Five African Startups Receive USD 25 K Funding Each From The Baobab Network

The Baobab Network, a Nairobi-based accelerator that invests in early-stage tech companies across Africa, has announced its latest cohort of five investees, each of which secures USD 25 K in funding. The Baobab Network has been accelerating startups with capacity building and fundraising since 2019, and now supports 25 startups in 11 countries after making five further investments as part of a new model. The newest cohort joined a three-month intensive growth program at the beginning of March. 

Three of the investees were from Nigeria, namely Sidebrief, which helps African companies build across borders by streamlining legal, incorporation, company admin, banking, and regulation through their APIs; Lendha, a full-stack, tech-led lending platform; and GoodTalent, a talent marketplace for companies to crowdsource, screen, hire and pay engineering talents globally, for full-time, remote, and contract roles. Also selected were Egypt’s Opus Analytics, which is building HR and people analytics software for SMEs and corporates in the MENA region and beyond; and Zambia’s Mighty Finance, a lending platform for SMEs.