Africa Roundup: CcHub’s iHub acquisition, Andela’s $50M run rate and layoffs, Transsion’s IPO
The purchase amount was undisclosed, but CcHub will finance the deal out of its real estate project to build a new 10-story HQ in Lagos, CcHub CEO Bosun Tijani told TechCrunch.
Details are emerging on how the two entities will operate together, but Tijani noted some degree of autonomy. The names — CcHub and iHub — will remain the same. Tijani is now co-CEO of both organizations.
Nekesa Were continues as iHub managing director. And iHub’s existing programs will remain, with CcHub extending to Kenya some of its existing activities in education, healthcare and governance.
CcHub will also use the iHub addition to expand the investment scope of its Growth Capital Fund.
The acquisition brings together two of Africa’s most powerful tech hubs by membership networks, volume of programs, startups incubated and global visibility. CcHub and iHub visitors and partnerships span Zuckerberg, Mayer, Facebook, Google and several African governments.
There’ll be a lot to cover on how this merger shapes up. At a high level, for now, the CcHub-iHub union creates a direct innovation link between two of Africa’s most
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