CcHUB Acquires iHub
Kenyan based tech incubator firm iHub has been acquired by Nigeria’s Co Creation Hub (CcHub) at undisclosed fee.
The deal will see iHub’s team become part of CcHub’s wider central support and strategy network, whilst retaining its name and management structure.
Even so, CcHub will be making key hires in innovation consulting, people management, programme management and community support, as it looks to strengthen its pan-African network identity.
The move comes just seven months after the Nigerian tech giant expanded into Kigali, Rwanda, with the launch of its Design Lab – the first creative space in Africa to focus solely on product design and technology innovation.
“CcHub’s mandate is to build a formidable innovation ecosystem with a deeply rooted network, cultivating strategic partnerships and practical industry know-how that can support entrepreneurs in building thoughtful, relevant and scalable solutions,’’ the firm’s Chief executive Bosun Tijani said.
CcHub was founded in 2011 and since then, it has grown into a multi-faceted innovation center.
The organization manages digital skills programs for entrepreneurs and school kids, startup incubation, and a portfolio of investments through its Growth Capital Fund.
It has so far built a vibrant community of over 14,000 people and incubated and provided support to a portfolio of over 120 early-stage ventures, including Lifebank, Riby, BudgIT and WeCyclers.
iHub on the other hand was launched in 2010, and is home to internationally-recognized companies such as BRCK and Ushahidi.
iHub’s Managing Director Nekesa Were has welcomed the move, saying the they share a lot in common with the Nigerian firm.
“CcHUB has an unrivaled track record of building out a dynamic tech ecosystem which extends past Nigeria. Similar to us, they have been committed to delivering impactful support services, at scale, supporting tech and business communities and driving social capital for economic prosperity in Africa,’’ Were said.