IFC, a member of the World Bank Group, has announced a $3.4 million equity investment in ANKA, a leading African e-commerce platform for artisans and merchants. The funding will support ANKA’s expansion drive and help the company onboard 100,000 additional artisans from across Africa by 2030.
ANKA Provides a One-Stop Online Platform for African Artists to Connect with New Markets and Sell Their Products Globally
ANKA provides a one-stop online platform for African artists, including those making and selling clothing, jewelry, and accessories, to connect with new markets and sell their products globally. The platform is used by more than 22,000 sellers, primarily in Africa, and several in North America, the Caribbean, and Europe. The sellers’ products can be purchased on the online marketplace Afrikrea, which is powered by ANKA.
IFC’s Investment is Part of Its Commitment to Supporting Africa’s Creative Sector and Promoting Inclusive Growth
The investment in ANKA is part of IFC’s commitment to supporting Africa’s creative sector and promoting inclusive growth. Africa’s creative entrepreneurs face significant challenges accessing global markets, with only 12 percent of small businesses directly exporting their products. Meanwhile, Africa’s e-commerce market for creative products is less than 10 percent of its overall retail market.
Africa’s Creative Entrepreneurs Face Significant Challenges Accessing Global Markets
IFC’s investment in ANKA will help to bridge these gaps and create new opportunities for African artisans to succeed. In addition to financing, IFC will provide technical assistance to ANKA to help the company deliver financial literacy and other training for women retailers on the platform to strengthen their businesses. IFC will also provide advisory support to help ANKA improve its corporate governance framework.
IFC’s investment is supported by the International Development Association’s Private Sector Window Blended Finance Facility. This facility provides funding to support early-stage tech startups in developing countries.
The investment in ANKA is a positive step towards supporting Africa’s creative sector and promoting inclusive growth. By empowering African artisans and connecting them with global markets, ANKA is helping to create jobs, boost economic activity, and reduce poverty.
Trailblazing ability of ANKA
ANKA as a platform is used by more than 22,000 sellers, primarily in Africa, and several in North America, the Caribbean, and Europe. The sellers’ products can be purchased on the online marketplace Afrikrea, which is powered by ANKA. It was founded in 2016 by Moulaye Tabouré, a Senegalese entrepreneur who saw the potential of e-commerce to help African artisans reach a global audience. Tabouré was inspired by his own experience growing up in Senegal, where he saw firsthand the challenges that artisans face in accessing markets and selling their products. ANKA provides a number of services to its sellers, including: A free online storefront, Secure payment processing, Shipping and logistics services, Marketing and promotion support. It also offers a number of training and support programs to its sellers, including financial literacy training, business planning assistance, and digital marketing training.
ANKA’s mission is to empower African artisans and merchants to succeed in the global marketplace. The company is committed to providing its sellers with the tools and resources they need to grow their businesses and reach their full potential.
ANKA has been recognized for its work in supporting African artisans and promoting inclusive growth. In 2022, the company was named one of the “100 Most Innovative Companies in Africa” by Fast Company. ANKA has also received funding from a number of investors, including the International Finance Corporation, a member of the World Bank Group.
ANKA is a valuable resource for African artisans and merchants. It provides them with a platform to sell their products to a global audience and the tools and resources they need to grow their businesses. ANKA is playing an important role in supporting Africa’s creative sector and promoting inclusive growth.
