Private Equity Fund to Inject $125 Million in Africa
A PRIVATE equity fund plans to put money in risk capital investments and other business support to five African countries, a senior manager announced last week. The GroFin Africa fund has so far raised $125m at its fund’s first closing.
The fund said in a statement recently that it would invest between $100,000 and $1m in seven countries including Uganda, Ghana, Kenya, Nigeria, Rwanda, Tanzania and South Africa. It expects to raise $160m by November.
The article talks further about a fund that subsidizes laptops
Tropix Technology, an American-based company, has invested $150m (about sh248b) in a project that will enable students and public servants to get laptop computers at subsidised rates.
“As a country, we have been sleeping in the area of ICT. This is a very historic project. We have removed the intermediary costs and barriers that have been inflating the cost of laptops in Uganda. Let us take the challenge,” Nsambu said. (Emphasis Mine)
I think the last statement however “As a country, we have been sleeping” is not entirely correct, Due to the unique challenges faced you often find ingenious ideas coming to meet these challenges. This also means, that due to the challenges faced the skills that are learnt are usually unique and not found else where in the world.An apt quote from Ethan Zuckkerman at Picnic in Amsterdam
“If Africa is surprising, then you’re not paying enough attention”
Popularity: 16% [?]
