ABBA Raises NAD $2.2M in Seed Funding

Posted July 17, 2022 by ABBAfrica

Backers including New York City, USA based SNR Capital Management LLC and Columbus, Ohio USA based First Cascade Equity Partners LLC.

Namibia-based Africa Better Business Agency (ABBA) which is developing the ABBA Accredited Network to advance trust and transparency in cross-border transactions in Africa, raised USD $130,000 (NAD $2.2 million) in seed funding from the New York City, USA based SNR Capital Management LLC and Columbus, Ohio USA based First Cascade Equity Partners LLC.

The company intends to use the funds to finalize the development of its core offerings, the ABBA Accredited Network, a Centralized Autonomous System (CAS), which is composed of the core website and Mobile App (Android and iOS) platforms, whose primary aim is to advance a trustworthy marketplace in Africa by providing consumers with relevant data before they purchase their products and services from individual sellers, SMEs or large enterprises, everywhere in Africa.

"If you are operating any size business of any kind or selling anything, anywhere in Africa, then you should become an ABBA Accredited Member, which may help you attract more potential customers to exponentially boost your turnover and grow your business, faster", state Ms. Beata Nakanyala, ABBA President.

Misleading marketing practices, price gouging, product adulteration, product counterfeiting, product faking, non-delivery of paid goods, and all the likes, have for years been robbing African consumers billions of dollars of their real value for monies paid, leaving them frustrated.

"ABBA plans to change the way traditional cross-border transactions are done in Africa", states Mr. Fanuel Iikuti, ABBA Director, Strategic Partnerships.

Every day, over 800 million people across Africa buy their products and services from different businesses all over Africa, but without a well defined centralized system to provide them with the relevant data for them to make informed decisions at the point-of-purchase.

"I encourage everyone looking to buy anything anywhere in Africa to verify every seller with ABBA before you pay, it is a free authentic service for you", exclaims Mr. Eddie Manda, ABBA Country General Manager, Malawi.

The ABBA Accredited Network is designed to provide accreditation for over 100 million businesses of all sizes and sectors operating in all 54 countries in Africa, and serve the accredited data to over 1.2 billion consumers who spend more than USD $2.1 trillion every year buying goods and services, across Africa.

About ABBA

Founded in 2022 and based in Windhoek, Namibia, Africa Better Business Agency (ABBA) is a premier Business Intelligent System (BIS) whose mission is to advance trust and transparency in cross-border transactions in Africa.

Contact Info:

Africa Better Business Agency
Windhoek, Namibia

Phone: +264-81-704-7694
Email: [email protected]

Safe Harbor Act

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By ABBA
Phone +264-81-704-7694
Business Address Independence Avenue
Country Namibia
Categories Internet
Tags abba , africa , funding , marketplace , seedfunding
Last Updated July 17, 2022