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  • Naspers to launch R1.4bn fund to back SA tech startups

    SA investor Naspers has announced that it plans to next year launch a R1.4-billion (about $96-million) startup fund to boost the SA tech firms. The initiative – called Naspers Foundry – was announced at the inaugural South Africa Investment Conference 2018 in Johannesburg on Friday (26 October). In a statement released on the same day, Naspers said it aims to fund and support SA tech startups that seek to address "big societal needs". The company said further announcements will be made in due course. Commenting in the statement, Naspers chief executive Bob van Dijk said the fund aims to both encourage and back SA entrepreneurs to create businesses...

  • Company Office

    SUPERBALIST.COM CELEBRATING YOUTH Changing the way the youth shop and applauding creative talent

    Superbalist.com, South Africa’s only high-trend curated online shopping destination, has in excess of 1 million members. With an ever expanding selection of the best international brands at affordable prices; an understanding of what the youth market wants in terms of shopping and content; and campaigns that resonate with their target market, the site is set to change the way the youth shop and consume information. “We understand what it’s like to want coveted international brands, and know that we can actually afford them. It’s been one of our main business objectives since we launched, and we’ve become really good at delivering...

  • Top startup events in South Africa, Africa you should know about this week [29/10/2018]

    On Tuesday (30 October) Outsourced CFO will host the second edition of its Founders and Finance Series in Cape Town. Learn about what to look out for when raising finance. Sweepsouth's Aisha Pandor and Wumdrop's Simon Hartley will provide some tips. In Johannesburg, on the same day, Future Females will host a Halloween-themed event on the business of social media. Join this event to learn how to connect and share with your customers, fan base, increases awareness about your brand as well as boost your leads and sales. In Nigeria, on Friday (2 November), Lagos Angel Network in collaboration with the Bank of Industry will host...

  • Amazon Web Services to open data centres in Cape Town in 2020

    Tech entrepreneurs in Cape Town are set to benefit, with the announcement yesterday by cloud computing services provider Amazon Web Services (AWS) that it will open three data centres in Cape Town in the first half of 2020. In a statement yesterday (25 October) the Amazon subsidiary said the data centres will enable the services' customers to run workloads in South Africa and serve end-users across the continent with lower latency. In addition, the infrastructure will enable more African organisations to leverage advanced technologies such as artificial intelligence (AI), machine learning, the Internet of Things (IoT) and mobile services to drive innovation. The announcement follows AWS'...

  • 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...

  • 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...

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