2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • du Cap Collection
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • Naspers Are Spending Big Bucks On Local Tech Start-Ups

    29 Oct 2018 by Jasmine Stone in Business, South Africa, Tech/Sci
    Related Posts
    • The Crazy Naspers / Eskom Stat That Has Investors Worried
    • Tuesday Morning Spice
    • The Quest To Live Longer Is Looking Positive - With Big-Name Investors Involved
    • Map Charts Cost Of Starting A Business Around The World
    • Wednesday Morning Spice

    As a sign of support, and in an effort to attract new investors to the country, Naspers announced that it will spend R4,6 billion on new and existing technology companies.

    There’s plenty of cash to go around, given that Naspers is Africa’s biggest company by market value. R1,4 billion of that earmarked money will be put towards local start-ups, and the rest will go to Naspers units including online retailer Takealot and OLX.

    According to Fin24, “cash for new businesses will come from an initiative called Naspers Foundry, the Cape Town-based firm said in an emailed statement on Friday”.

    TechCentral with a statement from Naspers CEO Bob van Dijk [below]:

    “As well as providing much needed funding, Naspers Foundry will help talented and ambitious South African technology entrepreneurs to develop and grow their businesses…Technology innovation is transforming the world. The Naspers Foundry aims to both encourage and back South African entrepreneurs to create businesses which ensure South Africa benefits from this technology innovation,” he said…

    “The group started in South Africa and understands the innovative and entrepreneurial spirit of South Africans,” said Van Dijk in a statement. “We believe the best ideas often start locally, with passionate entrepreneurs starting businesses that meet the needs of the communities they know best. And when those needs are universal across the markets we know well, with the right backing there is the future potential for their businesses to grow beyond their home market.”

    Good news for start-ups looking for funding. Let’s just hope that funding is giving wisely, and with some sort of mentorship as well.

    According to Naspers CFO Basil Sgourdos (great name), that’s the plan:

     “When we invest in an entrepreneur, we are able to bring much more to the table than just funding: we understand what it’s like to build and grow tech businesses, and we share that knowledge to help them succeed. We also recognise the important role that local businesses can play in boosting local economies, which in turn boosts the wider South African economy. That’s why a significant portion of the Naspers Foundry investment will be focused on black-owned South African start-ups.”

    Quick Monday idea – how about an app that tells people when they must just leave you alone and give you space? Somebody, please get on this.

    [sources:fin24&techcentral]

    • ← US Mail Bomb Suspect’s Social Media Posts And How They Caught Him
    • Watch NASA Drop 1,7 Million Litres Of Water [Video] →
    • Tweet
    • Tags:
    • naspers
    • start-ups
    • startups
    • tech business

    Latest News

    • Egypt’s Oldest Mummy Found ‘Covered In Gold’

      [imagesource:twitter/enca] After nearly a year-long excavation, Egyptian archaeologists...

    • Succession Season 4 TEASER: Logan Roy’s Kids Take On Media Mogul AGAIN [Video]

      [imagesource:twitter] Fans of the hit HBO series Succession are in for a treat. HBO has...

    • Michael Schumacher’s Friend Tried To Sell Secret Pic’s For £1million

      [imagesource:wikicommons] According to an article in Express, a friend of Michael Schum...

    • Checkers Is Trying To Lure Expats Back To SA By Proving Life Is Better Here

      [imagesource:shopriteholdings] Retail giant Checkers have launched a series of adverts ...

    • Protect Your Crowning Glory With These Phenomenal Hair Loss Treatments

      [imagesource: Everyday Health] The average human scalp contains about 100 000 hairs and...


    • 2oceansvibe Partners

    • CONTACT US
    • GOT A HOT STORY?
    • 2oceansvibe Radio
    • 2oceansvibe Media
    • Media Pack
    • Seth Rotherham
    • Café du Cap
    • Cabine du Cap
    • Cape Town City Accommodation
    • Terms & Conditions
    • Business
    • Media
    • Entertainment
    • Tech/Sci
    • World
    • Travel
    • Lifestyle
    • Sport
    • Politics
  • Follow

    2oceansvibe.com is part of the 2oceansVibe Media Group

    DMMA Logo