Safaricom Shareholders Approve Two New Subsidiaries to Empower and Invest in Tech Start-ups in Kenya - IT News Africa | Business Technology, Telecoms and Startup News

At Safaricom’s 15th Annual General Meeting , shareholders approved the creation of two new subsidiaries, marking a significant milestone in supporting tech entrepreneurs, fostering innovation, and solidifying Safaricom’s role as a vital enabler of Kenya’s tech community.Safaricom’s commitment to supporting seed-stage start-ups sees the incorporation of a company limited by guarantee, building on the success of the Spark Fund—an investment entity governed by a Board of Trustees.

This new subsidiary will serve as the primary investment vehicle for all strategic investments undertaken by Safaricom PLC.Safaricom CEO, Mr. Peter Ndegwa, emphasized the company’s commitment to empowering the tech ecosystem in Kenya and beyond. He explained that incorporating these subsidiaries is pivotal in achieving Safaricom’s purpose of becoming a purpose-led technology company.

Safaricom plans to launch a call for applications in the coming weeks to identify and back promising tech start-ups.The approval of the new subsidiaries received unwavering support from shareholders. Additionally, at the AGM, shareholders approved a final dividend of KES 0.62 per ordinary share, amounting to KES 24.84 billion.

The dividend will be payable on or about 31 August 2023 to shareholders on the Register of Members as of 28 July 2023.Despite operating amidst tough conditions, including increased regulatory scrutiny, changes in taxation policies, political uncertainty, economic slowdown, and other challenges, Safaricom exhibited resilience and delivered a solid overall performance during the year.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saving Money with AI - IT News Africa | Business Technology, Telecoms and Startup NewsProf. Mark Nasila, Chief Data and Analytics Officer in FNB South Africa Chief Risk Office delves into the topic on how artificial intelligence is an advantageous solution with AI-Powered financial services . AI Fintech savings FNB
Source: ITNewsAfrica - 🏆 27. / 59 Read more »

Introducing DFA Sponsor: Comcorp - IT News Africa | Business Technology, Telecoms and Startup NewsIntroducing one of this year's DigitalFinanceAfrica's sponsors Comcorp South Africa . The innovative software company will be showcasing their brand at the Gallagher Convention Centre on 2 August 2023 Fintech software
Source: ITNewsAfrica - 🏆 27. / 59 Read more »

5 Online Courses to Master AI Prompts - IT News Africa | Business Technology, Telecoms and Startup NewsThrow off the mindset that AI is replacing humans and embrace the new norm of working together with it in synchrony. Here are 5 online courses that can help you master AI prompts. AI artificialintelligence ChatGPT AIprompts onlinecourses
Source: ITNewsAfrica - 🏆 27. / 59 Read more »

7 Ways to Recognise Deepfakes Online - IT News Africa | Business Technology, Telecoms and Startup NewsDeepfake AI technology has emerged as a powerful and concerning trend in the realm of artificial intelligence. Here are several indicators that can help identify manipulated media AI technology DeepfakeTechnology SafetyTips MediaSafety security
Source: ITNewsAfrica - 🏆 27. / 59 Read more »

Steinhoff era draws to an end as shareholders vote to dissolve and delist the company | The CitizenThe once mighty Steinhoff 🏢has come to an end as shareholders vote overwhelmingly to dissolve the company📉🔒 Steinhoff MarkusJoost BusinessNews TheCitizenNews Read the full story⬇️
Source: TheCitizen_News - 🏆 6. / 75 Read more »