What are internet-based companies or startups?
Web-based/internet-based companies (mostly called start-ups) are companies whose operations and transactions are solely based online or on the internet. Even though most technology-based/internet-based companies are started from an idea by one or two highly-skilled technical programmers or team, once it catches on, it can be worth several millions of dollars.
Example of multi-billion dollar internet-based companies around the world are Instagram, Google, Facebook, Amazon, Yahoo, Baidu, Alibaba, Dropbox, Snapchat, Uber, Spotify, Soundcloud etc.. There are millions of them all over the world worth billions of dollars.
The internet space in Africa is growing rapidly but it’s very sad to say that Ghana may be the last place to pickup on the internet world. Internet penetration in Ghana is still very low as compared to other African countries like Kenya, South Africa and Nigeria.
There are several internet-based companies in Nigeria, Kenya and South Africa worth millions gearing up for billions like Iroko TV owned by Iroko Partners, Cheki and Jobberman owned by One Africa Media, Jumia owned by Rocket Internet, Konga, Kaymu also owned by Rocket Internet, 24 Media Services owned by Naspers, OLX also owned by Naspers etc.
In Ghana we have very few web-based businesses and very few among them have seen little success and popularity, the reason is, just like every other business, internet-based businesses need huge funding (money) to run it’s operations like advertise, hire competent workers but because the space in Ghana is not big, investors are reluctant when it comes to investing in Ghanaian startups.
Startups in Nigeria, Kenya and South Africa are raising crazy amounts of money to fund their businesses.
Let’s take a look at the few Ghanaian internet-based companies or internet-based companies with presence in Ghana and who owns them.
MPower Payments
A payment platform/gateway which allows it’s users to make cashless payments via their smartphones or web through Mobile Money, Visa/Debit Cards, ATM’s and more. MPower is built and managed by SMSGH and Encodev Labs. It was founded by a Ghanaian and a Kenyan.
Tonaton
Tonaton is a marketplace which replaced Google Trader as the number one market place in Ghana. Tonaton is owned by Saltside Technologies from Sweden. There are similar versions of Tonaton owned by the same company in countries like Sri Lanka, Bangladesh etc.
