Diaspora Kapita, a prominent investment company, announced its intent to invest $600,000 in Jamboo during its capital raising process in the early months of 2024. This strategic investment will position Diaspora Kapita at the forefront of establishing a pioneering wealth and investment platform focused on Africa.
Jamboo is an innovative digital solution that offers banking and investment services to members of the African diaspora residing in the UK and Europe. It is unique as it is the first digital platform of its kind to cater to the financial needs of this demographic.
Vhusi Phiri, the CEO of Diaspora Kapita, stated that the partnership will serve as a pivotal element for Zimbabwean investors looking to expand their investment horizons beyond their national borders. The collaboration also offers an exciting opportunity for diaspora investors, enabling them to engage in, and acquire assets that are pervasively capturing value throughout the African diaspora. The aim of this endeavor is to move beyond mere remittances and secure more comprehensive ownership of the value chain.
Takwana Tyaranini, the CEO of Jamboo, stated that partnering with Diaspora Kapita, a renowned company, will unlock numerous opportunities. This collaboration provides a streamlined pathway for the African diaspora to strategically invest their funds and actively contribute to shaping Africa’s economic landscape. This innovative partnership reflects a commitment to promoting financial empowerment and growth within the African community, heralding a new era of investment possibilities.
The Jamboo app is designed to offer users the flexibility to grow their funds and access them whenever needed. Currently, over 2000 people have shown interest in becoming beta testers. The demo app has already been distributed to over 300 early-stage investors, and the company is looking forward to improving its features and framework before its official launch.
This collaboration between Jamboo and Diaspora Kapita could transform the investment landscape, serving as a gateway for global investors to access lucrative opportunities within African economies. With remittances from the Zimbabwean diaspora alone exceeding $2 billion, this initiative makes a significant contribution towards overall remittances to Africa, which now surpass $100 billion.
