39771 - Africa's Talking Ltd

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Summary of Investment Information

Project Number

39771

Company Name

AFRICA'S TALKING LTD

Date SPI Disclosed

Sep 6, 2017

Country

Kenya

Region

Africa

Projected Board Date

Oct 11, 2017

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Jun 28, 2018

Department

Equity Portfolio Management

Industry

Telecommunications and Technology

Previous Events

Approved : Dec 7, 2017
Signed : Apr 25, 2018
Invested : Jun 26, 2018

Sector

Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)

Project Description

Africa’s Talking Ltd. (“the Company” or “AT”) is a leading pan-African provider of Communication Platform as-a-Service (cPAAS) solutions focused on the fast-growing developer community in Africa. AT caters to the growing digitization of services and mobile-first trend in Africa by enabling high growth African companies to better communicate and engage with their customers. The Company provides a cloud-based platform that enables developers across Africa to integrate messaging, voice, and video communications capabilities into their apps via its self-provisioning, unified access, and easy-to-use application programming interface (“API”) . AT serves as a bridge between mobile network operators (“MNOs”) and developers, offering access to locally relevant MNO services/means of communications such as SMS (bulk and premium), USSD, Short codes, Airtime, Voice, Real-Time Communication, Sender IDs, Keywords, and mobile money.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	6.0

Development Impact

- AT's platform and business model lower access and cost barriers for technology entrepreneurs in Africa: AT's scalable cloud offering is able to profitably serve both the "one-man" shop and larger customers simultaneously. - Enhanced Digitization: AT's Africa expansion offers an opportunity for startups in Africa to target new markets and offer digital solutions which accelerate the realization of the Sustainable Development Goals (by 2030) (e.g. digital payments for pay-as-you-go solar, fintech, and technology-enabled farming, which enhances food security.)

E&S Category Rationale / Risks and Mitigation

This is a Category C project according to IFC's Environmental and Social Review Procedure, as a low level of environmental and social (E&S) risk can be expected in this project. The principal Performance Standards (PSs) applicable to the project are PS1 and PS2. Africa’s Talking leases office spaces and purchases off-the-shelf equipment, which entail minimal E&S risk. The key E&S risk in this project exists in Africa’s Talking’s management of human resources, for which the company has policies and procedures that comply with IFC’s Performance Standards. IFC will require Africa’s Talking to comply with IFC Performance Standards for the duration of IFC’s investment and to report on any E&S incident.

Contacts

For Inquiries About the Project, Contact

Africa’s Talking Limited
Samuel Gikandi
CEO/CTO
+254 20 3570095
info@africastalking.com
Galana Plaza, 7th Floor, Galana Road, Nairobi, Kenya
https://www.africastalking.com/

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