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Visa Acquires South African Fundamo for $110m

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Tekedia Editors
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The card processing giant, Visa, acquires South African Fundamo for $110m, with cash. This is contained in a statement released by the company to news men in San Fransisco USA recently.

 

 

Visa Inc. (NYSE: V), a global leader in payments  is acquiring Fundamo, a leading platform provider of mobile financial services for mobile network operators and financial institutions in developing economies. It also announced a new, long-term commercial agreement with Monitise plc (LSE: MONI.L), a leading provider of mobile money solutions for financial institutions in more developed geographies.

 

 

The investments will accelerate the execution of Visa’s global strategy announced last month to provide the next generation of payments solutions, enabling consumers to transact wherever and whenever they choose, using a card, a computer or a mobile device with Visa’s reliability, security and global acceptance.  The combination of acquiring Fundamo and expanding the relationship with Monitise will enable Visa to deliver best-in-class mobile financial services and payments capabilities to consumers across the full spectrum of uses, geographies and mobile environments from basic services on simple handsets to more advanced services for smart phone owners.

 

 

Privately held, Cape Town, South Africa-based Fundamo has more than 50 active mobile financial services deployments across more than 40 countries, including 27 countries in Africa, Asia and the Middle East. Fundamo’s deployments currently have a base of more than five million registered subscribers and the potential to reach more than 180 million consumers with mobile financial services. Mobile prepaid payments provide affordable, convenient and secure transaction capabilities that are transformational to the lives of merchants and consumers in those regions.

Profile of The $50m Goodwell West Africa Fund

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Tekedia Editors
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Goodwell Microfinance Development Company is a Netherlands based social investment company which mobilizes capital for microfinance institutions (MFIs) through equity investments. Having successfully operated its first microfinance development company in India since 2006, Goodwell in 2009 launched a second investment company in West Africa.

 

The US$50.0 million West Africa Fund is to focus its investments in Nigeria and Ghana geographically. Other partners and co-sponsors of the Fund are:

  • · KFW;
  • · FMO;
  • · NM ; and
  • · other private investors

 

Part of Goodwell NL’s core strategy is to invest in entrepreneurial microfinance institutions with the goal of creating a substantial social impact and an attractive financial return. The key objective is to work with local partners to improve access to affordable financial services for millions of people at the ‘base of the pyramid’.

 

The Goodwell West Africa Fund operates with the principal belief that improving access to affordable financial services for people at the “Base of the Pyramid” contribute to sustainable development. This improvement can best be achieved by developing and scaling up entrepreneurial microfinance institutions. The established funds also provides commercial long-term capital and active support to start-up and growth phase microfinance institutions (MFIs) to kick-start and accelerate their growth and build value whilst maintaining their social focus.

Lenovo Chases Small and Medium Businesses With New Server Based on Intel “Sandy Bridge-DT” Xeon E3-1200 Processors

By
Ejiofor Agada
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China based IBM offshoot PC and Server maker Lenovo, is one of the first vendors to come out with entry-level tower servers aimed at small and medium businesses based on Intel’s “Sandy Bridge-DT” Xeon E3-1200 processors. The Xeon E3 chips are designed for single-socket servers and workstations. They were previewed by Intel back in March and started shipping in early April for both servers and for workstations with Intel’s HD Graphics 3000 GPUs embedded on certain models of the chips.

 

All of the chips have four cores except for the 20 watt E3-1220L, which has two cores. The remaining Xeon E3 models run at between 2.4GHz and 3.5GHz and have power draws of between 45 and 95 watts. The chips make use of the “Cougar Point” series of chipsets from Intel.

 

Lenovo was initially reselling selected models of IBM’s System x tower and rack servers in the wake of acquiring IBM’s PC business a few years back, but has been doing its own server design and manufacturing more recently. The company is also partnering with Intel to be an early adopter of the AppUp Small Business Service, which was announced in May and which brings cloud-style utility pricing for servers and applications to x64 servers installed at SMB shops.

 

Oddly enough, Lenovo is using an earlier ThinkServer TS200v tower server as the basis for its AppUp offering rather than the new TS130 and TS430 machines – marry that with the delays in deliveries of Sandy Bridge entry servers in the wake of the bug that was discovered in the Cougar Point chipsets back in January.

 

The TS130 tower server is based on the C206 version of the Cougar Point chipset, and like other Xeon E3 machines, only has four DDR3 memory slots on its system board. At this time, Lenovo only support 2GB or 4GB memory sticks in the box, for a maximum of 16GB of memory. Lenovo is putting ECC memory in the box for increased reliability, and is also using the RAID data protection cooked into the C206 chipset and SATA disk ports to provide mirroring for disks.

 

rffab – Raising Funds For African Businesses-

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Tekedia Editors
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rffab is a social initiative for creating financing opportunities for African businesses. rffab focuses on creating opportunities and an enabling environment for ordinary people seeking to climb up the business ladder but are challenged or constrained by the rigidities of conventional financial mechanisms.

 

We acknowledge getting funded can be critical to the success of any business, since capital allow businesses to develop and promote their products and/or buy necessary equipment. Receiving funding can be the difference between success and failure for a business.

 

rffab offers businesses the opportunity to access funding but encourage more responsibility and transparency as we jointly work together to build a more sustainable business environment.

 

Mission

To serve as an efficient channel to raise and distribute funds to businesses in sub Saharan Africa.

 

Target Businesses

Prudent businesses that contribute to building strong communities and improving quality of life. They should be socially and environmentally responsible.

rffab seeks to promote sustainable long term businesses while insisting on a positive impact on the bottom line. Our work helps tackle issues such as poverty and access to finance through our involvement in microfinance.

 

How it works

  • · Businesses/entrepreneurs submit their funding requests online

  • · Information are displayed on the website

  • · Potential investors browse through the list of requests and select their preferred choice

  • · Investors are connected with entrepreneurs/businesses

The funding is categorised into SME Financing and Micro Lending

 

JCS Investment Limited Is A Ghana Based Goodwell Partner – Good Source For Funds

By
Tekedia Editors
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We just found a funding company in Ghana for entrepreneurs. You can approach them for funding. They work with Dutch Goodwell Investment which invested in Nigerian Pagatech recently.

 

JCS Investment Limited is a Social Investment Organization licensed by the Securities and Exchange Commission as an Investment Adviser in Ghana. The company which was established in 2004 is focused on providing sustainable long term investments, optimum returns and ‘triple bottom line’ value to its shareholders. In other words,  it is working towards giving our stakeholders

 

  • Positive Economic Returns

  • Strong Social Impact

  • High Environmental Standards

 

With a dedicated team of analysts carefully selects investments and projects that can achieve positive impact, both for the Society and the Environment, this team delivers in its partnership with Dutch based Goodwell Investments. Their  choices of investments are researched in the Context of Sector Development within the Ghanaian economy. And the undertakes comprehensive due diligence to ensure prudent investments.

 

 

 

Mission

JCS is committed to providing an efficient channel to raise and distribute funds to businesses in sub Saharan Africa. We work closely with our Business Partners encouraging best practice, and helping revitalise Investment Businesses operating in the social sphere. We welcome partnership with prudent businesses that contribute to building strong communities and improving quality of life.

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