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Africa

  • Who will win the battle of Nigeria’s online classifieds?

    First it was ecommerce with Jumia and Konga fighting neck-to-neck, then the attention went to the online marketplace space with the likes of Kaymu, this is followed by learning -- remember PrepClass, Tuteria, Tutor.ng, NearTutors. It now appears that the latest space that foreign-founded companies are eyeing in Nigeria is the classified ads. In other words, the battle to create Nigeria’s Craigslist is on. Classified ads are not entirely new in Nigeria thanks to the popularity of Craigslist in the country -- especially among the early internet savvy demographic. However, the inability of Craigslist to fully localise its platform to allow...

  • The Duke of York, President of Nigeria start African Entrepreneurship Programme

    The African Entrepreneurship Programme (AEP) has been created in partnership by the UK's Pitch@Palace and The Global African Investment Summit (TGAIS). This venture aims to further develop the African private sector while stimulating innovation and technology throughout the continent. Much like similar entrepreneurship programmes, AEP will allow businesses the opportunity to present and connect with potential investors. This will help open doors to them, which would normally be closed or difficult to open. A chosen top three entrepreneurs will present their business proposals to an audience of potential investors, mentors and CEOs at the Pitch@Palace event at Central Hell Westminster, London 1...

  • 3 African countries that show investment promise as global tech hubs

    Over the past decade, countries such as South Africa, Kenya, and Seychelles have emerged as Africa’s tech hubs. Kenya is increasingly touted as the Silicon Savannah, owing its position to technologies like M-Pesa and Ushahidi being exported worldwide. Chances are that Kenya and South Africa will hold onto their leads in the African tech industry in the near future. However, with the growing focus on mainstreaming information and communications technology, Africa is creating new tech hubs that are worthy of consideration by investors. Rwanda Rwanda recently ranked fourth in networked readiness in Africa, behind only Mauritius, South Africa, and Morocco — all considered more developed economies. This ranking is of little surprise; Rwanda has an ambitious blueprint for developing ICT. The...

  • Q&A: How Kaymu is helping thousands of Nigerian SMEs move to the cloud

    Ecommerce is a big deal in Nigeria. Several SMEs are considering it as an option to reach bigger markets without expanding their office space. But the complexity of the technology behind running an efficient ecommerce platform, in addition to the high cost of marketing, make ecommerce a future pain for SMEs. But Kaymu, an online marketplace, makes it possible for SMEs to realise their ambitions. Over 40 000 SMEs in various parts of the country are already on the platform, and thousands are joining each week. I caught up with Evangeline Wiles, who's the MD of Kaymu Nigeria, recently at the...

  • Lessons learned on building a pan-African network of angel investors

    The following article is by David van Dijk who is part of the team behind African Business Angels Network (ABAN), a pan-African association that seeks to promote a culture of Angel investing across Africa. On 13 August, the second in a series of Angel Investor Bootcamps leading up to the ABAN Investor Summit at DEMO Africa was hosted in Nairobi, Kenya. The Bootcamps are organised by the African Business Angel Network (ABAN) in partnership with VC4Africa, Intercontinental Trust and the LIONS Africa Partnership. The Nairobi edition was hosted together with Viktoria Ventures and the iHub. Master-class by ‘European Angel Investor of the year’...

  • Top 20 finalists announced in PwC Vision to Reality awards programme

    The top 20 finalists in PwC's Vision to Reality awards programme have been announced. The companies chosen have not only made a difference in Africa with sharing their vision but were able to create revenue growth in their industry. Each is a dynamic and emerging company, which have shown successful growth and are some of Africa's most outstanding tech companies. PricewaterhouseCoopers (PwC) Partner in charge of the Western Cape region, Danie Fölscher, reiterates this: These businesses’ ability to inspire others and ignite a business from the start-up phase to leader in industry is a significant achievement Read more: PwC Vision to Reality 2015 is looking for...

  • SA comparison site Click n Compare sets up shop in Nigeria, Kenya

    South Africa-based comparison website Click n Compare has expanded to Nigeria and Kenya. This comes after achieving strong month-on-month growth of 40% in its home country. It's also expanding its advisory board with impressive additions from Nigeria-based iROKO and Ringier. Click n Compare is an online platform that lists various services, such as insurance, mobile, broadband and banking. Customers can easily navigate and compare different plans and prices that suit their specific needs. The co-founder and CEO of the company, Ryan Marx, added in a press release: Click n Compare's unique value proposition is the fact that we have positioned ourselves directly...

  • Supermart.ng: Nigerian ecommerce industry needs more players

    Even though ecommerce platforms are springing up everywhere across Nigeria, an expert believes the country still needs more players in the indsutry. This notion is against strong concerns about the saturated nature of the ecommerce market in Nigeria with so many big players already competing for their share of the current online shopping boom. According to Raphael Afaedor, the managing director of Supermart.ng, the ecommerce market in Nigeria is not yet saturated and there is need for more entrants. Speaking on the state of the ecommerce in Nigeria, Afaedor said that it's important for each of the businesses to carve a...

  • Finalists announced for 2015 She Leads Africa pitch competition

    The She Leads Africa competition has announced its top six finalists for the 2015 Entrepreneur Showcase event. Taking place between 25 to 26 September in Lagos, Nigeria, the finalists will pitch to a panel of judges and compete for the grand prize. Apart from first place receiving US$10 000 in cash, direct access to investors, and international media exposure, second place will receive US$5 000 while third place will receive US$1 000. She Leads Africa will also invest between US$25 000 and US$50 000 in two of the top five businesses. This investment is meant to allow for further expansion for the...

  • Convergence Partners announces $20m investment to stimulate tech in West Africa

    Pan-African investment management firm Convergence Partners has announced an investment of US$20-million for a minority stake in Venture Garden Nigeria (VGN), a tech investment holding company operating in the West African country. VGN is dedicated to support companies that provide innovative, data-driven, end-to-end technology platforms. Its portfolio currently consists of education company EduTech, software developer Splashers Technologies and gifting platform SureGifts, among many others. Read more: SureGifts is Nigeria’s premier gift card startup targeting the corporate world Founded in 2006, Convergence Partners is an investment management firm focused on the telecommunications, media and technology sector in Africa. The firm has played leading roles...