Spotlight Ethio Digital Magazine: Issue 3 : simplebooklet.com

INSIDE CONTENTS 02 VOLUME1 ISSUE 3 pg 03 KUBIK TURNING PLASTIC WASTE INTO BUILDINGS pg 09 AKLILL CULTURE AND SUSTAINABILITY Chosen as Ethiopia s official runway carpet this startup is a brilliant fusion of culture and environmental consciousness How one start up is solving one of Africa s biggest social and environmental problems pg 04 ETHIOPIA S FIRST STOCK EXCHANGE What to expect from Ethiopia s highly anticipated stock exchange pg 05 HOTEL PICKS pg 10 180 BILLION INTERNET ECONOMY Deep dive into the growth of Africa s internet economy pg 11 ETHIOPIA S CLEAN ENERGY POTENTIAL Ethiopia is on course to become a leader in clean energy in Africa with 71 future projects pg 12 pg 13 BUSINESS LEADERS Our selection of Top 5 Leaders and the results they produced within their business ventures FEATURE STORY SOLOMON KASSA pg 15 AROUND AFRICA A selection of four trailblazers across the African continent pg 16 EVENTS TO WATCH pg 17 ACHIEVERS Our selection of Top 5 Achiever s in their respective fields pg 18 DIAMOND CLASS pg 20 CONTACT pg 06 WIDENING THE GATEWAY FOR FOREIGN INVESTORS See which investment areas in Ethiopia are now opening up to foreign investors pg 07 SUCCESS TOOLBOX BULLETPROOF HABITS What differentiates highachieving people from others It all comes down to good habits Start today by using these 5 proven steps pg 08 DINING PICKS SPOTLIGHTETHIO COM SPOTLIGHT ETHIO JULY 2022

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STARTUP STORY 10 03 KUBIK INC TURNING PLASTIC WASTE INTO BUILDINGS OF THE FUTURE Kubik Inc aims to remove millions of tons of plastic from the environment by turning them into low carbon affordable and durable buildings in emerging markets From schools to clinics homes to warehouses Kubik is bringing environmental dignity to how countries grow and urbanize An average Kubik product is over 40 cheaper than regular building materials At the same time they are twice as strong and over 100 times more durable plastic lasts 1 000 years The innovative company has raised over 800k in pre seed funding from investors and was recently recognized as both Africa s Startup of the Year and ESG Tech of the Year at Global Startup Awards Africa Additionally Kubik was selected as country winners for the Eastern Africa Startup Awards SPOTLIGHTETHIO COM Co founder and CEO Kidus Asfaw started Kubik with a vision to make buildings that eliminate plastic waste and reverse emissions As an engineer and development practitioner Kidus has previously led product deployments in over 40 countries in Africa Asia and Latin America and has worked for UNICEF World Bank Google Accenture He founded the company alongside his cofounder Penda Marre who s a seasoned entrepreneur in the manufacturing and construction sectors with experience running plastic upcycling factories JULY 2022

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INVESTMENT OPPORTUNITY 12 04 ETHIOPIA TO ESTABLISH ITS OWN STOCK EXCHANGE Ethiopia is in the process of building the first fullfledged capital market in the country where equities bonds financial derivatives real estate investment trusts currency exchange contracts and other products will be traded It was announced that least 50 companies including banks and insurance companies are expected to list when the exchange is launched within two years Having Africa s second highest population and being one of the world s fastest growing economies the establishment of Ethiopia s capital market poses a great opportunity It is expected to offer financing options for small and medium size enterprises and connect untapped investors to the desired investment opportunities Furthermore the exchange will also offer a platform for the privatization of Ethiopia s state owned enterprises The Capital Markets Proclamation enacted in June 2021 outlined the legal and regulatory framework for the highly anticipated Ethiopian Securities Exchange In order to fully operationalize the Proclamation ongoing actions are being taken to put in place the necessary institutions policies legal instruments and market infrastructure A capital market can be used as an alternative financial source for the government and private sector while easing dependency on foreign finance SPOTLIGHTETHIO COM JULY 2022

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ECONOMIC UPDATE 06 ETHIOPIA OPENING UP INVESTMENT AREAS TO FOREIGNERS As part of its massive investment reforms Ethiopia has opened certain segments of the economy to foreign investors in efforts to boost economic development and sustainability Ethiopia adopted a new investment proclamation and regulation in 2020 to increase inward investment and address some of the administrative challenges facing investors on the ground With Michu users can apply for loans and receive a decision based on credit scoring logic The loan application process from eligibility and verification to analysis scoring and loan disbursement is completed within a few minutes All sectors are open for foreign investment except for 32 sectors exclusively reserved for domestic investors 5 sectors reserved for joint investment with the government and 7 sectors for a joint venture with domestic investors subject to a 49 cap on the share of foreign ownership Also the Investment Proclamation made a dynamic shift in the term domestic investor by abolishing the distinction between Ethiopian nationals and foreign nationals of Ethiopian origin SPOTLIGHTETHIO COM JULY 2022

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SELF DEVELOPMENT TOOLS 08 07 TH ULTIMATE GUIDE TO BUILDING GOOD HABITS In every football league the goal of each team is to win the championship and bring home the trophy However only one team is bound to succeed and become the champion What makes the winning team different from the others The best answer for that is their habits and the kind of systematic practice they have every day What are Habits So what are habits According to the book Atomic Habits by James Clear Habits are the small decisions you make and actions you perform every day These actions and thoughts over time become the building blocks of your personality and beliefs How to Effectively Build Good Habits Let s dive deeper into how you will start building good habits that will stick with you for a long time You ll be surprised how doable it can be 1 Start Small The first key is to start small Pick the simplest possible habit you want to achieve If you re going to start a book reading routine begin with reading one page daily The last thing you want here is to overwhelm yourself with too much load that you ll end up quitting SPOTLIGHTETHIO COM 2 Increase Gradually As your desire and willpower increase consider increasing the load gradually In fact according to James Clear you can improve as little as 1 every day That may sound absurd but compounded that s 37 times better by the end of the year Repeat this principle and you ll see how high you ll have leaped towards your goal in the long run 3 Chunk it Down If the load suddenly becomes overwhelming chunk it down to small activities that seem reasonable to accomplish If you plan to read 10 pages daily try breaking it into two sessions of 5 pages The idea is to make things manageable on your end 4 Track Consistently Track your growth every now and then Celebrate your wins and try to plan out how to get back from those missed habits At the end of the day you must be in control of the desired habits you re building 5 Stick with your Plan Stick with whatever you have planned from the beginning until the end There might be hindrances that could make you lose track along the way but be patient with yourself persevere and embrace the process Start Building Now Forming good habits might be overwhelming and frustrating when you re starting However if you try to follow and be consistent with these 5 steps rest assured your best days are about to come Start building your desired habits and be the best individual you can be JULY 2022

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DINING PICKS DINING ENTERTAINMENT 08 Five Loaves Effoi Pizza Adwa Bridge Addis Ababa Ethiopia Ayat Addis Ababa Ethiopia A family run upscale deli restaurant Five Loaves specializes in everything from simple salads to gourmet dishes and mouth watering pastries all baked fresh in house every day Effoi has been serving authentic pizza made using 99 local ingredients Since launching in 2007 they have opened several brnches around the city and also serves sandwich salad and fresh soups daily Tiru Kitfo Cultural Restaurant Bole behind Sheger building Addis Ababa Ethiopia Tiru Kitfo is a unique restaurant that offers exceptional Ethiopian cuisine with special kitfo served in a warm atmosphere where the emphasis is on comfort taste and above all relaxation and enjoyment The Oriental Hyatt Regency Meskel Square Addis Ababa Ethiopia A contemporary restaurant where western BBQ meets the finest of Asian cuisine With their BBQ grilled prime meats and Asian bites guests can experience our culinary expertise in the two cuisine cultures

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STARTUP STORY 04 09 AKLILL BLENDING CULTURE AND SUSTAINABILITY Founded by Yididiya Damtew Aklill is an inspiring accessory company that produces various home textiles made from renewable materials As the first brand in Ethiopia to introduce customary bamboo textile it aims to create consciousness about environmental issues and inspire people to take action while celebrating Ethiopian heritage The trailblazing company was born through the integration of Yididiya s business background from her MBA education and her lifelong passion for creativity and artistic expression Aklill is determined to shift perspectives and set the trend by carefully designing every product to tell a story to mark its existence in time In 2021 Aklill made history with it s Adey runway carpet pictured on the right which was chosen to be Ethiopia s official runway to welcome guests and foreign leaders replacing the traditional red carpet Their product line also includes blankets cushion woven rugs and socks by their sister company Sheba Socks Furthermore Aklill is exploring the potential to create more local employment opportunities along the entire bamboo production chain SPOTLIGHTETHIO COM JULY 2022

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ECONOMIC UPDATE 10 AFRICA S 180 BILLION INTERNET ECONOMY ON THE RISE Africa s Internet economy has the potential to reach 180 billion by 2025 accounting for 5 2 of the continent s gross domestic product GDP By 2050 the projected potential contribution could reach 712 billion or 8 5 of the continent s GDP according to a joint report by IFC and Google With Michu users can apply for loans and receive a decision based on credit scoring logic The loan application process from eligibility and verification to analysis scoring and loan disbursement is completed within a few minutes Driving this growth is a combination of increased access to faster and better quality Internet connectivity a rapidly expanding urban population a growing tech talent pool a vibrant startup ecosystem and Africa s commitment to creating the world s largest single market under the African Continental Free Trade Area A variety of sectors including fintech eCommerce health tech media and entertainment local transportation food delivery and business to business B2B eLogistics are leading the way in Africa s digital transformation SPOTLIGHTETHIO COM JULY 2022

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INVESTMENT OPPORTUNITY 11 07 AFRICA S EMERGING CLEAN ENERGY LEADER Ethiopia is on course to become a leader in clean energy in Africa with a goal to build 71 power projects over the next 10 years Of the power projects planned 16 are hydro power 24 wind 17 steam and 14 are solar making the model arguably one of the world s biggest policy shifts towards clean energy and potentially building Ethiopia into a leader in clean energy in Africa At the same time Ethiopia will bolster its electricity generating capacity from the current 4 200 MW to around 35 000 MW by 2037 electricity to the 48 9 of its population without access World Bank 2020 With increased power generating capacity Ethiopia also expects to sell electricity to Kenya and establish grid links to South Sudan Uganda Rwanda Tanzania and Yemen across the Red Sea The country is inching closer to fully operating its Grand Ethiopian Renaissance Dam GERD which at over 5 000 MW will be the largest hydroelectric power plant in Africa as well as the 8th largest in the world Once fully operational the GERD is expected to double Ethiopia s electricity output serving as an engine for industrialization and economic development by bringing much needed SPOTLIGHTETHIO COM JULY 2022

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TOP LEADERS ZAAF COLLECTION 12 TOP LEADERS ABAI SCHULZE Move with good data but by all means move and move quickly As I always say execution is the stuff of success passion is just one of the ingredients Abai Schulze is the founder of ZAAF an artisanal brand that produces high end leather goods using local talent and resources in Ethiopia and throughout Africa ZAAF has been recognized globally from the runways at New York Fashion week to being featured in Vogue Elle CNN and Forbes as well as receiving the UNESCO Tremplin Prize for Entrepreneurship MOTOWN RECORDS ETHIOPIA HABTEMARIAM It s important if you want to scale your business and if you want to grow to have a diverse group of employees who can speak to the people you want to touch Ethiopia Habtemariam is the Chairwoman and CEO of Motown Records and is one of the highest ranking black women at a major record label Having started her music career as an unpaid intern at 14 Ethiopia worked up the ranks in music publishing at Universal before becoming Motown s president in 2014 where she ushered in a renaissance for the historic record label and advanced it as home of some of today s biggest hitmakers CACTUS ETHIOPIA YASSER BAGERSH Follow your passion and create something which is also meaningful to the community Yasser Bagersh transformed the advertising industry in Ethiopia over the last 20 years as the CEO of the largest communication agency network in the country Cactus Communication Omnimedia Prologue and Way Marketing with offices in 11 cities around Ethiopia He also runs one of the biggest catering companies in Ethiopia which produces over 10 000 meals a day for the employees of major corporations around the country iCOG ACC BETELHEM DESSIE The biggest thing we have in Africa is a young generation So if we train the young generation in tech we ll be able to build something that is everlasting A self taught coder Betelhem Dessie is already a pioneer in Ethiopia s emerging tech scene Coding since she was 10 Betelhem has copyrighted six software programs Now she is leading the charge to make sure young people have the training and skills they need to work in the industry On a mission to empower Ethiopia s youth through tech Betelhem created Anyone Can Code iCog ACC a subsidiary of iCog that teaches 8 18 year olds the basics of coding and robotics 251 COMMUNICATIONS ADDIS ALEMAYEHOU Addis Alemayehou has become a household name in Africa s entrepreneurship landscape with Ethiopia as the genesis of his successful business career The serial entrepreneur and investor is the founder and CEO of 251 Communications one of the leading PR and communications firms in Ethiopia He is also behind other wellknown ventures such as Kazana Group Afro FM Kana TV and others Ethiopia is the number one place in the world where it s full of opportunities Whatever the world has already gone through we are just about to go through it SPOTLIGHTETHIO COM JULY 2022

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An Exclusive Interview with Spotlight Ethio 13 SOLOMON KASSA Driving a New Age of Technology in Ethiopia As the world hastily shifts to digitization more countries worldwide are eager to catch up with the demand for technology in various spaces Whether in the financial sector manufacturing education healthcare public services or agriculture it s undeniable that digitization is a primary consideration especially among emerging markets Positioning Ethiopia on a local continental and global stage heavily relies on its ability to adopt to new trends and leapfrog using the latest innovations says Solomon Kassa in an exclusive interview with Spotlight Ethio As one of the most recognizable figures at the forefront of Ethiopia s digital transformation Solomon is an important voice for technology and science in the country and among the diaspora By profession he is a tech consultant at a Fortune 500 global firm in addition to being a public speaker book author strategist TV personality and founder of 1888EC a unique tech startup studio and an innovation co working hub in Addis Ababa Ethiopia Needless to say he is also a thinker creator and dreamer Notorious for his enthusiastic and captivating discourse it s not hard to see that his drive is fueled by a sincere passion for tech and its applications to better society SPOTLIGHTETHIO COM Solomon being the influential tech leader he is today said that he grew up as a normal child but always had a craving to learn new things He had a natural curiosity and fascination with how things work which carried over into his adult life and shaped his professional ambitions However a major turning point for him he says was when he moved to the United States to pursue an education It was then when Solomon had the opportunity to fulfill his curiosity in STEM fields and finally apply what he learned in a supportive tech ecosystem Today his passion for sci tech is still deeply etched in his life one of the many examples of that is the founding of 1888EC JULY 2022

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FEATURE STORY 14 Empowering the Next Generation of Tech Entrepreneurs Ethiopia and Africa at large cannot afford to miss the fourth industrial revolution Despite founding 1888EC in 2020 Solomon revealed that this concept lived in his mind for many years Solomon has been producing and hosting TechTalk With Solomon weekly show for 10 years and also published of the first of its kind science and tech book in Amharic After seeing the massive impact his ventures have had on millions of people ranging from government decision makers to young students to seasoned entrepreneurs he had his heart set on creating a platform that would directly support Ethiopia s nascent tech space on the ground Hence 1888EC was born but not without a mountain of obstacles to get it started a story for another day Given his US experience working as a tech consultant for Deloitte a Fortune 500 firm Solomon hopes to bring back lessons and best practices to support Ethiopia s burgeoning tech scene While abroad he also witnessed how powerful the tech startup space can be when it s empowered With 1888EC as the vessel Solomon aims to foster an environment that properly nurtures and facilitates tech entrepreneurship in Ethiopia An overlooked but critical component of this he says will be changing the public s perception of what innovative tech startups can offer the nation We have a late comer advantage It gives us the ability to leapfrog and harness the latest and cutting edge technological tools available today to solve our most critical issues But we have to quickly and urgently adopt these tools Opportunities Challenges and Priorities for Ethiopia s Digital Transformation As a passionate advocate for the application of technology and innovation in the country Solomon s efforts truly embody 1888EC s tagline victory reimagined He highlighted that there is currently a window of opportunity that must be harnessed in order to triumph over the nation s pressing social and economic problems Ethiopia and Africa at large cannot afford to miss the fourth industrial revolution Looking at the gradual evolution of the West Solomon doesn t think Ethiopia will go through that same slow process nor has the luxury to do so We have a latecomer advantage It gives us the ability to leapfrog and harness the latest and cutting edge technological tools available today to solve our most critical issues But we have to quickly and urgently adopt these tools However Solomon recognizes that there are a range of challenges in implementing tech driven solutions in the SPOTLIGHTETHIO COM country such as inadequate access to the latest technologies lack of sophisticated telecom and power infrastructure hostile and passive policy making low tech literacy as well as cultural and socioeconomic factors He believes that it s imperative for Ethiopia to face these challenges with clear policy reform specific plans and objectives public private partnerships and global cooperation Just as importantly it requires a paradigm shift and mindset change among the people Acknowledging the government s recent efforts Solomon commends the bold moves to privatize Ethio Telecom and open up the financial sector to foreigners Plus with the completion of the Great Ethiopian Renaissance Dam GERD an abundance of access to electricity will be expected which is critical to mass adoption of a tech based economy While recent government reforms are encouraging Solomon states there is more urgent work to be done in order to narrow the digital divide improve public welfare create jobs and ultimately bring forth a better quality of life to citizens JULY 2022

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We all have the same 24 hours a day and every hour requires us to be intentional FEATURE STORY 15 The Most Valuable Asset We Have Aside from being a founder tech strategist TV personality public speaker pro bono advisor to public servants and author with his second book in the works Solomon is also a proud father This is perhaps his favorite among all the hats he wears as he loves spending his time with his daughter When asked how he manages to balance different roles simultaneously Solomon leaves a remarkable yet relatable answer He stated that wearing various hats has never been easy It took him years to process everything and become skillful at it Just like many entrepreneurs juggling priorities there have been a number of times when things even major priorities fell through the crack because of an overwhelming schedule But he says it all boils down to discipline and time management We all have the same 24 hours a day and every hour requires us to be intentional Pro Tip using tools such as mobile apps that keep track of tasks and reminders have helped him stay on course and manage deadlines Punctuality is very important to me It s a reflection of my respect for each and every minute I have because the most valuable asset I have is time In addition Solomon also highlighted that taking care of oneself is essential Even with his hectic schedule he makes it mandatory to schedule in time to rest relax and do things that he loves like traveling and exercising The key is to do the things that clear your mind and re energize you for the work that lies ahead When asked about the qualities that have helped him become the leader he is today he notes there are many but narrows it down to three fundamental abilities First is being observant and making critical connections Second is maintaining a constant sense of child like curiosity no matter how much you ve mastered something And third is embracing a collaborative mindset as you ll go further in a team than by yourself My heart s desire is to inspire empower and instill good values in the youth so that they can better their lives and fulfill their potential if I can impact them in some way big or small that would be my greatest joy and accomplishment Advice for Young Entrepreneurs The first rule of thumb as an entrepreneur is to embrace failure despite societal pressures Every startup or business is guaranteed to experience loss at some point there s no shame in it The only person who doesn t fail is the one who is not taking action He also added to never give up on your pursuit especially if it s never been done before No matter how many setbacks you face be resilient consistent and look for ways to learn To fully make your vision a reality Solomon advises against being individualistic and secretive about your ideas Rather build a support system by sharing ideas and seeking advice mentorship and resources from others the power of collaboration is often underestimated He ended his remarks by reflecting on the impact he hopes to have on Ethiopia s youth My heart s desire is to inspire empower and instill good values in the youth so that they can better their lives and fulfill their potential if I can impact them in some way big or small that would be my greatest joy and accomplishment For more interviews go to www SpotlightEthio com SPOTLIGHTETHIO COM JULY 2022

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AROUND AFRICA AROUND AFRICA 16 Franck Verzef Franck is a Cameroonian pharmacist and founder of TrueSpec Africa a health tech company that uses AI to identify medicinal counterfeits in less than 20 seconds He is also a member of both the UN S International Telecommunication Union and the World Health Organization s Artificial Intelligence for Health Fara Ashiru Jituboh Fara is the co founder and CEO CTO of Okra an open finance platform that enables developers and businesses in Africa build personalized digital services and fintech products for customers The startup has big plans ahead after closing an impressive 4 5M in seed venture capital from top tier global investors Charlot Magayi Charlot is the founder and CEO of Mukuru Clean Stoves a social enterprise that produces clean affordable and reliable cook stoves targeting under served markets With over 350 000 lives impacted Charlot been globally recognized and awarded for her fight against household air pollution and global poverty and her work to empower marginalized women in Kenya Velani Mboweni Velani is the co founder and CEO of LULA Loop a venturebacked mobility startup that connects company commuters to private shuttles to enable sustainable and productive commuting in South Africa Since its inception in 2016 Velani has grown the company six times in the past year and quietly raised millions of dollars during the global pandemic from world leading institutional investors

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BOARDWALK AVE 17 BOARDWALK EVE Africa Asia Youth Forum O YES Global Foundation is organizing the first edition of the Africa Asia Youth Forum AAYF 2022 under the theme of Boosting Youth Roles in Ensuring a Sustainable Africa Asia Partnership It aims to provide an intercontinental platform for youth to share ideas skills knowledge and experiences on Entrepreneurship Leadership Youth in Agriculture Peace and other various related issues that are of their respective concern and the continents AAYF will be held from July 28 30 2022 in Addis Ababa in collaboration with government of Ethiopia Blockchain Summer Teens 2022 BootCamp For Open Call for African Digital Entrepreneurs Hosted in Addis Ababa from August 1 to 5 2022 the bootcamp aims to introduce teenagers 13 19 years old in Africa to blockchain technology and its real world applications Teens will be equipped with critical technology innovation and business skills that organizations are looking for and to understand how to facilitate impact in the global community through experts with years of accumulated experience Digital Square One has an open call for an Expression of Interest EOI for innovative African start ups small and medium sized businesses forprofit and non profit organizations and individual social entrepreneurs Applicants should be interested in applying and expanding their software content and or services to the health sector Apply on the Habitation for Empowerment Network website by August 12 2022 to be considered Startup Accelerator Program Icog ACC YMVA Ethiopia and MeSY Ethiopia is presenting an accelerator program for youth owner led startups working on sexual reproductive health Apply before August 15 2022 and visit their website for more imformation SPOTLIGHTETHIO COM JULY 2022

Spotlight Ethio Digital Magazine: Issue 3

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