<h1 style="text-align:center;">RENEW Welcomes Tom Scriven as Partner</h1><figure class="image image-style-align-left image_resized" style="width:19%;"><img src="/uploads/tom_scriven_4_f07dc2333f.jpg"></figure>We are pleased to announce that <a href="https://renewcapital.com/team/tom-scriven">Tom Scriven</a>, who has served as RENEW's consultant and legal advisor since May 2012, will join RENEW's management team as partner and chief counsel.Tom has more than a decade of experience in project and organizational management and has held numerous leadership positions in private sector and community service organizations. As a lawyer, he has advised prominent private equity clients, Global 500 companies and non-profit organizations. He is admitted to the bar in the District of Columbia, Colorado and New York.Please join RENEW in welcoming Tom Scriven to the executive team.<a href="https://renewcapital.com/sites/default/files/renew_press_release_-_scriven__0.pdf">Read the full the press release</a>, contact us at <a href="mailto:renew@renewcapital.com">renew@renewcapital.com</a> or follow us on Twitter @RENEWLLC to find out more.

Join RENEW in welcoming Tom Scriven to the executive team

thumbnail_renew_-_logo_-_tag_-_small_19.png

xsmall_renew_-_logo_-_tag_-_small_19.png

renew_-_logo_-_tag_-_small_19.png

RENEW Welcomes Tom Scriven as Partner

<h1>Press Release: Renew Capital Angels Invest in Jamii.one, a Micro Insurance Platform</h1>Supporting solutions to expand financial inclusion across Ethiopia, Renew Capital partners with Jamii.one<a href="https://latest-api.renewcapital.com/uploads/FINAL_Jamii_One_Press_Release_e2a1650a7b.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release</a>Ethiopia, September 28, 2023&nbsp;—&nbsp;Driving towards financial inclusion for communities across Ethiopia, Renew Capital Angels has partnered with Jamii.one, a trailblazer micro-insurance platform for the African landscape.The company has begun services in Ethiopia, where there are few insurance options for rural communities and only 42% of mobile phone owners own smartphones.<figure class="image"><img src="/uploads/unnamed_96ad0f588d.jpg"></figure>Jamii.one’s growth has come from self-organized Ethiopian community groups called "Iddirs" that bring on average around 50 people together making monthly contributions for informal cooperative-like insurance for funerals and other significant life events.&nbsp;More than 30% of Ethiopians participate in Iddir groups, which often face operational difficulties due to manual data tracking and management, preventing them from fully meeting their members' financial needs. Jamii.one provides an app-based data registration tool for Iddirs and connects them to affordable, reliable insurance options. “When we entered the market it didn't take us long to introduce the Iddir community to Jamii.one. After we tailored our product for Iddir and enabled access to affordable group micro life insurance it was amazing to see the power of technology with the power of community,” says <a href="https://www.linkedin.com/in/tigist-bezu-928519158" target="_blank" rel="noopener noreferrer">Tigist Bezu</a>, co-founder.&nbsp;Importantly, the app is designed to accommodate low literacy levels, offline functionality and limited smartphone usage, making it accessible to a wider segment of the population. This initiative aims to enhance financial inclusions across Ethiopia and beyond.

Supporting solutions to expand financial inclusion across Ethiopia, Renew Capital partners with Jamii.one

unnamed.jpg

Press Release: Renew Capital Angels Invest in Jamii.one, a Micro Insurance Platform

<h1 style="margin-left:0px;">Press Release: Renew Capital Angels Invest in Kenyan Fintech FlexPay</h1>FlexPay is reshaping the financial services landscape in Africa with its flexible and affordable payment alternatives<a href="https://latest-api.renewcapital.com/uploads/FINAL_Flex_Pay_Press_Release_c41e2406d2.pdf " target="_blank" rel="noopener noreferrer">Download the Full Press Release&nbsp;</a>Nairobi, Kenya, September 5, 2023 —- Renew Capital Angels have invested in an innovative Kenyan fintech,&nbsp;<a href="https://www.flexpay.co.ke/">FlexPay</a>.&nbsp;FlexPay’s"save now, buy later" platform allows customers to purchase products over time, interest-free, by setting personal savings goals. They provide customers with greater financial flexibility and purchasing power by collaborating with merchants to facilitate flexible payment options for high-value goods and services.&nbsp;<figure class="image"><img src="/uploads/Flex_Pay_e4b9cbfb07.png"></figure>“Our “save now, buy later” model represents an important evolution of “buy now, pay later”. It's an affordable, scalable, and sustainable model, particularly in Africa. We are looking forward to the future and plan to move quickly in the next three months to partner with merchants and blaze a new trail in the banking space,” said <a href="https://www.linkedin.com/in/richard-machomba-618b697a?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAABDmyjQBkhBCNptBuO2vD_RO8NeUDZ-3uSI&amp;lipi=urn%3Ali%3Apage%3Ad_flagship3_search_srp_all%3BZZ2IaXumQsSzgSvDlaN8LA%3D%3D" target="_blank" rel="noopener noreferrer">Richard Machomba</a>, CEO of FlexPay.&nbsp;FlexPay is one of the innovative financial service products that has emerged from Kenya, the home of Africa's first mobile money service, MPESA. FlexPay aims to bridge the affordability gap with practical and affordable financial services thus protecting customers from the dangers of debt."The youngest and fastest-growing populations in the world are generating massive demand for effective and affordable financial services. This is Africa’s great challenge and opportunity. FlexPay is leveraging exciting technology to power an empowering new model: “Save now, buy later,” said Matt Davis, CEO of Renew Capital.The investment aligns with Renew Capital's mission to support groundbreaking ventures across Africa.

FlexPay is reshaping the financial services landscape in Africa with its flexible and affordable payment alternatives


IMG_0279.jpeg

Press Release: Renew Capital Angels Invest in Kenyan Fintech FlexPay

<h1>NINJA Program Creating Champions for the Startup Ecosystem of Ethiopia&nbsp;</h1>Launching the NINJA Acceleration ProgramThe first industrial revolution used water and steam power to mechanize production. The second used electric power to create mass production. The third used electronics and information technology to automate production. Now, a fourth “digital” industrial revolution is underway, building on the technological advancements of the last century and characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.&nbsp;Ethiopia is no exception - as stated in the country’s most recent Ten Year Development Plan (2020/21-2029/30) published by FDRE Planning and Development Commission, “technological capability and digital economy” is one of the ten key strategic pillars that are set to help attain the development goals of Ethiopia. In support of this work, the Government of Ethiopia (GoE) has committed to “build the human resources capacity to increase the potential workforce in the innovation, technology and research subsectors”.&nbsp;<figure class="image"><img src="/uploads/2_S4_A3486_2f6e583bcb.jpg"></figure>In its current state, Ethiopia has to play catch up with the rest of the world when it comes to fully integrating the fruits of the third industrial revolution into its key economic sectors. Materializing this and fully entering into the fourth industrial revolution can likely be attained by promoting the nascent startup ecosystem that is just developing in the country’s economy, something that the GoE recognizes and supports.&nbsp;&nbsp;&nbsp;The Ethiopian Ministry of Innovation and Technology (MinT) is giving due attention to entrepreneurship and its immense potential to contribute to the growth of the economy. Working alongside the Japan International Cooperation Agency (JICA), MinT and JICA are seeking to encourage startup innovation that has the potential to solve persisting sectoral problems through the use of emerging technologies as part of the Next Innovation With Japan (NINJA) Acceleration Program.&nbsp;After the launch of the 2022 NINJA Acceleration Program in Ethiopia, the program accepted nearly 100 applications from startups all over Ethiopia in December to compete in a multi-stage and multi-month acceleration competition. The program’s three-phased selection process resulted in six trailblazing, technology startup finalists that have the potential to revitalize the country’s economy through driving sectors such as agriculture, tourism, logistics and digitalization and ICT.Following the selection of the six startups that fit the objectives of NINJA Acceleration Program, JICA and MinT, in collaboration with the implementing partner Renew Capital, will be hosting a Kickoff Conference on April 7, 2023 that will serve as the formal launch of a curated, four-month intensive training program for the six startups. The NINJA Acceleration program will lay the foundation for the selected startups to appropriately scale and build a world-class business through practical training, coaching and mentorship. It will also provide the six startups with a disbursement amount of ETB 500K and a trip to Japan for further training and networking.&nbsp;The Kickoff Conference will host a panel discussion by key stakeholders and the final business pitches of the winning six startups. This Kickoff Conference will also serve as a platform from which the finalists and their products are widely publicized to local and international stakeholders, such as enabling bodies, entrepreneurial support organizations, capital providers and potential customers.&nbsp;<a href="https://us06web.zoom.us/webinar/register/WN_Rfyt508jSRGMg1NmLbKmrA">[Please register here]&nbsp;</a>----------------------------------------1)Schuab, Klaus. World Economic Forum. 2016.&nbsp;<a href="https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/">Link</a>

2S4A3486.jpg

NINJA Program Creating Champions for the Startup Ecosystem of Ethiopia 

<h1>Press Release: Renew Capital Angels Invest in Kenyan Smartphone Recommerce Startup, Badili</h1>Badili and Renew Capital Angels partner to enhance the African recommerce experience<a href="https://latest-api.renewcapital.com/uploads/FINAL_Badili_Press_Release_9711c51e8d.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release</a>&nbsp;Nairobi, Kenya, March 7, 2023&nbsp;—&nbsp;The number of smartphone connections in sub-Saharan Africa is expected to rise to nearly 700 million by 2025 but even then the adoption rate still remains at modest levels across the continent.&nbsp;Kenya-based startup Badili is on a mission to change this and put a smartphone in the hands of every African through its recommerce platform.&nbsp;<figure class="image"><img src="/uploads/Badili_1_a1c3a51b3d.jpeg"></figure>“We are providing an alternative platform where people can buy used and refurbished smartphones safely and affordably,” says Badili’s CEO Rishabh Lawania. “Most of our devices cost less than half their original price, and all come with a 12-month warranty.”Badili was founded in 2021 by Rishabh Lawania and Keshu Dubey with the aim of providing a credible platform for buying and selling pre-owned smartphones in Kenya. Lawania saw a need for the platform after a colleague was arrested after buying a stolen phone.To safeguard buyers, Badili requires its sellers to provide ID and headshots and to sign an affidavit stating that they are the rightful owners of the devices. This system provides extra protection for buyers and helps to ensure the authenticity of the products."We are thrilled to have Renew Capital Angels as partners in our journey to create a better recommerce experience for everyone in Africa. We want to make it easy, safe and affordable for people to buy and sell pre-owned devices. This investment will help take us one step closer to achieving that goal," Lawania says.“Badili is on a mission to create a standardized and affordable parallel economy for consumer electronics across Africa,” says Esther Mwikali, Renew Capital Investment and Project Manager. “Renew Capital Angels are proud to help support this journey.”&nbsp;### &nbsp; &nbsp;

Badili and Renew Capital Angels partner to enhance the African recommerce experience

Badili 1.jpeg

Press Release: Renew Capital Angels Invest in Kenyan Smartphone Recommerce Startup, Badili

<h1>Press Release: Renew Capital Invests in BuuPass, a Kenyan Tech Transport Company</h1>Digital infrastructure will streamline long-distance transportation in East Africa<a href="https://latest-api.renewcapital.com/uploads/FINAL_Buu_Pass_Press_Release_e31c1ade91.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release</a>&nbsp;Nairobi, Kenya, 14 February 2023 - Transportation systems in sub-Saharan Africa are challenged and underfunded. More than 30 million Africans rely on inter-city transportation daily, and the domestic transport industry accounts for $40B in yearly spending. And yet, streamlined transportation systems in the region are a challenge due to lack of funds and technology for mass digitization.&nbsp;Renew Capital is helping to address this gap through its recent investment in BuuPass,&nbsp;a Kenya-based tech company with a web-based travel solution and a mission to make long-distance transport more accessible and seamless.BuuPass founders, Wyclife Omondi of Kenya and Sonia Kabra of India, met at Earlham College (Indiana, U.S.)&nbsp;in 2013. Their common interests in entrepreneurship and solving social concerns led them to co-found the college’s first entrepreneurship club and BuuPass, an idea that won them a 2016&nbsp;<a href="https://www.hultprize.org">Hult Prize</a> and the award of a $1M grant. The Hult Prize challenges young people across the globe to solve the world’s most pressing issues through social entrepreneurship.&nbsp;<figure class="image"><img src="/uploads/Whats_App_Image_2022_10_12_at_10_43_05_aa7c115a2f.jpeg"></figure> “We both had experiences with not having accessible transportation,” says Kabra, noting that mass transit was in high demand in their respective home countries but hard to plan. Before BuuPass, most bus users in East Africa had to go to a bus station to purchase their tickets, which were still being processed on pen and paper. The BuuPass platform allows them to buy tickets online in real time.&nbsp;Registered in Delaware, U.S., with subsidiaries in Kenya, Tanzania and Uganda, BuuPass’ B2C platform now processes more than 10,000 bookings per day for bus, flight and train transportation for travelers. It recently added personal and business parcel distribution through its bus network. BuuPass aims to build the digital infrastructure for transport across Africa and capture market share in Eastern, Western and Southern Africa by 2030.&nbsp;&nbsp;The deal was signed as part of a Renew Capital Angels women’s investment package aimed at making East African SMEs more gender-balanced in staffing and services. “We&nbsp;wanted to make sure that we build a company that is true to our values as well as de-risking ourselves by creating the right policies and culture,” said Kabra.“BuuPass has proven to be a pivotal company in the transport industry in East Africa,” said&nbsp;Renew Capital Investment and Project Manager for Kenya, Esther Mwikali. “Renew Capital is proud to be part of this journey with BuuPass, kicking off our Kenyan portfolio.” &nbsp;

Digital infrastructure will streamline long-distance transportation in East Africa


65af7824-b16f-42a6-94ec-e49f28ee17f0.jpeg

Press Release: Renew Capital Invests in BuuPass, a Kenyan Tech Transport Company

<h1>CFO100 Program Recruiting Elite Finance Executives</h1>Learn more about the CFO100 Program and secure your spot in the upcoming trainingThe CFO100 Program, our signature training series for finance professionals, is back and ready to accept applications! The program content has been updated and we are excited to welcome talented professionals who are ready to level up as leaders in business finance.&nbsp;Training sessions will be held every Monday beginning February 6 and run through April 10.&nbsp;&nbsp;The CFO100 Program is a 10-week, in-depth finance, accounting and cash flow management training program that builds a strong foundation in real-world business management skills. By the end of the program, participants will not only be able to prepare and analyze financial reports but also transform that information into tools for critical decision-making.&nbsp;<figure class="image"><img src="/uploads/CFO_100_f1fba1974f.png"></figure> “[A] key takeaway from today’s session is [financial] analysis is the secret weapon to really understand how a company is performing” - former CFO100 participant“I [now] understand that I need to go beyond the accounting part of the CFO work. I should go for analysis and other roles of the profession.”&nbsp; - former CFO100 participantCEOs around the world need finance professionals they can trust to help them understand and manage their company’s financials. They need professionals who understand the business; demand quality and timeliness of their team; identify risks weeks before they become problems; make course corrections to avoid cash shortages; and build budgets and set up systems to control the company’s most critical asset –&nbsp;cash.The goal of the CFO100 Program is to help build an elite class of finance executives and managers across East Africa. It was originally developed under the Accelerating Business Growth program, supported by Global Affairs Canada (GAC), to increase the credibility, quantity and quality of CFOs and finance managers in Ethiopia. The program is now being expanded regionally with GAC’s support.The program will consider candidates from a wide variety of industries and backgrounds, but all applicants must have the desire to build upon their finance, accounting and cash flow management skills and knowledge. In completing the CFO100 program, participants will be better positioned to demonstrate to current and future employers a mastery of a broad range of practical and critical financial accounting and cash flow management skills.The CFO100 curriculum covers concepts and skills that are useful at all stages of a finance career, including presentation skills. The workload is designed to be manageable as participants continue in their current roles.&nbsp;The program is entirely funded by the Government of Canada – there are no costs for participating.<a href="https://docs.google.com/forms/d/e/1FAIpQLScHxDFIl0R28q2N49u3xBbeg4Vz5BR5APKTSEjumBNcaippmQ/viewform?usp=sf_link">Apply Now</a> - Please apply and share with your networks.

Learn more about the CFO100 Program and secure your spot in the upcoming training

IMG 028 (1).jpg

Apply Now! CFO100 Program Recruiting Elite Finance Executives

<h1>Press Release: Government of Canada and Renew Capital Sign a Seven-Year Partnership to Expand the Firm’s Business Model Across Africa</h1>Announcing the Accelerating Regional Business Growth program<a href="https://latest-api.renewcapital.com/uploads/FINAL_ARBG_Press_Release_41f70716f4.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release</a>&nbsp;Over the past decade, Renew Capital has been working in partnership with the development and investment communities to design, test and scale blended finance mechanisms and innovations to grow Ethiopia’s small and medium-sized enterprises (SME) ecosystem in the areas of job creation, investment facilitation and gender equality. Now, a seven-year partnership with funding from the Government of Canada will help Renew Capital build on that success and expand this model across East Africa to support the shared priority for inclusive, sustainable economic growth across the continent.&nbsp;“Canada’s support for this project demonstrates our commitment to supporting innovative initiatives that build a more inclusive, sustainable and resilient Africa. We will continue to work with our partners to contribute to the region’s efforts to create a more prosperous Africa and a better future for its people,” said Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada.<figure class="image"><img src="/uploads/1_Y9_A3550_4eb7320cd1.jpg"></figure>The&nbsp;Accelerating Regional Business Growth&nbsp;(ARBG) program aims to promote regional economic integration, provide wrap-around technical assistance training and support, leverage private capital into the space and promote cross-cutting themes of gender equality and environmental sustainability. The program uses both a bottom-up approach, which prioritizes investment and training to help create a cadre of gender- and environment-smart SMEs, as well as a top-down approach, which escalates SMEs’ concerns through advocacy for policy reform.&nbsp;By the end of its seven-year duration, ARBG will operate in seven cities: Addis Ababa, Ethiopia; Kigali, Rwanda; Kampala, Uganda; Nairobi, Kenya, Lusaka, Zambia; Dar es Salaam, Tanzania; and Khartoum, Sudan. In addition, ARBG seeks to create 12,000 jobs, at least 50% of which are for women; facilitate $175M CAD of private capital into SMEs; facilitate $125M CAD in regional trade; and support 150 SMEs to increase the representation of women in their workforce and leadership.&nbsp;Thousands of executives and managers will receive gender-smart training on topics including the private investment process, regional trade readiness, executive business management and finance. The goal is to support businesses throughout their journey, both as they raise funds and then as they utilize that capital to grow their companies.&nbsp;“The ultimate outcome is a growing, more resilient and gender-responsive local SME sector contributing to regional trade, decent jobs and women’s economic empowerment in Africa,” said Renew Capital Founder and CEO Matt Davis.&nbsp;With this agreement, Renew Capital will also be adding research and training around trade to its mission. It comes shortly after the signing of the African Continental Free Trade Agreement (AfCFTA).&nbsp;“We see tremendous potential to increase trade between African countries, driven by investments in small and medium-sized firms that are the bedrock of these economies,” added Renew Capital Angels Member and Director of Regional Private Sector Projects of Renew Capital Lucas Robinson. “The companies that we’re working with are investing in new technologies and hiring talent to drive growth. It’s inspiring to work alongside them.”The ARBG program will serve as a launching point for Renew Capital’s ambitious plan to expand its investment network to half of Africa’s 54 countries by 2027.&nbsp;“Africa is ripe with thriving SMEs, but entrepreneurs continue to face challenges accessing capital,” said Renew Capital Senior Investment Manager Njuguna Diana. “The ARBG program is promising as it provides a platform to help entrepreneurs navigate these challenges through the different training programs coupled with the advocacy work with stakeholders such as governments.”&nbsp;

Announcing the Accelerating Regional Business Growth program

1Y9A3550.jpg

Press Release: Government of Canada and Renew Capital Sign a Seven-Year Partnership to Expand the Firm’s Business Model Across Africa

<h1>Reflecting on 2022 and Looking Forward to an Impactful 2023</h1>Renew Capital celebrates its continued growth across Africa.Renew Capital has closed out 2022 having achieved a string of important milestones and generating a lot of momentum for growing the company and furthering its mission in the year to come. This past year, the firm celebrated its 10--year anniversary of impact investing in Africa with expansion to several new countries and investments in gender-smart business and new areas of technology, as well as a brand refresh.In the coming weeks, it will be launching a series of new partnerships, some of which are announced here below.&nbsp;<figure class="image"><img src="/uploads/10_Years_707878f4d8.png"></figure>Investing In and Building GenderSmart Companies&nbsp;Building on Renew Capital’s ongoing commitment to invest in African women, this year, the firm worked with its partnering organizations to create several toolkits to empower businesswomen to grow and participate in gender-smart small and medium enterprises (SMEs).One of the biggest examples was the publication of the&nbsp;<a href="https://sg2x.squarespace.com/entrepreneurs">SME Gender Growth (SG2X) Playbook</a>. Co-written and designed by Renew Capital and its partners USAID and the gender-lens investment empowerment organization 2X Challenge, the SG2X toolkit was created to help fund managers and SMEs operating in Africa to build gender-smart SMEs with gender-balanced executives that aim to deliver both attractive financial results and impact.The content for the toolkit was developed from two years of online gender-smart courses provided by this partnership and implemented by Renew Capital.&nbsp;&nbsp;Renew Capital and the Alliance for Green Revolution (AGRA) have also spent the last two years providing women in agribusiness with training and resources through the&nbsp;<a href="https://www.renewcapital.com/newsroom/arise-re-launches-the-last-week-of-september-2022">African Resilience and Investment Series for Women Executives (ARISE) Program</a>. ARISE was developed with the goal to help women-operated agri-businesses recover from the impact of the COVID-19 pandemic and grow their capacity for other potential business crises. The program included training in&nbsp;<a href="https://www.renewcapital.com/newsroom/speaking-up-and-stepping-up">building the self-confidence needed to meet these challenges</a>.&nbsp;Tech Package Delivers Four InvestmentsRenew Capital’s investment team spent much of 2022 training, preparing and ultimately investing in several SMEs in an East African tech package aimed at promoting food security, inclusive credit practices for unbanked populations, improved access to transportation and greater social and cultural exchange and preservation.&nbsp;Two of the Ugandan companies were direct compliments to each other. Renew Capital’s investment in&nbsp;<a href="https://www.renewcapital.com/newsroom/Quest%20Digital%20Finance%20Connects%20the%20Unbanked%20to%20Formal%20Credit%20Systems">Quest Financial’s Akellobanker</a> platform will help the unbanked—especially those in rural areas—obtain access to credit, while the digital platform&nbsp;<a href="https://www.renewcapital.com/newsroom/Press%20Release%20Inputi%20Receives%20an%20Investment%20to%20Grow%20Smart%20Technology%20for%20Food%20Security">Inputi</a> will help farmers decide what inputs to buy for their crops and when and where to purchase them at agrishops in their area.&nbsp;Also contributing to more reliable and productive lives in Uganda is&nbsp;<a href="https://www.renewcapital.com/newsroom/Press%20Release%20Easy%20Matatu%20Expands%20its%20Ridesharing%20Minibus%20Services%20in%20Uganda">Easy Matatu</a>, a minibus ride sharing app that has been especially popular among women who often carry the double load of handling more familial responsibilities and chores at home while also working an outside job. Unlike regular public minibuses, Easy Matatu can digitally track passengers in the company’s updated vehicles, and drivers are trained in finding the fastest and safest routes throughout Kampala.&nbsp;The Renew Capital Brand Refresh&nbsp;Finally, Renew Capital spent much of 2022 working on a massive&nbsp;<a href="https://www.renewcapital.com/newsroom/RENEW%20LLC%20Becomes%20Renew%20Capital">brand refresh</a> to the overall look and feel of the website and related company resources. It culminated in September 2022 with the rebranding of RENEW to Renew Capital, as well as bolder, brighter aesthetics and a forward-facing arrow logo for its branded collateral, all reinforcing the firm’s increased momentum in expanding across Africa.&nbsp;&nbsp;Moving Forward 2023Throughout its 10 years invested in Africa, Renew Capital has remained committed to growing the SME ecosystem of Ethiopia, the country where it first began on-the-ground operations.&nbsp;Starting in January, Renew Capital will serve as the implementer of the Government of Japan’s&nbsp;<a href="https://www.renewcapital.com/newsroom/JICA%20and%20MinT%20Invite%20Ethiopian%20Innovators%20to%20Apply%20for%20a%20Chance%20to%20Participate%20in%20an%20Acceleration%20Program%20and%20Pitch%20Competition">Next Innovation with Japan (NINJA) Acceleration Program in Ethiopia</a>. Run in collaboration with the Japan International Cooperation Agency (JICA) and Ethiopia’s Ministry of Technology (MinT), this program will offer pitch session advice to 30 small Ethiopian businesses and training to MinT, then, after a process of elimination, six startups will be chosen to participate in a four-month accelerator program which will be documented in text, photos and video to showcase some of the nation’s best and brightest entrepreneurial talent and serve as a blueprint for acceleration programs elsewhere.&nbsp;This past year was one of many exciting ones for Renew Capital. Learn more about our ten years invested in Africa in our&nbsp;<a href="https://latest-api.renewcapital.com/uploads/Renew_Capital_2021_22_Impact_Report_b027a62dd1.pdf?fbclid=IwAR2TzBuu2dnqMlqxBC4ge0gWXkNNe3Odz8x0BlAPbs1vlHlsL5QzMcF4W3U">2021-2022 Impact Report</a>.<a href="https://www.renewcapital.com/contact">Sign up for our newsletter by hitting the SUBSCRIBE button at the bottom of the page</a> to be sure you don’t miss any of Renew Capital’s exciting announcements in the year ahead. &nbsp;

Renew Capital celebrates its continued growth across Africa

10 Years.png

Reflecting on 2022 and Looking Forward to an Impactful 2023

<h1 style="text-align:center;">Press Release: Easy Matatu Expands its Ridesharing Minibus Services in Uganda</h1>Renew Capital Angels invest in Easy Matatu's vision to disrupt Ugandan transport.<a href="https://latest-api.renewcapital.com/uploads/FINAL_Press_Release_Easy_Matatu_881ec88bbe.pdf" download="download">Download the Full Press Release</a><hr>Kampala, Uganda, October 4, 2022 – In Kampala, a bustling city of 3.6 million people, commuting can be fraught with challenges. An estimated 80% of Kampala's transportation system is matatus—local minibuses which are often dirty, overcrowded, poorly maintained and a major contributor to the city's carbon monoxide pollution. Many matatu drivers are also underpaid, lack formal training and operate congested and time-consuming routes.But Easy Matatu, a minibus ridesharing service, is leading the charge to reform such conditions with an investment from Renew Capital, an impact investment firm growing small and medium-sized businesses in Africa through its network of investors, the Renew Capital Angels. The investment will help Easy Matatu to grow its already successful end-to-end technological platform in which riders reserve a seat on a well-maintained and refurbished matatu through a smart phone app, and once aboard, their highly trained, competitively paid drivers take them on a faster, safer and more comfortable commute. Some of the matatus even come with refreshments and Wi-Fi.&nbsp;<figure class="image"><img src="/uploads/Renew_Strategies_Easy_Matatu_6_0ae6f34755.jpg"></figure>“We realized that beyond just building an app that connects people from Point A to Point B, public transportation in African cities needed to be reformed or disrupted, and technology really presented the best tool to do that,” says Easy Matatu co-founder Carl Andrew Lema.Thanks to this investment, Easy Matatu will grow its fleet of vehicles and increase its capacity to handle more than 200,000 monthly rides. Moving forward, Easy Matatu hopes to scale its platform to provide safe, clean and reliable transportation in other African cities.“Public transport in Africa is broken. Every day, 50 million commuters on the continent struggle to get to work, home or move around. We want to be part of the solution that fixes that,” Lema added.&nbsp;"Commuters in Kampala, where I live, and many cities across the region, face huge challenges simply getting to and from work. The current mobility solutions are not sufficient. The problem is even more acute for women commuters,” says Renew Capital Senior Investment Manager for Uganda, Diana Njuguna. “Easy Matatu is not only revolutionizing the transport sector by making it safer for commuters, but also by using data and analytics to create optimized routes that increase efficiency. In addition, Easy Matatu offers a properly serviced fleet, cutting down on emissions and pollution. It's a great company for these many reasons, and for the fact that it’s playing a pivotal role in driving infrastructure development. We're proud to add them to our expanding Uganda portfolio."For more information on Renew Capital visit&nbsp;<a href="http://www.renewcapital.com/">www.renewcapital.com</a>.About Renew CapitalRenew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. With a presence in Ethiopia, Rwanda and Uganda, 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. Since the establishment of the network in 2012, the Angels have been actively investing in the region, mobilizing millions of dollars into Africa's middle market.

Renew Capital Angels invest in Easy Matatu's vision to disrupt Ugandan transport.