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News

  • RainFin concludes 30% equity transaction with LeBashe

    Fintech solution RainFin has announced the conclusion of a 30% equity transaction of an undisclosed amount with The LeBashe Investment Group. "After reviewing a host of investment opportunities, we think that there is an excellent strategic fit between RainFin’s unique value proposition and potential to scale, and LeBahse’s vision to build a pre-eminent black-owned financial services business, which is accessible to all," said spokesperson for LeBashe Investment Group Warren Wheatley. LeBashe's portfolio already consists of a diverse portfolio of stakes in Capitec, and Aluwani Capital among others. As of the end of November, LeBashe has revealed that its asset position stood in excess...

  • Ventureburn is looking for its next editor

    Ventureburn.com is seeking a talented and driven startup-savvy news writer & editor who lives and breathes startups. We're looking for someone dynamic and dedicated to become part of our exciting company based in Cape Town, on a full-time basis. Job details Writing news & feature stories about the continent’s startup story, including conducting interviews with some of the top and emerging entrepreneurs and VC's in South Africa, as well as the rest of the continent. Network with some of the best entrepreneurs in Africa. Attending startup events and sniffing out scoops Subbing, headline writing Managing contributors and topics list Based...

  • 88mph breaks silence, announces investment in flight booking app

    Investment company 88mph, has announced its investment in Ahoy, a flight booking and management app for small businesses. The announcement came via a post on LinkedIn, written my 88mpb Founder, Kresten Buch. It did not state how much was invested in the startup. The investment in Ahoy In the announcement, Buch states that 88mph had trouble over the past few years when travelling around Africa. These issues came from problems with travel agents, flight changes and cancellations, and fraud flagging, among others. "This is of course not only an African problem, but managing travel around and into Africa for teams, with last minute needs, not...

  • Entrepreneurs to compete for Agripreneur of the Year title

    The Global Agripreneurs Summit will see innovative 'agripreneurs' compete at the third Future Agro Challenge (FAC) Global Championships during the Global Entrepreneurship Congress (GEC). The competition and take place on 12 -15 March in Johannesburg and will host entrepreneurs in the food, agriculture, and aggrotech, all of whom will compete for the title of Agripreneur of the Year. In a space of three years, the FAC has gained support from more than 60 countries and five continents, to identify viable solutions for food supply chain challenges. "The food chain is broken. We need a bottom-up approach to identifying new and sustainable solutions to current and...

  • Endeavor SA’s high-impact entrepreneurs affecting job creation

    The entrepreneurial initiative, Endeavor SA, has recently concluded a study showing how its high-impact entrepreneurs affect job creation within the country. "Our results show a decade of phenomenal financial and job growth with approximately 21 000 jobs created by Endeavor South Africa companies since 2004," said the MD of Endeavor SA, Catherine Townshend, in a press release to Ventureburn. "This is an indicator of a community that is growing and gaining momentum, and we are excited to see Endeavor South Africa fast becoming an enabler of positive change," she continued. In 2007, it launched an accelerator aimed at black-owned startups which demonstrated...

  • Moroccan fund launches to help African startups

    Morocco-based seed fund Outlierz, has launched and aims to provide smart capital to African startups. The organisation looks at startups with an MVP or an executable prototype, who are in the pre-seed or seed stages. They should also have a ticket size between US$50 000 to US$200 000. Startups also looking to raise seed or Series A round funding are also eligible. Outlierz will also provide startups training tools, such as advice and access to its network. "We started from a simple yet striking conclusion: too many startups fail at the pre-seed and seed stages because of a lack of appropriate resources. We...

  • Eduardo Saverin in $25m funding for insurance and wellness marketplace

    Rosaline Koo made a huge bet with CXA. Not long after she started up the healthcare products marketplace, it acquired Singapore’s third-largest homegrown insurance brokerage, Pan Group. Rosaline injected all her life savings and took out a loan to finance the purchase and build the venture. It’s now paying off. CXA today announced it has become a US$100 million company following a US$25 million series B investment, co-led by Facebook co-founder Eduardo Saverin’s B Capital Group and Singapore-based EDBI. Global life and health reinsurance company RGA, Philips Healthcare, maker of data-driven medical devices and disease management programs, and existing investors NSI...

  • Silvertree Capital acquires Nigeria’s TopCheck

    Nigerian price comparison site, TopCheck, was recently acquired for an undisclosed amount by Silvertree Holdings, one of Africa's leading internet platforms. The price comparison site will be joining one of SilverTree's subsidiaries, Compare Africa Group (CAG) which is active in over three African countries. "The TopCheck team is excited to join forces with CAG. Together, we are forming Africa’s undisputed leader in price comparison," said TopCheck founder, Thomas Pilar in a press release. TopCheck was founded by European entrepreneurs Christian Wiesner and Jose Figueiredo, as well as Thomas Pilar in 2014.recorded fast growth last year. Not only have they processed US$10-million in Gross...

  • TenaCiTi to enhance junior recruits for small businesses

    The Cape Innovation and Technology Initiative (CiTi) in partnership with #CoCreateSA, an initiative of the Kingdom of the Netherlands, have launched their second TenaCiTi programme. The programme aims to improve small businesses by providing junior recruits with sufficient training to up their skills, such as such as time management and planning. This upskilling looks to allow the trainees to become more productive staff to aid in sustaining the business. TenaCiTi also aims to build an enabling relationship between the entrepreneur and their junior recruit by improving the existing HR department. HR consulting firm, LaytonMelville will be responsible for hosting intervention sessions between the entrepreneur and...

  • Report: SA private equity comes out on top

    According to the recent RisCura-SAVCA South African Private Equity Performance Report , private equity in SA yielded favourable returns over a 10-year period. The report shows that private equity delivered a 10-year internal rate of return (IRR) of 17.7% at the end of September 2016, as opposed to 16.5% from the FTSE/JSE Financial and Industrial Index (FINDI TRI). "The steady, attractive returns delivered by private equity is particularly appealing in the current volatile, low-returns environment," says CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), Erika van der Merwe, in a press release to Ventureburn. SA private equity was also strong against the FTSE/JSE...