For decades, The Baobab Network has been assisting businesses with capacity building and fundraising; Nairobi-based accelerator, The Baobab Network has been known for its passion for driving innovation and investment across Africa.
Since 2019, they have been assisting businesses with capacity building and fundraising; the organization welcomed its final cohort in February. A total of 40 firms are now included in its portfolio, and it recently raised its minimum investment requirement to $50,000 and made five additional investments.
Recently In 2022, the firm invested $50K each in four African startups to scale rapidly. Some of these new investment recipients are Kenyan logistics startup Afrigility, which offers B2B e-commerce fulfillment and on-demand warehousing solutions; Togo's Eazy Chain, which offers an integrated logistics solution with air, road, marine, and freight services; and Nigeria's ePoultry, a platform for agricultural products that offers input credits, consulting services, and a bustling B2B marketplace for poultry producers.
The two additional companies that made it to the list are Morocco's Colis and Guinea Conakry's MuduPay, they have each created platforms that allow Africans to move money via online payments from any location and assist clients in finding, comparing, selecting, and tracking transportation based on specific preferences.
To continue its goals of investing in early-stage startups, the Nairobi-based accelerator has now announced its latest cohort of investments by backing five new African startups with $50,000 each.
Each firm receives a $50,000 capital injection as well as a customized, expert-led accelerator program. The program encourages useful connections with notable angels and VCs through a demo day.
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