Upon the outbreak of the First Italo-Ethiopian War in 1895, Sharafaly lent Ras Makonnen 100,000 thalers for the war effort. This was to be the inflection point in Sharafaly's fortunes; despite being fired by Banin for the unauthorized loan, following the Ethiopian victory in 1896 the "Ras" soon reciprocating by securing for Sharafaly a monopoly over coffee exports, and licences to export ivory, sheep, and cheetah skins.