IFC Invests $3.4 Million in ANKA, Boosting African E-commerce Platform’s Expansion
The International Finance Corporation (IFC) has announced a substantial equity investment of $3.4 million in ANKA, a leading African e-commerce platform. This funding injection is set to facilitate ANKA’s expansion efforts, aiming to onboard approximately 100,000 additional artisans from across Africa by 2030.
ANKA operates as an online sales platform specifically designed for African creators and merchants, offering a one-stop solution for artists creating and selling clothing, jewelry, and accessories. The platform assists these artisans in connecting with new markets by streamlining sales, shipping, and payment processing.
Currently, ANKA boasts more than 22,000 sellers, with a strong presence in Africa, as well as North America, the Caribbean, and Europe. Many of these sellers feature their products on the online marketplace Afrikrea, which is powered by ANKA.
Moulaye Tabouré, CEO of ANKA, expressed enthusiasm about the partnership with IFC, particularly at this pivotal stage of growth. He stated, “This investment will support our expansion drive as we continue to connect Africa’s creative entrepreneurs to a global market.”
Makhtar Diop, IFC Managing Director, emphasized the importance of empowering African artisans, especially women, and facilitating access to broader markets. He noted that this is crucial for enhancing economic inclusion and fostering sustainable growth. ANKA’s strategy aligns with IFC’s vision of supporting Africa’s creative industry to unlock new opportunities for inclusive growth.
IFC’s support extends beyond financing, as the organization will provide financial literacy training and other forms of education for women retailers on the ANKA platform to strengthen their businesses. Additionally, IFC will offer advisory support directly to ANKA to enhance its corporate governance framework.
According to the World Bank’s Enterprise Surveys data, Africa’s creative entrepreneurs face significant challenges in accessing global markets, with only 12 percent of small businesses directly exporting their products. Furthermore, Africa’s e-commerce market for creative products constitutes less than 10 percent of its overall retail market.
However, IFC’s recent report titled “Women and E-commerce in Africa” suggests that Africa’s e-commerce market could experience substantial growth, potentially exceeding $14.5 billion between 2025-2030.
This growth could invigorate the African creative sector, support micro-entrepreneurs, and generate job opportunities. Bridging the earnings gap between men and women on e-commerce platforms could contribute nearly $15 billion to the overall value of the African e-commerce market.
IFC’s investment in ANKA was made through its new Africa, Middle East, Central Asia, and Pakistan Venture Capital Platform, which focuses on backing early-stage tech s壯陽藥 tartups across various sectors, including education, healthcare, climate, agriculture, and more. This investment is supported by the International Development Association’s Private Sector Window Blended Finance Facility.