How to give back to the African mainland, the Bantaba way

Bantaba

Bantaba: – One of my favorite lines from Jidenna’s 85 to Africa design is from the song Worth the Weight. The song features Seun Kuti, and the following harangue from the artiste presumably captures some of what community-driven platform, Bantaba is doing.

“ I believe it’s time for an African people-powered trace. A trace that will connect the diaspora and the motherland.

A global trace for African people all over the world to rediscover themselves and remember that the only thing that unites black people encyclopedically, the only thing we’ve in common, is that we’re from Africa.”

When utmost of us hear the word diaspora, what comes to mind is in-laws or cousins abroad. For some, this could mean gifts like clothes, toys, jewelry, or plutocrat (the holy grail), which we occasionally like to call remittances.

Last time, people in the diaspora transferred back$ 45 billion to family members and musketeers, and this quantum depicts how important plutocrat comes to the African mainland annually.

Interestingly, despite World Bank prognostications stating a possible 20 decline for low and middle-income countries due to the epidemic, at that time, remittances declined by only1.6.

In some countries like The Gambia, Lesotho, and Cape Verde, these remittances contribute vastly to their GDP.
But let’s circle back to how these remittances happen.

Numerous diasporans leave their country in the hunt for better jobs and openings. Although some go to get an education, we could estimate that the raison d’être is nearly always the former.

In the long run, this means that depending on the type of job and the length of stay, these diasporans attain some position of experience.

Some of them work with big tech companies like Facebook, Apple, Google, and Microsoft, and some work with investment banks or companies.
Basically, there’s a well of largely untapped diasporan knowledge.

At Bantaba, LaminK. Darboe and his platoon of diasporans (andnon-diasporans) are looking for ways to ensure this wealth of knowledge and cash driblets down to African tech startups that need them.

One similar diasporan is Pierre Jallow, a Gambian and the Author and CEO of Webridge, a company that connects Nordic/ Baltic businesses to the African request and vice versa. He’s also the Co-founder of Remode, an entry-position accelerator.

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But before his life in tech, Jallow was a knowledgeable basketeer. He moved around relatively a bit and played in Finland (his current motherland) before moving to Russia and also back to Finland.

The way Jallow sees it, Bantaba is helping to expand the Ubuntu gospel of “ I’m because we are”, which, for utmost people, has come to mean doing right by their family, lineage, or community.

” All of an unlooked-for, you are doing have to say, ‘Okay, my settlements are just getting to my folks or individuals in my family, or I ‘m simply getting to keep investments in Europe where it’s not going to develop locally.

’But you’re saying with my$ 10,$ 20k, I’m going to invest in a due- industriousness ready company, in a vetted company. That’s the platform that Bantaba gives these investors.”

The trip to Bantaba

When Darboe left the props of Gambia for India in 2012, it wasn’t because he’d dreamed of launching an incipiency. Far from that, in fact. Like utmost youthful people — occasionally a little aged — leaving Africa, Darboe left to get an education.

But his trip to India would lead him to Italy.

“ During the same time, I had another education offer from a University in Milan, Italy, and that’s how I moved to Italy, where I completed my undergraduate ( studies) in finance. And also, like numerous finance graduates, the choice was perhaps investment banking or consulting.

So I attempted to follow one among those routes.”

That would take him to Ireland and also back to Italy, a decision that would introduce him to the incipiency world.

“ At the same time, I was working with a mate who was an angel investor and had investments in numerous tech startups in Northern Italy.”
In August 2019, Darboe moved to Stockholm for an MSc at the Stockholm School of Economics.

In June 2020, he met three other African scholars — Fabrice Ouedraogo, Eliane Birba, and Noufou Kafando — in a climate action challenge organized by Norrsken Foundation and Stockholm Innovation & Growth (Sting).

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Although they would ultimately crash out, the stage had been set for unborn collaborations, and the current result is Bantaba.

The way Darboe explains it, Bantaba match makes diasporans with tech experience and who want to give back to the African mainland through startups looking to raise capital, cultivate mentorship connections, or admit consulting services.

A way to suppose this is by using the meaning of Bantaba. It’s an ancient Manding word used to describe a large tree in the vill forecourt under which elders came to bandy effects that affected everyone in the vill.

Likening this to the digital platform, Darboe describes Bantaba as a square-suchlike confluence of the diaspora and tech startups to “ address the challenges back home.”

What Bantaba is not

While we’ve laid out what Bantaba is, what would it be a good idea for you not to botch Bantaba for?

First out, while it has parallels to (in) notorious matchmaking platform, Tinder, in terms of matching tech startups in need of professional advice and backing with diasporans who can give those effects, chancing love isn’t the thing.

Darboe considers the thought ” hot,” however not completely illustrative of all Bantaba does, tragically.

Side note If you find love while using Bantaba, please reach out; I love to hear similar stories.

It’s also not LinkedIn. Although it creates a community of professionals, it’s more focused on the diaspora and tech startups, a positive which Darboe believes can open room for monetization in the future.

Another study to scratch off the list is an accelerator or an incubator. Bantaba has none of those effects, and while it allows startups to produce the kind of connections you’d get with those, it has a different approach.

Also, it isn’t rigorously a platform to raise plutocrats. While that option exists, it isn’t the primary immolation. Like the typical backing round, plutocrat is changed for equity. Still, like GetEquity, a cap is placed on how importance is raised.

There is, still, no sanctioned request for secondaries.

Still, like with utmost community-centered apps, each stoner has a profile. But, before it’s created, the startups and diasporans go through a vetting process to insure that all is well. All the data handed is used to match startups and diasporans with analogous requirements.

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Bantaba also provides Amazon Web Services (AWS) and Miro credits to startups on the platform grounded on the hookups it has with these companies.

The idea was produced out of Darboe and hisco-founders’ interests in engaging with the African mainland, bridging the gap between the diaspora and the tech community, while erecting a community of experts and implicit investors.

Presently, Bantaba takes a 5 figure off any successful backing deal they’re directly involved in. This means that if an incipient joined the platform to raise plutocrats and Bantaba matched them with an investor who proceeds to give them plutocrats, Bantaba makes plutocrats off this.

While I wonder how sustainable this would be in the long run, Tomiwa Onaleye, Bantaba’s Content Strategist, tells me the end thing is to earn enough plutocrats to “ keep the company’s lights on.”

This is twice tricky when you realize that an incipiency can make these connections on its own on the platform and conceivably get backing without Bantaba knowing. But Onaleye says they aren’t inescapably bothered about that.

So far, Bantaba has raised$ pre-seed backing from Swedish angel investors. For posterior rounds and keeping with their current business model, Onaleye says the company is in no rush to bring just any kind of investor on board.

But are there plans to open up the platform to non-diasporans?

Although Darboe doesn’t rule out this possibility, he makes a statement evocative of our introductory yarn “ I believe it’s time for an African people-powered trace.”

“ I suppose it’s a good way for Africans to be part of their own development before you bring in other people.”

And Jallow agrees.

“ No country was developed by others. Each country in this world was created by its own kin. Whether you consider one of the countries in Europe or North America, they were developed by their own people.

“ And the same goes for the African mainland and the countries within the mainland, and if its own people don’t get up, we don’t develop it. And I suppose this is the chance Bantaba creates.”

Techeod

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