(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.
To contact the reporter on this story: Loni Prinsloo in Johannesburg at lprinsloo3@bloomberg.net
To contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Ana Monteiro, Andre Janse van Vuuren
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