The Empower Africa Business Platform is Now Live !!!
This strategic move is aimed at investing in and supporting innovative tech startups in Kenya and beyond.
With a strong commitment to nurturing local talent and driving digital innovation, Safaricom seeks to play a pivotal role in propelling the growth of the technology sector and fostering entrepreneurial success in the region.
The two new subsidiaries introduced by Safaricom are:
– Safaricom Ventures: Safaricom Ventures will function as the company’s corporate venture arm, focusing on investing in early-stage tech startups.
Through this subsidiary, Safaricom aims to identify and back promising entrepreneurs with cutting-edge ideas that align with its core values of digital transformation and customer-centric innovation.
– Safaricom Innovation Lab: The Safaricom Innovation Lab is an incubation center designed to nurture startups through their initial stages of development.
The lab will offer a conducive environment for entrepreneurs to experiment, develop prototypes, and refine their business models.
The lab will have state-of-the-art facilities, expert guidance, and collaborative spaces to foster creativity and idea-sharing among budding entrepreneurs.
The introduction of Safaricom Ventures and the Safaricom Innovation Lab brings a wealth of opportunities for the startup community in Kenya and beyond.
Safaricom’s decision to invest in tech startups through Safaricom Ventures and the Safaricom Innovation Lab is a significant leap towards nurturing innovation and driving technological advancements in Kenya and beyond.
Launch Africa Ventures has been named investment advisor for the first phase of the Botswana Tech Fund, a new venture vehicle that plans to support technology and tech-enabled businesses across Southern Africa.
Nigerian defence technology company Terra Industries has unveiled plans to build what will be Africa’s largest drone manufacturing facility, marking a major expansion of its operations beyond Nigeria.
The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has approved a grant of 1.7 billion CFA francs (about $2.8 million) to support private sector growth in West Africa’s monetary union.
