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Strive Masiyiwa to raise R8.5bn to grow digital business

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Masiyiwa wants to expand from cybersecurity to payment services in a region that lacks digital infrastructure

Zimbabwe-born billionaire Strive Masiyiwa, who runs firms including Africa’s largest fibreoptic cable network, plans to raise as much as R8.5bn to expand his digital infrastructure and services businesses.

The tycoon’s Cassava Technologies will tap investors including venture capital firm C5 Capital Management for the financing plan, Hardy Pemhiwa, CEO at Cassava, said in an interview. The company signed a deal on Friday to raise $50m from C5 Capital...If you have already registered or subscribed, please sign in to continue.

 

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