Former Apple CEO Launches Early-Stage Startups Angel Investor In Africa
A former CEO at Apple and former VP and President at Pepsi-Cola, John Sculley was at iHub Nairobi when he made the announcement of the launch of Obi Ventures in Africa. The venture capital seeks to invest in emerging and promising startups emanating from the developing markets. Sculley also unveiled Obi Mobiles’ range of inexpensive Android smartphone tailor-made to the budget of the average income earner in the emerging markets.
“We have launched Obi Ventures to invest in early stage startups but we shall be highly selective,” said Sculley.
Image Credit: Twitter @thiskenyan
The launch of Obi Mobiles in Kenya comes soon after Sculley launching the same mobiles in India just recently. The company seems to be targeting the growing market for smartphone in emerging economies across Africa, Middle East, India and Latin America. The company prefers these markets compared to the United States market. Since users in these markets can buy up to two phones in one year, while the typical American will only purchase a phone after two years, due to the contracts they enter with mobile network operators.