LegAfrik Expands operations into Burkina Faso.
Ouagadougou (Burkina Faso) and Abidjan (Cote D’Ivoire) March 2019. GreenTec is very pleased to announce that LegAfrik has expanded the footprint of its legaltech service offerings in the OHADA region by opening an office in Ouagadougou in partnership with the Mozcity Incubator.
LegAfrik addresses a clear and present need in West Africa: the facilitation and simplification of the formalization of businesses. This is particularly important to governments and the stabilization of regulatory environments. Expanding access to formalized business will allow governments to collect taxes revenue more effectively and helps businesses need operate more transparently and achieve larger scale (e.g.: with Mobile Money). However, despite recent governmental efforts barriers for businesses to formalize remain high.
The LegAfrik SaaS Platform provides a turn-key solution that enables seamless end-to-end management and execution of the registration processes as well as offering additional value-added extension services to these newly formalized businesses (accounting, invoicing, debt collection, etc).
A testament to the nascent legaltech industry, LegAfrik has built strong momentum in Cote D’Ivoire reaching monthly billing revenues of over €15,000. The company is well on the way to positioning itself as a regional leader in legaltech. In line with its regional expansion strategy, the company has opened an office in Burkina Faso in partnership with the Mozcity Incubator. The company has already services its first clients in Burkina Faso and expects clients and revenues to grow quickly.
With its customer-focused strategy at the core of all LegAfrik’s activities, LegAfrik CEO Mr Ballo has recently negotiated a strategic partnership with the accounting group Strataige. Strataige offers an online CRM and accounting tool called AkilCab. Through this partnership, LegAfrik will be able to offer this new accounting tool to its rapidly-growing list of service offerings as a part of its digital platform. With a presence both in France and in Côte d’Ivoire and complementary core competences, the Strataige Group is an ideal partner to maintain LegAfrik’s fast-paced growth.
This formalization trend cuts across sectors in Africa and LegAfrik’s pipeline for potential partnerships and service offerings provides ideal positioning to service this growing demand. GreenTec expects the company to expand its geographic footprint quickly and to establish itself as the African market leader in legaltech.