Esaja is the first African startup in Swastika’s portfolio. The Asian investor has so far focused on tech investments in India where a number of local startups have emerged as leading examples of a new charge in the country’s growth story.
For Esaja.com this becomes the latest investment for the African intra-trade startup. It previously received backing from CRE Venture Capital (formerly known as African Angels Network) a South African based venture firm and Africa’s leading angel investment fund.
Prior to this Esaja.com, which is a Zimbabwean tech startup, also tapped into the local environment for its formative capital requirements.
Speaking about the plans for the latest investment, Clinton Mutambo, the founder, and CEO of Esaja.com said,
I can confirm that we’ve received further backing to double down on what we believe is one of the biggest pain points for businesses of every size on our continent. This investment from Swastika Company will allow us to pivot our offering in line with the realities we’ve come across operating markets.
Mutambo, who is inspired by India’s youth-driven emergence story, firmly believes that Africa can also do the same through the efforts of enterprises like Esaja.com. He adds,
Swastika Company shares our belief that Africa is the final frontier and that it has a great deal of catching up to do if it is to, in any way, follow up on the rapid developments both India & the Asian tigers have witnessed. We are working to peel away layers of inefficiency related to how business is conducted in Africa.
Hope in Zimbabwe’s future
With investment coming from outside the country and doors opening for the Pan African startup to set up elsewhere, Esaja.com, which is based in Harare hasn’t moved its operational base. Mutambo still believes in the Zimbabwean growth opportunity and says,
Zimbabwe’s going through tough times but I believe in it, I believe our people can still play a part in building world class operations like the likes of Innscor, Seedco and Econet achieved before. This time against much more daunting odds, but equally limitless possibilities. The continent as a whole needs to commit to a better future, young Africans like myself are yearning for a better tomorrow.
Disclosure: Techzim is an investor in Esaja and also have worked with Clinton Mutambo on other projects outside Esaja and continue to maintain a relationship with him.