Naspers to invest US$96million funds to boost South African tech plants.

A logo sits on display inside the headquarters of Napsters Ltd., at the Media24 Ltd. office complex in Cape Town, South Africa, on Thursday, May 7, 2015. South Africa lacks a coherent economic policy and government departments are failing to work together, said Koos Bekker, billionaire and chairman of Naspers Ltd., Africa’s biggest company. Photographer: Halden Krog/Bloomberg

The big picture: Naspers a multinational internet and media group headquartered in South Africa, offering services in more than 130 countries to invest $96million US over the 3 coming years to boost SA tech firms in South Africa. This was reported last week.

One of the largest technology investors in the world Naspers a global internet and entertainment group to invest US$96million (R4.6Billion) funds to boost South African tech plants.

This was announced In an initiative by Naspers called Naspers foundry which took place in South Africa’s capital city Johannesburg at the inauguration of the South Africa investment conference.

The funds that Naspers wants to invest are to help tech firms that are looking forward to finding solutions to big societal needs.

With operations and investments in more than 120 countries and ventures around the world, Naspers by its CEO Bob van Dijk also said it is aiming to encourage entrepreneurs to create businesses to ensure that South Africa benefits from the innovation.

Naspers has many partners and ventures in different sectors of technology. According to the CEO of Naspers “The group started in South Africa and understands the innovative and entrepreneurial spirit of South Africans”.

In addition, he said “We believe the best ideas often start locally, with passionate entrepreneurs starting businesses that meet the needs of the communities they know best. And when those needs are universal across the markets we know well, with the right backing, there is the future potential for their businesses to grow beyond their home market.”

Naspers plans to invest over R4.6 billion, R3.2 billion in existing tech firms and the rest in Naspers foundry.

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