* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Safaricom to strengthen spark venture with new venture capital arms

July 14, 2023
in Technology
Safaricom to strengthen spark venture with new venture capital arms
Share on FacebookShare on Twitter

Safaricom already has an investment arm, Spark Venture Fund, which has invested in several local startups. However, there are plans to open additional programs that could complement the Fund. 

Safaricom has revealed a plan to enter the venture capital game by setting up two new subsidiaries. These subsidiaries will be tasked with identifying and investing in tech startups in Kenya. The telco hopes to inject capital into startups as part of its next growth frontier.

The establishment of the new ventures is subject to shareholders’ approval at the annual general meeting that will be held before the end of July. TechCabal will report on the development of the meeting.

It is unclear whether the two funds will replace Spark Venture Fund, a $1 million fund that invests in late-seed to early-growth stage tech startups in Kenya. However, TechCabal can report that the fund still exists, as it was mentioned towards the end of 2022. 

At that time, Safaricom’s chief business development and strategy officer, Michael Mutiga, reaffirmed the significance of the spark fund venture investment boost. The meeting brought together the media and involved an exchange with Safaricom CEO Peter Ndegwa. Mutiga’s statement emphasised the potential impact of Safaricom’s fund on emergent, young, and seed companies. He acknowledged the inherent risk involved, recognising that some ventures would succeed while others would not. Mutiga expressed hope that by offering diligent support and leveraging their network, Safaricom could contribute to the success of these companies, both financially and in other areas.

The fund was launched in 2014 and has invested in multiple startups, including Sendy, and Ajua, but received applications from over 200 startups.

The fund aims to support the successful development and growth of high-potential mobile tech startups in Kenya. The fund provides investment, business development support, and technical assistance to local and growing startups. The fund also takes advantage of the carrier’s unique capabilities, assets, and market positioning to help its investees scale.

Dipping profits

At the announcement of its end-year results, Safaricom’s management emphasised the importance of diversifying revenue streams to counter growing regulatory and operational costs. The telco also aimed to mitigate the decline in voice and messaging business. Safaricom reported a net profit of KES 52.4 billion ($370 million) for the full year ending March 2023, marking a 22.4% drop from last year’s earnings of KES 67.4 billion ($476 million).

Its launch in Ethiopia was also expensive after starting operations in October 2022. The telco is said to have invested $800 million and received a loan of $400 million for its operating license. The business is projected to break even after four years.

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2023/07/14/safricom-to-open-two-new-investment-arms/

Tags: Safaricomtechnologyventure
Previous Post

Bayer to present new Kerendia™ (finerenone) data from comprehensive clinical trial program across a broad range of patients with chronic kidney disease and type 2 diabetes

Next Post

Access Bank to acquire Standard Chartered’s subsidiaries in sub-Saharan Africa

How the Shallowing of the Caspian Sea Will Affect Kazakhstan’s Ecology and Economy – The Times Of Central Asia

The Disappearing Caspian Sea: Exploring Its Dramatic Effects on Kazakhstan’s Environment and Economy

June 10, 2025
NIH scientists call on director to protect biomedical research – NPR

NIH Scientists Call for Bold Action to Protect the Future of Biomedical Research

June 10, 2025
Commentary: Trump’s NASA cuts would destroy decades of science and wipe out its future – Los Angeles Times

How Trump’s NASA Cuts Could Derail Decades of Scientific Breakthroughs and Jeopardize Our Future

June 10, 2025

Costco Shoppers Are Loving the ‘Refreshing’ New Frozen Summer Treat That Was Just Added to the Food Court Menu – Yahoo

June 10, 2025
How a forgotten tape recorder led to Tunde Adebimpe’s debut album : World Cafe – NPR

How a forgotten tape recorder led to Tunde Adebimpe’s debut album : World Cafe – NPR

June 10, 2025
Spain’s economy to grow at steady rate, central bank predicts – Investing.com

Spain’s Economy Set for Steady Growth, Central Bank Forecasts

June 10, 2025
3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

June 10, 2025

Inside US Health Secretary Kennedy’s Bold Vaccine Strategies and Game-Changing Policy Moves

June 10, 2025
A Professor Was Fired for Her Politics. Is That the Future of Academia? – The New York Times

A Professor Was Fired for Her Politics. Is That the Future of Academia? – The New York Times

June 10, 2025
Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

June 10, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (680)
  • Economy (694)
  • Entertainment (21,599)
  • General (15,313)
  • Health (9,736)
  • Lifestyle (698)
  • News (22,149)
  • People (695)
  • Politics (701)
  • Science (15,912)
  • Sports (21,196)
  • Technology (15,680)
  • World (679)

Recent News

How the Shallowing of the Caspian Sea Will Affect Kazakhstan’s Ecology and Economy – The Times Of Central Asia

The Disappearing Caspian Sea: Exploring Its Dramatic Effects on Kazakhstan’s Environment and Economy

June 10, 2025
NIH scientists call on director to protect biomedical research – NPR

NIH Scientists Call for Bold Action to Protect the Future of Biomedical Research

June 10, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version