A PRAGMATIC APPROACH TO ASSIST

VIBRANT COMPANIESPOSITION THEMSELVES FOR GROWTH

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Company Profile

Pragma Investment Advisory is a boutique business and financial advisory firm with a primary focus on developing strategic entry and growth planning for individuals and companies demonstrating investment interest in Ethiopia. Our firm is run by principal advisors who have established strategic alliances with highly-qualified consultants whose professional backgrounds range from working for some of the big 6 financial advisory firms to Emerging Market-focused private equity companies. Our consultants are deployed on a project-by-project basis to ensure each assignment is carried out with the involvement of industry specialists synergically positioned to deliver the best results, ultimately allowing the client to make well-informed decisions.

Professional services include:

Market Entry Strategy

Transaction Advisory

Events & Training

WHO WE ARE

VISIONVALUES

MISSION

OUR VISIONTo become a leading business and investment advisory firm that clearly understands the client’s needs, develops tailored solutions, and makes a positive economic impact in Ethiopia and other Frontier & Emerging Markets.

OUR MISSIONPromoting private sector-led growth in Ethiopia by providing high-quality and pragmatic advisory services so clients can achieve their highest potential and realize their vision.

Our Core Values constitute the Five Hs:

• Honesty• Humility• Human-to-Human• High-quality• Hard Work

Why Us?

Our Solutions

Market Entry Strategy

Equipped with a grassroots-level proficiency of the Ethiopian investment climate, our advisory team will help you develop a strong understanding of investment opportunities in the country, build a clear road map for your proposed venture, and render hand-holding solutions as guidance towards smooth commercial implementation.

Deal Sourcing and Execution

Our advisors are equipped with indispensable financial and negotiation skills to help investors identify business opportunities, quantify the value of the proposed target, recognize the risks it may present, represent your interests in term negotiation junctures, and effectively close deals.

Due Diligence

We help you minimize conceivable investment risks by carrying out a comprehensive investigation of a potential investment to confirm all facts (be they financial, legal, commercial, operational, or technological).

Research & Analytics

This new line envisages to deliver up-to-date, exhaustive and dependable data-driven analysis of economies, policies, and markets, and produce reports highlighting our findings. The first issue is expected to be published by June 1st, 2020.

MERED FIKREYOHANNES, CM, CIPM[ MANAGING PARTNER & PRINCIPAL ADVISOR ]

+251 920 722 281mered.besrat@pragma-advisory.com

Mered is a Managing Partner and Principal Advisor at Pragma Investment Advisory PLC.He is a Certified Manager (earned from James Madison University in Harrisonburg,Virginia) and a Certified International Project Manager. He has extensive experience asan advisor for investors engaged in the manufacturing sector in Ethiopia. He consultscompanies on how to establish manufacturing plants of all sizes throughout the entirevalue chain, including pre-construction and post-construction phases until production.He has also worked as country representative of an Australian company engaged in theproduction & distribution of LED lights. Moreover, Mered was employed at theEthiopian Ministry of Foreign Affairs as a Business Diplomacy expert by representingthe Ministry to establish investment and trade relations between foreign investors andvarious Government bodies.He holds a Bachelor of Arts Degree in Business Administration from Lincoln University(Oakland, California) and a Bachelor of Arts Degree in Governance & DevelopmentalStudies from Jimma University (Ethiopia).

Kalid is a Managing Partner and Principal Advisor at Pragma Investment AdvisoryPLC. He was recently part of the Advisory Services team at Grant Thornton, oneof the big 5 U.K. based financial advisory firms in the world, where he assumedresponsibilities in Business Development and Transaction Advisory activities. Hehas actively contributed to due diligence, market assessment, high-level researchand client engagement duties. Kalid has also accumulated more than 5 years ofmanagement experience in the Ethiopian Real Estate industry where he wasdeputy head of Operations in a real estate development company. During hissuccessful internship tenure at Ernst & Young, one of the big 4 financial advisoryfirms, he has amassed expertise in industry analysis, market study, and datacollection.Kalid holds a Bachelor of Arts Degree in Business Administration from LincolnUniversity in Oakland, California, and an Advanced Diploma in Business fromCentennial College, Toronto, Canada.

KALID MAWI[ MANAGING PARTNER & PRINCIPAL ADVISOR ]

+251 929 092 161kalid.mawi@pragma-advisory.com

ADDIS ALEMAYEHOU[ CHAIRMAN AND ADVISORY BOARD ]

Addis is the founder and CEO of 251 Communications, an Addis Ababa-based public relations firm and a co-founder of KANA TV, an Ethiopianentertainment, free-to-air satellite channel broadcast exclusively in Amharic. Addis is also a Senior Advisor at Albright Stonebridge Group, where he useshis expertise in telecommunications to support client engagements across East Africa.Previously, Addis served as Chief of Party of USAID’s Volunteers for Economic Growth Alliance (VEGA) Ethiopia Program which promoted increased two-way trade between the United States and Ethiopia under the African Growth and Opportunities Act (AGOA). For his efforts with this program he wasawarded a Distinguished Service Award from the U.S. Department of State.He serves on the board of Brand Africa, a pan-African intergenerational movement that aims to create a positive image of Africa, celebrating its diversityand inspiring its competitiveness. He also serves on the board of the African Leadership Network.

Pragma Investment Advisory provides dynamic transaction advisory solutions for projects ranging from greenfield investments to expansionary ventures at any stage of the transaction process.

Our team of consultants are endowed with the indispensable qualifications to develop a firm understanding of the client’s needs and provide rigorously tailored solutions.

Transaction advisory services include:

• Financial Due Diligence• Financial Modeling• Feasibility Studies and Market Assessment• Business Plan Development• Business Valuation• Environmental Impact Assessment• Strategy Design• Value Chain Analysis• Deal Sourcing and Capital Raising• Project Financing Advisory• Project Management• Research & Analytics

TRANSACTION ADVISORY SERVICES (TAS)

Pragma Events, our new event management wing, is established to instigate a culture of idea sharing by organizing corporate and networking events that bring together business and political leaders, financiers, economists, journalists and other industry experts to discuss the most pressing and timely issues facing the country, the continent, and the world at large.

The company also holds training sessions, inclusive of workshops and seminars, geared towards skill enhancement and improved industry & policy awareness with a coverage of a wide array of subject matters.

Corporate & Networking Events

Trade Fairs Training

TRAINING

PANELDISCUSSIONS

EXPOS

B2B EVENTS

INTERVIEWS WORKSHOPS

SEMINARS

NETWORKING

PRAGMA EVENTS

On April 23rd (2020) , Pragma Investment Advisory and 251 Communications jointly launched the first all-English business-focused radio show (on Afro FM 105.3) and digital podcast in Ethiopia. Labelled ‘Addis Business Talk’, the show conducts interviews with individuals of significant influence by covering the most timely and pressing issues revolving around the areas of business and economic policy in Ethiopia and the rest of Africa, and is hosted by KalidMawi and Mered Besrat, Managing Partners at Pragma Investment Advisory.

Business Radio Show & Podcast

The show has garnered over 1,000 plays online, has become a source of reference for media outlets, and has so far accommodated distinguished guests as listed below:• H.E. Dr. Eyob Tekalign Tolina, State Minister of the FDRE’s Ministry of Finance• H.E. Ato Abebe Abebayehu, Commissioner at the Ethiopian Investment Commission• Rebecca Araya, General Manager of the American Chamber of Commerce in Ethiopia• Mr. Antoine Chevrier, Canadian Ambassador to Ethiopia and Djibouti

With Kalid & Mered every Thursday morning from 7:30 to 8:30 on Afro FM 105.3

Client/Project

Name

Industry Solutions Role

Project Dough Food &

Beverage

Offering Memorandum, Due

Diligence, and Fundraising.

Conducted operational, commercial and financial due diligence for

a prominent and indigenous pizzeria chain in Ethiopia. As part of its

expansion strategy, Pragma is finalizing a comprehensive Offering

Memorandum for private capital injection under the request of a

prominent African private equity firm.

Project Crystalline Food

processing

Marketable Report and

Commercial Due Diligence

Conducted commercial due diligence of 13 sugar factories as part

of Pragma’s engagement in developing a marketable profile report

for a state-owned sugar company. The report was deemed

necessary in furthering the government’s initiative to privatize the

sugar industry and attract private investment.

Project Nylon Textile Deal Structuring, Capital

Raising and Investment

Management

Structured a successful fundraising deal for a newly established

socks manufacturer in the city of Bahir Dar. The scope of

engagement involves: feasibility study reviews and updates,

financial modeling and analysis, facilitation of lease financing

proceedings from a leading development bank, and formalizing

legal documentation for shareholder agreement. Pragma

represents the interest of a network of angel investors throughout

this project and owns minority stake in the business.

Some of our credentials…

Client/Project

Name

Industry Solutions Role

Project Nexus Agro-Power Preliminary Market

Assessment, and

Relationship Management

Tasked to conduct introductory market assessment on the intersections

between agriculture and energy provision in Ethiopia under the request of

a prominent global strategy firm based in Washington D.C. where end

client was the Rockefeller Foundation. Pragma also assisted in

administering/coordinating meetings with key government stakeholders

to further the Foundation’s engagements.

Project Match Sports Betting Market Assessment and

Entry Strategy

Assigned by one of the largest global online betting companies to conduct

market assessment and entry strategy to Ethiopia’s growing sports betting

industry. The scope of work included regulatory reviews, competitive

analysis of all 33 (at the time) sports betting shops in the country,

sourcing for potential JV partnerships, and recommendations for route-to-

market.

Project Towers Telecom Market Assessment, Team

Recruitment and

contributions to Financial

Modelling

Contracted by a Nigeria-based leading telecom infrastructure company to

conduct market research and entry assessment, including a full-on

commercial due diligence of EthioTelecom, at the time a monopoly state-

owned telecommunications corporation in Ethiopia. As a builder of

telecom tower infrastructure, the client required recruitment of

engineers and radio frequency planners, with which Pragma was of

assistance. Pragma has also provided key financial input, after a thorough

sector analysis, for the client’s finance team to compile a workable model.

Our CredentialsSome of our credentials…

Client/Project

Name

Industry Solutions Role

Project Flask Glass Project Management,

Market Research and Land

Acquisition

Carried out project management services over a 2 year period

ranging from market research to land acquisition and legal

contract handling for a greenfield investment in Ethiopia. The

promoter is a leading glass bottle manufacturer in East Africa and

based in Nairobi, Kenya. The scope of work included coordination

of activities between architects and engineers, carryout value

chain analysis and sourcing debt financing from local banks.

Project Red Food &

Beverage

Feasibility Study, Market

Research and Project

Management

Engaged in preparation of bankable feasibility study and market

research for the establishment of a tomato processing plant in

Ethiopia. The scope of work included the identification and forging

of development/funding partnerships and provision of technical

expertise with the involvement of Unilever and the Agricultural

Transformation Agency (a government think-thank)

Project Infra Telecom Market Entry Strategy and

Project Management

Advised on market entry strategy planning and formulated a

practical intervention plan for a UK-based telecommunications

infrastructure provider. The engagement included privatization

policy reviews, involvement in consultation programs with

regulators, developing business relationships with large mobile

operators, and recruiting a team of radio frequency planners and

telecom tower builders. Pragma is also an equity partner in this

venture.

Some of our credentials…

Client/Project

Name

Industry Solutions Role

Project Promo Media Commercial and Financial

Due diligence

Conducted commercial and financial due diligence for a top tier

advertising and promotion company in Ethiopia as part of its

expansion strategy to carve out the business of billboard printing

and mounting. Pragma is assigned by an investor team from

Nigeria, the US and Ethiopia to present an investment case.

Project Fintech Technology

& Finance

Market Assessment,

Financial Modeling, Pitch

Documents

Assigned by a rising fintech startup to conduct market assessment

on the viability of introducing a credit-rating service levered with

algorithmic technology in Ethiopia. The first step towards

commercialization is the implementation of cloud-based credit

background assessment and rating software for micro-finance

institutions and savings & credit cooperatives. Pragma has also

conducted financial analysis and projections using a sensitivity

analysis approach.

Project Leather Textile &

Leather

Financial Modeling and

Management Consulting

Pragma has provided internal operations turn-around consulting

services to a an up-and-coming leather accessory manufacturer. As

part of the company’s dire need of financing to revamp its

operations and meet growing demands, Pragma has produced a

comprehensive financial model and provided training on effective

cost accounting procedures to the finance team.

Our CredentialsSome of our credentials…

Clients & Partners we can mention…

Effoi Pizzeria

CONTACT US

Pragma Investment Advisory

Aster Plaza - 3rd FloorGabon StreetAddis Ababa

Ethiopia

T +251 929-09-21-61T2 +251 920-72-22-81

E-mail info@pragma-advisory.comwww.pragma-advisory.com