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Aboubakar Karim

Aboubakar Karim

Aboubacar Karim is an Ivorian agricultural consultant and entrepreneur.

He is the Co-Founder and CEO of Investiv, an agricultural consulting firm that uses drones for farming. As a co-founder of this pioneering agribusiness venture, he recognized the immense potential of harnessing technology and innovation to revolutionize the agricultural landscape. Investiv’s mission extends beyond business – it’s about creating lasting impact.

With a focus on agri-tech, Investiv empowers local communities, strengthens supply chains, and contributes to the economic growth of not just one nation, but an entire continent.
Karim’s contributions haven’t gone unnoticed. He’s been hailed as one of the great hopes of the African continent.

His visionary approach to agribusiness and dedication to sustainable growth have earned him a well-deserved place among Africa’s young entrepreneurs who are steering the region toward a brighter future.
His recognition as a finalist in the Africa Business Heroes competition also underscores the significance of his work. Karim’s story resonates far beyond the confines of entrepreneurship. It’s a story of possibility, resilience, and the power of belief.

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Kenyan fintech Zanifu raises $11.2 million to scale its inventory financing offering

New Investments

Kenyan fintech Zanifu raises $11.2 million to scale its inventory financing offering

Zanifu, a Kenyan fintech company that provides inventory financing to micro, small, and medium-sized businesses (MSMEs), has raised $11.2 million in debt-equity funding in a pre-Series A round.
 

The funding round was led by Beyond Capital Ventures and Variant Investments.

The round also saw participation from other investors, including Founders Factory Africa, AAIC Investment, Google Black Founders Fund, and existing investor Launch Africa.

This brings the total debt-equity funding raised by the startup to $12.7 million.

Zanifu’s inventory financing product provides MSMEs with access to working capital to purchase inventory.

The company uses a proprietary credit scoring model to assess the risk of each borrower and offers loans with terms of up to 12 months.

The new funding will be used to scale Zanifu’s operations in Kenya and to launch new products and services.

The company also plans to use the funding to hire more staff and build its technology platform.

Zanifu is on a mission to provide affordable and accessible inventory financing to MSMEs in Kenya.

The startup’s inventory financing product has already helped over 1,000 MSMEs in Kenya to grow their businesses.

Zanifu’s latest investment is a positive development for the fintech sector in Kenya and will help to promote financial inclusion and to support the growth of MSMEs.

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Ivory Coast-based fintech  Anka secures $1.7 million funding from IFC for expansion

New Investments

Ivory Coast-based fintech Anka secures $1.7 million funding from IFC for expansion

Anka, an Ivory Coast-based financial technology company, has received $1.7 million in funding from the International Finance Corporation (IFC) to expand its operations.
 

The funding will be used to develop Anka’s digital lending platform and to increase its reach to underserved borrowers in Ivory Coast.

Founded in 2016, Anka is on a mission to provide affordable and accessible financial services to micro, small, and medium-sized enterprises (MSMEs) in Ivory Coast.

Anka’s digital lending platform allows businesses to apply for loans online and to receive funds within 24 hours.

The IFC funding will help Anka to expand its reach to more MSMEs in Ivory Coast.

The company plans to use the funding to develop its digital lending platform and to hire more staff.

Anka also plans to use the funding to research the needs of MSMEs in the Ivory Coast and develop new products and services to meet those needs.

IFC, a member of the World Bank Group, provides loans, equity, and technical assistance to private companies in developing countries.

The IFC’s investment in Anka is part of its commitment to supporting Africa’s financial sector growth.

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Esoko: The Ghanaian Agritech Startup Empowering Farmers One Text At a Time

StartUp Spotlight

Esoko: The Ghanaian Agritech Startup Empowering Farmers Through Tech

Agriculture is the largest sector of the Ghanaian economy, contributing to 54% of GDP and employing about 56% of the workforce.

Ghana’s agricultural sector is predominantly smallholder, with about 80% of farms being less than 2 hectares in size.

Ghana’s government has implemented several policies to promote agricultural development, including the Planting for Food and Jobs program, which provides farmers with subsidized fertilizers and other inputs.

Despite the government’s efforts, Ghana’s agricultural sector faces several challenges, including low productivity, poor infrastructure, and climate change.

However, tech startups are using various technologies to solve agriculture challenges in Ghana.

One such startup is Esoko.

Who is Esoko?

Esoko is a dynamic and innovative agritech startup based in Ghana, Africa.

Founded with a profound commitment to transforming agriculture through technology, the company has quickly become a symbol of innovation and empowerment within the agricultural sector.

What Do They Do?

At its core, Esoko is a platform that bridges the gap between farmers, markets, and vital agricultural information.

Established in 2005, Esoko offers up-to-the-minute data on market prices, along with three-day weather forecasts and valuable agricultural advice, all delivered through text messages.

Catering to a user base of a million farmers, with a fifty-per cent concentration in Ghana, the remaining farmers are distributed across 19 other African nations.

Agents within Esoko’s network diligently track market price changes throughout various African markets, subsequently inputting this information into their centralized database.

Leveraging the power of mobile technology and data analytics, the platform provides farmers with real-time information on market prices, weather forecasts, agricultural best practices, and more.

This information equips farmers with the knowledge they need to make informed decisions, maximize yields, and improve their productivity.

Mission and Vision

Esoko’s mission is straightforward yet transformative: to empower African farmers with timely and relevant information that leads to improved productivity and economic prosperity.

They envision a future where technology facilitates a thriving agricultural ecosystem, fostering sustainable growth, and reducing poverty across the continent.

Esoko’s impact stretches beyond Ghana’s borders, extending to other African countries facing similar agricultural challenges.

By scaling its solutions and partnering with local organizations, Esoko is contributing to a continental transformation in the way farming communities access information and resources.

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