VoxDev Development Economics S6 Ep19: Lovegrass Ethiopia: Building a business from the roots up
May 14, 2025
Yonas Alemu, the founder of Lovegrass Ethiopia, swapped a career in investment banking for entrepreneurship in his homeland, focusing on teff, a gluten-free grain. He discusses the vital role of local businesses in driving economic growth and challenges the stereotype of Africa’s reliance on aid. Yonas emphasizes the importance of investment in nurturing self-sufficiency and local heritage. He shares his journey from rural Ethiopia to the global stage, illustrating how education and personal ties spark innovation and community development.
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Rural Upbringing Shapes Perspective
- Yonas grew up in a rural Ethiopian farming village with a strong appreciation for education and love.
- His father was a respected literate farmer, and he has fond memories of rural life and cattle farming.
Leaving Banking to Build Ethiopia
- Yonas felt guilt working well-paid in banking while Ethiopia barely progressed.
- With his wife's support, he quit in 2016 to return and build a business in Ethiopia.
Teff Sparks Entrepreneurial Mission
- Yonas focused on teff, Ethiopia's staple grain, after discovering foreign patent issues.
- He founded Lovegrass Ethiopia aiming to build local manufacturing and fight malnutrition.