IFC mulls equity stake in Africa’s TalkingAfrica Capital Digest
According the to IFC‘s website, the development finance institution is mulling whether to make an equity investment in Africa’s Talking. If approved, the Nairobi-headquartered mobile technology will received a $6 million equity investment for an undisclosed stake. Additional terms of the deal were not disclosed.
Africa’s Talking provides businesses and developers on the continent with a cloud-based platform to integrate messaging, voice and video communication capabilities into their apps as well as acting as a bridge between mobile network operators (MNOs) and developers and enabling access to those locally relevant services offered by the MNOs. In addition to Kenya, the firm has operations in Uganda, Rwanda, Tanzania, Malawi, Nigeria and Ethiopia. In August this year, the company struck a deal with Nigeria’s 9mobile which will allow software developers across the continent to access its network platform in one of Africa’s largest telecom markets.
The firm was established in 2010 and counts its CEO and Co-Founder, Samuel Gikandi, fellow Co-Founder Eston Kimani and its COO, Bilha Ndirangu, among its major shareholder. The company also received a seed investment from Better Ventures, a Silicon Valley-based venture firm.