SA Entrepreneur Vusi Thembekwayo Announces Partnership With Kigali International Financial Centre
SA Entrepreneur Vusi Thembekwayo Announces Partnership With Kigali International Financial Centre. South African entrepreneur Vusi Thembekwayo has announced his partnership with Kigali International Financial Centre to create the Fintech Only Africa fund worth $50 Million.
Kigali International Financial Centre also took to Twitter to make the announcement and the post read, “#BreakingNews KIFC has announced the first FinTech only focused Africa Fund with an initial capital of US $50M in collaboration with @VusiThembekwayo! The Africa Fintech Fund will invest in growth start up fintechs in Africa.”
Kigali International Financial Centre is a financial centre that aims to transform Rwanda into an international financial destination for investors seeking opportunities across the African continent. It seeks to build a bright future for Rwanda and for Africa by transforming the investment landscape across the continent. Vusi Thembekwayo is a South African Global Business Speaker, private equity General Partner at Watermark Afrika operating out of Dubai, CEO of Sub-Saharan impact and venture investment firm MyGrowthFund Venture Partners & convenor of leading research boutique IC Knowledge Bureau.
This partnership seeks to make sure that the Fintech industry in Africa is developed in a way that it disrupts the old ways of doing things in the financial services industry. This will drive innovation as companies that come up with an ideas that will disrupt the financial services industry in Africa will earn the investment. The fund seeks to invest in growth fintech startup, this means that the fund sees the potential that the Fintech industry has to actually grow especially in Africa, where not many people have access to traditional financial services or institutions.
As much as this collaboration is helping fintech startups, it is also helping the society in an indirect manner as these startups will be creating much needed employment and easing the process of accessing quality financial services.
