Intel Capital Targets African Continent
The world's largest chip manufacturer, Intel, is bringing its venture capital company to Africa to identify and fund promising technology companies. The first move for Intel Capital is to appoint Sam Mensah as its director for SA and sub-Saharan Africa.
Mensah is already familiar with the territory as he has initiated and led Intel's expansion into the region for the past six years in a bid to boost Intel's market share by promoting Africa's use of computers. "The move into Africa illustrates Intel's view that Africa as an emerging market will continue to unearth great business opportunities for us," he said.
"Intel Capital will seek out and make strategic investments, allowing innovative and home-grown technology companies not just access to our capital but also to our technological expertise and global network."
The organisation invests in innovative technology start-ups worldwide but it has not touched Africa before. At the end of last year it had an investment portfolio worth more than $2,1bn spanning hardware, software and services companies.
Since 1992 it has invested $7,5bn in about 1000 companies in 45 countries. Of those, 168 have listed on stock exchanges while 212 have been acquired or took part in a merger.