Spotlight Ethio Magazine Issue 9 : simplebooklet.com

SPOTLIGHTETHIO.COMVOLUME1 ISSUE 9CONTENTSWEVENUTURE:ETIHOPIA’S FIRST VC-BACKED HUBpg. 03This newly established initiative will mark the first VC-backed incubator in Ethiopia.THE BILLION-DOLLAR FUND FOR AFRICAN STARTUPSFind out which countries are expected to be at the forefront of the world’s top-performing economies.in 2024.pg. 04HOTEL PICKSpg. 05pg. 06AFRICAN COUNTRIES TO LEAD GLOBAL ECONOMIC GROWTHFind out which countries are expected to be at the forefront of the world’s top-performing economies.in 2024.pg. 07DINING PICKSSee how this innovative startup is helping Africans meet their financial goals.CHUMZ: BUILDING AFRICA’S SAVING AND INVESTING CULTUREpg. 08The latest trends show a strategic shift in investor focus.TRENDS IN AFRICAN STARTUP FUNDING pg. 09pg. 10THE RISE OF CLIMATE TECHFunding for climate tech startups in Africa has seen remarkable growth recently.Our selection of Top 5 Leaders and the results they produced within their business ventures.BUSINESS LEADERSpg. 12FEATURE STORY: ADDIS ALEMAYEHOUpg. 13pg. 17A selection of four trailblazers across the African continent.AROUND AFRICApg. 18EVENTS TO WATCHpg. 19ACHIEVERSOur selection of Top 5 entrepreneurs on the horizon in their respective fields.pg. 20DIAMOND CLASSpg. 21CONTACT02MARCH 2024OUTSIDE THE BOX: KIDUS ASFAWpg. 11INSIDE

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STARTUP STORYWeVenture Hub, a newly established venture-capital-backed incubator and accelerator in Ethiopia, is on a mission to nurture the entrepreneurial spirit and democratize innovation. By offering capital, networks, co-working space, and quality technical assistance, it’s set to spark significant growth. Founders Noel Daniel and Makeda Tsegaye have rallied a robust network of industry leaders, investors, and seasoned professionals to back their vision. WeVenutre will assist at least eight startups by year’s end through its comprehensive incubation and acceleration program, focusing mainly on ventures that tackle Ethiopia’s pressing challenges. WeVenture aims to equip these startups with the necessary tools to bring their innovative ideas to life.Ethiopian business leaders and investors applaud weVenture as a critical step for the nation’s rapid development. According to a JICA report, while many Ethiopian startups are in their nascent stages, only 23% progress beyond the early phases. weVenture aims to change that, promising robust support for these emerging businesses.WEVENTURE HUB:ETHIOPIA’S FIRST VC-BACKED INCUBATOR SPOTLIGHTETHIO.COM 03MARCH 2024

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GROWTH OPPORTUNITYAt the 24th Annual Meeting of the World Economic Forum in Davos, the United Nations Development Programme (UNDP) unveiled the "Timbuktoo" initiative in partnership with African nations. This ambitious project aims to establish the world's largest financing facility, bringing together catalytic and commercial capital to strengthen Africa's startup ecosystem.The Timbuktoo Africa Innovation Fund, hailed as the continent's largest-ever startup fund, will allocate $350 million in risk-tolerant capital. The initiative will provide financing for accelerators and venture builders, with investments of up to $800 million in venture firms across eight African countries in collaboration with private partners, details not previously disclosed.Timbuktoo's funds are set to boost a range of African startups with pre-seed, seed, and pre-Series A equity investments. In Morocco, they'll focus on smart cities and mobility ventures, while edtech and tourismtech take the spotlight in Senegal. The fund will concentrate on fintech in Nigeria, agritech in Ghana, and support creative industries in South Africa's Capetown. Nairobi will see an emphasis on greentech, health tech in Rwanda’s Kigali, and trade, logistics, and e-commerce in Cairo, Egypt. It also plans to collaborate with local universities to support tech ventures.Africa currently accounts for just 0.2% of the global startup value, with 89% of venture capital originating from foreign sources and 83% concentrated in four countries. Timbuktoo aims to transform Africa's knowledge-driven economy, fostering the development of pan-African enterprises and attracting both global and local investments.THE BILLION-DOLLAR FUND FOR AFRICAN STARTUPS SPOTLIGHTETHIO.COM 04MARCH 2024

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06According to the IMF, six of the top-10 fastest-growing economies are expected to emerge from Sub-Saharan Africa. Ivory Coast, leading the pack, and Tanzania, ranking third, are expected to grow at 6.6% and 6.1%, respectively, thanks to their diversified economies and success in attracting foreign investments. Despite a recent debt default, Ethiopia is predicted to see 6.2% growth, placing it second.By 2024, Sub-Saharan Africa's growth is anticipated to climb to 4%, up from 3.3% in 2023. However, South Africa and Nigeria's sluggish performances, which represent two-fifths of Africa's $2 trillion economy, could hinder the continent's overall growth. While these economic powerhouses are unlikely to deliver quicker output soon, ongoing reforms could yield future benefits. Nigeria is working to ease its foreign exchange regime and phase out fuel subsidies. Currently facing an energy crisis, South Africa is making initial steps toward enhancing its electricity supply.AFRICA DOMINATES TOP-PERFORMING ECONOMIES OF 2024 SPOTLIGHTETHIO.COMFor over two decades, China has been a key economic partner for Sub-Saharan Africa. However, the region is now grappling with a major debt build-up and a slowdown in China's growth, which may lessen demand for its commodity exports. This situation warrants a cautious economic outlook for the region in the near term.ECONOMIC UPDATE MARCH 2024

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DINING & ENTERTAINMENT07INTI — A Nikkei Experience Mahogany's RestaurantOne Africa Place, Waikiki Way, Nairobi, KenyaThe INTI experience centers around the finest Nikkei cuisine, which celebrates the marriage of Japanese & Peruvian fare complemented by the finest wines, sake, and signature cocktails.Chuma Drive, Gaborone, BotswanaThis establishment offers a sophisticated experience, complemented by a live pianist or lounge music, gourmet meals, and an international à la carte menu that caters to diverse tastes.Limuru Road, Tribe Hotel, Nairobi, KenyaStriking a balance between discovery and familiarity, Jiko Africa takes inspiration from age-old cooking methods and ingredients from across Africa in an informal social setting where the surroundings are as vibrant as the food.Jiko Africa12A Akin Olugbade St, Victoria Island, Lagos, NigeriaThis contemporary African restaurant reinvents the classics of African cooking with an innovative twist. Nestled within a lush bamboo-framed garden, NOK is an intimate dining space surrounded by modern art and design from all over the continent. NOK by AlaraDINING PICKS SPOTLIGHTETHIO.COMMARCH 2024

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STARTUP STORYWhile having secured only angel funding, the platform displays promising growth and aims to extend its transformative financial services beyond Kenya to the broader East African region later this year. The startup is led by CEO and co-founder Samuel Njuguna, who is also behind Kenyan mobile money startup Chura.Chumz is revolutionizing the savings and investing culture in Africa. It offers an easily accessible online platform that leverages behavioral psychology to guide users toward optimal saving habits aligned with their financial lifestyle. Goal-based investing, social nudges, and default bias are some ways users can kick-start and nurture their savings habits.Targeting the underserved retail investment market, the startup has gained traction with over 70,000 registered clients in less than a year. It allows users to commence saving with as little as US$0.05. The platform operates by directing funds from users' mobile money accounts to licensed fund managers, who generate returns that are distributed back to individual clients.CHUMZ:HELPING USERS MEET THEIR FINANCIAL GOALS SPOTLIGHTETHIO.COM 08MARCH 2024

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09In 2023, African startups secured a total of $2.9 billion in funding across equity, debt, and grants for deals exceeding $100k, marking a 39% year-on-year decline, according to Africa: The Big Deal. The Big Four – Kenya, Egypt, South Africa, and Nigeria – captured 71% of the total investments. Kenya led with an impressive $800 million, significantly boosted by two major deals in the energy sector. In contrast, once a dominant force, Nigeria experienced a dramatic funding decline.Kenya dominated East Africa, claiming 91% of the region’s total funding, while Egypt and South Africa led in North Africa and the Southern African region with 95% and 97%, respectively. Despite having the highest number of startups, Nigeria’s share of funding in West Africa fell to 68%, marking the lowest share among the Big Four since 2019 due to economic indicators and the absence of mega deals. Beyond the Big Four, startups outside these hubs still managed to secure 29% of the funding for ventures raising $100k or more in 2023. AFRICAN STARTUP FUNDING TRENDS SHOW A SHIFT IN INVESTOR FOCUS SPOTLIGHTETHIO.COMFintech and Energy were the top sectors, attracting $1.2 billion and $800 million, respectively, and making up 69% of the total funding. Notably, equity funding dropped by 57% to $1.7 billion, while debt grew by 47% to $1.1 billion, indicating a strategic shift among investors fueling Africa’s startup ecosystem.ECONOMIC UPDATE MARCH 2024

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THE RISE OF AFRICAN STARTUPS IN CLIMATE TECH SPOTLIGHTETHIO.COMcountries need to achieve their 2030 climate goals. To meet both mitigation and adaptation requirements, overall climate financing must increase from the current $30 billion a year to nearly $300 billion, with contributions from both private and public sectors. Yet, private sector contributions are minimal, standing at only 14% of total climate finance. Employing blended finance approaches could enhance private funding for the sector, de-risking the journey for both entrepreneurs and investors.Climate change poses significant challenges for Africa, underscoring the need for substantial investment in innovative solutions across various sectors to mitigate its effects. Fortunately, funding for climate tech startups in Africa has seen remarkable growth recently. The sector has not only increased in total investment but also its proportion of overall funding, soaring from 20% in 2019 to 60% in 2023, with more than $3.4 billion invested since 2019.Today, climate tech is the second-most funded sector in Africa, behind only fintech. In 2023, a third of all startup investment in Africa was directed towards climate tech, totaling over $1 billion. While agritech leads the early-stage investment pipeline, accounting for 40%, energy, and water startups have garnered nearly 75% of climate tech funding in 2022. Other sectors, including food waste, insurtech, waste management, and carbon credits, comprise the remaining 25% of the funding.Despite the growing investment in climate tech, the financing still needs to catch up to what African GROWTH OPPORTUNITY 10MARCH 2024

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OUTSIDE THE BOXIn a time when climate change, sustainability and social responsibility command global attention, Kubik is making significant strides in addressing some of the world's most pressing issues. Founded by Kidus Asfaw, Kubik has carved a unique niche in the market by transforming plastic waste into affordable housing solutions. In an exclusive interview with Spotlight Ethio, Kidus shares the journey of Kubik, shedding light on the company's mission, growth, and the vision that propels it forward. His dedication to forging a sustainable future through Kubik's innovative endeavors has not gone unnoticed, earning him a spot on the inaugural TIME100 Climate List and joining the ranks of the most influential figures driving business climate action.Bridging Market Gaps with Innovation"At Kubik, we believe that doing good is good business," Kidus begins, framing the ethos that drives the company. "We are a for-profit company focused on servicing the most pressing needs of society—ending plastic waste, fighting climate change, and driving affordability in housing." Their approach involves not just tackling these issues head-on but doing so through strategic partnerships with non-profits and social enterprises.At the heart of Kubik's inception was identifying two glaring market gaps: "The majority of plastics are too hard or expensive to recycle, and building a decent house is way too expensive," Kidus explains. This dual challenge propelled the creation of Kubik, driven by a vision for a world where future generations could enjoy a cleaner, more sustainable environment and the dignity of a home. "We felt that if our kids are to live in an ever-urbanizing world, this needs to change." As for the target market, Kubik focuses on real estate developers, offering them a solution to the price volatility and scarcity of traditional building materials. Thanks to Kubik's practical appeal, through a cost-effective product that enables speedier construction, Kubik has become a favored partner among developers.Scaling Up for a Sustainable FutureGrowth and scaling have been central to Kubik's journey, albeit challenging as a startup. Yet, through persistence and patience, the company has built a strong network of investors, partners, and team members that has helped make Kubik's mission a reality. Today, Kubik's facility can recycle 45,000 kg of plastic waste daily, translating into constructing 5 to 10 homes.Key to Kubik's scaling up has been a principled approach to partnerships and capital raising. Rather than seeking every opportunity, Kidus emphasizes the importance of aligning with partners and investors who share Kubik's mission. "Staying clear and honest to our mission has been very important. While finding such people takes time and is difficult, they have enabled us to grow exponentially," he notes. But for Kidus, the real joy of building the company lies in the team. "Nothing gives me more pride than the team we have built around Kubik," he shares, "I thrive on being the least knowledgeable person in a team meeting."Envisioning the Road AheadIn the coming decade, Kidus aspires to use Kubik's technology to transform the building materials industry into a lower-carbon, more affordable sector. Acknowledging the critical challenges facing humanity and the planet in the next century, Kidus hopes to leave a legacy of effort and "to be remembered for trying," highlighting the power of collective action. SPOTLIGHTETHIO.COM 11OUTSIDE THE BOXKIDUS ASFAWMARCH 2024

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12TOP LEADERSTOP LEADERSMO ABADUMo Abudu, a Nigerian media mogul, pioneered the establishment of Africa’s first Global Black Multi-Broadcast Entertainment Network ‘Ebony Life Television’. Mo is committed to reshaping the narrative of Africa and countering Afro-pessimism through her media endeavors. In recent years, Abudu has partnered with major corporations such as Netflix, Sony, AMC, and BBC Studios. Her impact has been recognized globally, including being listed as one of the World’s 100 Most Powerful Women by Forbes. “Share your recipe of success with others. Our journey is different but there may be certain things that I can learn from you and certain things that you can learn from me.”“n 30 years, literally one out of every four people on the planet will be African. This creates all sorts of challenges but within it opportunities.”DR. SANGU DELLEDr. Sangu Delle is the visionary founder of Golden Palm Investments, an influential early-stage venture and growth capital firm in Africa focusing on real estate, healthcare, agribusiness, and technology. As Executive Chairman, he has steered portfolio companies such as Andela, Flutterwave, and mPharma, helping them secure over $1.5 billion in venture financing. Additionally, Sangu is the Founder and CEO of CarePoint, a Pan-African, technology-driven healthcare group that currently serves over 1 million patients, aiming to reach 100 million Africans by 2030. BONANG MATHEBAAs one of the most influential personalities in Africa, Bonang Matheba has amassed a massive following, both locally and internationally. With a career spanning over two decades, the South African media personality has made her mark as a multi-award-winning television and radio presenter, fashion icon, businesswoman, and philanthropist. Beyond entertainment, Bonang has made her mark in the business world with the launch of her luxury beverage brand, HOUSE OF BNG, in 2019. MONICA MUSONDACorporate lawyer turned entrepreneur, Monica Musonda is the Founder and CEO of Java Foods, a leading Zambian food processing company. Her transition from a successful legal career to a visionary leader was spurred by recognizing opportunities in Zambia's wheat industry and the rising demand for convenient foods among urban youth. With a 16-year background spanning legal and corporate sectors, including roles at the IFC and Dangote Industries Limited, Monica's journey showcases her unique blend of legal expertise and strategic business acumen.KATLEGO MAPHAIKatlego Maphai, CEO and Co-founder of Yoco, has led the company to become a leader in the South African fintech industry, securing the country's largest Series C funding of $83 million and serving over 150,000 businesses with innovative payment solutions. Under his guidance, Yoco has adapted to the pandemic-driven demand for online payments, processing over $1 billion in card payments annually, and is poised for expansion across Africa and the Middle East.“As with most things in life, when you are “a first” — a first to try a new angle, a first to launch a new product, a first to break into a market — with this territory, often comes a lot of doubt.”“Be a person of integrity and professionalism. Let your contact network know who you are as a person and let them believe in your story–and then they’ll believe in your business.”EBONY LIFE TELEVISIONGOLDEN PALM INVESTMENTSHOUSE OF BNGJAVA FOODSYOCO SPOTLIGHTETHIO.COM “To make this venture work, we needed a village. Friends, family, ex-colleagues and bosses were all engaged for support.”MARCH 2024

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13Addis Alemayehou:Africa’s Serial Entrepreneur and InvestorAfrica, often referred to as the sleeping giant in the global business arena, is stirring awake, heralding a new era of opportunity and growth. With its dynamic young population, increasing digital connectivity, and vast natural resources, the continent is poised to redefine its role on the world stage, offering untapped markets and unparalleled potential for growth on all fronts. "Africa is an enticing landscape for business, where the potential for success often outweighs the challenges. But it demands resilience and strategic maneuvering to capitalize on vast opportunities," Addis Alemayehou says in an exclusive interview with Spotlight Ethio.Over the past two decades, Addis has emerged as a renowned figure in Africa's entrepreneurial scene, with Ethiopia at the genesis of his illustrious business journey. Upon his return to Ethiopia, Addis founded 251 Communications, transforming a modest three-person team into a leading public relations and communications powerhouse in the country. With extensive experience in the field, he then co-founded the Africa Communications Media Group with Mimi Kalinda as the first pan-African agency owned by Africans, tailored to handle communications for global clients within the African milieu.In addition to his communications ventures, Addis has significantly impacted the media industry by co-founding Kana TV, a leading Ethiopian television channel, and initiating the country's first all-English radio station, Afro FM. His influence also permeates the angel investing sphere, where he co-founded the Addis Ababa Angel Network and serves as a startup policy advisor to the Ethiopian government. His advisory capacity extends across local and international arenas, evidenced by his role as a Senior Advisor at the Albright Stonebridge Group and his participation on boards of prominent organizations, including the African Leadership Network, the Ethiopian-American Business Forum, and Dangote Ethiopia.As the Founder and Chairman of Kazana Group, he has strategically invested in over 16 early-stage companies, cultivating a portfolio that spans a multitude of industries and sectors. His visionary leadership and unwavering commitment to innovation have placed him on the Rest of World's 2022 list of 100 Global Tech’s Changemakers. Through his multifaceted career, Addis not only showcases his prowess as a serial entrepreneur and investor but also his commitment to nurturing a dynamic entrepreneurial ecosystem in Africa. SPOTLIGHTETHIO.COMAn Exclusive Interview with Spotlight EthioMARCH 2024

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Building a Business ConglomerateThe genesis of Addis's business empire wasn't marked by an elaborate master plan but rather unfolded through seizing a series of opportunities and a sharp eye for promising projects. This gradual approach has enabled him to venture across diverse sectors, constantly tuning his business initiatives to align with his passions and the evolving landscape of opportunities within Ethiopia and beyond. "This dynamic and adaptive strategy has led to the organic expansion of my business ventures," Addis reflects, illustrating how his openness to new opportunities has charted a path that is both unique and impactful.Within his vast array of business interests, Addis reveals that his current enthusiasm is in the franchise model, which resonates with his deep commitment to creating jobs. "Through this business approach, I see the potential to transform industries and generate meaningful employment opportunities," he explains. For Addis, franchising is more than just a strategy for profit; through its scalable nature, it acts as a vehicle for stimulating economic growth and empowering local businesses. "It's about creating a ripple effect that positively impacts communities," he adds, underscoring his ambition to spur job creation, support livelihoods, and encourage entrepreneurship on a broader scale.14FEATURE STORY SPOTLIGHTETHIO.COM“My entrepreneurial journey has been marked by a dynamic and opportunistic approach, allowing me to explore diverse sectors and seize projects that align with my vision and passion.”“Despite these challenges, the vibrant prospects, untapped markets, and the demographic dividend make Africa an enticing landscape for business, where the potential for success often outweighs the challenges.”Navigating Africa’s Dynamic MarketsIn Africa's ever-evolving economic landscape, Addis discerns both the challenges and the significant opportunities that characterize the region. "The region offers a wealth of untapped opportunities, presenting a fertile ground for entrepreneurial ventures," he points out, emphasizing the potent mix of a youthful, dynamic population and a growing economy contributing to Africa's appeal for businesses.However, the path is not without its obstacles. "The uncertainty associated with policy changes can pose hurdles, requiring adaptability," Addis observes, underscoring the importance for businesses to stay agile amidst regulatory changes. Furthermore, he acknowledges the complexity of "navigating foreign exchange challenges," a testament to the acute financial awareness required.Despite these hurdles, Addis's outlook on Africa's business landscape remains optimistic. He asserts that "the vibrant prospects, untapped markets, and the demographic dividend" position Africa as a compelling arena for businesses, arguing that the potential for success often outweighs the inherent challenges. According to Addis, Africa is "a dynamic setting that requires resilience and strategic maneuvering." Yet, the continent offers substantial rewards for those prepared to tackle its complexities.MARCH 2024

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Africa’s Next Growth Frontiers: Three Sectors to WatchAddis envisions a transformative decade for Africa, highlighting substantial growth opportunities within key economic sectors. These sectors are not merely ripe for development but are crucial for propelling Africa's economic future, each with the potential to embrace innovation and undergo expansion that could alter the continent's position on the global stage.1. Agriculture: Cultivating a New DawnAddis predicts a significant agricultural sector expansion driven by its "rich potential for innovation and sustainable practices." He advocates for adopting technology and modern farming methods to increase productivity, enhance food security, and foster economic growth.2. Hospitality: Crafting Unique ExperiencesWith the upward trend in tourism, Addis sees excellent potential for the hospitality sector, stating it is "primed for substantial growth." Investments in infrastructure and creating unique experiences can unlock the region's vast cultural and natural wealth, attracting local and global audiences alike.3. Technology: The Bedrock of Future Prosperity"The technology sector stands at the forefront of Africa's future growth," Addis asserts, highlighting the power of innovation hubs, digital transformation, and increased connectivity. This embrace of technological advancements is expected to "drive economic diversification and create opportunities across various industries," marking a new era of prosperity.A Strategy for Symbiotic Public-Private Alliances In the quest for economic development across Africa, the critical role of collaboration between the public and private sectors comes to the forefront. "A sustainable and productive partnership hinges on fostering access to finance and implementing supportive startup acts," Addis states, pinpointing the essential twin pillars for cultivating a thriving business ecosystem.This dual approach ensures that budding entrepreneurs have the necessary capital while promoting a regulatory environment that encourages innovation and growth. According to Addis, this strategy not only advances individual businesses but also contributes to the region's broader economic development, creating a "symbiotic relationship between the public and private sectors."Furthermore, Addis underscores the vital role of banking and capital market infrastructures in this economic landscape. "These financial frameworks are very important to the development of business in Africa," he asserts, highlighting their key role in supporting a range of ventures and facilitating strategic investments. Aligning this financial backbone with the continent's entrepreneurial spirit is essential for fostering innovation, sustainability, and overall economic progress.Through Addis's perspective, it becomes evident that enhancing Africa's global market position requires a combination of accessible financing, supportive policies, and a robust banking system—all geared toward empowering the entrepreneurial ecosystem.15FEATURE STORY SPOTLIGHTETHIO.COM“This collaborative approach, blending financial support with conducive regulatorypolicies, forms a robust foundation for a symbiotic relationship between the public andprivate sectors, propelling individual businesses forward and contributing to the overall economic development of the region.”MARCH 2024

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environment, including its cultural nuances, market dynamics, and regulatory frameworks." This knowledge is key to tailoring strategies to the local context and significantly boosts the likelihood of success. Lastly, he identifies persistence as a crucial quality for overcoming the region's unique challenges. Addis declares, "Staying resilient in the face of obstacles is vital for long-term success and growth," championing perseverance as essential for navigating Africa's dynamic business environment. “For young entrepreneurs venturing into business in Africa, developing specificinterpersonal skills is crucial.”“I aspire for my legacy and impact to be deeply intertwined with creating substantial jobopportunities for the youth. By promoting employment and empowering the youngergeneration, I aim to leave a lasting imprint on the socio-economic fabric, contributing tothe growth and prosperity of communities.”16FEATURE STORYwoven into the socio-economic fabric of society, aiming to empower the younger generation toward growth and prosperity. "I aspire for my legacy and impact to be deeply intertwined with creating substantial job opportunities for the youth," he states, highlighting his commitment to not just building businesses, but bolstering the entire community's well-being.The driving force behind Addis's relentless pursuit is the opportunity to meaningfully open doors and create jobs, a mission that keeps the entrepreneurial fire burning within him. "The prospect of unlocking new possibilities and making a tangible impact on livelihoods is a powerful motivator," he reflects. For Addis, this journey is not just about the success of his ventures but about igniting a passion for continuous growth and development within the broader economic and social landscape. SPOTLIGHTETHIO.COMFor more interviews go to www.SpotlightEthio.com The Skills Needed for Business in AfricaCommonly referred to as "the godfather of the Ethiopian diaspora," Addis has been a pivotal figure for over 100 diaspora members over the past two decades, facilitating their reconnection and engagement with their roots. Always ready to share his experiences and lessons openly with fellow diaspora members, he believes in developing specific skills before venturing into business in Africa. For young entrepreneurs, particularly those from the diaspora aiming to make their mark on the continent, honing particular interpersonal skills is essential.Against this backdrop, Addis provides three pillars of advice for aspiring business leaders in the region. First, he highlights, "the ability to communicate effortlessly and build networks is paramount," underlining the critical role of strong relationships in achieving business success in Africa. Furthermore, he stresses the need for "a deep understanding of the local .A Legacy for Future GenerationsAddis envisions a legacy that extends beyond the confines of traditional business metrics, focusing instead on the significant impact of creating job opportunities for the youth. His ambition is deeply MARCH 2024

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AROUND AFRICA17Ogutu Okudoa Ezana RasworkOkutu Okudo is a Kenyan entrepreneur and visionary who founded Women in Energy and Extractives to bridge the gender gap in Africa's oil, gas, mining, and alternative energy sectors. Her efforts have spanned various countries and earned her widespread recognition. Ezana Raswork, CEO and founder of Taskmoby, has created Ethiopia's first digital marketplace for home services, and aims to create 100,000 new jobs by 2025, combating unemployment and earning recognition and support from Google for Startups Black Founders Fund.Dacod Magagula is the CEO of FoondaMate, an AI study chatbot that enables students with limited internet to access quality study materials via WhatsApp. It has reached over 3 million students across 30 countries in 10 languages, with ambitions to expand its user base beyond 50 million. Dacod Magagula As the founder of Aslina Wines, Ntsiki Biyela has revolutionized South African winemaking, blending tradition and innovation to craft exceptional wines and break barriers as a Black woman in a male-dominated industry. Her dedication and impact have earned her widespread recognition.Ntsiki Biyela AROUND AFRICA SPOTLIGHTETHIO.COMMARCH 2024

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BOARDWALK EVENairobi Global Business Expo The Nairobi Global Business Expo and Conference aims to unlock youth and women's economic freedom through digital financial inclusion and transformation. To be held on April 11th, 2024, this is a must-attend gathering for business professionals, entrepreneurs, and enthusiasts. Immerse yourself in a dynamic environment buzzing with innovation, networking opportunities, and cutting-edge ideas.Leveraging ArtificiaI Intelligence for Enhanced Business PerformanceAre you a CEO, executive, or top-level leader? Join this exclusive session on AI insights and a cocktail reception designed for leaders spearheading innovation and growth within their organizations.The esteemed panel of experts will share real-world examples and practical strategies for seamlessly integrating AI into your organization's operations, driving tangible results, and maintaining a competitive edge. This event will occur on March 15th, 2024, in Lagos, Nigeria.TEMS Africa ICT Expo 2024 This two-day event in Nairobi, from April 25th to 26th, 2024, converges global industry players to showcase cutting-edge technologies and solutions in ICT. Executives and thought leaders will share knowledge, experiences, and technical interventions on emerging ICT technologies and give strategic advice on tackling today's most pressing challenges, especially in developing countries. Meet public sector executives from all over Africa for business opportunities and understanding country-by-country ICT policies.Pitch in the Sky South AfricaPitch in the Sky III arrives in Johannesburg and offers a remarkable opportunity for entrepreneurs and investors to connect, collaborate, and explore new horizons in the heart of South Africa. Mark your calendars for March 17th to 20th, 2024, as entrepreneurs and investors gather from more than 40 countries around the globe, providing an environment where ideas can flourish, partnerships can form, and dreams can be realized. 18BOARDWALK AVE SPOTLIGHTETHIO.COMMARCH 2024

Spotlight Ethio Magazine Issue 9

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