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All posts tagged "Africa"

  • Future prospects in Africa: a look ahead for investors

    China has long been the dominant -- and certainly the most visible -- investor in Africa’s growing industries. But 2015 saw increased investments from other nations looking to get in on the continent’s rich opportunities. That trend will only increase in 2016. India especially signaled a strong interest in Africa last year, holding a summit and extensive meetings with African leaders and trade officials. Africa’s stabilising political situations and expanding economies make it one of the most attractive long-term investment regions in the world. Here’s what investors need to consider as they plan their 2016 strategies: 1. Diversification Expect to see a shift...

  • French insurance giant buys into African ecommerce in $83m deal

    French insurance giant AXA has bought an eight percent stake in Africa Internet Group (AIG), one of the continent's largest ecommerce players. The deal is valued at €75-million (over US$83-million). According to Forbes, AXA will become the exclusive insurance provider for AIG, which includes the Nigerian-based Jumia and other ecommerce operations in Africa. Other AIG services include Kaymu, a leading online shopping community, as well as marketplaces in food delivery, travel, real estate, jobs and cars. Read more: Kenyan Hellofood users can now order KFC, Ocean Basket online “Internet is creating unparalleled opportunities for consumers and businesses in Africa to connect and do...

  • African tech innovators: Our Uber moment is coming

    We all know that we face some unique challenges in Africa, driven by the lack of access to market and the relatively small skills pool to draw from. If we look at the four types of innovation (thanks to The Innovator's Dilemma for the foundation) they are: True Innovation: creating something new that has not been done before Incremental Innovation: improving something that exists Sector Innovation: taking bits of tech from other sectors to disrupt another sector Market Innovation: figuring out new ways to get to market and scale Most tech innovators focus on Sector Innovation, when in Africa our main barrier is Market...

  • Top startup events in South Africa, Africa you should know about this week [25/01/2016]

    Looking to get into the South African startup scene or scratch up on some of your skills? Well, you’ve come to the right place. There are loads of competitions, networking sessions and workshops happening around South Africa and the rest of the continent (namely Kenya, Nigeria and Ghana) that we’ve rounded up to make your life a bit easier. This article is part of a weekly series that highlights all the top startup competitions, networking sessions, workshops and conferences around South Africa, and the greater region. If you have any event recommendations for us to add to the list, or...

  • 3 ways China’s slowdown yields opportunities for Africa

    Any economic news out of China makes waves in markets around the world, particularly when it’s bad. Last year’s slowdown prompted furrowed brows across the globe. Reports in December 2015 that the People’s Bank of China was using an aggressive expansionary policy to buffer lethargic growth indicated that China’s problems would persist well into the new year. Because China is a leading investor in African markets, many analysts speculated that the shift would negatively impact the continent. The International Monetary Fund even downgraded sub-Saharan Africa’s growth forecast on the basis of China’s circumstances. But Africa won’t suffer over China’s economic situation....

  • Former Magento heavyweight boards booming SA fintech startup

    Former VP of Engineering at eBay subsidiary Magento, Ted Pietrzak (pictured right), has joined South African fintech startup Jumo to help develop its ground-breaking system to enable financial inclusion in Africa. The appointment is said to mark the first American platform level CTO to be recruited by an African company. The news also adds weight to the startup's impressive hiring spree, growing its team of seven to over 100 within the last 12 months. Headquartered in Cape Town with an office in Nairobi, Jumo is said to have attracted a concentration of data and technology pioneers from across Africa, including talent from Amazon,...

  • Investors’ roadshow to showcase African talent, adventures

    German and Mauritian-based investors' roadshow Invnture is launching its first trip this coming March, showcasing startups and adventures that South Africa, Botswana and Zimbabwe have to offer. Filled with pitches as well as cultural activities, the roadshow is meant to change the way investors think about companies by giving them an "on-the-ground" experience. The roadtrip will introduce investors to over 25 investment-hungry startups, that range from tech, tourism, agriculture and the mining industry. It will be targeting companies valued between US$50 000 and US$500 000. For a price tag of €7 800 (nearly US$8 500), participants will also be treated to a...

  • Report: over $185m invested in Africa’s tech startups in 2015

    Tech startups in Africa raised an estimated total of over US$185-million in 2015, according to a recent report. The report, titled African Tech Startups Funding Report 2015 by startup news site Disrupt Africa, polled hundreds of startups, investors, hubs and other ecosystem players over the course of two months. It found that 125 tech startups secured a total of US$185 785 500 during the course of 2015. To little surprise, South Africa, Nigeria, and Kenya made up the bulk of the overall figure. In South Africa, 45 startups raised funding, 36% of the overall total. An estimated 24% of deal value was...

  • All-female startup from Nigeria hauls in $40k for innovative legal service

    An all-female startup that seeks to give people easy access to legal services in Nigeria, called DIYlaw, recently bagged US$40 000. Organised by The Hague Institute for the Internationalisation of Law (HiiL), which promotes innovative solutions in the legal space, over 200 innovators applied for the Innovating Justice Award. DIYlaw emerged the winner of the SME Empowerment Innovation Challenge for East and West Africa during the Innovating Justice Forum at The Peace Palace, The Hague, Netherlands. Read more: SME Empowerment Challenge to support African innovations with up to $70k The Innovating Justice Awards is an annual award ceremony which takes place during the...

  • Onyeka Akumah on Travelbeta, ecommerce and Nigeria’s tech space [Q&A]

    The first time I heard about Travelbeta launch by Onyeka Akumah was in July 2015 at the official launch of HouseMax in Lagos. Akumah described the platform as one that would totally transform the travel space in Africa. Few months later, the platform was officially launched and a few week later, it raised US$2-million. I recently caught up with Akumah to speak about the exciting travel company, startups and a range of issues they face in Nigeria and Africa as a whole. Ventureburn: How has the market responded to the launch of Travelbeta? Onyeka Akumah: It's been exciting. Every day we keep...