Kenya’s information and communication technology (ICT) companies that have been having a difficult time to raise money and grow financially, have a new financier.
Local businessmen have started a multi-million dollar fund to support investment in the sector, this is expected to help solve the debt problem financing on players.
Many ICT companies start-up with limited track records and this therefore makes it difficult for them to get financing from banks, which will help programes favor well-established companies with good financial track records.
The equity fund say it will specifically finance players in telecoms, media and internet sub-sectors to help connect the rural digital divide in Africa.
By IT News Africa staff reporter
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