The mobile network operator will invest between $75,000 and $250,000 at a time and will target mobile internet startups.
Kenya-based mobile network Safaricom launched a $1m corporate venturing fund on Wednesday that will fund IT and mobile app startups.
Safaricom Spark Venture Fund will provide between $75,000 and $250,000 in debt or equity to Kenya-based mobile information and communication technology (ICT) companies over an initial 2 year period.
TBL Invest, a firm based in the Netherlands that invests in Kenya and Pakistan, will act as fund manager.
Nzioka Waita, corporate affairs director for Safaricom, said: “Innovation is part of…
