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Baobab Network Acquires South Africa’s Reflector Marketing

By Oluchukwu Ikemefuna

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Baobab Network, Africa’s leading accelerator, has acquired South African strategy and branding company, Reflector Marketing. Baobab Network previously stated its dedication to investing in 1,000 African startups in 2023.

Baobab

The acquisition of the branding agency is consistent with the stipulated plan of the investor company. 

Baobab Moves To Acquire Reflector Marketing Agency

The move to acquire the company is a significant one. This is due to Baobab being pressured to have a portfolio company with solid business cases. 

With this acquisition, Baobab can expand its portfolio of companies with branding, marketing, and digital services. This provides a greater potential success for the companies. 

Toby Hanington, the co-founder of the Baobab Network, stated that the move to acquire the branding company is part of the achievement of investing in African startups. 

He further said “We’ve worked with the Reflector team since early 2023, and the move to acquire them is a testament to the work they’ve already done with our portfolio.” 

Reflector Marketing Founder Now Director Of Baobab Network 

Founder of Reflector Marketing, Klyne Maharaj, claimed the acquisition is an advantage to African entrepreneurs, as it will support them. According to Baobab Network, Maharaj will assume the role of director of Baobab Network’s accelerator.

Maharaj applauded Baobab saying, “Baobab already has a phenomenal team that has made a profound impact on Africa’s venture ecosystem. Together, we’ll build the most powerful capabilities team of any early-stage investor on the continent.” 

He further stated: “Our goal has always been to help the world’s best startups nail their positioning, win their markets, and raise capital to fuel their growth.”

Baobab Set to do More In Africa

Baobab provides companies with $100,000 in funding as a form of support. It claims to have invested in 14 African companies, with 50 portfolio companies valued at $225 million. Furthermore, its companies have a follow-up funding of over $55 million. The company is set to do more by investing in more African startups. 

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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