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.