Tech

IFC invests $3.4 in Cote d’Ivoire’s e-commerce platform, ANKA

Published

1 year ago

September 26, 2023

The International Finance Corporation (IFC) has put another $3.4 million equity investment in leading Cote d’Ivoire e-commerce platform, ANKA, the organisation announced on Tuesday.

In the statement, it said the funding would allow ANKA, an online sales platform for African creators and merchants, to “scale its operations and onboard about 100,000 additional artisans from across Africa by 2030.”

In addition to the financing, IFC says it will help ANKA deliver financial literacy and other training for women retailers on the platform to strengthen their businesses, while providing advisory support directly to the company to help improve its corporate governance framework.

Moulaye Tabouré, CEO of ANKA, who welcomed the new investment which is coming barely a week after securing $5 million funding from the same organisation, said the investment would support the startup’s expansion drive, as well as connect Africa’s creative entrepreneurs to a global market.

“We are excited to partner with IFC, particularly at this stage of our growth story. Having recorded important growth since 2021, we are now in line for the next stage of our journey,” Tabouré said.

“Empowering African artisans, particularly women, and helping them access wider markets is crucial to raise the bar of economic inclusion and spur sustainable growth.

“ANKA’s strategy of connecting artisanal fashion designers and merchants to global markets aligns with our vision of supporting Africa’s creative industry to unlock new opportunities for inclusive growth,” he added.

ANKA is one of Africa’s biggest e-commerce platforms which offers a one-stop online platform for African artists, including those making and selling clothing, jewelry, and accessories, helping them connect with new markets by facilitating sales, shipping, and payment processing.

The platform is currently used by more than 22,000 sellers, primarily in Africa, and also in North America, the Caribbean, and Europe, with sellers purchasing products on its online marketplace, Afrikrea, which is powered by ANKA.

Related Topics:ANKA Côte d'Ivoire e commerce Featured IFC.Investment

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

9 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

1 day ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.