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“There should be people or institutions that will finance projects with little chance of success but with great potential significance.”
Yuri Milner, Investor, Entrepreneur and Philanthropist
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Appzone is a fintech software provider. It is one of the few companies that builds proprietary solutions for these financial institutions and their banking and payments services. Today, the company is announcing that it has closed $10 million in Series A investment.
“We started Appzone with the intention to build out innovative local solutions f…Read More
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“South Africa had 24% of the total number of equity rounds in 2020, but it also had the highest failure rate for funded startups out of the top 4 tech hubs in Africa. It was followed by Nigeria while Kenya had the lowest.”
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In 2018, South African company, Naspers sold 2% of its shares in Tencent (WeChat) for $9.9 billion. On April 7, 2021, it sold another 2% of its shares in Tencent for $14.6 billion.
It still owns 28.9% of the shares. Naspers bought 46.5% of the shares for $32 million in 2001.
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Kenya is the most preferred African destination for Japanese companies that want to make new investments.
It was selected by 35.1% of Japanese companies involved in the survey.
Followed by South Africa (33%), Nigeria (29.4%), Ethiopia (21.3%), Ghana (19.5%) & Tanzania (15.6%).
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