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One of our favorite things to do at RENEW is to share the accomplishments achieved by our portfolio companies with our members and the greater impact investing community. While there are several that come to mind across the portfolio, this blog will take a closer look at East Africa Emergency Services LTD (EAES) and their most noteworthy client, Tebita Ambulance and Pre-Hospital Emergency Service PLC (Tebita), the first and only private ambulance service in Ethiopia.
Members of RENEW's global Impact Angel Network (IAN) closed an investment in 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 by offering business development, procurement and administrative support. The investment seeks to help medical service companies operate more efficiently and to free them up to focus on their core functions, primarily caring for patients in crisis. In meeting this need, EAES and Tebita, together, aim to improve access to quality emergency services for thousands across East Africa. And they have been doing just that.
Looking back at 2016, the Tebita/EAES partnership has produced positive social impact in Ethiopia by not only providing critical emergency services and ultimately saving lives, but also by educating the local and global communities on the ability individuals can have, be they bystander, emergency responder or angel investor, in changing the course of emergency care in Ethiopia. Here are just a few examples:
- To date, Tebita has a fleet of eleven ambulances, has provided ambulance services to more than 40,000 clients and emergency training to more than 25,000 trainees. “Tebita” is Amharic for “drop,” a message to force every citizen to think about his or her drop of contribution to humanity. And there is no one who believes in this idea more than Tebita’s CEO and founder, Kibret Abebe Tuffa.
- In June 2016, Kibret attended Europe’s leading forum on international development - European Development Days. As a panelist, Kibret spoke on Tebita’s fight to save lives, as well as the role that social enterprises can have in furthering development goals. “Without responsible private sector involvement, tackling social problems is like clapping with one hand.”
- In October 2016, Ethiopia’s Minister of Health, Dr. Kesete Brehane Admasu, honored EAES and Tebita with the “Extraordinary Award For Dedication and Exceptional Contribution On Health And Social Service in Ethiopia” at their annual conference, and named Kibret an Ambassador of Health and Social Service. Tebita is the only private sector company to be recognized with this award.
RENEW and the IAN are proud to be part of EAES and Tebita’s amazing and impactful story, and we hope that everyone finds inspiration in the actions Kibret takes every single day to positively change and save lives of so many.
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact. For the latest on investing in Africa, subscribe and follow us at our social links below.
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