IFC Invests $3.4mn in prominent Ivorian e-commerce platform ANKA

By bne IntelliNews September 26, 2023

The International Finance Corporation (IFC) has announced a substantial equity investment of $3.4mn in ANKA, a prominent Ivorian e-commerce platform.

The main goal of this funding is to help ANKA expand, aiming to bring on board around 100,000 more artisans from Africa by 2030.

IFC, part of the World Bank Group, will not only offer financial aid but also assist ANKA with valuable assistance in delivering financial literacy and training programs for women retailers.

ANKA is an extensive online marketplace that focuses on African creators and merchants, particularly in clothing, jewellery, and accessories. It plays a crucial role in helping these artisans reach new markets by making sales, shipping, and payments easier.

The Ivorian e-commerce platform currently has more than 22,000 sellers, mainly in Africa, but it has been expanding into North America, the Caribbean, and Europe. ANKA also operates Afrikrea, an online marketplace where customers can easily buy products from these talented artisans.

Moulaye Tabouré, CEO of ANKA, expressed excitement about the partnership with IFC, highlighting that this investment comes at a crucial stage of their growth journey.

"This investment will support our expansion drive as we continue to connect Africa’s creative entrepreneurs to a global market,” he said.

Makhtar Diop, IFC Managing Director, stressed the importance of empowering African artisans, especially women, and increasing their global market access to promote economic inclusion and sustainable growth.

“ANKA’s strategy of connecting artisanal fashion designers and merchants to global markets aligns with our vision of supporting Africa’s creative industry to unlock new opportunities for inclusive growth,” Diop said.

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