MEET THE WOMAN BUILDING PAN AFRICAN TECH COMPANIES
How One Financier Seek to Build Up Africa’s Tech Startups into African Champions-By Drive Africa Writer
A new generation of path breaking women in Africa’s finance and investing space is emerging. One it’s most prominent and emerging voices is Fatoumata Ba. The Senegalese born Ba is the founder and CEO of Janngo, an investment company focused on investing in technology focused African startups and women companies. Founded in 2018, Janngo seeks to support African technology startups and SMEs with innovative business models and the potential to deliver inclusive social impact. The firm seeks to build pan African startups within the tech space by building ecosystems in high growth sectors and providing support to SMEs to help them scale up. The firm has a unique commitment to helping finance the achievement of the Sustainable Development Goals (SDG) in Africa. The firm’s first fund raising round raised an initial 1 million euros from international and African investors. Janngo has offices in Abidjan and Paris and has managed to create more than 3000 direct jobs through its investments. Although relatively young, the firm has grown to become a EUR 60 million investment vehicle with a focus on Africa. It is also committed to investing 50% of proceeds to women led companies or those companies benefiting women.
The firm is a member of the Goal Keepers Community and the Global Future Council on the New Economic Agenda of the World Economic Forum. Janngo recently debuted its Janngo Capital Startup Fund, a venture capital fund focused on supporting technology enabled startups working to help achieve the SDGs in Africa. The fund received a EUR 15 million investment from the European Investment Bank (EIB).The fund, which combines a venture capital and impact investment model, seeks to support SMEs with a double bottle line approach.
Ba’s work has received a variety of global recognitions and honors. She is a World Economic Forum Young World Leader and an honoree of the Choiseul Institute’s 100 Economic Leaders of Tomorrow. She was also awarded the Aenne Burda Award for visionary leadership, optimism and courage.