Bngr Digitizing Governments Boosts Business Trade, Digital Payments Across Africa
A lack of seed investments continues to prove a challenge in Africas venture capital space, despite increasing signs of improvement in recent years. In 2019 and 2020, only 7% of all capital went into seed companies, a figure which grew a year later to about 15% $5 billion in 2021. We are seeing a gradual increase because you need capital at the beginning [stages] so that companies can grow and scale, acquire customers and develop in order to access where the majority of the capital is, Janade Du Plessis, general partner at pan-African venture capital VC fund Launch Africa Ventures, told PYMNTS in an interview.Of the $5 billion that was invested in Africas VC spac
stanley cup e last year, the majority of the investment went to the regions
stanley mugs top recipients of venture capital including Nigeria, Kenya, South Africa and Egypt.And of that amount, 60% went to later-stage investment rounds like Series A, Series B and Series C, highlighting the need for more capital at the seed stage, where it can take founders up to 18 months to raise between $500,000 and $2 million. Its almost like a relay race. You need enough angel investors, enough seed investors and then
stanley usa they can go into your venture funds, Du Plessis explained.To help founders jump-start their young businesses, Launch Africa Ventures offers investments of up to $300,000, while providing access to investors to invest alongside the fund, which together can generate between $600,000 to $750,000 seed-stage funding for a startup.Tough World Uesy Viventium Integrates Early Wage Access Via DailyPay
The Reserve Bank of India has made several public shows of support for digital payments and for going cashless 鈥?even for blockchain. But the latest from the RBI warns India to be wary of bitcoin.Reports Friday Feb. 3 said the RBI issued a new notice to users of bitcoin that warn them that they should be extremely cautious when transacting using the digital currency. Its a warning worth noting, reports said, considering India seems to be on the forefront of digital currencies. Last month, the RBI released another notice that pinpointed blockchain and digitizing the rupee as ways聽to make potentially major progress toward goals of a digital economy.But the RBIs focus to caution against the use of bitcoin seems to have more to do with security and a lack of regulation in the space. The Reserve Bank of India advises that it has not given any license/authorization to any entity/company to operate such schemes or deal with bitcoin or any virtual currency, the bank stated. As such, any user, holder, investor, trader, etc. dealing with virtual currencies will
stanley website be doing so at their own risk. A lack of regulation in the area of bitcoin and digital currencies isnt going unnoticed by the bank. In 2013, the RBI announced that it was exploring the use of digital 鈥?including bitcoin 鈥?to facilitate trade and transactions, reports said. But even then, the RBI was concerned about security. The creation, trading or usage of VCs [virtual currencies], including bitc
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