(Ecofin Agency) - Investors & Partners (I&P), which finances and supports startups and small and medium-sized enterprises (SMEs) in sub-Saharan Africa, has invested in StarNews Mobile, a video content distribution platform launched in 2017 by Cameroonian Guy Kamgaing. The announcement was made on December 10, 2020, via a press release.
This is the ninth investment made through the I&P Afrique entrepreneurs 2 fund set up in 2017, which aims to support some twenty companies by 2022. The impact investment group currently led by Jean-Michel Severino, former CEO of the French Development Agency (AFD), will support StarNews' expansion in sub-Saharan Africa.
"We share StarNews' ambition to promote African artists and to produce a greater diversity of quality local content with high added value for end-users," commented Nouss Bih, an Investment Manager within the I&P Group, based in Côte d'Ivoire.
StarNews is currently operating in four African markets namely Côte d'Ivoire, Cameroon, Congo, and South Africa. The company will use the money to develop content with more added value for its users.