Nigeria’s CcHub has acquired Kenya’s iHub in a bid to creating Africa’s mega incubator. According to the CEO of Co-Creation Hub, Bosun Tijani, he said the deal will be financed from the real estate project to build a new 10 story innovation center to replace its Herbert Macaulay Way building in Lagos.
The purchase amount for the acquisition is undisclosed. Details are emerging on how the entities will co-exist. ‘Bosun Tijani will be the Chief Executive of both organisations, while Nekesa Were will continue as the Managing Director of iHub.
According to Tijani, iHub’s existing programs will remain, but CcHub will extend some of its existing activities in education, healthcare, and governance to Kenya. With the acquisition of iHub, CcHub has expanded its investment footprint covering Nigeria, Kenya, and Rwanda.