How this London banker built an Ethiopian food company
Investment-banker-turned-entrepreneur Yonas Alemu is the founder of Lovegrass, a food company making products from the Ethiopian super grain teff.
Interview with Yonas Alemu
MANAGING DIRECTOR AND FOUNDER, LOVEGRASS ETHIOPIA
Teff, a tiny grass seed native to Ethiopia, ranks among the world’s most ancient cultivated crops, having been domesticated between 6,000 and 4,000 BC. For thousands of years, Ethiopians have used teff flour to make ‘injera’, a flat, spongy sourdough bread that is a staple in their diets. Celebrated as a superfood, teff is gluten-free and rich in nutrients such as iron, magnesium, manganese, calcium, zinc, and vitamins B and C. Ethiopian elite runner Haile Gebrselassie has even credited teff as a factor in his athletic success.
Investment-banker-turned-entrepreneur Yonas Alemu is the founder and managing director of Lovegrass Ethiopia, a health food company making a variety of items from teff and other Ethiopian grains. Its products include pasta, breakfast cereal, pancake mixes, powdered beverages and snacks. Lovegrass has a factory on the outskirts of Addis Ababa and sells both internationally and within Ethiopia.
Jaco Maritz spoke with Yonas about his business journey.
Highlights from the interview include:
From farm to finance: Alemu’s remarkable journey from rural Ethiopia to an investment banker in London.
The big leap: Why he walked away from a lucrative banking career in the UK to launch a food company in his homeland.
Defying the odds: Returning to Ethiopia despite scepticism from his friends
Going international: How Lovegrass secured deals with major retailers like Ocado, Selfridges, and Whole Foods.
Manufacturing in Ethiopia: The advantages and challenges of producing locally.
Cracking the Ethiopian market: Strategies for tapping into Ethiopia’s 120 million-strong consumer base.
Lessons learned: What Yonas would do differently if given a chance to start his business again.
Watch the full in-depth interview below:
