FNB invests millions to boost tech businesses
FNB has announced a partnership with Silicon Cape which will see the bank inject R1 million per year for three years into funding business activity in South Africa.
FNB said the investment was its contribution to creating an enabling environment for SMEs in South Africa – particularly in the Western Cape.
Silicon Cape’s Alexander Fraser said that the endorsement was an “immense vote of confidence” for tech-entrepreneurs and every startup business everywhere in South Africa.
The Silicon Cape initiative is a non-profit organisation that aims to improve the ecosystem for tech businesses, by providing a platform for the community to collaborate, share resources, and amplify tech innovation.
To date, the initiative has been completely volunteer-driven and includes tech-entrepreneurs, developers, angel investors, and venture capitalists.
Silicon Cape has over 8,500 registered members and is one of the largest entrepreneurial networks in Africa.
“FNB’s backing will certainly bolster our efforts to build a better ecosystem for tech-entrepreneurs. This investment and long term commitment will enable Silicon Cape to scale and build additional value in our ecosystem,” said Fraser.
More on investment
SAP pledges $500 million investment in Africa
Terrorism a threat to African investment
Loading ...
