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  • SBC AfriTech, RCS to host Future Cities Hackathon in Cape Town

    Do you have an innovative and disruptive tech-based solution for water pollution and sanitation, sustainable cities and communities, as well as smart mobility? Cape Town based tech accelerator Startupbootcamp AfriTech (SBC AfriTech) has partnered with financial services provider RCS to host the Future Cities Hackathon in Cape Town on 1 and 2 March. The impact-oriented hackathon aims to solve three UN Sustainable Development Goals (SDGs) -- namely SDG 6 Clean water and sanitation, SDG 11 Sustainable cities and communities and SDG 14 Life below water. The Future Cities Hackathon aims to solve for three UN Sustainable Development Goals In a statement last Wednesday...

  • Company Office

    The importance of a co-working space for startups, what to consider when looking for one

    Brad Neuberg is widely credited as having founded the co-working space concept as we know it when he launched the first such space in 2005 in San Francisco. Since then the co-working movement has spread around the world and is now associated with innovation and tech startups. Benefits associated with co-working spaces range from affordability, opportunities for networking and collaboration, to hip amenities and services. But, just how important is it for startups to find a good co-working space? Schuyler Vorster (pictured above), director and founder of co-working company The Inner City Ideas Cartel, believes a good co-working space is “one of very...

  • French investor I&P says IPAE 2 fund ‘on track’ after €25-million second closing

    French impact investment group Investisseurs & Partenaires (I&P) says its new fund is on track to raise between €80-million and €90-million after last week having made a second closing of €25-million. I&P's Afrique Entrepreneurs 2 (IPAE 2) was launched in 2017, aims to invest equity and quasi-equity in between 30 to 40 startups and small businesses in West and Central Africa, East Africa and Madagascar by 2022. In a statement last Tuesday (12 February), I&P said new investors had joined the fund, with the new closing. These include the Belgian Investment Company for Developing countries (BIO), the Dutch Good Growth...

  • It’s a lie, says investor over Polish man’s Nigerian ‘Godfather’ blackmail claims

    A Polish entrepreneur who claims that his Nigerian business partners tried to blackmail him into paying $300 0000 by using an Interpol arrest, is spinning a lie -- says a Nigerian businessman. It follows Marek Zmyslowski's post last Thursday (14 February) on Medium that has rocked Nigeria's tech scene (see this story). In a post today on Facebook group Silicon Africa, Edmund Diddles -- who on Facebook lists himself as the CEO and founder of G-Pay Instant Payment Solutions and as living in Cambridge, Massachusetts -- alleges in a comment (see image below) that the Polish entrepreneur has been telling "a lie" and claims...

  • How Nigerian business partner tried to bribe, take over my startup – Polish man

    It reads like "a shitty Hollywood B" film. A Polish entrepreneur has caused a storm by claiming that his Nigerian business partners tried to take over his startup and that they used the police to try to arrest and extradite him to Nigeria, while trying to blackmail him of $300 000. Marek Zmyslowski's post last Thursday (14 February) on Medium has rocked Nigeria's tech scene. Days later, the hashtag #Marek was trending as eighth highest for Nigeria on Twitter on Saturday (16 February). Zmyslowski (pictured above) co-founded Jumia Travel, that quickly became one of the biggest hotel booking sites in Africa,...

  • Applications for Jack Ma’s Africa Netpreneur Prize to open in March

    Applications for the inaugural $10-million Africa Netpreneur Prize will open on 27 March and close on 30 June, the Africa Netpreneur Prize Initiative (ANPI) announced today. This, after the earlier application date was moved from 15 January. It's not clear why the date was moved forward.  The prize is an initiative of the Jack Ma Foundation. Over the next 10 years, the ANPI will host a pitch competition where 10 finalists from across the continent will compete for $1-million in total prize money. In addition, all 10 finalists will receive grant funding from the Jack Ma Foundation, as...

  • Cairo-based GoodsMart announces second investment from Algebra Ventures

    Cairo-based household shopping app GoodsMart today announced that it has secured its second investment from Egyptian venture capital (VC) firm Algebra Ventures. The deal was signed late last year. The shopping app also provides its users with a payments and delivery service. GoodsMart was founded in 2014 by CEO Amr Fawzi (pictured above) and Ahmed Sudan. In a statement today (18 February), the startup said the investment was made ahead of preparation for a Series-B round raise. In an email today (18 February), GoodsMart strategic project and partnership lead Nayra Elberry declined to disclose how much Algebra Ventures invested in the...

  • Top startup events in South Africa, Africa you should know about this week [17/2/2019]

    On Wednesday (20 February), Heavy Chef will host an event at Workshop 17 on how businesses can kick start their brand awareness and amplify their customer acquisition strategy. A similar event will also be held in Joburg on Tuesday (19 February). Two events of note take place in Johannesburg this week. The first is the Africa Energy Indaba on Tuesday and Wednesday (19 and 20 February) in Sandton. Looking to scale your business? Then you'll want to check out The Business Show on Wednesday and Thursday (20 and 21 February) at the Gallagher Convention Centre. In Cairo, the first heat of...

  • ‘Real projects will get African regulators to shift stance on crypto, blockchain’

    Entrepreneurs who help develop real projects on the blockchain is what is likely to drive African regulators to begin regulating cryptocurrency and blockchain. So, believes Nigerian Yele Bademosi, the director of Binance Labs, the venture arm of cryptocurrency exchange Binance. Bademosi is also the founder of Nigerian seed funding platform Microtraction, which has recently made several investments in startups in the West African countries (the most recent was in a healthtech startup -- see here). It's not clear why Bademosi took a job with Binance. In a phone call with Ventureburn last week, Bademosi (pictured above) said most African regulators...

  • Inclusive Fintech 50 initiative launched to identify top financial inclusion startups

    The MetLife Foundation and digital payments giant Visa have partnered to launch the Inclusive Fintech 50 competition which aims to recognise the world's top 50 early-stage fintech startups that contribute to financial inclusion around the globe. The competition -- which is held in partnership with global non-profit Accion and World Bank global development institution IFC -- will be implemented by MIX, the global data resource for socially responsible investors and businesses focused on inclusive finance. Applications will close on 8 March, while winners will be selected in May and announced in June. The Inclusive Fintech 50 competition aims to recognise the...

  • SA’s Xineoh in $500k funding round, as it eyes opening second Canada office

    SA tech company Xineoh has closed a $500 000 equity funding round and is now exploring opening a second office in Canada -- in Toronto -- the startup's CEO and founder Vian Chinner revealed today. The company, which Chinner (pictured above) founded in 2010 and uses artificial intelligence (AI) to predict customer behaviour, already has offices in Canada's Vancouver -- as well as in Johannesburg (it was formerly based in Bloemfontein). This follows the firm's announcement last December that it had closed a $1-million equity funding round, bringing the total funding the startup has secured in the last two months to...

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