Orange Digital Ventures Africa has announced its first investment, aimed at helping Africa’s Talking (one of the leading telecommunications company), to raise $8.6 million alongside the IFC World Bank and Social Capital.
Africa’s Talking which is based in Nairobi is currently the leading company providing access to telecom operators’ communication and payment APIs (programming interfaces) for developers.
It is now the favourite solution of many Kenyan startups and over 15,000 developers, many of which rely on these APIs including SMS, voice and USSD to design services that are revolutionising financial, energy, health and insurance services among others.
The transaction is subject to the usual conditions precedent, including the approval of Kenya’s competent authorities.
Upon completion, Africa’s Talking plans to accelerate its internationalisation to support its clients’ expansion strategies.
The company has also started working in Uganda, Rwanda, Tanzania, Malawi, Nigeria and Ethiopia.
Marc Rennard, Chairman of Orange Digital Ventures said, “We are delighted that the first beneficiary of our African initiative is a recognised player providing access to operators’ APIs.”
He stated that they, believe it is essential to support every initiative that aims to make APIs more accessible to entrepreneurs in Africa.
The expansion of these mobile services according to him, is one of the key ways to help generate new innovations that will have an impact on the continent.
He added that, the investment will help strengthen Orange’s position as a leader in the ongoing mobile revolution.
“We look forward to seeing Africa’s Talking accelerate its pan-African expansion,” he said.