African fashion - Afrikan Heroes

African Fashion Startup Maka Draws Investor Confidence with $2.65M Pre-Seed Funding

December 14, 2023

Maka, the African fashion and beauty e-commerce platform, recently secured a $2.65 million pre-seed funding round. The primary contributors to this round were Pan-African venture capital firms, 4DX Ventures and Janngo Capital, with additional support from Palm Drive Capital, angel investor Jonathan Shipman, founder of EVP and Twitch founding member, and executives from delivery platform Wolt. This funding injection comes as the startup’s response to the challenges faced by consumers in the fashion e-commerce landscape, particularly in Africa.

Maka was founded in 2021 by Diana Owusu-Kyereko, the ex-CEO of Jumia Ghana and ex-CCO of Jumia Kenya. The startup originated as an interactive social commerce platform, addressing the complexities of the fashion buying process experienced during the pandemic. Owusu-Kyereko identified a trust deficit in online shopping and the lack of a centralized platform for diverse consumer needs. This insight prompted the birth of Maka, aiming to create a one-stop-shop for fashion enthusiasts, especially millennials and Gen Zers in Africa.

Why the Investors Invested:

Investors were drawn to Maka for its strategic positioning in the evolving African e-commerce market. The surge in technology adoption among Africa’s younger demographic, contributing to the growth of e-commerce penetration from 13% in 2017 to 28% in 2021, provides a significant opportunity for Maka. Maka’s focus on targeting millennials and Gen Zers in this largely untapped market aligns with the shifting consumer trends and represents a strategic opportunity for growth. The startup aims to connect with a broader consumer base, focusing on the fashion sector and the burgeoning creator economy.

Maka addresses critical challenges in the fashion e-commerce landscape, particularly in Africa. Investors were attracted to the startup’s innovative solutions to two fundamental problems: the trust deficit in the online buying process and the struggle creators face in monetizing their influence. The incorporation of video content to build trust between users and creators stood out as a unique and effective approach, differentiating Maka from conventional e-commerce platforms.

The decision to focus on a user-generated content model was seen as a strategic move by investors. Unlike platforms relying solely on big creators, Maka’s scalable base of creators, where every customer can become a creator, provides an infinite pool of individuals generating video content. This approach enhances scalability and user engagement, as demonstrated by the rapid creation of over 2,000 reviews in just two months. Investors recognized the power of this model in fostering a sense of community and trust within the platform.

Diana Owusu-Kyereko’s leadership and industry expertise, gained from her previous roles as the CEO of Jumia Ghana and CCO of Jumia Kenya, played a pivotal role in attracting investment. Investors were confident in Owusu-Kyereko’s ability to navigate the complexities of the e-commerce landscape in Africa. The founder’s vision of creating a centralized platform to meet diverse consumer needs and empower both consumers and creators resonated with investors seeking a strategic and visionary leader.

A Look at Maka

Founded in 2021 by Diana Owusu-Kyereko, Maka operates as an African fashion and beauty e-commerce platform. Owusu-Kyereko, having previously held leadership positions at Jumia, initiated Maka as a response to the complex and challenging fashion buying experience during the pandemic. The platform serves as an interactive social commerce space, allowing users to discover products tailored to their styles through live try-on hauls, reviews, and user-generated content.

Maka, in its two years of existence, claims to have garnered over 500,000 downloads. The startup recently shifted its model to focus on user-generated content, resulting in over 2,000 video reviews in just two months. The platform incentivizes users with a rewards system, earning points for video reviews that can be converted into cash for shopping on the platform. The funding secured in the pre-seed round will be utilized to expand the team, enhance technology, and deepen the platform’s presence in Ghana and Nigeria.

Fatoumata Bâ, founder and executive chair of Janngo Capital, expressed confidence in Maka’s vision, emphasizing the potential growth and impact the startup could have at the intersection of e-commerce, creative, and cultural industries in Africa. Janngo Capital led the funding round, foreseeing the sectors jointly poised to grow substantially by 2050, generating significant GDP and job opportunities across the continent.

South Africa’s Entersekt Strengthens Global Focus with Modirum 3-D Secure Acquisition

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

African Hero Celebrating Thebe Magugu

September 8, 2019

Thebe Magugu came to international limelight when he became the first African to win the LVMH prize worth €300,000. The Fashion Talent Prize which came with a cash reward of €300,000 includes a year of “technical and financial support” from the luxury giant. Thebe dusted 1,700 applicants from 100 countries who applied for the LVMH prize to win the coveted Prize. Until now, many outside South Africa have not heard about Thebe Magugu’s exploits but he has had a deep impact on South Africa’s fashion industry because he has shown extensively that he has a drive to create original couture. Prior to winning the LVMH award in Paris, France, Magugu had won an award for curation and fashion content at the International Fashion Showcase, supported by the British Fashion Council.

Born and raised in Kimberley, South Africa, Thebe said that he was inspired by the women who played important roles in his life. And he has contributed his views on modern fashion and the South African youth culture. His work has been described by fashion critics as being unified by themes of juxtaposition. Thebe who studied Fashion & Apparel Design at Lisof Fashion School in Johannesburg says that he is interested in exploring the disparity between masculinity and femininity, tradition and experiment, overlarge and abridged and other differences in the design of his garments.

His newest collections which debuted at the South Africa Fashion Week was dubbed “Geology SS17” took place four months ago, and was inspired by a rejection of the anxieties that are coupled with urban life and a return to the open fields of remote South African landscapes instead. Critics have described his works as deep and expressional in that it tends to capture the South African society. He was quoted as saying that it is an awareness of the socio-political climate of South Africa that moved him to imagine a contemporary woman who chooses to escape its pressures for a simpler life in the wild. She breaks away from the buzz of city living to recenter and reinvigorate herself.

Expressing his desire to positively project his country’s creative abilities to the world, he noted that it is important that he use his work to show the world that from South Africa you can get the entire cycle of production. He pointed out that there are challenges that should not be denied especially in terms of infrastructure and system but the promise is there. “There’s so much talent in the country” he quipped.

Describing some of the topical issues that influence his works, he said “we are in a state of socio-political flux. Among all the beauty in this country, there are some very stressful and damaging events coming into light almost every day,” adding that he started to imagine a woman taking to the great outdoors, to escape the burdens and noise of urban living. She takes time to recover by hiking, fishing, camping and, by pure virtue of those three acts, thinking, breathing and regrouping.

While Magugu’s designs are not entirely derivative of outdoor camping gear, they bear signs of it reimagined in a stylish way. His show features details such as mountain climbing rope repurposed as a fastened collar, perforated fabrics for breathability, a deconstruction of cargo pants with many pockets and vibrant Koi fish patterns as a nod to fishing. The collection reflects the rich colours of the Gauteng province with warm shades of red, brown and orange foremost. He said his work often reflects his country’s many dualities, both very beautiful and violent. Like many challenges facing the continent, Magugu is facing distribution problems. The LVMH prize started in 2014, with its first three winners being designers who were based in London. LVMH is a French multinational luxury goods conglomerate.

Speaking on his country, he said that he loves South Africa so much and that his overarching mission is to create a global fashion brand that can hang anywhere in the world but based in South Africa, thus putting paid to concerns that he might follow the footsteps of some other celebrated fashion icons from the continent who after making big names, left the continent to Europe and North America to ply their trade. He however complained that government should do something concerning the challenges entrepreneurs face in the continent such as excess red tape and flaws across various systems, “as if everything is working hard at discouraging entrepreneurship in creative industries. I start to see more and more why we are losing our talents to Europe at such an alarming rate”, he said. It is like I want to be here to join my fellow peers in developing our industry – but at what cost? I posed this question to my personal Instagram and a concerning amount of people we all know in love in South African culture also said they are gearing up to leave. What can be done about this, he asked?

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.