Bemnet Demissie's journey into the world of technology began with a simple observation: the inefficiency of manual processes. While still in high school and university, he actively pursued personal tech projects, driven by a passion for finding innovative solutions to everyday challenges. To this day, Bemnet maintains an unwavering focus on his objectives and delivers a world of solutions to the business world. He was Meri Podcast's guest on season 10's 11th episode, where he shared his journey as a tech entrepreneur in Ethiopia.

A Young, Tech Savvy Student

Bemnet Demissie was unlike his high school peers: he was curious, practical, and inventive. A unique talent he developed early on was the ability to physically recreate any electrical circuit he encountered in a diagram.

He grew up in Debrezeit (now Bishoftu), and his first visit to Addis Ababa was in the 10th grade when he was invited to work on a project sponsored by the United Nations Development Programme (UNDP). He was subsequently invited back the following years to participate in various projects. During the summer before 12th grade, he worked on a traffic light management system, which he presented at the National Academic Conference held in Addis Ababa. While initially criticized for using an electromechanical system instead of an electrical one, he redesigned the system with the support of his teachers, incorporating a microcontroller and infrared technology to efficiently detect traffic density. This cost-effective and efficient system earned him an award from former President Girma W/Giorgis and a Utility Model Certificate.

By the end of high school, he joined Addis Ababa University's Engineering Campus in 5 Kilo, as a student in Electrical Engineering, while simultaneously undertaking client projects. This demanding workload proved challenging, ultimately leading him to drop out of university in his third year to dedicate himself fully to his work. This decision enabled him to successfully deliver the prototype for his automated advertisement billboard, designed to rotate and display three different advertisements.

After this project, he began working as a production manager where he began to identify gaps in his department's operations. Despite having an electrical background, he taught himself to code and developed a Management Information System (MIS) database that automated and revolutionized the company's workflow. This experience ignited his entrepreneurial spirit, revealing the vast potential for automation and Enterprise Resource Planning (ERP) within the burgeoning Ethiopian business landscape.

From Seed to Scale: The Birth of CNET

In 2003, with a modest initial investment of 3000 ETB and two partners who soon departed, Bemnet embarked on his entrepreneurial venture: CNET. Fueling his efforts was an unwavering passion for research and development, rather than immediate profit. At the time, there were very few tech companies in Ethiopia to serve as role models, with Omnisoft and Powergeez being notable exceptions. Bemnet diligently collected data from business owners during the day and utilized it to code his software at night.

Early challenges were numerous. Despite submitting competitive bids, CNET initially lost two public tenders. However, a breakthrough came when Bemnet observed the long queues at Abrico Supermarket caused by the manual  generation of receipts. He proactively offered his payment interface to the supermarket free of charge, leveraging it as a powerful marketing tool. This marked the birth of the first Point of Sale (POS) system in Ethiopia, and soon, clients were lining up to install the POS system in their supermarkets, cafes, restaurants, and hotels.

Confronting Obstacles: Legal Hurdles and Government Scrutiny

CNET's success quickly drew the attention of the authorities. Despite his clients transparently completing their VAT reports, the government, unfamiliar with this new technology, deemed Bemnet's system illegal. This led to police raids, computer seizures, and even a brief period of imprisonment for Bemnet, followed by a court appearance. This challenging experience underscored the critical need for a more supportive and understanding government framework for tech entrepreneurs.

Undeterred, Bemnet immediately sought a resolution by presenting his case to the Ministry of Revenues. Through the guidance of a Serbian consultant and a compelling presentation by Bemnet himself, the Ministry of Revenues approved the use of his system, ultimately leading to a transformation of the fiscal law. While this was a significant step for Ethiopia, Bemnet acknowledges the rapid growth of a similar company in Oman, which expanded to 17 countries and achieved multinational status, and Facebook, founded just two months before CNET, which conquered the global market despite facing legal challenges.

Bemnet aptly states, "Entrepreneurs should be given a space to make mistakes and learn from them rather than die from them," highlighting the importance of adaptability and trust in public-private relationships for fostering growth.

Building an Empire: Overcoming Challenges and Fostering Growth

Despite these setbacks, CNET persevered. Recognizing the limitations of bank loans, the company relied on self-funding to fuel its growth. Now CNET boasts an aggregated capital exceeding 100 million. As a software manufacturing firm, CNET faces competition from software brokers (foreign firms operating and selling software in Ethiopia) whose primary risk lies in market penetration. In contrast, CNET bears the brunt of development costs and substantial risks, as they oversee every stage from ideation to development and deployment.

Human Capital: Cultivating Talent and Fostering Innovation

A key element of CNET's success has been its commitment to staying at the forefront of technological advancements, consistently adapting to global trends in automation and innovation, with the support of its young and dynamic workforce. CNET employs 680 permanent employees, the majority of whom are engineering graduates.

CNET prioritizes the development of its human capital. The company actively recruits and mentors interns and fresh graduates, believing they possess a deeper understanding of emerging technologies. A unique 11-step career ladder ensures employee growth and development, while a focus on training IT graduates in business principles aligns with the company's vision of bridging the gap between technology and business needs.

Bemnet recognizes the value of Addis Ababa University's BIS (Business Information Systems) degree, as it perfectly integrates business knowledge with IT skills, a highly sought-after combination at CNET. Unfortunately, the limited number of graduates from this program has not been able to meet the demand for skilled employees, considering that close to one hundred thousand businesses in Ethiopia have yet to access business automation services.

Expanding Horizons: A Multi-faceted Approach

Recognizing the limitations of internal implementation, CNET empowers former employees to become entrepreneurs. By encouraging them to establish their own firms specializing in CNET software implementation, the company fosters a thriving ecosystem of skilled partners. These partnerships, underpinned by NDAs, ensure the consistent quality and secure deployment of CNET's solutions while providing significant growth opportunities for former employees.

CNET's expansion strategy has been driven by a desire to provide comprehensive solutions to its clients. The company has established sister companies, each specializing in a specific aspect of the business ecosystem:

• IPOS: A trading company that provides hardware solutions (barcode scanners, biometric readers) to complement CNET's software. CNET's solutions are designed to interact with up to 48 types of devices.

• Ibex College: The school offers training, certification courses, and support to ensure effective utilization of CNET's solutions, as well as hospitality and tourism management training.

• Red Cloud ICT Solutions: Provides secure and reliable cloud computing infrastructure, enabling businesses to access and utilize data seamlessly. Red Cloud plays a crucial role in helping companies avoid the costs associated with setting up and running their own servers and data center infrastructures. Red Cloud's services are particularly valuable as they mitigate the risks of power outages, data corruption, and connectivity issues that are common in premise-based setups. Their cloud solution is analogous to Amazon Web Services (AWS), which hosts data for some of the world's largest tech companies, such as Netflix.

• Intelligent Open Commerce Platform: Created under Red Cloud and integrated with the ERP module of the business, it offers e-commerce solutions to local retailers and distributors, allowing businesses to expand their reach and engage with customers online. One product from the platform, Hulubeje (available on Telebirr), enables customers to select their preferred seats online, similar to the experience at a box office. Another innovation is a digital payment gateway that reduces cash handling for businesses.

The Ethiopian Business Landscape

CNET serves over 6,000 companies across 7 sectors, with varying levels of eagerness to adopt CNET's new softwares. Demonstrating a commitment to customer satisfaction, Bemnet prefers to allow his clients to test new technologies free of charge, rather than pressuring them into immediate purchases. This approach enables clients, regardless of size, to assess the suitability of the solution for their organization.

The Ethiopian tech landscape presents a vast opportunity for growth, as many business processes remain unautomated, and a significant number of companies can benefit from providing business automation solutions.

Lessons Learned from 20 years as the head of CNET

• Make the hard decisions.

• Choose a path and stay focused on it to reap the rewards.

• Seek guidance from mentors or advisors to minimize business mistakes.

• Identify your core strengths and adhere to them.

• Success is a combination of 60% hard work, 40% luck (and the guidance of a higher power).

• Regardless of the challenges and setbacks, it is crucial to persevere and never give up.

Bemnet Demissie's long journey serves as an inspiration for aspiring entrepreneurs in Ethiopia and beyond. It highlights the importance of perseverance, innovation, and a commitment to building a strong foundation of human capital.

Meri Podcast had the honor to sit down with the former top Midroc Technology Group executive, Dr. Arega Yirdaw, during the first two episodes of season 10.  

About Dr. Arega Yirdaw

Dr. Arega Yirdaw is a distinguished Ethiopian business leader and author, renowned for his nearly two decades as CEO of the Midroc Technology Group, a prominent group with 26 diverse companies. After earning an engineering degree from Addis Ababa University and working at Ethiopian Airlines, he spent 20 years in the United States, where he earned a Ph.D in Mechanical and Aeronautical Engineering. Returning to Ethiopia in 1999 at Sheik Muhamad’s request, he led Midroc's significant expansion. Now serving as the President of Unity University, he leverages his extensive experience to train emerging leaders, embodying his commitment to developing local talent and contributing to Ethiopia's growth. His book, Managing Organizational Structure: Practical Design and Application, captures his knowledge and insights, offering valuable resources to aspiring and established professionals alike. 

During his interview, Dr. Arega shared how he was able to transform Midroc from a struggling group of five companies to a thriving conglomerate of 26 companies. Managing a diversified company requires a multifaceted approach. This article examines key management techniques and principles through the lens of Dr. Arega's leadership at Midroc.

1. Strategic Portfolio Management

Dr. Arega's approach to managing Midroc's diverse portfolio of 26 companies reflects a keen understanding of balancing risk and reward. He diversified across various sectors, from manufacturing (Wanza, Albright, Elfora) to mining (Midroc Gold) and education (Unity University). His strategy involved revitalizing struggling companies like Wanza and Albright by identifying new market opportunities, such as converting Albright from lightbulb manufacturing to glass production. At the time, Albright was struggling to penetrate a market filled with cheap Asian lightbulbs and Wanza had lost its appeal. This diversification and adaptability demonstrate a portfolio approach aimed at reducing sector-specific risks and increasing local autonomy. Albright was converted into the Moha Bottling group and the Addis Gas and Plastics expanded from making plastic crates to water bottles.

His proactive approach to addressing challenges, such as navigating the 18-month shutdown of Midroc Gold due to regulatory hurdles, demonstrates effective risk management. His commitment to retaining skilled employees during this period further, despite high salary costs, protected the company's long-term viability and demonstrated his commitment to human capital.

2. Decentralized Decision-Making

While Dr. Arega maintains a hands-on approach, his management philosophy emphasizes empowering managers. As the number of companies was increasing, Dr. Arega had to review Midroc’s structure. He assigned General Managers per sector, overseen by a CEO, himself, fostering decentralized decision-making. His mantra, "Managers should manage options, not excuses," encourages initiative and problem-solving at the unit level. This structure allows for agility to market changes, and improved follow-up.

3. Resource Allocation and Capital Discipline

Dr. Arega's strategic investments demonstrate effective resource allocation. He prioritized revitalizing existing businesses, like Wanza, and strategically expanding others, such as adding a bottle cap manufacturing line to complement Albright's glass production. Further, he created a Home Depot-style store concept that would allow customers to shop simultaneously for construction materials, food items, banking services, and more, maximizing the market penetration. This long-term perspective prioritizes strategic alignment over short-term cost-cutting.

Additionally, to streamline operations across 26 companies without a formal holding company structure, Dr. Arega created a separate management company providing shared services (HR, finance, auditing, corporate social responsibility, etc.) for a fee. This innovative approach reduces redundancy and promotes consistency while allowing each business unit to maintain operational independence. It also facilitates standardized reporting and performance reviews, further enhancing efficiency.

4. Regular Performance Review and Adaptation

A structured reporting system, including weekly reports, monthly executive meetings, and annual appraisals with general managers, ensures regular performance reviews. This data-driven approach allows for continuous evaluation and adaptation. The positive competition fostered among general managers further incentivizes performance improvements and strategic alignment.

5. Talent Management and Leadership Development

Before joining Midroc, Dr. Arega had been tutoring and teaching part-time, which continued into his role as a mentor, and then as an author. He believes that future managers and leaders of Ethiopia can grow better if he shares the lessons learned from his time as a leader. This belief in continuous learning extends into his approach with his staff members. He emphasizes employee training, a positive work environment, and retention over dismissal. His focus on developing internal talent and promoting from within ensures leadership continuity and a strong organizational culture. 

6. Dr. Arega’s Personal Philosophies

Dr. Arega’s philosophies demonstrate that he is a leader with a strong sense of self and a duty to his community. To be successful, he believes that each person has to think differently and define themselves by navigating through their strengths and weaknesses to achieve personal growth and support their community. 

Finally, his leadership is supported by ethical conduct with a clear separation between personal interest and company longevity. A manager/leader should pursue a long-term strategy for his company rather than seeking short-term gains. Whether it is the strategies he’s implemented, the company culture he’s created, or his focus on creating a solutions-driven environment, Dr. Arega has created a solid structure for Midroc.

Dr. Arega's leadership at Midroc provides an engaging case study of effective management in a diversified company. His strategic approach, combined with a strong focus on people and continuous improvement, has enabled him to navigate complex challenges and build a successful and sustainable organization.

The internationally renowned and award winning Ethiopian architect Rahel Rahel was Meri Podcast’s guest on the 7th episode of season 10. She shared her thirty-plus years experience in the field of architecture and design as well as her perspectives on life.

Every highschool graduate is left with the daunting task of having to choose their university major, carving out the first paths of their career. Rahel was one of those graduates who had a love for arts and geology but was unsure about what her future in the Natural Science faculty held. One semester in, she came across a posting for Architecture entrance exams that intrigued her to the point of taking the exam. Not knowing what architecture entailed, she took the leap and discovered a passion that would lead her to a successful and international career as an architect. Rahel has since created distinctive and memorable spaces throughout Addis Ababa, shaping the city's architectural landscape.

Early Experiences and the Birth of RAAS Architects

Rahel’s first experience after graduation was a two-year volunteership at the International Evangelical Church construction project around Sarbet, Addis Ababa, Ethiopia. She found great satisfaction in seeing her hand-drawn sketches come to life, which solidified her commitment to architecture. Despite her family's concerns about the low pay, Rahel supported herself by making and selling handmade jewelry. After the church project, she and two partners opened ABBA Architects, navigating the complexities of business with limited financial and legal knowledge. After ten years at ABBA, Rahel founded RAAS Architects, now celebrating its 20th anniversary.

Motherhood and Architectural Milestones

The Genesis of RAAS Architects wasn't a straightforward process. Rahel was a newlywed and a mother of two infants, facing the high demands of her job as an architect. Following the birth of her second, she landed the construction of the Royal Netherlands Embassy, which required her to be at the top of her game despite long nights spent nursing her infants. Once the project was completed, she decided to take a break from her profession to care for her children. However, this break was short-lived. Her father, husband and male colleagues encouraged her to return to work. The decision was finalized when she was given a project by SOS International two months into her time off.

With this project came the requirement of establishing an office, applying for permits which is how RAAS Architect was created in 2004. Following the success of the SOS project, Rahel landed yet another major deal, the South African embassy, a client that exclusively wanted to work with her.

Design Principles and Key Projects

Rahel's creations are often described as refined, grounded, modern, and light. Her design philosophy combines beauty, functionality, science which aims to create a peaceful, comfortable and convenient space no matter the desired end use. From drawings to the final choice of materials and furniture, her detailed process involves her engineers, designers each step of the way, no detail being too small to pass on. Rahel’s duty is to create the best space for her clients to relax and thrive. Understanding the importance of indoor environments in modern life, she thrives to design well lit spaces that boost her clients mood and wellbeing. 

Nature plays a vital role in Rahel's design process. Her love for hiking and travel inspires her to incorporate natural and indigenous materials, the sound of water, sunlight, and natural surfaces, connecting occupants with nature even when they are indoors. This is evident in projects like the Ambassador Mall, where she blended modern design with the surrounding buildings using mosaics and maximizing natural light and air. At Halala Kela Resort, environmental preservation was key, and the project was completed in 18 months while respecting the natural heritage site with rooms designed to look like modern Dorze huts. Other notable projects include the Red Door Apartments, the British Council, and Cure International Children's Hospital, among many others.

Project Development and Financial Realities

Rahel adopts a client-centric approach, which involves listening to her clients needs which are then converted into design and adapted to the environment. She gives special attention to creating communal and green spaces, to ensuring that adequate natural lighting and ventilation are provided, that lights and power outlets are conveniently accessible, even down to the materials used in the final product. She works closely with engineers on technical aspects like drainage and structural stability, finding solutions to avoid wastage. She emphasizes the architect's role as a link between the client, project architects, engineers, and contractors, where the most important skill is listening and understanding a client’s vision. 

Financially, Rahel explains that architects often face compromises. With a team of engineers, designers, and technicians to support, and operational costs to cover, RAAS Architects has been able to  ensure the firm's financial sustainability by counterbalancing projects where they earn minimal fees with construction tenders. While RAAS may be seen as expensive, she justifies this with the quality of work and the size of the team that works with her to achieve her vision.

Advocacy, Mentorship, and Achievements

Rahel has been a strong advocate for architecture, explaining that it encompasses much more than just placing windows and doors on a structure. Her pursuit of quality and continuous learning has earned her numerous awards, including the Aga Khan Award for Architecture (2007) and the Association of Ethiopian Architects Best Architecture Piece Award (2017). 

A Harvard Fellowship, the first for an African architect, allowed her to teach and experiment abroad. She recalls having to explain her accomplishments to the other fellows who visibly had a greater visibility and widespread reputation in the architectural community. This experience highlighted the importance of documenting and promoting architectural projects in Ethiopia, a practice she encourages within the Ethiopian architectural community. 

Rahel is also passionate about mentoring young architects, sharing her experience and knowledge in order to help them achieve their vision. 

A Life Lesson in Empathy and Passion

One of Rahel's biggest life lessons is the importance of empathy. She believes in connecting, sharing, and feeling in every moment, which influences both her personal and professional life. As an individual, Rahel shares a warm compassion with those in her personal and professional spheres, experiencing each moment fully with passion. 

This article recaps the podcast episode about Eskender Yoseph and his journey to create Anan Agro Processing, a sustainable and comprehensive dairy farm in Ethiopia. It explores his early days, building his farm from scratch, the challenges he faced, and his vision for the future of farming in the country.

From Childhood Dream to Farming Passion

Eskender Yoseph was different from most kids raised in Addis Abeba. While his classmates dreamt of becoming doctors and lawyers, he was mocked for dreaming of becoming a farmer, living a life of taking care of the animals and the land. Despite facing ridicule, he kept his dream alive, working hard at his computer science degree until he made the shift to the agricultural sector. 

The shift came when he assisted his father with a catering operation at the Gelgel Gibe 3 dam project, the third largest hydroelectric dam in Africa with a capacity to generate 1,870 megawatt of power. Eskender ended up staying longer to help his father out on the catering operations. 

Daily, they faced the pressure of preparing meals to feed up to 3000 employees working on the dam, working tirelessly to meet their immense supply needs, even taking on risky routes to reach the markets. Eskender recalls a particular encounter he had on the occasion of the Easter holiday. When returning to camp from the market, he got a flat tire in the dead of the night, almost lost his vehicle, came very close to being attacked by warthogs /ከርከሮ/, and nearly bled to death in the middle of nowhere. Despite this extreme situation, Eskender persevered to find his way to safety and didn’t deter from working on the catering business. 

Now, understanding the realities of large-scale food production, him and his father took out a loan of 9 million ETB to take over the catering contract for the camp. One of the strategies they implemented is choosing cows as an affordable source of beef, these cows had to be approved by the safety department prior to the butchering, otherwise they were kept on camp to provide milk. Through time, the number of cows spared increased from 4 to 40, triggering the idea to start an on-site dairy farm which provides fresh milk, yogurt and butter to the camp.

Early Challenges and Perseverance

The challenges didn’t end there. His initial venture into dairy farming at the Gibe 3 site was interrupted by a violent burst of Trypanosomiasis, a disease transmitted by mosquitoes, which decimated his cattle and resulted in significant financial losses amounting up to 2 million ETB. Through the ups and downs, he remained in Gibe 3 and secured another catering contract, this time for 250+ project executives, allowing him to recover financially and relocate his farm to Addis Ababa. 

Inspiration and Innovation

On a personal level, Eskender fell more in love with farming when doing research, visiting foreign countries and encountering social media famous farmers who showed that farming is cool and intellectually challenging rather than a labor intensive low-skill job. He was also blown away by the success of large-scale dairy farms in Saudi Arabia, such as Almarai Company, Eskender realized the potential for dairy farming in Ethiopia. Almarai has been one of Saudi’s leading dairy companies despite facing harsh desert conditions. He recognized that poor cattle management was a major obstacle for local dairy farms and set out to create a self-sufficient and productive system. He highlights that “the combination of the country’s diverse ecosystem and the available variety of cattle is a recipe for Ethiopia to be a number one dairy producer in Africa”.

Anan Agro Processing prioritizes animal welfare: providing its cows ample feed (cows are fed 12 times a day), water, a spacious resting place and a time dedicated to socializing. This approach has enabled the farm to achieve high milk yields of 61 liters per head, supplying local processors like Hawassa University, Yirgalem Milk, and Shola Milk with 1500 to 2000 liters of milk per day.

Addressing Systemic Challenges in the Dairy Value Chain

Eskender identifies key challenges within the Ethiopian dairy sector:

• Fragmented distribution: The majority of milk distribution is handled by small-scale, household producers, limiting market reach and efficiency. Especially in rural areas, their reach is limited as they either don’t have the quantity or means of transport to expand their reach.

•  Feed scarcity: Larger farms often struggle with inconsistent access to quality feed, impacting milk production to the point of discontinuing production. Anan Farms addresses this by utilizing a combination of dry forage and concentrated maize feed, which they produce themselves.

• Quality control and branding:  Incidents of adulterated milk have eroded consumer trust. Eskender advocates for branding milk products to ensure quality and traceability. He confirms that milk producers have to abide by specific standards when supplying the market, otherwise their selling price is affected.

• Limited financial support: Farmers lack access to tailored financial services, hindering investment in equipment, infrastructure, and technology. The perception of farmers as “less than capable” has created a vicious loop.

Sustainable Practices and Future Vision

Anan Farms is committed to sustainability.  Eskender implemented a waste-to-energy system, converting cow manure into biogas for heat and power generation. The byproduct of this process is then used as fertilizer, creating a closed-loop system.  His ultimate goal is to create an entirely off-grid farm. His feed operations are equally an important part of the future for Anan Agro Processing. The farm aims to produce 9 million kilograms of feed and create feed lots during their expansion.

Beyond his own operations, Eskender aims to transform perceptions of farming. He actively shares his knowledge by engaging regularly on Anan’s Facebook page, and plans to establish an academy to train young farmers in modern techniques.  His vision extends to becoming a leading dairy farm in East Africa, leveraging Ethiopia's resources and potential.  Eskender's dedication to innovation, sustainability, and empowering the next generation of farmers positions Anan Agro Processing as a model for the future of dairy farming in Ethiopia.

MERI Summit 3.0

The Impact of Currency Floating on Your Business 

The MERI Summit held quarterly aims to connect with its audience and allow them to engage with prominent guest speakers on business, investment, and other thematic areas of interest. 

MERI Summit 3.0, organized in partnership with Mastercard Foundation, was held on September 6th at Capital Hotel in Addis Ababa, focusing on one of the government’s recent economic reform, currency floating.

This summit featured two keynote speakers who are experts in business and economics, with years of experience.

Understanding the Basics of Currency Floating

Before diving into the contents of the summit, let’s cover the basics of currency floating.

Imagine currency floating as a seesaw:  instead of having a fixed value, the Ethiopian Birr (ETB) now fluctuates based on supply and demand in the global market. When demand for Birr is high, its value rises against other currencies like the US dollar (USD). Conversely, if demand weakens, its value falls.

Previously, Ethiopia operated under a "quasi-pegged" system where the National Bank of Ethiopia (NBE) sets an official exchange rate for a period of time, leading to the overvaluation of birr and a thriving black market for currency exchange. The float aims to correct this by allowing market forces to determine the true value of the Birr.

Leading up to the summit, MERI had surveyed over 700 business people to gauge the early effects of the reform. The collected feedback was characterized by:

• Inflationary pressures: Rising cost creates pressure on businesses to adjust pricing, often resulting in customer loss.

• Revenue and valuation declines: Businesses reporting in USD experienced a sharp revenue decrease.

• Increased Operational Costs: Essential business operations, such as transportation and import duties (quoted in USD), have risen significantly, further squeezing profit margins.

One of the aims of the summit was to provide a better understanding of the mechanisms of the currency floating and address potential impacts on the Ethiopian business landscape.

Our Keynote Speakers

Mukemil Bedru, with 14 years of experience in Finance and Human Capital practice, is currently the Managing Partner at Elegance Group, former Board Chairman of Hijra Bank, and was a lecturer at Addis Abeba University for seven years.

Henok Assefa, an entrepreneur and investor with over 20 years of experience, whose work has focused on sectors like agribusiness, real estate, retail, and technology is the founder of Precise, co-founder of African Renaissance Partners, and Addis Abeba Angels.

Drawing Parallels: What Ethiopia Can Learn About Currency Floating from Ghana and Nigeria

Mukemil Bedru presented the case studies of two African countries: Ghana and Nigeria, who have implemented currency floating and offer contrasting lessons. Mukemil highlighted the mechanisms and impacts.

Ghana, adopting a gradual approach since 1983, achieved a stable Cedi and a thriving private sector. In contrast, Nigeria’s 2023 transition has been turbulent, with rising fuel prices and decreased foreign direct investment (FDI).

Key takeaways highlight the importance of:

• Gradualism and continuous adjustments: Ghana's phased approach to floating, with early measures to curb volatility, allowing for adaptation and eventual stability.

• Political consensus and stakeholder engagement: Ghana's success is partly attributed to agreement on currency management across the political spectrum and private sector involvement.

• Addressing underlying structural issues: Nigeria's struggles are exacerbated by its dependence on fuel imports despite being an oil exporter, highlighting the need to address deeper economic vulnerabilities.

While many feared Ethiopia's adoption of the reform would mirror Nigeria’s scenario, the reality is nuanced. Mukemil emphasized the need for stakeholder collaboration and a clear strategy to manage the floating system effectively.

Essential Actors: Identifying Key Stakeholders

Mukemil described Ethiopia’s situation using the analogy of “the cup and faucet”, where the cup represents our dependence on foreign aid that may eventually run dry, while the faucet illustrates a future with sustainable foreign currency flow from a robust export sector.

Mukemil mentioned the four key stakeholders and their role in the success of this reform:

1. Government: Stabilize the market, support export-oriented businesses, control spending, and improve access to finance and infrastructure.

2. Banks: Modernize systems to provide competitive services while collaborating with fintech companies for financial solutions.

3. National Bank of Ethiopia (NBE): Ensuring transparency and monitoring the market closely while addressing any market manipulation or illicit financial flows.

4. Businesses: Adapt to the reform, especially importers, while export sectors like manufacturing and technology could thrive. They will be more competitive in the global market, potentially boosting exports and driving economic growth.

Unleashing the Market: A Shift in Currency and Tax Policies

Henok explained how this economic reform signifies a major shift from government-controlled systems to market-driven dynamics. Instead of setting the USD exchange rate, the government is allowing market forces to determine its value. This transition is happening rapidly, leading to daily increase in the USD rate as the market finds its equilibrium.

Furthermore, the government is implementing significant tax reforms. Annually, taxes will increase by 1%, a new property tax will be imposed on real estate companies, and customs duties will also rise. 

The NBE’s monetary tightening policy has created a cash shortage, limiting banks' ETB reserves and potentially increasing borrowing costs for businesses.

Early Effects and Reactions

When the reform was announced, there was a great deal of uncertainty. MERI surveyed over 700 business people to gauge the early effects of the reform. The collected feedback is characterized by:

• Inflationary pressures: Rising cost creates pressure on businesses to adjust pricing, often resulting in customer loss.

• Revenue and valuation declines: Businesses reporting in USD experienced a sharp revenue decrease.

• Increased Operational Costs: Essential business operations, such as transportation and import duties (quoted in USD), have risen significantly, further squeezing profit margins.[SY1] 

Winners and Emerging Players

According to Henok, despite immediate challenges, certain sectors are poised to benefit from these reforms.

• Exporters: will gain global competitiveness due to a weaker currency.

• Agriculture and Manufacturing: Well-positioned to leverage local raw materials and target the export market.

• Technology: Holds promise, but reliance on imported tech components could pose challenges.

• Real Estate: Public funding for construction and the potential for Real Estate Investment Trusts (REITs) create new avenues for growth.

• Tourism: Ethiopia may become a more attractive and affordable travel destination for foreigners.

Navigating the Road Ahead

Ethiopia's adoption of a floating exchange rate system, while requiring careful navigation, has the potential to unlock significant economic benefits. A successful transition depends on:

• Creating awareness: From comprehensive public campaigns to educational programs, the public needs to understand how floating currency works and its implications for businesses.

• Creating a currency exchange platform: Transparency in forex trades is vital for building trust in the new system.

• Attracting foreign investment: Creating a stable and predictable investment climate, with efficient investment procedures can attract foreign direct investment necessary for growth.

• Risk management and mitigation: the government will need to intervene to mitigate the impacts of a floating currency on the population, either by putting in place measures to combat the rise of the cost of living, or intervening in the forex market to manage floating.

• Achieving sustainability: Developing a capital market can reduce reliance on foreign borrowing, and enhance the effectiveness of the monetary policy.

Conclusion

As the floating system has only been introduced recently, many impacts remain uncertain. According to the speakers and audience, for now, public perception is divided between optimism for growth potential and fears of economic chaos. Yet, it is important to remember that the success of the floating foreign exchange market is in the hands of multiple stakeholders who need to proactively monitor and adjust their commitments, as well as many factors. The coming years will be key in determining whether Ethiopia can fully capitalize on the benefits of this economic policy shift.

The Rush to Save a Life: A Night That Changed Everything 

In 2007, G.C. One night was a turning point in his career, and that was the case when a UK Diplomat came to Ethiopia and collapsed suddenly there in the airport. Then, he was nominated to take care of the diplomat and be taken to the UK that night. That was the first time he was out of the country. That was his first exposure to aerospace medicine. When he got there, he saw that the ambulance, the airport, and the embassy were in a rush to save that person's life after successfully helping the UK diplomat and spending five days in the UK. He was able to observe how their emergency ambulances operate.

Breaking the Cycle of Poverty: Kibret's Journey to Success

The story of Kibret Abebe Tuffa is a badge of determination, resilience, and innovation. Born in Jan Meda, uphill tasks began betting their odds on Kibret right from his early days. Being the fourth among 12 siblings, he was sure that education was the only way to break this poverty chain. He pursued schooling up to the high school level before venturing into higher education at Jimma Science and Health College for a nursing degree. 

After graduation, he started working around Bale in a small place called Ginir after working there for about five years. He was transferred to Tikur Anbesa Hospital, earning a very low income, so he started thinking about how to increase his income. Then anesthesia came into the picture, and he decided to educate himself. This was the time that the situation truly challenged him.

Against All Odds: Kibret's Story of Determination and Resilience

Even though he had reached this new profession, Kibret still thought his vision from the dream was far from where he was to be. His pay increased hard and he was notably struggling to get by. It was not until a turn in his career that the gravity of his situation hit him. On one of the most challenging night shifts, Kibret assisted nine mothers in giving birth to babies; however, he found that breathing the chemical emissions from the anesthesia machine made his head foggy. This sense of responsibility influenced him to quit his job.

His application for resignation was not successful initially since he owed scholarship fees. However, all this turned out to be a blessing in disguise. The rejection made Kibret rethink his priorities and the need for a good income. He started to work with several hospitals during the day and at night in Black Lion Hospital.

Though his friends used to mock him about his ambitions, Kibret never gave up. After six months, he bought a car and started living comfortably. His financial situation improved, and he began reflecting on the purpose for which he lived.

It was inspired by the frequent accidents in Ethiopia and the lack of proper emergency services. Kibret decided he wanted to do emergency medical services. He started reading about emergency room services, soon realizing that he would find his calling in giving emergency medical services.

A New Kind of Entrepreneur: Kibret's Journey to Filling a Gap in Emergency Services

After the UK incident, when he got back, he started focusing on Clarity of Thought in what he was doing. He immediately resigned from Black Lion Hospital and started working on his project, but at that time, he was not in business, so that was a bit challenging for him.

He wrote a proposal on his project and went to the Ministry of Health for support, but they told him they had his back if only he were willing to work like the Red Cross and not ask for any payments from users. Because there was no business like that at that time, there needed to be a procedure or manual to guide this kind of Business activity. After six months, he wrote the 17-page Ethiopia Standard of Emergency Manual himself, which the Minister of Health approved.

The second challenge he faced was Finance. For financial support, he went to different Banks, but all of them failed. So, finally, he decided to sell his house and buy an ambulance. But facing his wife was another challenge at the time. Especially in the first five years, it was difficult to get trust from clients, and the finance problem was very challenging.  

Even after that, he faced many problems. He also worked on creating a business model. He says he is not a capitalist or a charitable person but a social entrepreneur. For him, impact and profit go together. He believes that we have to fill a gap through a business model rather than through a typical aid. With all of his journey, there were a lot of ups and downs.

A New Era of Emergency Response: TEBITA's Rise to Prominence

Today, TEBITA has grown to be very big and operates with over 12 ambulances, serving a population of more than 150,000 people. More than 45,500 persons have received the organization's training, and it has evacuated over 1,000 patients to foreign countries.

Kibret's story is just a testimony to the power of social entrepreneurship. He believes that impact and profit go hand in glove; indeed, business can be used as a tool for good. By offering comprehensive services, including 24/7 ambulance support to remote medical assistance and training programs under TEBITA Ambulance Service, he is on the leading edge in emergency medical services and hopes to bring change in Ethiopia.

Kibret's current business venture is increasing TEBITA's presence across the globe through East Africa Emergency Services in Seychelles. By providing organized emergency medical services and management, he decreases mortality and morbidity rates. His journey inspires many to believe that if one has the will and hard work, he can conquer any uphill task, no matter how daunting.

About TEBITA Ambulance Service

TEBITA Ambulance Service is the first private-sector Emergency Medical Services provider established in the land in 2008 by Mr. Kibret Abebe Tuffa. It offers 24/7 ambulances, remote medical assistance, and standby event cover. There have been more than 60,000 emergency responses from TEBITA, making it a trustworthy and efficient emergency service provider. 2015 saw them expand their global presence with the opening of East African Emergency Services in Seychelles. Not only does TEBITA deliver its critical services to clients, but it is also actively involved in community awareness programs that are meant to contribute to the well-being of populations. Having a vision of reducing mortality and morbidity rates by ensuring well-organized emergency medical services and management, TEBITA has continued creating awareness of developing organized Emergency Medical Services within Ethiopia's health scenario.

Faysel Abdosh is the founder and CEO of Testi Coffee, which ranks among Ethiopia's top 10 coffee exporting companies. Testi Coffee operates a network of over 27 coffee-producing sites across Ethiopia.

Faysel Abdosh was born in Benchi Maji, Ethiopia. He began his entrepreneurial journey with 2,500 ETB received from his mother during high school, initially entering the food oil supply business and gradually transitioning to the gold trade after amassing 10,000 ETB. Despite dabbling in retail and pharmacy ventures, Faysel ultimately entered the coffee industry, and he worked as a coffee supplier in the local coffee industry for 7 to 8 years until 2010 E.C. He then transitioned to exporting, and specializing in specialty coffee export around 2020.

Specialty Coffee

Faysel described specialty coffee as its name suggests: special, highlighting its recognition of the meticulous preparation level of the coffee. He began his specialty coffee journey by purchasing a single coffee-making site from Guji Shakiso and selling his first specialty coffee to a client in Holland, Amsterdam. Faysel stressed that the quality of coffee depends on factors such as soil type and altitude, with Ethiopia's altitude of over 1,800 meters contributing to high-quality beans.

The Ethiopian Coffee Sector

Faysel asserts that Ethiopian coffee has garnered global attention in the last 7 to 8 years, with even starting a trend towards selling smaller-sized coffees. He acknowledges the quality of Ethiopian premium coffee in the market, attributing it to the high-altitude coffee beans, especially from Sidama. 

Client or The Coffee First

However, Faysel concedes that marketing and finding clients are difficult tasks in the sector. He mentioned, 'Resources take precedence over the client or buyer, as it's challenging to source the coffee after securing a client.'Venturing into the coffee business without a thorough grasp of the complete supply chain poses a significant risk.

Faysel recommends exporters avoid sending pre-shipment samples and delivering different coffee than what was promised to clients, as it can harm the brand's reputation, and prioritizing quality is important in building a brand in the coffee exporting sector. It's preferable to declare a product sold out rather than attempting to fulfill orders with only a sample. Faysel advises newcomers entering the coffee business not to focus solely on profit and importing because trust between clients and exporters is essential in this industry.

Privatization in the Coffee Sector

With Ethiopia opening its doors to international businesses, Faysel underscores that local brands should not fear competing with them. He suggests the potential for Ethiopian brands to thrive globally, citing Keffa Coffee as an example.

The Ethiopian government needs to encourage businesses to expand internationally to maintain competitiveness. This involves facilitating and enabling enterprises to operate globally by providing necessary financial support and assistance, while also supporting their local businesses.

As Testi Coffee gains a larger presence globally, Faysel plans to enter the international market. His long-term goal includes establishing coffee businesses in the USA, Europe, and Asia.

Leadership

Faysel does not believe in micromanagement and excessive meetings. He prefers addressing problems directly and providing mechanisms to solve them, rather than relying on frequent meetings. He said, "Excessive meetings will lead to miscommunication." 

Life Wisdom

Faysel's life exemplifies the significance of persistence and hard work in transforming one's life. He believes that the opportunities given by God can make a difference only when individuals take responsibility and work diligently to achieve their goals. Faysel asserts dedicating time and effort to the right pursuits can lead to significant progress along the way. 

Faysel said, ‘It's crucial to be eager to turn problems into opportunities.’ He notes that the challenge lies in the tendency of people to dwell on problems rather than seek solutions.

Thank you for taking the time to read! To explore further insights from Faysel Abdosh, simply Click Here and enjoy the entire podcast.

This Article is being brought to you by Meri in collaboration with the Mastercard Foundation. Since the launch of Young Africa Works in Ethiopia in late 2019, the Mastercard Foundation through various partnerships has enabled 1.4 million young people to get access to work opportunities in Ethiopia. These opportunities have been cultivated through partnerships across the Foundation’s priority sector, agribusiness, agro-processing, manufacturing, and the digital economy. In Ethiopia, the Mastercard Foundation aims to enable 10 million young people (70% women) to have access to work opportunities by 2030.

Meri Summit is a quarterly summit designed to facilitate interaction among accomplished entrepreneurs with our audience. It serves as a platform for engaging with influential voices in the entrepreneurial sphere and advancing professional pursuits. Through discussions and networking sessions, participants can expand their connections and cultivate valuable knowledge at Meri Summit. 

Mr. Samuel Yalew, Mastercard Foundation Country Director for Ethiopia, commenced our premier Summit by highlighting the significant partnership between Meri and the Mastercard Foundation. He acknowledged the alignment of our shared values and missions, recognizing Meri's role in providing learning opportunities for individuals, entrepreneurs, and leaders seeking to expand their knowledge. 

Following Mr. Samuel's opening remarks, our main speaker, Mr. Meried Bekele, took the stage and introduced the session as an HR (Human Resources) masterclass focusing on creating a high-performing team, aiming to share his knowledge and experiences that he gained from running IE Network Solutions for 15 years.

Mr. Meried Bekele began by presenting the employee life cycle at IE Networks, spanning from hiring to exit, and it encompasses four different teams;

1. Talent Acquisition, Onboarding, and Exit Team 

Talent acquisition involves identifying individuals who align with the company's values and seeking those who are prepared to achieve excellence, challenge their limitations, and meet deadlines. To that end, the hiring process at IE Networks involves the following procedure:

• Induction: Introducing new hires to the company culture and their roles.
• Probation Target: At IE Networks, specific targets are set for probation, covering technical skills, attitude, and attendance. Failure to meet 80% of these targets within 60 days results in termination.
• Coaching: Each new employee is assigned a senior employee to guide them through their probation period.

2. Employee Engagement, Training, and Leadership Development Team

This team is responsible for new hire training, skill development, certifications, engagement activities, and leadership training. 

After meeting probation targets, employees undergo a two-week new hire training, different skill development sessions, and quarterly certifications tailored to their needs. 

Within IE Networks, they conduct Stay Interviews to understand employee experiences and Exit Interviews to gather feedback upon resignation. Meried highlights the need to conduct Stay Interviews to recognize employee disengagement before formal resignation, asking questions like, 'What causes frustration or dissatisfaction in your role?' and 'Are there aspects of your relationship with your manager you wish him to improve?’, These kinds of inquiries aim to uncover underlying issues which lead to resignation. Similarly, Exit Interviews aim to offer departing employees a positive reflection on their time at the company, involving gathering feedback on their overall experience and potentially addressing any remaining concerns or grievances.

Meried said, "We foster a culture of Conversation, Feedback, and Recognition (CFR) where an employee engages in a one-on-one session with their manager, participates in a quarterly session with the CEO, and completes more than 10 anonymous surveys per quarter to provide comprehensive feedback.

Engagement activities at IE Networks include running sessions, football matches, and different team-building games.

3. Planning and Performance Management Team

This team oversees goal-setting, Objectives and Key Results (OKRs ), Key Performance Indicators ( KPIs), daily standup meetings, weekly check-ins, bi-weekly meetings, monthly performance reviews, and performance improvement plans. Meried underscores the importance of measurement, citing Peter Drucker's quote: "If you don't measure it, you can't manage it." 

At IE Networks, they use a tool called Basecamp, an organized and cost-effective product for project management, performance tracking, reporting, and internal collaboration.

4. Attendance, Benefits, and Compensation Team

This team manages the company's routine work environment, including attendance, benefits, loyalty programs, incentives, bonuses, payroll, and variable payments that will be added to the employees' base payment based on their performance.

After his presentation, Mr. Meried responded to questions raised by our host, Kenean, and addressed queries directly posed by the audience. Below is the summary of the key discussion points: 

Hiring and Termination Practices 

Under IE Networks, hiring decisions are decentralized with each department manager, having the authority to request new employees quarterly. The management evaluates these requests, and if approved, the requesting manager oversees all aspects of the hiring process, including drafting job descriptions, advertising vacancies, and conducting initial interviews with the HR team.

According to Meried, it's important to be data-driven rather than relying on gut feeling when it comes to disciplinary actions or terminations as emotional decisions can lead to unintended consequences, particularly from a legal standpoint. He recalls the experience shared by his friend who has worked in a U.S. company, where warnings and terminations are handled without emotional involvement there. Instead, individuals receive automated letters detailing the decision, which are then filed in their HR records.

Managing Team Conflict 

Meried advocates for embracing debate and diverse viewpoints within the working environment, and he underscores the importance of addressing underlying issues. To manage conflicts effectively, implementing a structured conflict resolution process is preferable, with the HR team taking a lead role in facilitating resolution among employees, documenting meetings, and clarifying issues to resolve conflicts internally. However, for more significant conflicts that HR cannot reconcile, the CEO may occasionally intervene to mediate and facilitate resolution.

Leadership Approach for the New Generation

Meried asserts that the current generation craves challenge, inspiration, purpose, impact, and appreciation. Recognizing that most employees at IE Networks are youngsters, he recommends creating an environment that acknowledges their efforts and assigning meaningful tasks will lead to higher accomplishment, and by meeting these needs, discipline can be instilled in the new young generation efficiently.

How to Manage Company Growth

Meried draws inspiration from the book 'Sapiens,' highlighting that in this era, one of humanity's greatest achievements is uniting hundreds of thousands of individuals to achieve a common goal. He acknowledges the importance of early documentation and process definition, considering it as crucial as completing tasks since maintaining the company culture requires developing documentation from the outset. He suggests incentivizing employees with additional credits for creating documents and developing documentation shouldn't be seen as an additional burden but as an integral part of the workflow.

Essential components of documentation include Standard Operating Procedures, How-to Manuals, internal process flow diagrams, and policies related to HR and technical aspects. Meried believes that sharing knowledge through documentation shouldn't be perceived as making oneself easily replaceable, but it opens doors to various opportunities and advantages in the long run, considering that knowledge is available everywhere nowadays.

Operating Without the Founder

Establishing a functional system in the absence of the founder poses challenges, and these crises require decision-makers within the management team to manage business operations and maintain transparency. Meried references a well-known scenario, if a CEO were hit by a bus and died, would the company survive? The answer lies in the company's processes and raises critical questions like, Are approvals solely dependent on the CEO? Are there essential pieces of knowledge exclusive to the CEO? Questions like these are important to foster a culture of preparedness for such eventualities.

Managing Performance 

According to Meried, founders should invest their time and energy into developing a robust HR team and establishing clear KPIs. Defining Key Performance Indicators (KPIs) should align closely with an employee's actual job responsibilities, for instance, a salesperson's performance should be evaluated based on their sales achievements. 

At IE Networks, managers are responsible for conducting one-on-one performance evaluations with individual employees and overseeing team performance, while the HR team serves as a consultant to managers in this process.

The Importance of Mission Over Vision

Meried underscores the importance of mission over vision. Through his experience at Stanford Seed, he learned the necessity of prioritizing the mission statement and focusing on the company's purpose. He exemplified IE Networks' mission to change lives in Africa through a disciplined work culture and systemic thinking, which led the employees to come to the office to create a disciplined working environment and to think systemically rather than to do different tasks.

Building Company Culture 

Meried recalls advice from Google founders Larry Page and Sergey Brin regarding organizational culture. They underscore starting organizational culture from the company's inception, as they did when creating Google in a garage, and he recommended hiring an HR employee at the outset of the company's establishment, ideally at the earliest stages.

Future Plan

IE Networks aims to expand its services beyond projects, including cloud service provision and IT outsourcing (BPO), with plans to transition internal operations software and applications into cloud services products.

Meried plans to list IE Networks on the newly emerging Ethiopian Capital Markets within the next two to three years, transitioning it into a public company with proper corporate governance and a new CEO. He is considering leaving the company to explore opportunities in coaching, consulting, and venture capitalism, aiming to assist startups to succeed. Additionally, he has a passion for teaching and plans to share his knowledge through writing books, with the ultimate goal of transforming his experience.

Thank you for taking the time to read our Meri Summit summary brief! For further insights about building a high-performing team, Click Here to enjoy the complete episode on Meri Podcast YouTube channel!

Initially, Yoadan never envisioned owning a business, nor did she have concrete plans or goals in life. She started organizing events with her friends in the U.S., by orchestrating weddings and birthday parties, but she soon realized that her strengths lay in corporate-level events.

At the time she came back to Ethiopia, Yoadan planned for only a short visit, but she felt a strong pull to stay in her home country after spending 15 years in America. Eventually, she found herself continuing to organize events in Ethiopia when she arranged one for a friend unintentionally, and through word-of-mouth over a year and a half, Flawless Events gained traction without any formal advertising as each successful event led to recommendations for subsequent ones, fostering organic growth for the business.

Yoadan Tilahun is the Founder and CEO of Flawless Events, an event management company specializing in the comprehensive design and production of international conferences and corporate events. Flawless focuses on events with meticulous attention to detail, tailoring designs, plans, and executions to clients' needs. The notable and biggest event among their projects was held in 2011 E.C., drawing 7,000 attendees with 13 parallel sessions, impacting the transformation of Millennium Hall from a conceptual space into a bustling conference venue.

Managing Talent

Beyond monetary compensation, Yoadan highlights the significance of emotional connection to inspire employees and acknowledges the importance of addressing their individual growth needs. She said, small and medium-sized company founders often overlook the well-being of their team members, but they should prioritize and master the art and science of effective human resource management. Yoadan believes that performance evaluations should focus not only on salary increments but also on facilitating discussions to better support employees and foster mutual growth between them and the company.

Advice for Diaspora's

Yoadan offers a recommendation to diaspora individuals on the importance of managing their expectations when they come back to Ethiopia. She underscores not to view returning to Ethiopia as a charitable act or perceive the country as a charity case, suggesting that individuals should approach their decision to return with realistic expectations and refrain from comparing Ethiopia to their current place of residence, as setting realistic expectations is vital for finding happiness upon returning.

Before making the move, diaspora individuals should reflect on their reasons for returning. Are they genuinely excited about the country's potential? Do they believe they can make a meaningful difference? It's essential to consider what unique perspectives they bring and how they can contribute effectively to the market.

The Future of Flawless

Yoadan believes that Flawless’s potential and possibilities are endless due to its strong brand value. However, she acknowledges she doesn’t know what the next level of Flawless entails, recognizing her strengths lie primarily in event management and feels that someone may have the capacity to expand Flawless into different sectors where the brand has untapped potential, supporting the idea of passing the company to someone who can nurture its growth further, and she envisions Flawless becoming a legacy institution.

Yoadan advocates for a board of directors mechanism where professional directors lead executives to ensure the longevity of the brand, asserting that a business should not perish when its founders are no longer involved, whether due to mental or physical limitations. Like a child becoming independent, the business should be nurtured to the point where it can sustain itself, relinquishing control as the business matures, allowing it to thrive beyond the influence of its owners and founders.

Learning Mechanisms

Oprah Winfrey has been a significant influence on Yoadan, she learned the power of empathy and the importance of learning from others' mistakes from Oprah. Yoadan prefers to glean lessons from others' failures rather than experiencing failure firsthand, and she values real-time books for the insights they offer into the journeys of people and entrepreneurs. Rather than the actual work of event management, Yoadan finds lessons from her team and enjoys attending trade fairs to stay abreast of industry trends and innovations from around the world.

Life Guidance

Yoadan suggested that not everyone is suited to entrepreneurship, and gaining experience as an employee before venturing into business ownership is advisable. Acquiring expertise in one's career before pursuing entrepreneurship will help youngsters value the process of upholding their commitments, learn the responsibilities of both employees and employers, build their brand through their daily actions, and develop a strong work discipline early in their careers. She recommended business owners to be transparent about the challenges and hardships they face, rather than glamorizing entrepreneurship.

Yoadan advises youngsters to trust others' self-disclosures about their personalities and capabilities. For example, if someone admits to being a player or describes themselves as crazy, it's better to believe them and move on rather than attempting to change them.

Yoadan advocates for women's economic empowerment to enable them to take care of their emotional well-being. She encourages women to have open and honest conversations with their partners before marriage like sharing their priorities and plans as it is necessary to address issues at an early stage, whether in business, relationships, or social life.

Thanks for Reading! If you want to learn more from Mrs. Yoadan Tilahun, Click Here to watch our full conversation.

Meried Bekele's professional journey started when he was hired as a network engineer after he graduated from Mekele University as an Electrical Engineer. His knowledge in designing networks for a private company helped him build a strong personal brand in the networking profession, but because of his eagerness to hunt further opportunities, he transitioned to a government entity where he pursued additional training and obtained expert certifications. Meried's achievement as the first CCIE (Cisco Certified Internetwork Expert) in Ethiopia was significant, it paved the way for him to work as a networking consultant at Ethio Telecom and take on various part-time roles.

Meried Bekele was born and raised in Addis Ababa, Ethiopia. He is the Founder and CEO of IE Networks, a B2B company providing networking services specializing in the implementation, consulting, and network design to banks, universities, government entities, and multinational corporations.

Recognizing Meried's expertise, people suggested him to formalize his work into a company rather than continuing as a part-time professional. Consequently, he founded IE Networks over 15 years ago, while he became an unintentional entrepreneur. At IE Networks, their focus is on streamlining company operations through technology, specializing in automating network-related tasks using information technology by integrating both hardware and software solutions to optimize efficiency.

Transitioning from Professionalism to Entrepreneurship

Recognizing his lack of management skills, Meried decided to pursue a Master's degree in Business Management. Upon establishing IE’s first office with five or six employees, he embarked on a transformative journey by attending a series of week-long courses at Harvard Business School, and this experience proved to be enlightening with one particular moment leaving a lasting impact on his time at Harvard, Meried recalled the final day when each participant was gifted two books, one of which featured the title "Fire Someone Today." He stated, the importance of executives being willing to let go of an employee who hinder the realization of the companies vision and core values.

Meried remarked, “founders should acquire fundamental lessons in leadership and management.” Short courses offered at institutions like Harvard and programs such as the Stafford SEED course can offer valuable insights, particularly beneficial for those with limited leadership experience.

Talent Management 

For years, Meried has dedicated 15-16 hours a day, with over 50% of his daily efforts focused on human resource management due to the scarcity of skilled individuals with the necessary technical knowledge, which is often not adequately covered in universities.

Meried clarifies the importance of adhering to weekly targets and attributes failure to laziness or a lack of passion for the work. Inspired by John Doerr's book "Measure What Matters," he implements the OKR (Objectives and Key Results) management system at IE Networks. Meried highlights a key lesson displayed prominently at the gate of his office, "Ideas are easy, execution is everything." articulating the need for timely execution of plans, as prolonged projects are considered failures.

IE Networks facilitates quarterly one-on-one conversations between employees and their direct managers, as well as there are meetings between employees and the CEO, to address the overall challenges and strengths of the company. Meried believes in an approach that balances appreciation and constructive criticism, underscoring the importance of goal-setting, celebrating achievements, and providing candid feedback to foster growth. 

Recruitment at IE Networks adheres to an 80/20 rule, with 80% of employees being fresh graduates who grow within the company, valuing discipline, work ethic, and a passion for growth. The company is uncompromising in its commitment to cultural fit, new hires are given probationary targets to achieve within 60 days, and ongoing performance is evaluated using the OKR system aligned with the company's culture. Termination follows the country's policies for employees facing dismissal if they are consistently late for eight days within six months. 

The IT Sector

Meried underscores the significance of the current era of technology, highlighting how past billionaires may have amassed wealth through industries like oil, fashion, or global supermarkets, but today's landscape is dominated by technology. He advocates for prioritizing technology as a cornerstone of national policy, citing its crucial role in fostering economic growth due to its indispensable presence in our daily lives. The potential of the IT sector asserts that it has the power to revolutionize the lives of Ethiopians, and Meried envisions a future where Ethiopia's commitment to developing its IT infrastructure could lead to significant advancements, and if the right systems in place, companies like IE Networks could emerge as major players even in the telecommunications industry.

B2B Sales in Ethiopia

B2B sales in Ethiopia, particularly for IE Networks operate within complex frameworks as they serve customers such as banks, universities, and government entities. IE follows a sales model with an average sales cycle of one year, and the purchasing process employed by customers can be intricate, requiring a deep understanding of their specific needs and preferences. 

In B2B sales, it's important to ascertain whether customers prioritize quality or are more concerned with cost-effectiveness, and the sales personnel must possess a thorough understanding of their customers. As the high stakes involved - even minor issues, delays, and shortcomings in performance can result in disqualifications and repercussions, potentially leading to significant financial losses.

It is also important to maintain a selective approach to customer relations. The necessity of parting ways with customers who exhibit unethical behavior, negativity, or prolonged delays in payment can detract from the company's focus and undermine its success in the long run.

Success Principles

Meried defines success by the influence he provides on leadership and the growth of his team witnessing individuals thrive within the environment he has cultivated. Additionally, establishing public institutions is another hallmark of success for Meried, he is eagerly anticipating the opportunity to transition IE Networks into a public brand through the capital market, drawing inspiration from examples like Bill Gates, whose ownership stake in Microsoft is less than 1.5%.

Life Wisdom

Meried imparts valuable life wisdom, underscoring the importance of being a perpetual student, believing one can glean lessons from every experience if he/she maintains a willingness to learn. He advocates for self-comparison with our past rather than external benchmarks, recognizing ego will impede growth. Meried asserts that anyone can evolve if they embrace the mindset of continuous improvement, explaining that bold visions are not that essential, instead the focus should be on striving to become a better version of oneself each day.

Eventually, we want to share the books that Meried suggested as many of our audience members requested. Here is the list of 30 books Meried shared categorized into 4 areas:

I. Continuous Self-Improvement:

1. Mindset by Carol Dweck

2. Grit by Angela Duckworth

3. The 10X Rule by Grant Cardone

4. Ego is the Enemy by Ryan Holiday

5. The 5 AM Club by Robin Sharma

6. The ONE Thing by Gary Keller and Jay Papasan

7. Never Stop Learning by Bradley R. Staats

II. Acquire Basic Management Skills:

1. The One Minute Manager by Ken Blanchard and Spenser Johnson

2. The Goal by Eliyahu M. Goldratt and Jeff Cox

3. Measure What Matters by John Doerr

4. Getting Things Done by David Allen

5. Extreme Ownership by Jocko Willink and Leif Babin

6. Radical Candor by Kim Scott

7. Hire for Attitude by Mark Murphy

8. Fire Someone Today by Bob Pritchett

III. Grow from Management into Leadership:

1. Good to Great by Jim Collins

2. The Founder’s Mentality by James Allen and Chris Zook

3. Thinking in Systems by Donella H. Meadows

4. Think Again by Adam Grant

5. Dare to Lead by Brene Brown

6. Turn the Ship Around by L. David Marquet

7. The Five Dysfunctions of a Team by Patrick Lencioni

8. Emotional Intelligence 2.0 by Travis Bradberry and Jean Greaves

IV. Learn from Successful Entrepreneurs:

1. Principles by Ray Dalio

2. Elon Musk by Ashlee Vance

3. Steve Jobs by Walter Isaacson

4. The Everything Store by Brad Stone

5. The Snowball by Alice Schroeder

6. Shoe Dog by Phil Knight

7. Titan by Ron Chernow

P.S. This article is a summary of our podcast conversation with Mr. Meried Bekele, featured in May 2013.

Thank you for taking the time to read! For further insights from Meried Bekele, Click Here to enjoy the complete interview on the Meri Podcast YouTube channel!

Dr. Brook was born and raised in Addis Ababa, he spent his formative years in Ethiopia until the age of 19. His educational and professional journey has taken him across various countries until he returned to Ethiopia six years ago to serve his country as a Senior Advisor to The Ministry of Finance in 2018, and currently he holds the position of Director General at the Ethiopian Capital Markets Authority.

What is Capital Market?

Dr. Brook explained the Capital Market as a marketplace where people engage in buying and selling shares like debts and company stocks. It is divided into two main sections, one dedicated to buying and selling shares called Equity Market, and the other to managing debts, Debt Market.

Imagine a group of owners of a company decides to sell 25% of their ownership to secure funds for expanding their company, they would head to the Equity Market to find buyers for these shares or on the other hand, suppose you want to expand your company without selling any ownership, you may create a debt document, essentially for borrowing money from multiple investors simultaneously and you will be committed to repay the borrowed funds either over time or in a lump sum, this is known as the Debt Market.

The establishment of the Capital Market Authority is a crucial step in overseeing the capital-raising process and addressing challenges related to fragmented transaction costs.

Dr. Brook outlined the importance of a comprehensive framework and prospectus for anyone intending to sell shares in the market, this document (prospectus) is vital as it should clearly detail how the funds raised will be utilized to inform investors or potential buyers of the shares. The Ethiopian Capital Markets Authority requires sellers to:

• Assist investors in obtaining necessary details
• Disclose all relevant share information before any share purchases
• Submit an investment press release to the Capital Market Authority before fundraising
• Provide detailed information on individuals involved, investment specifics, and potential legal issues.

This commitment to transparency nurtures a fair and well-informed investment environment, and non-compliance may lead to severe penalties, ensuring heightened accountability and safeguarding investor interests.

Introducing Innovative Products

Dr. Brook envisions introducing innovative products to the capital market, exemplified by the concept of a product called Factoring. Imagine a scenario where a prominent company in Ethiopia offers a 90-day check option for small and medium-sized companies for the services the company receives from them, but small and medium company owners may struggle to maintain their supply chain as they aren't getting paid for months. Factoring addresses this issue by collecting all the check debts and selling them to financial institutions, which can then aggregate these debt obligations to a total worth of 5 or 6 billion Ethiopian birr, subsequently listed for various potential buyers in the market to purchase these debt checks.

Trading Platforms

There are essentially two types of trading in the capital market:

1. OTC: Non-listed companies engage in buying and selling through brokers via price discovery mechanisms.

2. Automated System: This is the main trading platform that dynamically caters to the needs of both sellers and buyers, adjusting based on the quoted price of any share destined for listing.

Business Readiness for The Capital Market

Companies looking to enter the capital market should prepare themselves through a system known as IPO readiness, which can be facilitated through firms or advisory teams possessing the expertise to tailor the process to the company's specific needs.

Concerning new share established companies, a comprehensive prospectus is a necessity. This document must outline the feasibility study, identify the responsible party, evaluate their knowledge base, determine the valuation, and ascertain the overall worthiness of the venture.

Dr. Brook stresses that even existing companies require a prospectus to ensure investors are well-informed before engaging in any transactions. There is also an alternative avenue known as listing by introduction, which caters to existing companies seeking to sell their pre-existing shares. Unlike a new share issue, this process doesn't involve creating new shares but demands adherence to specific disclosure requirements for listing with the market value determined by prevailing market forces.

Regarding share acquisition, Dr. Brook underscores the tightly regulated process, where access is granted solely through a licensed broker sanctioned by the authority. He notes that buyers are barred from direct system access and brokers are prohibited from self-purchasing unless they operate as dealers while acquired shares are exclusively deposited into the buyer's Central Security Depository (CSD).

Preparing a business for participation in the capital market demands meticulous attention to several key aspects. This includes:

• Automated and Clear Financial Actions: Ensure that every financial transaction is systematically defined and transparent which aims to reduce the scope for discrepancies.
• Crystal-Clear Business Strategy: Define your business strategy with utmost clarity. A well-defined strategy serves as a guiding light for investors, instilling confidence in your venture.
• Transparent Utilization of Funds: Clearly articulate how you intend to utilize the funds acquired, as investors seek transparency regarding the purpose and potential returns on their investment.
• Ongoing Financial Reporting Obligations: Once your company is listed, there is a mandatory quarterly reporting obligation for the authority.
• Empower Your Team: Empower your workforce to enhance operational efficiency. A skilled team is an invaluable asset in navigating the complexities of the capital market.
• Strategic Outsourcing: Consider outsourcing certain aspects of your strategy to specialized advisory and consulting service companies. This ensures that your approach aligns with the specific needs of your sector, optimizing overall performance and compliance.

Following the resumption of the public offer directive, new companies entering the market will exclusively possess electronic share certificates, eliminating traditional paper certificates. This shift aims to enhance the efficiency of the overall buying and selling system, encompassing government and corporate securities.

The evolving landscape of the capital market will introduce 15 new licensees, including brokerage firms, dealers, and investment banks. Dr. Brook clarifies that these investment banks differ from traditional banks because they are Non-Deposit Taking Banks and their role includes offering advice, providing investment counsel, and listing share companies.

Opportunities for The Diaspora

There is a streamlined process for diaspora individuals looking to invest in the Ethiopian Capital Market, where an investment can be made within seconds through a single mobile application with the guidance of their broker, and this framework opens doors for the diaspora to contribute to Ethiopia's economic growth and participate in the opportunities presented by the dynamic capital markets arena.

It's necessary to be mindful of the regulatory landscape and restrictions imposed on foreign investors, ensuring alignment with the priorities set by Ethiopian governmental policies rather than solely relying on guidance from the Capital Market Authority.

Early Adopters

In the initial phases of The Ethiopian Capital Market evolution, several key players may step into the arena. Let's take a look at who they are:

• Pension Funds: Emerging as institutional investors, pension funds may play a pivotal role in shaping the landscape of the Ethiopian Capital Markets.

• Retail Investors: Individuals entering the market through diverse distribution channels form a crucial segment, and their participation adds dynamism and diversity to the investor base.
• Banks: May establish their presence through dedicated branches and distribution outlets, thereby fostering market liquidity and accessibility.
• Insurance Entities: Venturing into the capital market, insurance entities bring a new dimension to investment avenues. This adds a layer of risk management expertise to the market.
• Collective Investment Scheme: Managed by professional fund managers, collective investment schemes offer a structured investment approach to enhance market sophistication.
• Real Estate Investment Trusts (REITs): Focusing on generating revenue from rents and selling, REITs contribute to market diversification.

Dr. Brook envisions a promising future for the capital market, anticipating the involvement of government entities and corporate companies, particularly in debt market services, which could lead to the emergence of 4 or 5 substantial entities. He concludes, "Understanding the capital market isn't complicated, it thrives through active engagement, practical experience, and acquired knowledge."

The Capital Market Authority has identified 4 types of taxes, and they are refining their implementation of tax structures to create a transparent and sustainable financial ecosystem.

Life Wisdom

Dr. Brook shares valuable life lessons learned from his journey as he recounts a setback from more than two decades ago—failing the 12th-grade Ethiopian Higher Education Entrance Examination. Drawing from his own experience of facing failures, he encourages viewing failure not as an end but as an opportunity to learn and reshape the path.

Reflecting on the profound advice shared by Professor Mesfin Woldemariam during his graduation as a gold medalist, Dr. Brook urges young people not to drift aimlessly like a leaf in the wind, but to take charge of their life direction, emphasizing that life is a limitless journey waiting to be explored.

P.S. Starting from Feb 12, 2024, The Ethiopian Capital Markets Authority will grant licenses for the market participants.

Thanks for reading! If you want to learn more about the newly emerging Ethiopian Capital Markets, Click Here to watch our full interview with Dr. Brook.

Marcus Samuelsson's journey is an adventure filled with tough times turning into significant victories. Marcus was born in Ethiopia as Kassahun Tsegaye, he faced challenges early on, especially when a disease called tuberculosis took his birth mother away. Fortuitously, a kind nurse and fate stepped in, bringing Marcus and his sister into a caring home. 

Destiny comes into the story when the nurse connects the siblings with a Swedish adoption agency. This connection eventually led to their adoption by Anne-Marie and Lennart Samuelsson in Sweden. Subsequently, Kasahun Tsegaye became a person named Marcus Samuelsson. Marcus reflects, 'Sometimes a horrible thing in your life can be an opportunity for something.'

Achieving Three-Star Review in New York

Growing up in a diverse family, Marcus learned to love cooking from his grandma, Helga. His dreams of becoming a professional football player shifted, and he started working in restaurants as a teenager.

Marcus worked without payment for several years. He attended cooking school in Sweden, Switzerland, and Austria before making his way to France. Despite facing challenges like plates being thrown and encountering rejection to own a restaurant because of his skin color, France provided him with valuable lessons and experiences. Afterward, he moved to the U.S. and joined a Swedish restaurant in New York. He chose the U.S. because of his father, who had gathered information about black excellence in the U.S. through books and movies.

In New York, when the head chef passed away, 24-year-old Marcus took charge as the head chef and received a fantastic three-star review from The New York Times. Marcus stated, 'Food is my best language, rather than all the languages I speak, I explain myself in food.'

Marcus's Red Rooster in Harlem

In 2003, Marcus Samuelsson took a significant step in his culinary journey by focusing on Harlem, moving there with his wife Maya Haile in 2005. He spent seven years exploring the cultural history shaped by the Great Migration. 

Unlike his European experiences, Marcus patiently explored the diverse culinary influences within Harlem. Before introducing Red Rooster in 2010, Marcus connected with Harlem, discovering Black culture and culinary traditions. 

The renowned restaurant, Red Rooster features a diverse and soulful menu, reflecting the cultural blend of Harlem with food classics and dishes inspired by immigrant communities. Praised by The New York Times and frequented by notable figures like the Obamas, Red Rooster evolved beyond a restaurant into a cultural and culinary landmark, a community hub celebrating Harlem's vibrant spirit.

The Marcus Addis Project

Alongside his wife, Marcus is leading the way to achieve his goal of owning a restaurant in his home country. At the end of 2023, Marcus introduced a project called Marcus Addis, aiming for a top-notch restaurant located in the tallest and biggest buildings in Addis Ababa. Looking ahead, Marcus dreams of empowering young Ethiopian chefs by taking them to the U.S., providing opportunities to learn, and then returning to their home country, Ethiopia, to collaborate on innovative cooking projects.

In 2023, Marcus achieved a significant milestone by winning an Emmy Award for his short-form program, 'My Mark.' Beyond his television success, Marcus has also stood out as a best-selling author, with acclaimed books like 'Yes, Chef' and 'The Red Rooster Cookbook,' earning praise for his noteworthy contributions to culinary literature. 

Lastly, Marcus underscores the importance of collaboration, the pursuit of dreams, and expressing gratitude at every step. He said, 'The biggest lesson is collaboration—hold on to your dream and collaborate.’

Marcus Samuelsson's story is more than being a chef. It is a narrative of overcoming challenges, exploring diverse cultures, and integrating diversity into American cuisine. He is also a testament to Ethiopians' excellence on the global stage.

Thanks for checking this out! To discover more insights from Chef Marcus, Click Here and enjoy the complete interview.

In 2023, Kubic secured the title of Global Startup of the Year, and its founder, Kidus Asfaw was also recognized among the top 100 people contributing to climate initiatives in Time Magazine.

Kidus Asfaw's journey began when he left Ethiopia after completing high school, aspiring to become a hydroelectric engineer. Despite studying electrical and biomedical engineering, he shifted his focus toward public policy.

Securing a position at the World Bank was a turning point for Kidus. This opportunity led him to UNICEF, where he contributed to projects centered on recycling plastic waste for producing building materials.

The heartbreaking landslide in 2017 claimed over 116 lives in Koshe, a landfill waste disposal location in Addis Ababa, inspiring Kidus to start Kubic. Later, while working at UNICEF, he became connected with less fortunate people living alongside the avenue. This experience instilled in him a profound sense of humanity, shaping Kubic's vision to prioritize dignity.

Kubic focuses on transforming plastic waste into low-cost construction materials like blocks, beams, and columns. Beyond offering an eco-friendly alternative to traditional construction materials, Kubic addresses pollution issues, aligning with a commitment to making a positive impact.

Building a Team

Fortuitously, Kidus and his co-founder, Penda, had the opportunity to collaborate on a UNICEF project. Originated from Africa, Penda and Kidus share not only a professional bond but also a common dream for their children—creating a better world for them.

Kidus underscores the crucial role of complementary skills between co-founders, with Penda excelling in technical aspects and accelerating the business aspects. This different expertise has proven instrumental in Kubic's success.

Kidus approached the recruitment process with a unique perspective, focusing on whether potential team members shared Kubic’s mission for Africa and the world at large. The critical consideration was the alignment of values, as a lack of shared hopefulness could pose significant challenges for startups and prove to be mentally taxing.

The Power of Persistence

The early days of Kidus were marked by challenges, starting with the detailed development of a pitch deck over two to three months. Kidus faced skepticism about starting a company in Ethiopia during wartime, and his startup was labeled as late, too early, and not scalable. However, he saw it as an opportunity to make a difference amid crises. Investors initially hesitated, but his persistence and strategic communication about Ethiopia along with showcasing successful startups operating here, captured investor's attention.

Kidus participated in over 800 investor meetings for fundraising, encountering numerous rejections before securing funding. But, he systematically turned rejections into a long-term relationship strategy by consistently updating investors who rejected him on his progress. His experience as a disciplined information tracker of metrics proved valuable. Ultimately, Kubic raised $3.34 million, with 92% from referrals, most of which were from investors who initially said NO.

Considering his experience, Kidus emphasizes the importance of startups addressing real problems and practicing effective communication. He advises aspiring entrepreneurs to embrace chaos as an opportunity to learn while persisting in the process. He enthusiastically shares what Steve Jobs once said: 'The only difference between me and them is I persevered, anyone could create an Apple computer or iPhone, but what makes the difference is I never lost hope.'

The Art of Storytelling

According to Kidus, storytelling is key to effectiveness. He highlights three crucial elements for better storytelling:

1. Understand why you're talking about that topic.

2. Do not try to convince people, talk about why you've convinced yourself.

3. Start by discussing the problem to captivate people's attention.

Kidus said, 'People inquire why they should listen to the speaker. As being genuine is challenging when you lack knowledge, it's best not to talk about the things you don't know well. If you have to fabricate your stories, it's better to shut down your business.'

Reflecting on his journey, Kidus would offer advice to his younger self to embrace the gift of learning and the importance of avoiding the pitfalls associated with rushing through life without allowing time for profound lessons.

Thank you for taking the time to read! To explore further insights from Kidus Asfaw, simply Click Here and enjoy the entire podcast.

Zelalem Woldemariam is a distinguished filmmaker with a marketing and sales background, who embarked on a transformative journey nearly two decades ago. Zelalem's story spreads out with the success of his award-winning film, "11th Hour," which is a testament to Zelalem's passion for storytelling while nurturing his entrepreneurial spirit.

Reflecting on its significance, Zelalem expressed that differently, if he were from the US or Europe, that film could have been an eye-opening educational project or a graduation film, as it marked his initiation into the world of learning filmmaking. But after his experience at the Cannes International Film Festival, he understood that he was on the first steps of filmmaking. This realization made him reevaluate his path, prompting a shift from filmmaking to production. The evolution progressed organically, guided by Zelalem's experiences, shaping Zeleman into becoming a hub for communication, advertising, and production.

Zeleman's Integrated Approach

Zeleman Communication, Advertising, and Production has become a reputable brand in Ethiopia's creative landscape. Zeleman is an integrated full-service agency with in-house capabilities, featuring a team of over 140 experienced creative communications professionals.

As Zelalem explains, these different departments form the core of Zeleman's operations:

• On-Point Research: Make the qualitative and quantitative research that drive insights from the clients, laying the foundation for strategic decisions.
• Strategy Development: Crafts strategies based on the distilled insights from the research.
• Creative Department: This department transforms abstract ideas into impactful expressions, showcasing Zeleman's creative brilliance.
• Buzz Digital: Manages online platforms and collaborates with influencers.
• Z Smart: Also known as Social Behavior Change & Communication, this department studies human behavior, and attitudes to ensure campaigns that resonate on a deeper level.
• Ignite: Taking the central stage during product launches, ignite orchestrates compelling narratives that captivate audiences.
• Media Shop: Excelling in astute media buying, ensuring strategic alignment and maximum impact on behalf of the clients.
• BTL 7 Senses: Addressing target audiences through 7 senses, including emotion and connection, to create an unforgettable experience.
• We Monitor: Tracking and analyzing advertisement effectiveness & optimizing campaigns for maximum impact.
• Support Department: Encompassing HR, Admin, IT, Legal, and Finance.

Together, these departments create a holistic ecosystem, each playing a unique and indispensable role. This integrated model propels Zeleman's Communication, Advertising, and Production into a league of its own.

Recruitment Philosophy

In Zeleman, recruitment is more about attitude and soft skills. The company gives an 80% weightage to attitude, underlining the importance of a positive and collaborative mindset. Research and references also play a crucial role in identifying individuals with the right soft skills, contributing to the unique culture within Zeleman.

The Dilemma of Balancing Creativity and Discipline 

Zelalem shed light on the creative industry's landscape, emphasizing its vast potential. Unlike industries requiring significant financial investments, the creative sector relies on ingenuity. He sees this as a distinctive feature, making it an attractive prospect for individuals with innovative minds.

Challenging the common belief, Zelalem firmly advocates that exceptional creative output can be achievable within a short time frame when guided by a well-defined process and a collaborative team. In the competitive landscape of the creative industry characterized by demanding clients and tight deadlines, Striking the right balance between creativity and discipline becomes crucial for navigating this fast-paced environment successfully.

Africa is the land of Opportunities

Zelalem envisions abundant opportunities in Africa, and Ethiopia urging individuals to focus on the positive aspects rather than dwelling on challenges. He enthusiastically shared what he said at a conference about Africa's opportunities: ' If you aren’t in Africa today, you will regret it after 5 years. Also, if you are in Africa today, you will regret it for the coming five years.’

His advice to budding entrepreneurs centers on readiness and effective use of resources. Beyond motivation, he stresses the importance of being prepared to act, leveraging available resources, and recognizing the value of human connection. He believes the greatest asset in the world is human being.

His advice to budding entrepreneurs revolves around readiness and effective resource utilization. Beyond motivation, he stresses the importance of being prepared to act, leveraging available resources, and recognizing the value of human connection. Zelalem's dedication in the early days of his career laid the core foundation for Zeleman. His belief in people as the most significant asset is evident in the support he received when establishing Zeleman.

Zelalem's words encourage a positive perspective on the future, emphasizing the potential for growth and the importance of seizing opportunities. He advises against solely focusing on challenges and being keen to see the dark side, there are a lot of opportunities to change our lives, country, and the continent. His forward-looking perspective aligns with the ever-evolving landscape of the creative industry. He emphasizes integrating smart technology like AI is crucial for enhancing creativity and efficiency.

Zelalem Woldemariam’s path with Zeleman showcases creativity, strategic thinking, and commitment to constant improvement. His insights present a guide for entrepreneurs, emphasizing the significance of preparedness, efficient resource usage, and an all-encompassing approach to business. The creative industry illuminated by Zeleman stands as a dynamic and promising arena for those with innovative minds to embrace opportunities.

Thanks for Reading! If you want to learn more from Mr. Zelalem, Click Here to watch our full interview.