Ten entrepreneurs reveal the ups and downs of building businesses. From turning coffee waste into oil products to digitizing traditional equb, they share how personal experiences, local problems, and ideas shaped their startups. Their toughest obstacles include lack of funding and skepticism from clients. They share the risks that paid off and their favourite books, writes HAGOS GEBREAMLAK, FORTUNE STAFF WRITER.
Bethelhem Dejene
Founder and CEO of Zafree Papers, producing tree-free paper pulp from agricultural waste.
Bethelhem Dejene was born in Saris and raised in Kotebe, Addis Abeba. She attended Hillside School and graduated in economics from Addis Abeba University.
What was your very first business idea – even if it failed?
I started with waste management, then moved to plastic recycling, and later, paper recycling.
What is the inspiration behind your startup?
As a university student, I saw piles of waste in Mercato’s Atkilt Tera. The environment was ugly, and I felt the need to take action. I researched waste management and launched a plastic recycling business, which led to paper recycling. I realised paper production harms forests.
What was the most difficult thing when you started your business?
Lack of experience and resources. I did not know who to consult or where to start. I just had an idea.
What is the most important quality or thing to be an entrepreneur?
Courage and discipline.
What is the most important thing you have learnt in your entrepreneurship journey?
Continuous learning is crucial. The more I learn, the more I realise how little I know.
What is the riskiest decision you made that surprisingly worked out?
Making paper from banana peels. It was risky because we lacked experience and didn’t know the quality outcome. Partnering with AB InBev was a gamble that paid off.
How do you define innovation in the context of your business?
We save trees by producing paper from bananas. Innovation is finding better ways to do things.
If you had to launch a completely different business tomorrow, what would it be?
Vegan leather or biodegradable plastic from banana peels. Alternatively, I’d launch an e-commerce platform.
Which book or film that you have read or watched did you like?
The 10X Rule by Grant Cardone. Favorite films include Super Pumped: The Battle For Uber, Breaking Bad, and Better Call Saul.
How do you spend your holiday?
I spend holidays with my family and visit my grandparents.
Nahim Ali
Founder of Bony Filter Material, producing animal feed and calcium phosphate from bone waste.
Nahim Ali was born in Adaba, Bale, and raised in Shashemene. He graduated in mechanical engineering from Jimma University in 2016. His company, launched in March 2022, started with 270,000 Br and now operates with two million Br in working capital.
What was your very first business idea – even if it failed?
An aluminum molding machine business.
What is the inspiration behind your startup?
While working for an NGO in fluoride water treatment, I saw the high demand and impact on local communities. This motivated me.
What was the most difficult thing when you started your business?
Acceptance. Chicken farms were hesitant to buy our product. Securing land was also difficult.
What is the most important quality or thing to be an entrepreneur?
Articulating your vision.
What is the most important thing you have learnt in your entrepreneurship journey?
The importance of communication.
What is the riskiest decision you made that surprisingly worked out?
Quitting my job and giving up a monthly salary.
How do you define innovation in the context of your business?
Adding value to existing resources.
If you had to launch a completely different business tomorrow, what would it be?
I’d manufacture machinery.
Which book or film that you have read or watched did you like?
How do you spend your holiday?
I spend holidays with my family.
Alemu Mekonnen
Founder and General Manager, producing supplementary food for patients with diabetes, cholesterol, sinus, asthma, and H. pylori.
Alemu Mekonnen was born in Gore, Oromia Regional State. He graduated in teacher training and later pursued laboratory profession training. He worked as a chemistry teacher and lab technician before starting his business in 2017. Alemu Supplementary Food launched with 9,200 Br and now operates with over 18 million Br.
What was your very first business idea – even if it failed?
I didn’t have any prior business ideas. I was a teacher before launching this company.
What is the inspiration behind your startup?
My father was a pharmacist, and I saw diabetic patients visiting his pharmacy daily. I wanted to create something to help them avoid lifelong medication.
What was the most difficult thing when you started your business?
Securing patents, finance, and working space.
What is the most important quality or thing to be an entrepreneur?
What is the most important thing you have learnt in your entrepreneurship journey?
There are many valuable tree varieties in Ethiopia that can be used for medicine.
What is the riskiest decision you made that surprisingly worked out?
Quitting my job and being jobless for seven years. I survived on support from friends and family, but it eventually paid off.
How do you define innovation in the context of your business?
Creating new supplementary foods and turning them into a business model.
If you had to launch a completely different business tomorrow, what would it be?
Medicine processing.
Which book or film that you have read or watched did you like?
Fikir Eske Meqabir by Haddis Alemayehu.
How do you spend your holiday?
I spend holidays with my family and friends.
Bemhreth Gezahegn
Founder and CEO of Gebeta Maps, a local map service provider.
Bemhreth Gezahegn was born in Dilla and raised in Addis Abeba. He graduated in software engineering and earned an MBA from Addis Abeba University. Gebeta Maps launched in 2022 with 12,000 Br and now has a working capital of 10 million Br.
What was your very first business idea – even if it failed?
A virtual kitchen platform similar to taxi-hailing services, but it required large capital and was abandoned.
What is the inspiration behind your startup?
There were no local businesses providing map services, so I aimed to replace Google Maps with a domestic product.
What was the most difficult thing when you started your business?
Gaining trust. Many thought we were reselling Google Maps services.
What is the most important quality or thing to be an entrepreneur?
Persistence.
What is the most important thing you have learnt in your entrepreneurship journey?
Focus on customer needs and improve gradually, rather than chasing perfection.
What is the riskiest decision you made that surprisingly worked out?
Starting Gebeta Maps and abandoning a more attractive project.
How do you define innovation in the context of your business?
Providing localised map services at lower prices, integrating geocoding, route optimisation, and directions.
If you had to launch a completely different business tomorrow, what would it be?
AI language models.
Which book or film that you have read or watched did you like?
Zero to One by Peter Thiel.
How do you spend your holiday?
I spend time with family.
Kibret Abebe
Founder and CEO, offering ambulance and emergency medical services.
Kibret Abebe was born in Addis Abeba and graduated in nursing from Jimma Science College. Tebita Ambulance launched in 2008 with 30,000 dollars.
What was your very first business idea – even if it failed?
This was my first business idea.
What is the inspiration behind your startup?
High road traffic injuries.
What was the most difficult thing when you started your business?
Financing. I had to sell my home to start the business.
What is the most important quality or thing to be an entrepreneur?
Finding purpose.
What is the most important thing you have learnt in your entrepreneurship journey?
The power of storytelling.
What is the riskiest decision you made that surprisingly worked out?
Selling my house to launch the business.
How do you define innovation in the context of your business?
Transforming emergency services into a sustainable business model.
If you had to launch a completely different business tomorrow, what would it be?
Photography.
Which book or film that you have read or watched did you like?
Yeteqolefebet Qulf by Mihret Debebe and The Blue Sweater by Jacqueline Novogratz.
How do you spend your holiday?
I spend holidays with family and neighbors.
Biruk Girma
Founder and CEO, connecting investors, entrepreneurs, advisors, and banks.
Founder and CEO, connecting investors, entrepreneurs, advisors, and banks.
Biruk Girma was born in Arjo, Wollega, and raised in Bonga and Wolkite. He graduated in mechanical engineering in 2016 and participated in BlueMoon’s entrepreneurship program. Sumuni launched in 2020 with 20,000 Br and has facilitated over 15 million Br in investments.
What was your very first business idea – even if it failed?
A poultry farm, followed by compost fertiliser manufacturing. Both failed.
What is the inspiration behind your startup?
I struggled to find financing and mentorship, so I created a platform to solve this problem.
What was the most difficult thing when you started your business?
Lack of finance and convincing investors.
What is the most important quality or thing to be an entrepreneur?
Critical thinking and persistence.
What is the most important thing you have learnt in your entrepreneurship journey?
Understanding the diverse interests of startup stakeholders – investors, entrepreneurs, and banks – is essential for success.
What is the riskiest decision you made that surprisingly worked out?
Partnering with Amhara Bank and PfC to provide loans up to one million Birr without collateral.
How do you define innovation in the context of your business?
Connecting the startup community through a social media platform.
If you had to launch a completely different business tomorrow, what would it be?
Fintech, insurance, or agriculture.
Which book or film that you have read or watched did you like?
Zero to One and Blue Ocean Strategy. Super Pumped: The Battle For Uber.
How do you spend your holiday?
I spend most holidays alone or with family.
Bisrat Fikru
Founder and CEO of Digital Equb Financial Technologies Plc
Launched in 2020, Digital Equb offers a digital equb (rotating savings and credit system) service. The platform has 30,000 active daily users and processes over five million Birr in daily transactions.
Bisrat was born in Addis Abeba and attended Lazarist Catholic Mission School. He graduated in communication technology from Addis Abeba University in 2016.
What was your very first business idea – even if it failed?
This is my first business, but I worked on a ride-hailing platform project for my university thesis.
What is the inspiration behind your startup?
My co-founder, Hailu Gebretsadik, shared the idea of a digital equb. We identified the flaws in the traditional system and decided to scale it digitally.
What was the most difficult thing when you started your business?
Lack of access to finance and trust from potential clients.
What is the most important quality or thing to be an entrepreneur?
Conviction. You have to believe in your idea. Doubting yourself leads to failure.
What is the most important thing you have learnt in your entrepreneurship journey?
The importance of teamwork. Even the best ideas fail without a strong team.
What is the riskiest decision you made that surprisingly worked out?
We refused to accept cash payments early on, even when clients requested it. It was risky, but going fully cashless made our service more efficient.
How do you define innovation in the context of your business?
Digitising equb to solve issues in the traditional system.
If you had to launch a completely different business tomorrow, what would it be?
I would launch an ecommerce platform.
Which book or film that you have read or watched did you like?
Zero to One by Peter Thiel. The Pursuit of Happyness, Jobs, and The Social Network.
How do you spend your holiday?
I spend holidays with family and relatives.
Almaw Molla
Founder and CEO of Coffee Resurrect
Launched in 2021, the startup upcycles coffee waste into products like coffee oil, flour, and fiber for personal care and food.
Almaw was born in Arat Killo, Addis Abeba, and attended Haramaya and Dire Dawa universities
What was your very first business idea – even if it failed?
A call center proposal that didn’t materialise.
What is the inspiration behind your startup?
Coffee waste is damaging the environment. I wanted to turn it into something beneficial.
What was the most difficult thing when you started your business?
Lack of expertise and mentorship in the field.
What is the most important quality or thing to be an entrepreneur?
Continuous learning, persistence, and not fearing failure.
What is the most important thing you have learnt in your entrepreneurship journey?
Leadership isn’t as difficult as it seems.
What is the riskiest decision you made that surprisingly worked out?
Mentoring aspiring entrepreneurs and investing time in others. It has paid off.
How do you define innovation in the context of your business?
Creating high-value products from waste, reducing environmental harm.
If you had to launch a completely different business tomorrow, what would it be?
Leather, cotton, or tourism ventures.
Which book or film that you have read or watched did you like?
The Apple Revolution by Luke Dormehl.
How do you spend your holiday?
I spend holidays with family.
Hasna Idris
Founder and CEO of Aras Package Plc
Launched with 300,000 Br, the company offers maternity care services, including food, health treatments, beauty care, and home decoration for new mothers.
Hasna was born and raised in Addis Abeba and attended school in Addis Ketema. She dropped out of college and moved to Turkey before returning to Ethiopia to start her business.
What was your very first business idea – even if it failed?
An event management company, but it didn’t work out.
What is the inspiration behind your startup?
My difficult childbirth experience motivated me to create a service to help other mothers.
What was the most difficult thing when you started your business?
Convincing my family, clients, and creditors about the idea.
What is the most important quality or thing to be an entrepreneur?
Perseverance.
What is the most important thing you have learnt in your entrepreneurship journey?
Endurance is essential to success.
What is the riskiest decision you made that surprisingly worked out?
Leaving my life in Turkey to return and start the business.
How do you define innovation in the context of your business?
This is the first maternity care service of its kind in Ethiopia.
If you had to launch a completely different business tomorrow, what would it be?
An ambulance service dedicated to pregnant women and new mothers.
Which book or film that you have read or watched did you like?
I enjoy Turkish TV series.
How do you spend your holiday?
I spend holidays with my family.
Leykun Yilma
Co-founder and Operations Manager
Tuba Books, launched in 2022, provides ebooks and audiobooks with over 150,000 application downloads and 10,000 sales.
Leykun was born in the capital and graduated in software engineering from Addis Abeba University.
What was your very first business idea – even if it failed?
This was my first.
What is the inspiration behind your startup?
Seeing books sold on the streets in Piassa made me realise the need for digital access to literature.
What was the most difficult thing when you started your business?
Convincing authors to trust the platform.
What is the most important quality or thing to be an entrepreneur?
Perseverance and patience. Entrepreneurship is a marathon.
What is the most important thing you have learnt in your entrepreneurship journey?
Marketing is as important as product quality.
What is the riskiest decision you made that surprisingly worked out?
Starting the business itself, despite family expectations to follow traditional business paths.
How do you define innovation in the context of your business?
Offering books in digital formats, making them more accessible and affordable.
If you had to launch a completely different business tomorrow, what would it be?
Another tech startup.
Which book or film that you have read or watched did you like?
Zero to One by Peter Thiel.
How do you spend your holiday?
I spend holidays with family.
PUBLISHED ON
Jan 05,2025 [ VOL
25 , NO
1288]
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