Tech

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

Published

7 months 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

RepAir, Cella partner to launch carbon capture in Kenya

Published

6 hours ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

1 day ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.