This is the second change of ownership for iHub which was in 2017 acquired by venture capital firm BSP Fund LLC.
Kenyan technology incubator iHub has been acquired by a Nigerian tech innovation centre CcHub for an undisclosed sum.
This is the second change of ownership for iHub which was in 2017 acquired by venture capital firm BSP Fund LLC.
“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. We believe we can only do this if we are intentional and proactive in how we scale and grow our reach, not only across Africa, but also internationally,” said Bosun Tijani, CEO at CcHUB.
CcHub is using the acquisition as a pivot into its Africa-wide expansion.
The iHub was founded in 2010 by Erik Hersman as a working space for Kenya’s budding tech industry.
It subsequently developed research, consultancy and event-hosting as sources of up to 70 percent of its revenue.
In 2016, the tech incubator announced a change in strategy to facilitate 100 percent self-funding.
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