Working across Ethiopia.
RENEW is establishing partnerships in five cities around Ethiopia with city partners. These cities are Adama, Addis Ababa, Dire Dawa, Hawassa and Mekele. City partners are groups that work with businesses in their cities. They can be NGOs, business associations (like chambers), banks, and private firms. They should have a large network of business relationships.
RENEW offers to work with city partners so that they understand private equity and are better equipped to support local companies as they seek to attract financing, both from foreign and local investors. Successful city partners will become recognized in their communities for their ability to help companies prepare for and attract financing and, as a result, increase employment and provide other benefits to their local communities. We anticipate that certain city partners will be able to generate revenue for themselves because they have this capacity and can offer to help companies in their communities prepare for and attract private equity and other financing. This MOU outlines the training and support RENEW offers to the city partner to help them obtain this capacity. In return, the city partner commits to complete the trainings RENEW provides and actively work with RENEW to identify and support excellent companies as they seek to attract financing.
RENEW will act as a coach to the City Partner. In this role, RENEW will:
- Provide one training to the City Partner on private equity investing.
- Hold regular coaching calls with the City Partner to help them learn more about private equity.
- Provide the City Partner with tools to help companies they work with increase the likelihood of attracting an equity investor.
- Invite the City Partners to special events being held by RENEW in their respective city and in Addis Ababa.
The City Partner will act as an advocate and city-level partner with the project. In this role, the City Partner will:
- Attend trainings and ensure they fully understand RENEW’s investment criteria.
- Participate in coaching calls hosted by RENEW.
- Help advocate for the various components of RENEW’s investment program (The Investment Challenge) and ensure companies understand The Investment Challenge and private equity. The Investment Challenge will be explained during the training provided by RENEW.
- Attract companies that meet RENEW’s investment criteria to the City Investment Workshops in their respective cities and commit to helping attract 10 new companies to the training each year.
- Gather documents and information (financial and qualitative) about the companies which the City Partner recommends to The Investment Challenge.
- Follow up with companies after the training to help them prepare for future investment meetings or The Pitch.
- In some cases, provide direct business development services (BDS) to companies at RENEW’s request (such follow-on services will be detailed in a separate MOU and/or Statement of Work).
SUCCESS FOR THE PARTNERSHIP
Success for City Partners looks like the following:
- City Partners learn about private equity and can now help companies they work with attract private equity financing.
- Each City Partner brings 10 or more companies each year to the SME Financing Incubator Training.
- The City Partner introduces more than one company to RENEW and The Investment Challenge which successfully completes the City Investment Seminar, graduates to The Exchange and receives an investment.
- City Partners develop a strong business growth consulting practice that meets the expectations of international investors.
RENEW'S CITY PARTNERS
The Exchange is partnering with the following resources providers:
- Abeselom Samson Consultancy Service for Business & Investment
- Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA)
- Entrepreneurship Development Center
- Eziti Information Services PLC
- Ignite Trade and Investment Consulting
- North South Consulting
- Digital Opportunity Trust
- Enat Bank
Would you like to become a city partner?
For more information, please contact Bethlehem Bogale.