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Devin: What is your superpower?
Meseret: Persistence.
Ethiopia is on the cusp of an entrepreneurial revolution, and Ignite Investment is leading the charge. Founded by Meseret Warner, Ignite Investment has taken on the ambitious task of enabling equity crowdfunding in Ethiopia, a country where capital markets had been almost non-existent until recently. In today’s episode, Meseret shared how her platform is connecting Ethiopia’s burgeoning entrepreneurs with the African diaspora to overcome geographic and financial barriers.
“Ethiopia never had capital markets in the country,” Meseret explained. “But now we have a new proclamation in 2021... and equity investment crowdfunding is one of them.” This regulatory breakthrough has allowed Ignite Investment to operate in Ethiopia under a sandbox model, enabling the platform to test innovative financial systems while adhering to local laws.
What makes Ignite Investment’s approach unique is its focus on the African diaspora. Every year, billions of dollars flow from the diaspora back to the African continent, primarily as remittances. Meseret has created a mechanism to transform these funds into equity investments that support Ethiopian entrepreneurs. “Our target market is the African diaspora that sends billions and billions of dollars… as remittances and even investment,” she said.
One of Ignite’s recent successes is a rideshare company addressing the transportation challenges in Addis Ababa. This venture, which connects commuters with a network of minibus drivers through an Uber-like system, has nearly closed its fundraising round thanks to Ignite’s platform. Meseret revealed, “They could have been oversubscribed because there are a lot more people interested to see them.”
This is no small feat. Meseret’s persistence has helped Ignite Investment craft partnerships with organizations like Zemen Bank and the African Development Bank, facilitating cross-border investments and providing vital financial infrastructure. Her team’s partnership with GIZ, the German development agency, also helps local companies become more attractive to investors by improving transparency and governance.
Ignite Investment is more than just a crowdfunding platform; it is a bridge between Ethiopia’s untapped innovation and the global capital it needs to thrive. Meseret’s vision extends beyond her home country, with plans to expand into other African nations.
For investors in the diaspora and beyond, Ignite Investment offers an unprecedented opportunity to support impactful businesses while earning financial returns. Meseret’s work is a testament to the power of persistence, innovation, and a belief in the potential of African entrepreneurs.
tl;dr:
Ethiopia’s regulatory progress enabled Ignite Investment to launch equity crowdfunding under a sandbox model.
Meseret Warner connects diaspora wealth with Ethiopian entrepreneurs, fostering impactful investments across borders.
Ignite’s partnerships with Zemen Bank, GIZ, and the African Development Bank strengthen its financial infrastructure.
A rideshare company solving Addis Ababa’s transportation issues exemplifies Ignite’s successful ventures.
Meseret’s persistence has been key to overcoming challenges and scaling Ignite Investment’s mission to other African nations.
How to Develop Persistence As a Superpower
Meseret defines her superpower as persistence, a trait she’s relied on during her 11-year journey to build Ignite Investment. She shared that overcoming regulatory hurdles and scaling an innovative platform in Ethiopia required unwavering determination. “Every year, I tell my husband, next year is my year… and then, of course, it doesn’t happen. But I always see the light at the end of the tunnel,” she said. Persistence, combined with resourcefulness and partnerships, has been key to her success.
Meseret recounted how her persistence helped her navigate Ethiopia’s regulatory bottlenecks to establish equity crowdfunding. Ethiopia lacked a formal capital market, but Meseret engaged with regulators, participated in public consultations, and leveraged partnerships to secure a spot in the regulatory sandbox. After six years of groundwork, Ignite Investment is now operational, connecting diaspora investors with local entrepreneurs.
Tips for Developing Persistence:
Focus on the Big Picture: Identify a solution you believe in and let it guide your actions.
Celebrate Small Wins: Acknowledge progress, even if it’s incremental, to maintain motivation.
Step Back Strategically: When facing challenges, reassess your approach and look for alternative solutions.
Leverage Partnerships: Collaborate with individuals and organizations to solve specific challenges.
Stay Resourceful: Continuously tap into your network to find answers and support.
By following Meseret’s example and advice, you can make persistence a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.
Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!
Guest Profile
Meseret Warner (she/her):
Founder and Managing Director, Ignite Investment
About Ignite Investment: Ignite Investment is Ethiopia’s First and Africa’s Unique Equity Crowdfunding Platform to Unlock funding, grow businesses, transform economies and impact millions by connecting African entrepreneurs with equity investors from the diaspora and beyond.
Website: igniteinvestment.com
X/Twitter Handle: @ignitecrowd
Company Facebook Page: facebook.com/IgniteFunders
Other URL: youtube.com/watch?v=1on6Z4bAZPM&t=30s, instagram.com/ignitecrowdfunder
Biographical Information: Meseret Warner – Founder and CEO of Ignite Investment, Ethiopia’s first and Africa’s few equity crowdfunding platform for facilitating financing for African SMEs and startups focusing on the over 80 Billion USD remittances the African diaspora sends to the continent every year. Meseret has more than twenty years of extensive global professional experience in various sectors such as technology, advisory services, facilitating investment, Business Development Services (BDS), manufacturing, and MICE among others. She has been working with both small and large clients ranging from Ethiopian businesses seeking capital investments and support to grow their businesses to international investors looking for local investment opportunities. Recently, Meseret facilitated only the second FDI in the logistics sector in Ethiopia. A multi-million joint venture partnership between a leading logistics company in Ethiopia MACCFA Freight Logistics and CEVA Logistics - a global logistics and supply chain company in both freight management and contract logistics with US$7 billion in revenues.
Past high profile projects include successfully raising over $5 million for the Addis Africa International Convention and Exhibition Center Share Company public private project including a reorganization of the company.
Meseret is the former President of the African Women Entrepreneur Program (AWEP), Ethiopia chapter. She is currently the women economic empowerment technical advisor to the “Strengthening the Business Development Service Market in Ethiopia” project implemented by GOPA worldwide consultants and funded by GIZ. In addition, she advises Shegerhive business and tech hub, an entrepreneurship supportive ecosystem and accelerator that provides businesses as well as individuals a conducive environment to foster growth through enabling services and platforms. Meseret is an entrepreneur with a background in IT, economics, and globalization; and holds an undergraduate degree in Computer Science and Mathematics as well as a master’s in Globalization and Development.
X/Twitter Handle: @IgniteInvest
Instagram Handle: @meseretwarner
Personal Facebook Profile: facebook.com/meseret.mamo.5
LinkedIn Profile: linkedin.com/in/meseret-warner-57195116
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