Born in Dire Dawa, in eastern Ethiopia, and raised in the Netherlands, Kanessa Muluneh is a dynamic Ethio-Dutch entrepreneur and self-made investor.
Currently, residing in the United Arab Emirates, Kanessa has built a wide-ranging investment and business portfolio across various sectors like fashion, technology, fitness, real estate, and agriculture.
Her vigorous business endeavors and active engagement in the global business landscape, mainly in Web3 and block-chain, have enabled her to be a prominent figure in international business circles and made a name for herself.
As a successful entrepreneur, Kanessa is now turning her focus back to Africa, driven to reshape global perceptions of the continent. Her goal is to challenge and transform the outdated narratives that have long defined Africa on the world stage, spotlighting the continent's rich history and heritage.
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In line with this vision, she launched 'Rise of Fearless' in 2025, a groundbreaking Web3 mobile game designed to elevate African storytelling within gaming industry.
Inspired by Ethiopia's victory over the Italian forces at the Battle of Adwa in 1896, the 'Rise of Fearless' game blends rich cultural narratives with the dynamic battle royale genre.
'Rise of Fearless' not only offers players an immersive experience rooted in African history but also empowering them with true ownership of in-game assets like weapons and skins through block-chain technology.
Drawing her investment and entrepreneur journey, as well as her international experience, The Ethiopian Herald had a short stay with Kanessa Muluneh to gain her insights on Ethiopia's business climate, untapped sectors, challenges, and the need for creating sustainable ventures to drive economic growth and employment.
Enjoy reading!
How would you describe Ethiopia's current business environment? Do you believe it is favorable for investment?
Ethiopia is an incredible landscape for investment. It offers ample opportunities, and we're seeing a rise in fresh, innovative ideas across various sectors, especially within women-owned businesses. Compared to a few years ago, there's a noticeable shift, more people are regaining hope and confidence in the country's potential.
Of course, it's important to recognize that opportunity often comes in challenging environments. While that may sound harsh, it's a reality in the world of investment, where there's disruption, there's also room for transformation.
That said, the legal and regulatory framework still needs development. Investor protection isn't yet at the level we'd like it to be, and navigating the legal environment can be slow. However, the government is clearly making efforts to improve the situation. Progress might not be as fast as we'd hope, but it's moving in the right direction. With patience, I strongly believe Ethiopia holds a promising future for investors and entrepreneurs alike.
What major opportunities do you see for entrepreneurship in Ethiopia?
I believe the future is bright for Ethiopian entrepreneurs. But to truly thrive, we must broaden our vision beyond what we know today. There is so much untapped potential, not just within Ethiopia, but across the African continent. Why limit ourselves to local markets when Africa offers such a rich landscape for continental trade and collaboration?
We have the talent, resources, and drive to build and scale businesses across Africa. But to do that, we must shift our way of thinking. It's time to stop viewing opportunities through a narrow or emotional lens and start approaching with a clear, strategic, and business minded perspective.
In Ethiopia, I see promising progress. Entrepreneurs are becoming more focused, informed, and increasingly driven by innovation. However, cultural barriers still hold us back at times, traditions that discourage risk taking or limit long term thinking. To move forward, we must challenge these limitations and adopt a broader, more global approach to entrepreneurship.
If we don't act now, others will step in and do it for us. The time to gain experience is now. The time to prepare is now. And very soon, the time to execute will be there. Ethiopian entrepreneurs have what it takes, the key is to think big, think smart, and think beyond.
As an Ethiopian entrepreneur, which sectors or industries are you most interested in investing in, and why?
For me, the most compelling opportunity lies in Africa's resources. For too long, these resources have primarily benefited foreign interests. I believe it's time to shift that and take ownership of what rightfully belongs to us. Why not invest in our own land, and wealth?
Africa is rich beyond measure- from agriculture to minerals. Whether it's what we grow, coffee, grains, cotton or what lies beneath, gold, oil, and other valuable minerals. These resources are the foundation of our wealth. We don't need to look far.
That's why I'm especially drawn to resource based industries. They are not only essential to global trade but also key to building sustainable local economies. Instead of raw materials, we should be exporting with value, ensuring that the benefits stay within our borders.
Beyond resources, I'm also interested in sectors that never go out of style, real estate, import - export, and skilled labor. When I talk about real estate, I don't mean just buying and selling homes, but investing in quality construction, plumbing, electrical work, craftsmanship. These are services that people will always need, no matter how the economy evolves.
Too often, entrepreneurs chase the next big tech idea, aiming to be 'the first' at something. But there's value in being the tenth, if you can outperform the first nine. If everyone rushes to tech and forgets skilled trades, that gap becomes your competitive advantage. Fewer competitors mean higher demand, and higher demand can drive higher value.
For Africa to grow, we must invest smartly, take ownership of our assets, and build industries that truly serve our people.
How do you assess the government's job creation efforts, and what role do you see yourself playing in this initiative?
I believe the Ethiopian government's efforts deserve recognition. Leading such a large and diverse country is no easy task. Ethiopia is home to many cultures, regions, and communities, each with its own unique needs and challenges. It's difficult to address everyone's needs equally, but I do think the government is making steady progress and heading in the right direction.
Not every policy or initiative works immediately or yields perfect results; sometimes the approach may miss the mark. But as with any complex system, governance involves a great deal of trial and error. What's important is the intent; and from what I see, the intent is constructive.
Personally, I haven't yet engaged directly with the government, though I recognize that may change in the future. At this stage, I focus on my own path, which, in principle, aligns with the broader national goals, particularly job creation. That's where I believe real impact begins.
My approach may differ from that of the government, but our objectives are similar. I'm open to collaboration down the line, should our paths naturally cross. For now, I prefer to stay focused, avoid unnecessary complications, and continue contributing in the way I know best. In that sense, I believe we're both playing our part.
What major challenges have you encountered while starting or running a business in Ethiopia, and how have you overcome them?
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One of the biggest challenges in Ethiopia is navigating the legal environment. Accessing the right guidance and finding professionals with the necessary expertise is more challenging. In fact, I believe one of the broader challenges across many parts of Africa is the accessibility of reliable knowledge.
Once you have the right information, everything else becomes more manageable. From there, it's a matter of building the right network. While communication and making connections aren't necessarily difficult, finding the right people, those who truly understand the landscape; and can help you move forward, is the real challenge.
What advice would you give to young Ethiopians who aspire to become entrepreneurs?
My advice to young Ethiopians and Africans is to dream big first, then work backwards. Start with a clear vision of where you want to go, and then map out the steps you need to take to get there.
In business, unlike in personal life, the goal is not emotional support, it is results. In your personal life, you may seek love, encouragement, or validation from those around you. But in business, the focus is on creating value and generating income. That means surrounding yourself with people who share your mindset and can help move your vision forward.
The truth is, those people may not currently be in your immediate circle, and that's okay. What matters is that you identify what you need to achieve your dream and begin building, step by step.
Success is rarely overnight. While it's great if it happens quickly, real success results from consistent effort over time. Focus on the long term journey; lay a solid foundation, be patient, and keep going. In the end, it's the sustained commitment that delivers the strongest and most sustainable results.
Thank you very much!
Thank you!
