AUGUST 09, 2018
Jack Ma, chairman of Alibaba Group Holding Ltd.
Photographer: Qilai Shen/Bloomberg
Alibaba Group Holding Ltd., China’s biggest online emporium, “will do anything to share technology” with Africa, founder and Chairman Jack Ma said.
“The opportunity in e-commerce in Africa lies in the fact that Africa is lacking logistics, infrastructure and payment systems,” Ma said at a conference in Johannesburg Wednesday, after he met South African President Cyril Ramaphosa and discussed implementing more favorable tax conditions for start-ups in the continent’s most-industrialized economy.
Ma has set aside $10 million for a fund for African entrepreneurs and said his next visit to the continent will be to Nigeria, the region’s most-populous nation.