Frontier Digital Ventures (FDV) has invested in the general classifieds site, Afribaba Holdings. The investment is to drive the company’s expansion across French-speaking markets in West Africa. Afribaba is FDV’s 12th investment in the past 12 months.
Afribaba is relatively unique in that it targets the French-speaking countries in Western Africa with these 24 French-speaking countries accounting for a population of 120 million.
“Afribaba is an ongoing success story and it aims to become the leading local classifieds ads internet business in Africa. We are planning to operate in four African countries in the next few weeks and probably in most African countries in the next few months,” Afribaba founder and CEO Jacques Temgo Guiffo told African technology news site TechMoran last week.
“In Cameroon, Afribaba is launching with afribaba.cm, while in Senegal, (we) are working to launch with afribaba.sn,” he added, noting that the company will be opening its Cameroon office first.
The classifieds company is also launching in Ivory Coast, as afribaba.ci and in Gabon, as afribaba.ga.
Guiffo added that Afribaba is supported by global experts in e-commerce and African markets. The founder is now revamping the designs of his sites across the first few markets Afribaba is concentrating on while putting together a team on ground in some of the markets.
Guiffo cites Rocket Internet and Naspers OLX as Afribaba’s biggest competitors.
Frontier Digital Ventures will be presenting at the Property Portal Watch Conference to be held in Amsterdam from the 7th to 9th October.