Diaspora Kapita to invest in Jamboo
DIASporA Kapita is set to invest US$600 000 into Jamboo, a digital solution that provides banking and investment services to the African diaspora in the UK and Europe, in a move that will bring a ground-breaking African wealth and investment platform.
The collaboration between Jamboo and Diaspora Kapita will revolutionise the investment landscape, providing a gateway for global investors to access lucrative opportunities within African economies.
Now, the South African-based Diaspora Kapita, an investment firm, revealed its commitment to invest US$600 s000 in Jamboo during its capital raise in the first quarter of 2024.
Diaspora Kapita chief executive officer (CEO) Mr Vhusi phiri said the platform will enable those in the diaspora an investment opportunity and own assets. The platform, meant to bring financial solutions to Africans in the diaspora will enable them to transact in US dollar, British pounds and Canadian dollar.
“This collaboration will be key for Zimbabwean investors who are seeking exposure beyond the country’s borders.
“For diaspora investors, it presents an opportunity to invest in, and a chance to own assets aligned with capturing value across the African Diaspora, aiming to transcend mere remittances and truly own the value chain,” he said.
The Jamboo platform was designed to give Zimbabweans and other Africans in the diaspora the flexibility to grow their money and access it whenever they need.
“Diaspora Kapita is a reputable company and this partnership will unlock a myriad of opportunities, providing a seamless avenue for the African diaspora to strategically invest their money and actively participate in shaping the economic landscape of the continent,” said Jamboo CEO Mr Takwana Tyaranini.
“This innovative partnership underscores a commitment to fostering financial empowerment and growth within the African community, ushering in a new era of investment possibilities,” he added.
So far more than 2 000 people have expressed interest to be beta testers for the Jamboo application.
recently, the demo app was sent to over 300 early stage investors and the company is looking forward to further enhancing the features and the framework before officially launching it.
With Zimbabwean diaspora remittances alone exceeding US$2 billion, this initiative is expected to contribute significantly to the overall remittances to Africa, which now surpass US$100 billion.
Meanwhile, the digital solutions provider has already built a strong team to drive the initiative towards wealth creation by Africans in the Diaspora. In light of this, Jamboo has appointed banking executive and former CEO of First Capital Bank Mr Ciaran McSharry to its board.
With a proven track record in the financial sector and a reputation for driving sustainable business profitability, Mr McSharry brings a wealth of experience that will support the company to revolutionise digital banking and investment for the African Diaspora in the UK and Europe.
Jamboo, which is set to officially launch in April aims to be at the forefront of digital innovation and Mr McSharry is expected to play a pivotal role in the company’s mission to provide cutting-edge digital financial solutions tailored to the unique needs of the African diaspora community.
Mr Tyaranini said the appointment of Mr Mc Sharry to the board was a milestone for Jamboo that will enable the digital solutions provider spot trailblazing opportunities in the marketplace.
Commenting on his appointment, Mr McSharry said: “I am excited to join Jamboo at such a pivotal stage in its journey. The company’s commitment to innovation and drive to deliver high-impact digital solutions attracted me to this role. I look forward to collaborating with this talented team and contributing to the company’s continued success.”
A seasoned executive with over 20 years of experience in the banking and investment sector; operating as managing director at several global entities such as Barclays and Merrill Lynch, he was instrumental in driving business transformation and ensuring sustainable profitability.