Equitane, previously known as the Africa Transformation and Industrialization Fund (ATIF), led the funding round, which included contributions from partners like Morgan Stanley Inclusive Ventures Lab and Silverbacks Holdings.
Founded by Adaora Oramah in 2021, AMAKA Studio originally centered on telling stories about Pan-African womanhood.
Since then, the platform has evolved into a broader media-tech space that provides creators with resources to monetize their work and connect with major brands.
With a growing audience, AMAKA Studio has worked alongside influencers and global brands such as Nike and Disney.
At the heart of the company’s vision is the promotion of financial inclusion, representation, and equity for creators from underrepresented groups.
The newly secured funds will be used to expand AMAKA’s creator platform, AMAKA Gigs, designed to connect creators directly with brands.
This platform aims to simplify the process of finding opportunities, allowing creators to secure paid commissions.
The integration of enhanced payment solutions will address the common challenge of compensation within the global creator economy, ensuring seamless transactions for creators.
Additionally, the funding will support targeted marketing campaigns to grow AMAKA’s community and increase user engagement.
CEO Adaora Oramah emphasized AMAKA’s commitment to addressing the needs of underrepresented creators, ensuring they have the tools to build sustainable careers.
She stated, “We are focused on driving economic impact and fostering change for a dynamic community that has long been underserved.”
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Applications Open for Timbuktoo HealthTech Accelerator Program Offering $100K to Transform Healthcare in Africa
South African insurtech startup Inclusivity Solutions has announced the closing of a $1.5 million Series A extension round led by impact investment firm Goodwell Investments.
The African Development Bank (AfDB) has approved a $300 million facility for South Africa to support its Energy Governance and Climate Resilience Programme.
© 2021 Empower Africa. All rights reserved.