Private equity fund manager Phatisa has launched a financial app in response to global investor interest in Africa, which it says is "at an impressive high".
The free internal rate of return (IRR) app, which goes live today and targets professionals in African private equity, instantly calculates financial indicators.
Dubbed the Phatisa IRR Calculator app, the company says it enables users to make quick and critical decisions at the start of the investment process.
It comprises three variables - investment time period (in years), times money back multiple (such as three times the initial investment) and a resultant IRR. "While the key result of the app is to calculate IRR, a user can input any two of these three variables and get a result for the unknown or missing parameter," says Phatisa.
Senior partner at Phatisa Stuart Bradley says while the app will not replace detailed financial modelling required for investment evaluation, it gives an immediate answer that can help investors early on in the decision-making process. "It could be used as a quick check during negotiations with potential investee companies, during internal deal team discussions or while on the go."
The Phatisa IRR Calculator app includes a news platform and live feed exchange rate featuring major global and African countries.
According to Phatisa, its IRR Calculator app is the only African IRR app out of the top six IRR calculator apps in the Apple iStore.
The app is now available for devices running iOS 7 and Android 4.0 to 4.4, and requires 12.4MB of memory, although the company says this might increase with updated versions.
Phatisa is an African private equity fund manager, operating across sub-Saharan Africa, with offices in SA, Mauritius, Zambia, Kenya, Ghana and London.
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