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CcHUB buys out iHub

This is the first time on the continent that a tech hub has acquired another. Arguably two of Africa's most reputable technology hubs.

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Nigeria’s technology innovation centre, Co-creation Hub (CcHUB), has acquired Kenya’s iHub for an undisclosed fee.

The deal will see iHub’s team become part of CcHUB’s wider central support and strategy network, whilst retaining its name and senior management structure. CcHUB’s co-founder Bosun Tijani continues as CEO across both locations.

As part of the acquisition, CcHUB will now make key hires in innovation consulting, people management, programme management and community support, as it looks to strengthen its pan-African network and mobilise its far-reaching resources, network and relationships to accelerate the growth of technology innovation and entrepreneurship in Africa.

The move comes just seven months after CcHUB expanded into Kigali, Rwanda, with the launch of its Design Lab – the first creative space in Africa to focus solely on product design and technology innovation.

According to Bosun Tijani, CEO at CcHUB he says that CcHUB is long-time admirers and collaborators of iHub – a world-class community of developers, entrepreneurs and business people who have been instrumental in growing Kenya’s extraordinary technology ecosystem.

“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”.

Arguably one of the most prolific tech hubs in Africa, the Lagos-based hub has built a vibrant community of over 14,000 people and has incubated and provided support to a portfolio of over 120 early-stage ventures, providing solutions to social problems with technology including Lifebank, Riby, BudgIT and WeCyclers.  In 2012, CcHUB played a major role in converging key stakeholders to deliberate and action ideas that led to the emergence of one of Africa’s most organic technology clusters in Yaba, Lagos.

iHub, launched in 2010, is home to internationally-recognised companies such as BRCK and Ushahidi, as well as start-ups such as Zayride, Eneza Education, Taimba and Optimetriks and has seen over 500 companies receive business support services, 100+ of which have gone through incubation and accelerator programs.

To date, over USD40m has been raised by iHub startups in early and growth stage financing and iHub portfolio businesses have contributed over 40,000 jobs to the East African economy. Their products have impacted millions.

According to Ihub founder, Erik Hersman also CEO BRCK, he acknowledges Bosun indicating that they have known each other since the beginnings of the tech hub explosion across Africa.

“We’ve always made sure that the CcHUB and iHub had a good relationship. A decade later, it’s exciting to see the evolution of the space, and to have two of the largest and most impactful hubs consolidate and provide an even larger target for the tech communities they represent, as well as the businesses, investors and media who work so closely inside the ecosystem.”

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