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IFC, a member of the World Bank Group, has led a $5 million extension round in ANKA, a Software-as-a-Service (SaaS) e-commerce platform based in Ivory Coast. This investment aims to support ANKA’s growth and expansion plans in the West African region.

ANKA is a leading player in the rapidly growing e-commerce sector in Ivory Coast, a country experiencing a digital revolution that is transforming various industries. The platform provides a comprehensive suite of services for e-commerce businesses, including online store management, inventory management, order fulfillment, and logistics.

With this investment, ANKA plans to further enhance its technology infrastructure, expand its marketing efforts, and increase its customer base. The infusion of funds will allow the company to improve its product offering, streamline its operations, and provide better support to its growing list of clients.

The e-commerce industry in Ivory Coast has been growing steadily, fueled by increasing internet penetration and a growing middle class with disposable income. As the economy continues to digitize, ANKA aims to play a crucial role in helping businesses establish their online presence and capitalize on the digital marketplace.

IFC’s investment in ANKA is in line with its strategy to support innovative tech-driven solutions that address development challenges and promote sustainable economic growth. By investing in ANKA, IFC aims to contribute to the expansion of e-commerce in Ivory Coast, a sector that has the potential to create jobs, improve access to goods and services, and foster entrepreneurship.

According to Wale Ayeni, IFC’s Global Head of Venture Capital, this investment reflects IFC’s commitment to supporting innovative companies in emerging markets. Ayeni believes that ANKA’s strong management team, market leadership, and potential for growth will contribute to the development of Ivory Coast’s technology ecosystem and drive sustainable economic development in the country.

ANKA’s CEO, Arnault Fossou, expressed excitement about the investment and its implications for the company’s growth prospects. Fossou stated that with IFC’s support, ANKA will be able to accelerate its expansion plans and provide better services to its customers. He also highlighted the importance of partnerships with global investors like IFC in realizing ANKA’s vision of becoming a leading e-commerce platform in West Africa.

The investment by IFC in ANKA signifies the growing interest of international investors in Africa’s tech startups. With its rapidly expanding population and increasing digital connectivity, the African continent presents immense opportunities for tech entrepreneurs and investors alike.

This investment round not only provides ANKA with the necessary capital to scale its business but also serves as a validation of its potential in the market. With the support of IFC, ANKA is well-positioned to lead the e-commerce revolution in Ivory Coast and pave the way for other African tech startups to thrive in the global digital economy.

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