The move marks a significant milestone in the company’s journey, strengthening its local presence and networks in two of Africa’s major economic markets and established tech ecosystems. As an agency operating primarily in the UK but with a focus on Africa; Wimbart’s team comprises a significant Diaspora-make-up.

The new hires will provide additional on-the-ground support for new and existing pan-African and international clients –  building on Wimbart’s expertise in producing effective, hyper-targeted communications strategies and campaigns for startups and scale-ups, as well as high-profile individuals and public bodies.

The new hires will be focussed on client support, media relations and new business development.

Speaking on the expansion, Jessica Hope, founder and CEO at Wimbart, says

“We have been in the market for almost a decade now, and have grown exponentially, having worked with 150+ start-ups, scale-ups, VCs and institutional bodies across 15 markets on the continent. We’ve carved a niche in a fast-paced and growing market and this expansion sees us doubling down on our commitment to being the go-to B2B PR agency for technology platforms who want to reach both African and international audiences. Establishing our on-the-ground presence in Nairobi and Lagos is the natural next step in our growth as a company – as we provide the support that our clients need to scale, evolve and succeed in their markets”.

She continues, “by being locally present, we’re in a much better position to expand our network and foster impactful, one-on-one connections with key stakeholders, investors and media, which affirms our commitment to not only provide exceptional PR, but deepen our commitment to shaping a positive narrative around tech and business in Africa”. 

The inclusion of a new Account Director to the senior leadership team, solidifies Wimbart’s unique position of remaining 100% Black and Minority Ethnic (BME) female-led at the Director level and above.

This follows recent promotions of Wimbart’s founding team members, including Maria Adediran as the company’s first Associate Director and Chanelle Denton and Ernestina Berry, to Senior Account Director roles.

• Nearly one-third of startup investors do not receive periodic reports from their portfolio companies 
• Quality of startup reporting deemed as a “significant factor” in shaping perceptions of leadership, scoring 8.5 out of 10
• Consistency and reliability ranked as the most important features for investors during reporting process

According to a newly-released report from Wimbart, the leading PR agency specialising in tech & startup sectors across Africa and emerging markets, 71% of African tech investors will not invest follow-on funding in a startup failing to provide them with regular reporting updates.

Titled “Startup Performance Reporting in Africa: What do investors want to know?”, the report’s findings underscore the significant and timely need for founders across the ecosystem to reprioritise communication efforts with their existing investor base to support their long-term funding requirements. 

According to the report, 29% of startup investors stated they did not receive periodic reports from their portfolio companies. These findings are made especially more pertinent for founders considering when asked whether the quality of startup reporting was a significant factor in shaping perceptions of leadership, the average rating provided was 8.5 out of 10. Consistency and reliability were also ranked as the most important features for investors during the reporting process.   

Published as Wimbart’s inaugural investor relations report, “Startup Performance Reporting in Africa” explores the potential of consolidated investor reporting in boosting investor confidence and ongoing support in African technology startups. With over 90% of the report’s respondents comprising venture capitalists, angel investors, accelerators and incubators from across the continent, it is the first pan-African study to identify the pain points in investor relations communications and propose an optimised approach for African startups to adopt. Amidst a global downturn in investments whereby macro-economic conditions have forced a 50 percent year-on-year decline in fundraising success for startups per this report, Wimbart’s investor relations pan-African report is a timely resource for understanding investors expectations in startup performance reporting on the continent.

Speaking on the report, Jessica Hope, Founder and CEO at Wimbart says, ‘Over the last decade, we’ve worked alongside a wide variety of stakeholders from across Africa’s tech space, providing us with a unique and holistic insight into the gaps throughout the ecosystem. In recent years, we’ve become increasingly familiar with anecdotal intelligence on the lack of consistent investor communications and with our growing network of VCs, DFIs and early-stage investors, we strongly believed it was the ideal time to accurately capture the problem and contextualise the narrative.”

“The resounding conclusion from our research is that in light of the current funding climate, founders simply cannot afford to neglect consistent engagement with current & potential investors. Now more than ever, there is a huge need for clear, regular and standardised updates to investors so they can not only accurately assess the health of their portfolio companies during this critical period, but sustain the upward trend in funding we’ve experienced over the last 5 – 10 years.”   

Launched in 2015, Wimbart has supported 120+ African-focused startups, scaleups and investors with high-profile names including Andela, TLcom, Wasoko, Piggyvest, Sparkle and Moove, producing hyper-targeted, relevant & meaningful media and communications campaigns. Based in London, the company was recently named Agency of the Year by BME PR Pros in the UK. 

Commenting further, Kola Aina, Founding Partner at Ventures Platform, says, “ In venture capital, investing in transparency is paramount, and consistent reporting is a sign of accountability. When startups regularly share their progress, challenges, and achievements, they are demonstrating a genuine commitment to transparency with investors. This reporting is also critical to keeping investors engaged and excited to help the company navigate challenges. In Africa especially, this credibility can serve as a crucial differentiator for investors seeking the most promising companies.” 

Despite a healthy appetite for entrepreneurship in Africa, there are still many challenges, and effective communication with investors is critical; founders therefore need to be intentionally accountable to existing investors by providing consistent and useful periodic investor updates, the report has revealed. 

Anna Ekeledo, Executive Director, AfriLabs, adds “Consistent reporting of a startup’s performance enhances investor confidence. Through this, the startup builds trust, shows accountability to their stakeholders, and gives investors the peace of mind. Investors can also support by analysing the data to spot potential pitfalls ahead of time, allowing them to step in with vital strategies to support the startup’s success.

The full report can be downloaded for free here.  

Facts About Wimbart

Wimbart has supported 120+ African-focused startups, scaleups and investors for almost a decade to produce hyper-targeted, relevant & meaningful media and communications campaigns and has gained a unique understanding of the gaps in the African technology ecosystem in the process.

Based in London, Wimbart is specialised in emerging markets and was recently named Agency of the Year by BME PR Pros in the UK.