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All posts by Staff Reporter

  • Private equity returns up a whopping 123% in 2016 reveals Savca report

    South African private equity capital returns to investors were up 123.2% last year to R18.3-billion -- up from R8.2-billion in 2015, reveals the Savca 2017 Private Equity Industry Survey, released today. Tanya van Lill, CEO of the Southern African Venture Capital and Private Equity Association (Savca), said between 2015 and last year, trade sales were reported as the most popular exit route in value terms while sales to management were the most popular by volume. “The average proceeds per exit was R176.3-million in 2016, compared to R48.1-million in 2015. Realisations (returns to investors) in 2016 reflected a times money multiple of 2.0, an increase...

  • Deadline for Mastercard Start Path applications extended

    Mastercard today extended its call for applications from African fintech startups to its Start Path programme, the company said in a press release today. Applications for the next six-month virtual programme will be accepted until 1 August 2017. The initiative is open to fintech and tech start-ups from Africa and across the world who are shaping commerce by rethinking banking and payments and who are well established already, having raised a significant seed or Series-A round of investment. Read more: Mastercard’s Start Path is searching for innovative startups Start-ups accepted to the programme benefit from the knowledge of a global network of Mastercard experts, access to...

  • Cape Town startup WhereIsMyTransport in $1.5m in funding round

    Public transport data and technology startup WhereIsMyTransport has received a collective investment of £1.2-million ($1.5-million) from the Global Innovation Fund (GIF), Goodwell Investments and Bombardier. The investment has been secured as the Cape Town and London based company completes the digital mapping of informally run public transport in South Africa’s major metropolitan areas, the company said in a press release on Monday. In recognition of these achievements, WhereIsMyTransport earlier this month received the International Transport Forum “Promising Transport Innovation Award” and a place in the prestigious NewCities “Global Urban Innovators” initiative. 'We are delighted to welcome Global Innovation Fund, Goodwell Investments, Bombardier to...

  • Cell C’s new online reality show Hangman looking for SA’s next top innovator

    Cellular provider Cell C yesterday opened entries for Hangman, a new online reality show which aims to uncover South Africa’s top innovator, with R1-million in prize money. “Cell C’s strategic focus is around bringing relevance to the South African market through service offerings,” said Cell C CEO Jose Dos Santos, in a press release. “A key focus is providing value-added services and segmented content that is being consumed daily online. Customers are hungry for new, unique, fresh and entertaining content,” he said. With this in mind, Cell C embarked on producing the 10-part Hangman series which represents a new genre in unscripted entertainment and...

  • Mastercard Foundation opens call for African projects that address rural poor

    The MasterCard Foundation Fund for Rural Prosperity (FRP) in Nairobi yesterday launched a new competition to find and support providers of innovative and scalable financial products and services that improve the lives of poor people in rural areas of Africa. In a press release the fund said the 2017 competition will be open throughout the year with applications submitted and evaluated periodically. The first submission period will close for judging on 10 August. Unsuccessful applicants will be able to refine and resubmit their applications subsequently, along with new entrants in the competition. The Fund for Rural Prosperity will accept applications for innovative financial solutions...

  • SA animation studio scoops three awards for Revolting Rhymes film

    Cape Town based film company Triggerfish Animation Studios is celebrating. The producers of Adventures in Zambezia and Khumba scored a hat-trick this weekend with their new film Revolting Rhymes -- an adaptation of Roald Dahl and Quentin Blake’s classic book. The company won Best Storytelling at the Shanghai International Film and TV Festival in China, then Best Animation at the World Banff Media Festival in Canada, and finished off with the Cristal for Best TV Production at Annecy in France, the world’s premier animation festival. “With South Africa officially in recession, it’s more important than ever that our economy finds new avenues for growth,” said Triggerfish Animation CEO...

  • AIF reveals names of 10 shortlisted for $100,000 Innovation Prize for Africa

    The African Innovation Foundation (AIF) has announced the top 10 nominees for next month's 2017 Innovation Prize for Africa (IPA), which will take place in Accra, Ghana. The AIF on Thursday announced the names of innovators from nine African countries including the Democratic Republic of Congo (DRC), Egypt, Kenya, Liberia, Morocco, Nigeria, South Africa, Uganda and Zimbabwe. They include innovative solutions addressing challenges in agriculture value chain, health care, energy, communications, service industries as well as surveillance using drone technology. Now celebrating its sixth year under the theme “African Innovation: Investing in Prosperity”, the IPA -- which will be awarded on 18 July  -- offers...

  • Non-US startups have just over 10 days to apply to NUMA New York accelerator

    Startups looking at entering the US market have until 1 July to apply to NUMA New York. Startups will gain access to quality workspace, targeted events, corporate partnerships and connections to world-class experts. The New York based organisation is of the NUMA global network that fosters startup acceleration and innovation. In a press release NUMA said the 10-week programme, which begins in September, will be hosted at popular innovation hub Alley in midtown Manhattan. The programme is designed by serial entrepreneurs and innovators to help non-US startups scale in the US. Startups will be immersed into the local ecosystem and engage in a focused programme concentrating on either...

  • Lagos startups have 10 days left to secure spot at angel investing event

    Lagos startups seeking funding have just over 10 days left to apply to be part of the latest round of the Lagos StartUp DealDay. Interested startups must apply by 23 June, following an announcement posted last week on VC4Africa's website. Those that are selected will be able to pitch to various angel investors at the event, which is held three times a year by the Lagos Angel Network (LAN). VC4Africa said Lagos StartUp DealDay raised over 100 million naira ($310,000) from LAN members and the early stage investment community for Lagos startups during 2016. LAN partners for the DealDay are VC4A, the Africa Business Angel Network (ABAN), Lagos tech hubs,...

  • Data mining firm BrandsEye crowned winner of 2017 FNB innovation awards

    BrandsEye founder Craig Raw and the company's CEO Jean-Pierre Kloppers were announced as the overall winner of the 2017 FNB Business Innovation Awards held in partnership with Endeavor South Africa. “It’s a fantastic feeling, to be chosen as a winner among 12 amazing businesses, BrandsEye has been around for over 10 years, in that time we have done some really great work that has allowed us to continuously improve the technology that we use. “Winning this means we get to take a step further in globalising our offering” said Raw, in a press release. Read more: Innovation awards finalists announced 'What is special about BrandsEye is that we...