4Africa-Ethiopia

The VC4Africa community is a global peer-to-peer network where entrepreneurs and investors come together to build great African success stories. A growing number of ventures are active on our platform but do they make a difference? Do the companies we engage as a community add to the tax base of African economies and are they […]

via Venture Finance In Africa 2016 Released by VC4Africa — Addis Insight