The Baobab Network, a leading startup accelerator and investment platform, has been actively supporting and empowering startups since 2019. In February, it welcomed its latest cohort, marking a significant milestone in its mission. In a recent development, The Baobab Network has increased its standard investment amount to US$50,000 and expanded its investment portfolio to include five new startups, bringing the total number of startups it supports to an impressive 40.
Among the notable additions to The Baobab Network's investment portfolio are Afrigility, a Kenyan logistics startup specializing in B2B e-commerce fulfillment and on-demand warehousing solutions. Additionally, Togo's Eazy Chain has caught the attention of The Baobab Network for its integrated logistics offering, which includes air, sea, and road freight services. Nigeria's ePoultry, an innovative agricultural marketplace providing poultry farmers with input credits, advisory services, and a dynamic B2B platform, has also secured investment from The Baobab Network.
Joining the ranks of these promising startups are MuduPay from Guinea Conakry and Colis from Morocco. MuduPay has developed an advanced online payment platform, empowering Africans to transfer money seamlessly and securely from anywhere. Meanwhile, Colis offers transporters a digital solution to streamline their operations while enabling customers to find, compare, choose, and track transportation services based on their individual preferences.
In addition to the financial investment of US$50,000, each startup selected by The Baobab Network gains access to a customized and expert-led accelerator program. This program is designed to foster growth, provide valuable mentorship, and facilitate connections with prominent angel investors and venture capitalists through a demo day.
Christine Namara, the head of ventures at The Baobab Network, expressed her enthusiasm for this remarkable cohort of startups, emphasizing their dedication, creativity, and determination to tackle critical challenges within their communities and ecosystems. She proudly stated that The Baobab Network feels honored to be chosen as a partner in their journey and eagerly anticipates the transformative impact these startups will have not only within the African ecosystem but also beyond as they aim for scalability and global recognition.