Startup Wasoko creates innovation center.
Startup Wasoko (formerly Sokowatch), the African e-commerce company that uses innovative technology to transform the informal retail supply chain, announced the official launch of the “Wasoko Innovation Hub” in partnership with the government of Zanzibar.
Located in the city of Fumba, Zanzibar, the new Hub will focus on building world-class technology solutions that will drive the e-commerce industry in Africa for years to come, becoming home to over 500 visionary engineers, product managers, UX designers and African researchers.
The Wasoko Innovation Hub is the first public-private partnership between an African tech startup and the government of Zanzibar for “Silicon Zanzibar”, a new government initiative to attract and relocate tech companies from across Africa to the island.
As part of the launch, Wasoko became Silicon Zanzibar's first anchor company and official private sector ambassador.
In addition to strengthening Wasoko's operational efficiency, the new Hub will specialize in developing tools to personalize customer experiences, improve delivery metrics, expand financial services options and gather key data and insights from across the chain. of value.
Over the next 10 years, it is expected to secure more than $15 million in investment, providing hundreds of Zanzibarians with a wealth of job and career opportunities.
Speaking about the launch of the Innovation Hub, Daniel Yu, CEO and founder of Wasoko, said:
“As a pan-African technology company, Wasoko has been looking for a place where we can bring together the best talent from across the continent and beyond to innovate and develop new products and services for our customers.”
“While we considered more traditional hubs like Dubai and London, we were committed to the belief that technology for Africa should be built in Africa.”
"Through our new partnership, we are proud to work alongside a government that is investing heavily in supporting this mission and we are honored to be a founding partner of Silicon Zanzibar."
"We firmly believe that Wasoko will be the first in a long line of tech companies to establish a presence on the island."
Mudrick Soraga, Minister of Investment and Economic Development of Zanzibar, added:
“Tech companies will no longer need to open offices and relocate their staff to Dubai or London to manage their African operations.”
“We are providing an open and enabling environment for all technology companies and their team members based in Zanzibar, one of the most attractive destinations in the world.”
“The aim is to enable everyone to build technology for Africa based in Africa”.
“We are excited to officially partner with Wasoko and other technology companies coming to Zanzibar to co-create policies and initiatives that will transform Zanzibar into a leading technology hub for the African continent.”
The launch of the Wasoko Innovation Hub marks the latest milestone in its rapid growth journey that saw the startup named Africa's fastest growing company by the Financial Times in May 2022. As a result, its Series B shares have been listed. in March, at US$125 million, the largest funding ever obtained by a non-fintech startup in Africa.
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Picture: © DR
