DURBAN - Corporates can play a more significant role in working with small businesses to stimulate economic growth and job creation across the continent.
Standard Bank has partnered with Founders Factory Africa to grow businesses across Africa. In October 2017, Standard Bank became the first corporate investor in Founders Factory Africa
Nadia Oshry is a Senior Manager at Standard Bank’s Moonshots division which looks to launch new disruptive financial services businesses into the African market
Oshry said, "Founders Factory is a unique, corporate-backed incubator and accelerator model that was launched in 2016. In the UK, corporates such as L’Oreal, EasyJet, Marks & Spencer and Aviva have signed on and already benefitted from this model. Together, they have grown 96 start-ups across 20 countries and raised over GBP 117mil for the portfolio".
"Standard Bank with Founders Factory Africa will be launching and scaling 140 disruptive tech-enabled businesses across the continent within the next five years. It will also work towards enhancing the formal start-up culture in key African cities," added Oshry.