A-
A
A+
(Dec 13): Earlier this month, Jack Dorsey, co-founder and CEO of financial technology, or fintech, giant Square triggered quite a kerfuffle when he announced that he would take three to six months’ leave travelling across Africa next year. Dorsey, who recently spent time in Nigeria, Ethiopia and Ghana, is also CEO of social network Twitter and the only person who runs two listed tech companies. Shares in both firms plummeted as talking heads and corporate governance experts took to financial media, and even Twitter, to voice their concerns. Although the two stocks have since rebounded, the episode inadvertently highlighted Square’s long-term potential as a huge disruptor in emerging markets from Africa to Latin America to Asia, where financial infrastructure is less developed even though the bulk of the firm’s revenues currently come from the US.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $4.99/month*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

SUBSCRIBE NOW