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News

  • ‘Entrepreneur prize not bankrolled by Angolan sovereign wealth fund’

    Swiss Angolan entrepreneur Jean-Claude Bastos de Morais says his Innovation Prize for Africa (IPA) has not received any donation from Angola's sovereign wealth fund which his company manages. The (IPA) is an annual competition which honours leading entrepreneurs and innovators on the continent and is run by the African Innovation Foundation. Angolan President João Lourenço last week sacked former president Eduardo dos Santos's son José Filomeno dos Santos as head of the sovereign wealth fund. Dos Santos junior has a close relationship with Bastos de Morais, whose company Quantum Global manages Angola's sovereign wealth fund. 'The IPA is not related nor receives donations from the Angolan sovereign wealth fund...

  • Here are the 10 easiest places in Africa to run a business reveals World Bank

    South Africa is now only the sixth easiest country in Africa to run a business -- behind star performer Mauritius -- and has slid eight places to 82 out of 190 countries, reveals the World Bank's latest Doing Business report. The report, released yesterday, puts South Africa now behind the island country, Rwanda, Morocco, Kenya (up from 92 last year, to 80th spot) and Botswana. Among fellow emerging economies India shot up 30 places, to 100th spot, Russia gained five places to 35 -- while Brazil slid two places to 125 and China remained at 78. In addition South Africa has slid in the...

  • Last few hours to complete Ventureburn’s Tech Startup Survey backed by Telkom

    Startups have just hours left to complete the second annual Startup Survey — the Ventureburn Tech Startup Survey powered by Telkom Futuremakers — and stand a chance to win a business startup hamper powered by Telkom, BCX and Trudon or an iPhone 8, as well as and other great prizes. Ventureburn, in partnership with Telkom Futuremakers and analytics company Qurio launched the survey on 2 October. The survey closes at midnight (12am, 1 November). As of today 12pm 275 questionnaires have been completed in full, shows data from Qurio. A further 136 surveys were incomplete. ‘The Ventureburn Startup Survey will prove crucial in providing data on the challenges faced by South Africa’s tech...

  • Enter the 2017 Ventureburn Tech Startup Survey and win an iPhone 8, more!

    Ventureburn, in partnership with Telkom Futuremakers and analytics company Qurio, is proud to announce the launch of the second annual Startup Survey -- the Ventureburn Tech Startup Survey powered by Telkom Futuremakers. We are looking again to uncover the nuts and bolts of the startup sector and answer questions like: What are the major challenges facing the country’s entrepreneurs? What do South Africa’s startup founders look like? What sectors are startups more prevalent in? What types of funding are startups securing, and where are they getting their money from? Why are people flocking to startups to work there? Where is the most startup activity happening...

  • Startups have 10 days left to complete Ventureburn survey, win iPhone 8, more

    Startups have just over 10 days left to complete the second annual Startup Survey -- the Ventureburn Tech Startup Survey powered by Telkom Futuremakers -- and stand a chance to win an iPhone 8 as well as a business startup hamper powered by Telkom, BCX and Trudon as well as other great prizes. Ventureburn, in partnership with Telkom Futuremakers and analytics company Qurio launched the survey on 2 October. The survey will close on 31 October. Thus far 165 questionnaires have been completed in full. 'The Ventureburn Startup Survey will prove crucial in providing data on the challenges faced by South Africa’s tech startups' This year's survey follows the successful 2015 survey and aims to again...

  • Seedstars, Enel seeking energy entrepreneurs for Africa Energy Prize

    Global startup competition Seedstars  in collaboration with Enel Group, a global power company, have announced the creation of the Africa Energy Prize. The competition, which is aimed at African startups, is looking for startups that focus on increasing energy access. The collaboration, which was announced on 7 July, will form part of the existing annual Seedstars World Competition.  Seedstars and Enel representatives will evaluate startups' business models and the Enel team will announce the top finalists in December at the RES4Africa event. The winner will be announced at the global Seedstars Summit in Switzerland in April next year, whereupon they will enter Seedstars' three-month growth...

  • Agri-Vie Fund exit from Fairfield sees investors reap over three times in returns

    Investors in the $100-million Agri-Vie Fund I have scored big with the fund today announcing its first exit, from one of South Africa’s most respected dairy companies Fairfield Dairy. A private investment trust linked to the Lang family which founded the diary has agreed to buy Agri-Vie’s stake in the KwaZulu-Natal-based dairy producer. While the fund would not disclosed the sale figure, Agri-Vie co-founder and managing partner Herman Marais said the return on the investment exceeded the fund's objectives -- which is usually to return to investors between 2.5 to 3 times of the invested capital. The fund's initial investment of about $4-million in Fairfield diaries was made in 2009. Marais said...

  • 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...

  • TLcom Capital raises $40m for TIDE Africa Fund to support entrepreneurs

    London-based VC TLcom Capital has announced it has committed $40-million to the Technology and Innovation for Developing Economics (TIDE) Africa Fund. The VC fund's announcement, made last Thursday, of the injection of funds will help TIDE focus exclusively on entrepreneurs and startups from Sub-Saharan Africa. The $40-million was raised with the help of the African Development Bank and the European Investment Bank, which both committed $10-million each. Among other investors involved in raising the capital was Silicon Valley based Bob King, the founder of the Stanford SEED Institute. The fund will provide both capital and business support to startups leveraging mobile in markets such as financial services,...

  • Techpreneur Africa joins Abu Dhabi Global Market to promote fintech across Africa

    Social-entrepreneurial impact firm Techpreneur Africa has signed a memorandum of understanding (MOU) with Abu Dhabi Global Market (ADGM), an international finance centre. The MOU, signed earlier this week between the two parties, seeks to grow and support fintech initiatives in the Middle East and Africa. "The new partnership with Techpreneur Africa marks another achievement towards strengthening the connections between fintech communities and harnessing synergies in innovations and capabilities through global collaboration," said Richard Teng, the CEO of ADGM on Monday in a press release. ADGM's regulatory labs is a fintech sandbox which provides participants with a safe place to test their products and services, while...