Mo Ibrahim is the billionaire founder of African telecommunications operator Celtel, which he sold in 2004 for $3.4 billion. But when Ibrahim started the company in 1998, he couldn't get funding.
Mo Ibrahim is the billionaire founder of African telecommunications operator Celtel, a business that helped to bring mobile telephony to the continent, and one which he sold in 2005 for $3.4 billion.
Part of the problem was a perception that African countries were corrupt. Ibrahim recalled a time when an American contact said it was unlikely his company's board would invest in Uganda because Idi Amin was running the country. But Amin had left Uganda 15 years previously."If that was the perception of Africa, nobody's going to invest in Africa," Ibrahim told CNBC's"The Brave Ones.
It's also costly."Typically, you get at least 50% funding from the banks … we could not get any … We in Africa had to build the company with equity, with our money, because the banks not touch us. That was the picture at that time," he added.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
A Bill Gates speech inspired Zoom founder to start an internet business—now he's a billionaireZoom founder dreamed of coming to US after hearing Bill Gates speak — now he's a billionaire via CNBCMakeIt
Leer más »
T-Mobile is launching its mobile-first bank account to all US consumersT-Mobile Money, the wireless carrier's mobile-first bank account offering, will launch to all US consumers after a pilot that began last November.
Leer más »
The Billionaire's Golden Goose, Pinterest's Forgotten Founder, The New Airbnb: Your Daily Dozen Briefing
Leer más »
Zoom's China-born founder vaults to billionaire status after whiz bang IPOEric Yuan finally made it to the U.S. and is now the major shareholder of video-conference services firm Zoom Video Communications, which raised $751 million this week. Yuan and his family's stake was worth $3.2 billion in afternoon trading Thursday.
Leer más »
Facebook and Google scandals have made recruiting easier for start-ups with a strong social missionTraditionally, it's been a huge challenge for health-tech and ed-tech companies to recruit tech talent from Facebook, Google and the other big tech companies.
Leer más »
Bank 4.0 Will Be All-Digital, Low-Overhead, Mobile-FirstTraditional banks with big branch networks, large staffs and old technology will die if they don't get digital and mobile, and fast, says Brett King.
Leer más »
China's Tencent backs Argentina mobile banking startup UalaChinese tech giant Tencent Holdings Ltd has invested in Argentine mobile banking...
Leer más »
China and India will become asset management 'powerhouses,' top fund manager saysChina and India are poised to become 'real powerhouses' for the asset management industry, Standard Life Aberdeen Vice-Chairman Martin Gilbert told CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia.
Leer más »
Exclusive: Banks shun Tereos attempt to secure wider funding - sourcesAn attempt by French sugar group Tereos to spread risk on a 250 million euro ($2...
Leer más »
Britain starts search for next Bank of England governorBritain's finance minister Philip Hammond began the search for a new govern...
Leer más »