Can She Do It? Kanessa Muluneh is Determined to Repeat Her European Success in Ethiopia
By Mintesinot Nigussie
Published on 09/01/25
As Ethiopia starts to allow foreign banks and investors to participate in the economy, diasporas have also been paying attention to changes in the investment rules. One person who is at the right time and the right place is Kanessa Muluneh, an Ethiopian-Dutch serial entrepreneur and impact investor, who is reshaping Africa’s digital landscape from Dubai. Born in Dire Dawa, Ethiopia, she immigrated to the Netherlands at the age of three with her parents, seeking refuge from the civil war that ravaged their homeland. This early experience of displacement profoundly influenced her worldview, blending African heritage with global perspectives.
From her teenage years, Muluneh demonstrated a knack for turning gaps into opportunities. She built ventures spanning fashion, sports, and now digital innovation. Among them, MULU, a multimillion-dollar plus-size lifestyle brand, emerges as a living mosaic—born from her own struggles to find gym wear that fit, it now empowers others to embrace style without compromise.
By 21, Muluneh had already made her mark, successfully launching and divesting a medical tech business in the Netherlands for $500,000. “Growing up in Ethiopia shaped me, both personally and professionally,” she said. “The older Dutch generation impressed me with their determination, work ethic, and commitment to quality—lessons I carry in my own life.” Her upbringing instilled a career-driven mindset and the confidence to thrive as a woman in business, laying the groundwork for what was to come next.
Now, Muluneh is back in Ethiopia with ambitions reaching far beyond national borders, using the country as a gateway to Africa. Her goal is to empower local talent, bridge knowledge gaps, and create opportunities across the continent. “Europe has abundant knowledge but often lacks manpower, while Africa has human potential but limited access to expertise. My mission is to bring back what I’ve learned to empower people and create opportunities across Africa,” Muluneh told FSX Business.
Her boldest move yet is Rise of Fearless, a pan-African mobile game launched in April 2025. Inspired by Ethiopia’s historic victory at the Battle of Adwa in 1896, the game blends battle royale action with African storytelling. Players team up, fight enemy ranks with local weapons, and compete on leaderboards. “When we took the game on a press tour in Johannesburg and later promoted it in Kenya, people in other parts of East and Southern Africa really connected with it. They saw themselves in the story and felt proud to be part of that shared history,” Muluneh said.
Rise of Fearless also aims to advance Africa’s digital economy. Muluneh plans to integrate blockchain technology in the future, allowing players to earn game-based non-fungible token (NFT) collectibles they could buy, hold, or sell—creating a digital ecosystem with potential financial opportunities. Adding to the credibility of the project, the developers behind Axie Infinity, the world’s most popular play-to-earn game, are also part of the team building Rise of Fearless. “By doing so, Rise of Fearless could start the growth of an entirely new ecosystem within the continent, one where gaming becomes a driver of creativity, technology, and opportunity for Africa’s youth,” Muluneh added.
Muluneh sees Africa’s digital scene on the edge of something big. She points out that the younger generation is diving into tech fast, accessing the same platforms as the West. “This levels the playing field and gives Africa a real shot at leading in digital adoption and innovation,” she said. “With its huge young population, the continent’s scale, adaptability, and drive are set to shake up business and even influence global markets.”
Still, Muluneh says mindset remains one of the continent’s biggest hurdles. While the word often gets a negative spin online, she insists it reflects a real challenge. Many ways of thinking are stuck in outdated patterns, out of step with rapid economic and technological change. Judgments, assumptions, and approaches to opportunity often lag behind. Africa hasn’t had enough guidance to help shift these perspectives, she adds.
After years of juggling, designing, and running businesses across different sectors, Muluneh has now decided to narrow her focus. She is concentrating on investing in productive sectors while keeping her hands in just two ventures: Rise of Fearless, her pan-African mobile game, and MULU, a lifestyle brand that also includes Europe’s first female American football league—a multimillion-dollar plus-size lifestyle venture. As an entrepreneur, Muluneh has a knack for spotting gaps and turning them into opportunities. By the time she hit her 30s, she had launched six businesses and sold four of them for a combined total of over $9.5 million, spanning tech, fashion, and sports.
“Nowadays, I think of myself more as an investor than a business builder. I used to be more hands-on,” Muluneh said. “But I’m still very involved, both as an investor and as a CEO.” Her focus now is on traditional sectors like mining, agriculture, manufacturing, and real estate. “And when I talk about real estate, I mean the companies that build the foundations for construction and housing, not just the finished projects,” she told FSX Business. Beyond that, she has a personal interest in entertainment.
When Muluneh first looked at her motherland as a gateway for her plans across Africa, she didn’t even speak Amharic. Fast forward to now, she’s chatting in it—still with a few pronunciation bumps here and there—but enough to get her ideas across. The coolest part? She taught herself using only TikTok. “My digital journey, both online and offline, began with TikTok,” Muluneh recalled. “I started creating short videos about NFTs, and it transformed my life. For the first time, I connected directly with an Ethiopian audience. What began as a way to practice Amharic quickly grew into something bigger, becoming a bridge to my people.”
Muluneh added that it didn’t just help her language—it actually kick-started her career. It gave her a chance to see Ethiopia for herself, not just through her parents or Western media. “The whole experience gave me the freedom to rediscover my homeland, and I’m really grateful for that,” she said.
In her journey as both an entrepreneur and a mother, Muluneh never shied away from saying that support has been central to her life. Whenever her resources allowed, she hired household help, brought in nannies for childcare, and slowly built a team around her. “That assistance allows me to focus my energy where it matters most,” she said. But she also pointed out that not everyone starts there. “If you don’t yet have that option, the key is to prioritize. Not everything is equally important, and not everything has to be done right away—or even done at all. You don’t have to prove your worth to anyone else; you just need to stay true to yourself.”
Muluneh said determination and focus are vital. Growth, she noted, comes from listening to yourself first, even in communities where family opinions weigh heavily. “The people around you haven’t reached where you aspire to be, so their voices can’t guide you there,” she added.
Muluneh’s leadership strength, she says, is in marketing and PR: the ability to build visibility, shape awareness, and convert attention into sales. “Whether I’m acquiring a company, buying shares, or investing, I rely on strategies that work,” she explained. “It takes time to understand what audiences want, but once the message lands, the growth follows.”
A lot of startups struggle to get funding, even when they have strong ideas or a great pitch. In Ethiopia, it has been even harder—until this year, there wasn’t even a law to support startups. Muluneh explained that investors want high returns with as little unnecessary risk as possible. “The more someone pitches a ‘unique’ idea, the more red flags go up. Investors don’t chase uniqueness; we look for proven concepts with data and a clear path to success,” she said.
Looking ahead, Muluneh says she’s genuinely excited about Africa’s future. “Not everyone sees it yet, but I’m ready for what’s coming because Africa isn’t waiting. Its moment is happening now, and if we want to benefit from its potential, we need to step in today.”
She points out that the continent is growing at an incredible pace. “I truly believe that within the next decade, Africa could surpass Europe and America in key areas. Technology gets a lot of attention, but there’s huge potential in traditional businesses too—they just need the right improvements. You don’t always have to reinvent the wheel.”