Africa | May 29, 2018

Janngo raises $1.2 million for social digital startup lab

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, May 29 – Africa’s small businesses account for 85% of jobs and 17% of gross domestic product on the continent. Janngo, a new social tech incubator based in Paris and Abidjan, Ivory Coast, is looking to accelerate good job prospects in Africa by helping small businesses build and use digital platforms and tools.

  • Seed funding… Multifamily office Mulliez Family, investment bank Clipperton and international trading firm Soeximex invested €1 million ($1.2 million).
  • High growth… Janngo identifies, incubates and invests in startups building digital tools for agribusiness, education, fashion, finance, healthcare and other high growth sectors. It intends to support opportunities for women and youth.

“Many African countries are recording record high GDP growth at a global level, but these numbers need to be translated into concrete improvement of population living conditions, higher disposable income and more job opportunities,” said Janngo founder Fatoumata Bâ.