The Daily Brief: Naspers to invest $300M+ into SA tech startups, and more

Naspers is on a roll. The company has announced plans to launch Naspers Foundry which will be investing a total of at least $315 million into South African tech startups. That and more in today's brief.

Telkom Kenya to declare about 500 employees redundant to cut its operational costs

Telkom has issued the requisite thirty-day notice to relevant authorities and company stakeholders, of an intended workforce-restructuring exercise. The company is considering declaring about 500 employees redundant. Full details on Digest Africa.

The Nigerian government partly owns embattled MTN

MTN Nigeria is 75.81 percent owned by MTN International (Mauritius) Limited (MTNI); 18.7 percent held by Nigerian shareholders through special purpose vehicles; 2.78 percent owned by Mobile Telephone Networks NIC B.V and 1.76 percent owned by Public Investment Corporation SOC Limited. Full details on Premium Times.

Strive Masiyiwa’s Econet gets into ride-hailing with Vaya Lift

Econet has launched a ride-hailing service in Harare, Zimbabwe called Vaya Lift. Vaya Lift’s app is already available on both Android and iOS. Eddie Chibi, the Cassava Smarttech Zimbabwe CEO, said that they already have drivers on the app. Full details on Digest Africa.

EIB to contribute €15M in equity towards AfricInvest’s €120M Growth Fund

In May, AfricInvest revealed its intentions to launch a €120 million startup focused fund. According to the European Investment Bank (EIB) filings, AfricInvest is about to secure €15 million of the target amount. Full details on Digest Africa.

Naspers commits to invest over $300M into South African tech startups

Naspers has announced that it will invest R4.6 billion (about US $315 million) into South African tech startups in the next 3 years. This will be through an initiative called Naspers Foundry. Full details on Digest Africa.

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