Kenyan telecoms operator Safaricom (SCOM.NR) and Japan's Sumitomo Corp. (8053.T) have created a platform for supporting start-up companies, they said on Wednesday.
Safaricom Ethiopia employees walk past a billboard during the Safaricom ceremony to officially launch its operations in Ethiopia, in Addis Ababa, Ethiopia, October 6, 2022. REUTERS/Tiksa Negeri/File PhotoAlthough African economies like Kenya were in the past seen as the next frontier for start-ups especially in the technology sector, entrepreneurs faced issues including lack of financing and proper market strategies.
Both companies have been joined by M-Pesa Africa in the venture that is called Spark Accelerator, they said. M-Pesa Africa manages Safaricom's M-Pesa mobile financial services platform.
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