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News

  • Fintech Circle Innovate announces partnership with CiTi

    London-based fintech accelerator, Fintech Circle Innovate has announced a partnership with one of SAs oldest tech hubs, the Cape Innovation and Technology Initiative (CiTi). The partnership will aim to fast track fintech development in SA as well as the rest of the continent. "The partnership with The Cape Innovation and Technology Initiative (CiTi) is a logical and obvious choice for us," said CEO and co-founder of Fintech Circle Innovate, Nicole Anderson, in a press release to Ventureburn. "CiTi has a long-standing history as the most experienced incubator in Africa, plus we are both leaders in innovation in our regions. The opportunity and use case...

  • Cactus Capital invests over R1-million in African startups

    Investment firm Cactus Capital has announced investments in growth-stage fintech startups Flutterwave and E-Factor. This makes it the second and third investments the firm has concluded this year. The firm's investment was in Ugandan based mobile payment aggregator, Intel World International (IWI Africa), which happened in Q1 of 2016. When asked about the amounts invested, Cactus Capital could not give an exact amount due to legal reasons, but said all three investments have a combined amount of over R1-million. "As Cactus Advisors, simply investing into high growth, high impact tech-enabled ventures on the continent is not good enough, unless we critically have the right enabling environment on...

  • SABAN launches to support early-stage startup investors in SA

    On 11 November, several organisations within the SA startup community came together to launch the South African Business Angel Network (SABAN). The aim of SABAN, according to Daniel Guasco, head of Silicon Cape, is to "create an environment where people can learn and feel safe". When addressing the audience, Guasco said: "We really need more people like yourselves who are eager, able, and willing to make a commitment to funding early-stage companies, specifically in the technology space, to put money down. It's high-risk, but the opportunities around that and the benefit that one gets out of it is quite substantial." Other focuses of SABAN include...

  • Exclusive interview: RainFin CEO on buying back company from Absa

    Fintech online market lending place RainFin, has announced the buyback of shares from their majority shareholder, Barclays Africa Group (Absa). The banking institution held a 49% share in RainFin. Ventureburn had a chance to sit down with RainFin CEO Sean Emery to talk about the reasons behind the buyback as well as the startup's future post-buyback. In February of this year, Emery spoke to us about the inclusion of its products into Absa's offering. This came about through the 49% equity purchase Absa had with RainFin. The buyback and independence In March this year, Barclays Group announced its intention to sell its 62.3% stake...

  • Ducere Holdings wins R1-million at Green City Startup competition

    Greentech startup, Ducere Holdings was awarded first place at the Joburg Green City Startup competition. The event took place on 9 November in Johannesburg. The company created a hybrid transmission system, MISER, that can offer up to 70% reduction in emissions for vehicles. It can be fitted into existing vehicles. Second and third places were awarded to cloud-based technology startup Solid Insight, and farming system Rydawi Fish Farms, who won R400 000 and R300 000 respectively. The event was created by the City of Johannesburg and in partnership with Resolution Circle, the University of Johannesburg's technology commercialisation company and incubator. Out of 187 entries for the competition,...

  • TaxTim now serves SMEs with tax completion tools

    Innovative tax return tool TaxTim has  launched its tax completion tool for SMEs. Following the success of its personal tax return tool, the digital assistant will provide provisional as well as annual tax return services for small businesses. These SMEs need to be registered Pty Ltd with the Companies and Intellectual Property Commission (CIPC) as well as make less than R1-million turnover for the tax year. "When we started this venture, our vision was to transform the tax return process for all taxpayers. The individual market was a natural starting point and I looked forward to the day that we would release...

  • MTN holds first Digital Entrepreneur Masterclass

    Telecoms giant MTN successfully hosted their first Digital Entrepreneur Masterclass on 27 October. Hosting the event was CEO of Innate Investment Solutions, Lynette Ntuli. Recounting her experience being a 'digital savvy entrepreneur' she mentioned in a press release to Ventureburn, "The great thing about going digital is that it opens up your business to global customers. Digital ideas help elevate SMEs to the next level." One of the major points of the evening was that SMEs aren't marketing themselves well enough, especially when using online resources."Digital allows small business to level the playing fields with big business. Technology allows us to market our...

  • The Sun Exchange gets gong at Finance Africa Conference

    A crowd-funding platform, The Sun Exchange, was named the best Blockchain and Bitcoin company in SA at the Finance Africa Conference, which took place in Johannesburg. The company leases solar equipment and manages revenue collection and distribution through blockchain systems. The company uses Bitcoin as an international currency between countries, saying that transferring international currency was a time-consuming process. The crowdfunding model allows individuals to purchase solar cells or panel assets leased to various end-users. Owners have the opportunity to earn revenue in real-time for their solar equipment. Once the panels are installed, the lease associated with them will earn the investor...

  • SAP launches first Co-Innovation Lab in Africa

    Software solutions company SAP has launched its first Co-Innovation Lab (COIL) in Johannesburg, being a first for Africa. COIL has been created in order to create collaboration between SAP, software partners and entrepreneurs. "We are committed to provide the Digital Platform, leveraging IoT, Big Data, a Digital Core, Cloud Computing and Business Networks to enable capabilities relevant to growth in Africa," said managing director of SAP Africa Brett Parker in a press release. "We are confident that the introduction of the first African SAP Co-Innovation Lab, with its ability to enable and, tangibly showcase the innovation and inventions by Africans, for Africans, will enable...

  • Angel Fair Africa gets all-female investors panel

    Angel Fair Africa has announced its first all-female investors panel. The panel features names such as angel investor Laila Macharia, Kanini Mutooni (director of investment at USAID East Africa Trade and Investment Hub) and many others. The panel also features principal investment officer of Singularity Investments Lexi Novistske and investment director of Novastar Ventures Sapna Shah. These four heavyweights will constitute the panel on day one of the fourth Angel Fair Africa from 10-11 November 2016. A total of 20 startups and scaleups will have the opportunity to pitch in front of eager investors. Participants will also have the opportunity to network with fellow entrepreneurs...