International investors that have boosted more than 650 technology startups have thrown their weight behind their first East African company, Kenya’s Bamba Group
US accelerator TechStars believes Kenya’s Bamba Group could be the next AirBnB or Dropbox within the next five years. The experts will put Bamba through intensive training in Austin, Texas, and give them a cash investment to fast-track their growth.
“We are very happy to select the first company from East Africa into the TechStars programme.Bamba Group is a testament to our globalized world where a startup from any corner of the planet can rise up, pursue their passion and make a lasting impact on the world.” TechStars Austin Managing Director, Amos Schwartzfarb said
Bamba Group, a Nairobi-based business founded 3 years ago, developed a data collection software that can run in any country. It is the only company in the world that will send a mobile airtime payment directly to your phone when you submit data in as many as 122 countries.
The cloud-based system is used by major not-for-profit and for-profit companies in Kenya including Aga Khan Foundation, Nairobi Airport Services, and Diamond Trust Bank. Bamba Group CEO, Al Ismaili, is thrilled his company is among the 2% of the applicants who are accepted into the programme.
“It is our employees that are most deserving of this selection. We now look forward to the next stage of our growth with a new saying around the office – something we now hear regularly from our new mentors at TechStars – ‘Do More Faster’. We hope to make Africa proud”. Commented Bamba Group CEO, Al Ismaili
Mr Ismaili along with two other co-founders Faiz Hirani and Shehzad Tejani will attend a 13-week acceleration programme for hands-on mentorship and gain access to the TechStars Network, which includes more than 5000 people including founders, alumni, and global mentors.
Following the initial financial investment from TechStars, companies go on to raise an average of over $3million in capital after the programme.
Bamba has embedded itself as a staple in the Kenyan software scene. This is evident through its participation in the Presidential Digi-talent Programme (PDTP), a public–private partnership run by the ICT Authority in Kenya and commissioned by the President of Kenya.
“Kenya recognises the economic and social benefit of innovation and entrepreneurship” said ICT Cabinet Secretary Joe Mucheru even as he congratulated the group Bamba is committed to bringing the Silicon Valley start-up culture into Kenya in order to brew innovation and attract top talent in line with the country’s vision 2030 and National ICT Masterplan 2017.
Full feature on Bamba to follow, stay put