LONDON – Diaspora Kapita, a leading investment firm, has revealed its commitment to invest US$600,000 in digital banking platform Jamboo during its capital raise in the first quarter of 2024.
This strategic investment will place Diaspora Kapita at the forefront of creating a groundbreaking African wealth and investment platform.
Jamboo is the first-of-its-kind digital solution that provides banking and investment services to the African diaspora in the UK and Europe.
Vhusi Phiri, CEO of Diaspora Kapita, said: “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.”
Takwana Tyaranini, CEO of Jamboo said: “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.
“This innovative partnership underscores a commitment to fostering financial empowerment and growth within the African community, ushering in a new era of investment possibilities.”
The Jamboo app has been designed to give everyone the flexibility to grow their money and access it whenever they need. So far more than 2000 people have expressed interest to be beta testers.
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.
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.
With Zimbabwean diaspora remittances alone exceeding US$2 billion, this initiative contributes significantly to the overall remittances to Africa, which now surpass US$100 billion.