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  • Bank, local hub launch $1-million fund for Somalian startups

    Mogadishu-based Premier Bank and Somalian business support organisation iRise Hub yesterday launched a $1-million fund aimed at backing the country’s startups. Premier Bank chairman Jibril Mohamed (pictured above) announced the launch of the fund yesterday (25 October) during the closing ceremony of the 2018 Mogadishu Tech Summit which kicked off on Tuesday (23 October). We are happy to announce a one million Dollar fund for financing the startups in #Somalia in collaboration with Irisehub#MTS2018. Our Chairman, Jibril Mohamed has announced this at the Mogadishu Tech Summit closing ceremony. pic.twitter.com/V5xJd60pmc — Premier Bank (@premierbankSO) October 25, 2018 It was not immediately clear whether the fund...

  • Company Office

    The Bookmark Awards announces entry submission extension

    The IAB SA announced today that the deadline for submissions to the prestigious Bookmark Awards would be extended from 15 November 2015 to 30 November 2015, providing entrants with a further opportunity to present their work at the country’s premier digital marketing showcase. “We have already received a large amount of entries, but we have also received a number of requests for a deadline extension. We understand that November is much of the industry’s pitch season, so we have decided to give entrants a weekend and let them come back on Monday with fresh minds to create their best...

  • Questions surround involvement of Eran Eyal’s former partner in Shopin pilots

    A former business partner of SA entrepreneur Eran Eyal, who faces fraud charges in the US, has declined to comment on whether or not it was he who carried out pilot projects with two top US retailers -- on behalf of Eyal's present startup Shopin. Eyal was due to appear in New York's Kings Supreme Court - Criminal Term yesterday. He is charged with allegedly stealing $600 000 from investors by fraudulently soliciting investors to purchase convertible notes through false representations of his former company, Springleap. If convicted of the top count charged, he faces up to 15 years in prison. Eyal, who is the co-CEO of...

  • Payments space not over saturated in Africa argues Village Capital head

    African fintech startups are beginning to branch out away from the payments space into other sub-sectors -- such as agri-finance, insurtech and alternative credit scoring -- a report by US-based venture capital (VC) firm Village Capital has found. But the VC says this isn't a sign that the payments sector in Africa is necessarily over saturated. The report -- released earlier this month and titled Beyond Payments: The next generation of fintech startups in Sub-Saharan Africa -- is based on 165 fintech startups from 18 countries that applied to join Village Capital's Fintech Africa 2018 programme, which the VC runs with US payments platform PayPal. Village Capital...

  • Here are the DEMO Africa 2018 winners

    Startup launchpad DEMO Africa has selected five startups that will travel to Silicon Valley as part of the Lions Africa Innovation Tour next year. The five startups were selected and announced last week Friday (19 October) at the last day of DEMO Africa 2019 in Casablanca, Morocco. They are, medicine delivery service Chefaa from Egypt, logistics management platform Kourtim from Morocco, UK-based B2B currency exchange marketplace VertoFX, mobility startup Hawkar from Tunisia and agrtitech Complete Farmer from Ghana. DEMO Africa has selected Cheefa, Kourtim, VertoFX, Hawkar and Complete Farmer to travel to Silicon Valley next year as part of the Lions Africa Innovation Tour In addition, all 30...

  • GreenTec Capital Partners invests in Namibian computer manufacturer PEBL

    Frankfurt-based venture capital (VC) firm GreenTec Capital Partners has invested an undisclosed amount in PEBL, a Windhoek-based startup that manufactures computer hardware. GreenTec Capital Partners announced the investment on Tuesday (23 October) in a statement on its website as well as on Twitter. PEBL was founded in 2015 by CEO and lead product designer Vincent Van Wyk. PEBL was founded in 2015 by CEO Vincent Van Wyk The startup's flagship product is the PEBL iD, a high-performance small form-factor (11.8cm x 11.8cm) computer that can be configured to customers' tastes. The PEBL iD is manufactured in Namibia, with its glass-top panels crafted from African sand. @GreenTecCapital...

  • Eight important lessons when raising venture capital [Opinion]

    It is important for every entrepreneur to recognise that to raise venture capital (VC) is only one way to build and scale a business and the most important question every entrepreneur needs to ask is not "How do I raise venture capital?" -- it is rather "Do I need to raise venture capital?". The following eight lessons are for the entrepreneur who has answered yes to the second question and now wants to tread through the often-intimidating water of raising venture capital, told through the lens of a venture capitalist. 1. Do I need to raise venture capital? Bootstrap your company before you...

  • SA fintech Akiba Digital launches savings app for SA millennials [Sponsored]

    Financial literacy remains a barrier for the youth. There is currently no platform that offers financial insights and proactively empowers or educates millennials about personal financial issues such as credit, lending, savings and investments. As a result, an increased number of millennials struggle to meet their financial goals as they are not equipped with adequate knowledge to make good financial decisions. Some of the reasons why millennials aren’t saving effectively include fragmented financial literacy, inconvenient channels to access financial products, complex financial product language, low affordability and accessibility to financial advisors and planners. Enter Akiba. Akiba is working towards becoming a data-driven...

  • Uprise.Africa crowdfunding platform nets investment from Silicon Valley VC

    SA equity crowdfunding platform Uprise.Africa has secured an undisclosed investment from Silicon Valley based venture capital (VC) firm Nexxus Ventures. In a statement yesterday (23 October), Uprise.Africa said the investment round was concluded on a R60-million evaluation. Uprise.Africa added that the investment will enable it to launch new deals on its platform in the coming months. The investment, Uprise.Africa said, was attributed to the platform being the only regulated equity crowdfunding platform in South Africa and to the "significant experience" of the platform's CEO Tabassum Qadir (pictured above). Uprise.Africa chief marketing officer Inge Prins told Ventureburn today (24 October) that the funding will be invested across...

  • Egyptian startup HitchHiker secures $200k round from Dubai-based angels

    Cairo-based peer-to-peer international shipping startup HitchHiker has announced that it has secured $200 000 in a round of funding led by Dubai based angel investors. The startup made the announcement last Friday (19 October) in a post on Facebook. "We Couldn't Be More Proud We Raised $200,000 in our first Seed Round of Investment. Thanks to our users who trusted us and used our app as Shoppers or Travelers ," the company posted. HitcHiker was founded last year by CEO Hussein El-Terawy (pictured above, left) CTO Hassan Selim (pictured above, right). The startup connects shoppers with travellers from around the world through its...

  • Four African startups make it into PeaceTech Accelerator’s fifth cohort

    Four African startups -- two each from Ghana and Nigeria -- have been selected for the fifth cohort of the Washington DC-based PeaceTech Accelerator. The accelerator, which is run by UK-based tech investment firm C5 Accelerate in collaboration with Amazon Web Services, PeaceTech Lab and SAP NS2, was established to scale startups on the cloud and solve problems relating to peace, stability and security worldwide. The four startups are Lagos-based proptech Muster, Nigerian talent marketplace Coven Works, Accra-based back-end platform Devless and Ghanaian supply chain platform Jetstream Africa. C5 Accelerate invests $25 000 for a five percent equity stake in the startups participating in...

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