Ivory Coast-based e-commerce platform ANKA has raised US$5 million in extension funding to support the growth of thousands of small and women-led artisanal businesses, strengthening Africa’s creative industries and its growing online retail sector. ANKA 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 US$3.4 million equity investment from IFC, which marks IFC’s first investment into Africa’s creative sector, will allow to scale its operations and onboard about 100,000 additional artisans from across Africa by 2030. This investment will support our expansion drive as we continue to connect Africa’s creative entrepreneurs to a global market,” said Moulaye Tabouré, CEO of ANKA. IFC also will provide advisory support directly to ANKA to help the company improve its corporate governance framework.

Source: The North Africa Journal September 21, 2023 06:02 UTC