Law firm Baker McKenzie has released its latest quarterly Cross-border M&A Index, showing a massive drop in the number of inbound M&A deals across Africa and South Africa – but there’s a positive spin for the SA tech sector. According to the report, there were 17 inbound M&A deals in Africa in the second quarter of 2017 – a 48 percent drop from 33 deals in Q2 2016. The deal value for inbound deals amounted to $780 million, decreasing by 83% year-on-year and 88% on a quarter-by-quarter basis.
Entrepreneurship: Latest News
Staff, 9:20 am
Senegal’s tech scene has been slow to get off the ground due to a lack of qualified coders. But a locally run company is trying to change that, while also helping young people find jobs. Local tech start-ups are tackling day-to-day conveniences in the capital, Dakar. Firefly places TV screens in public buses, but has struggled to find qualified web and mobile app developers in Senegal. “They are trained in technologies we do not work with,” explains Mafal Lo, one of the co-founders of Firefly.
Staff, 8:52 am
The picture isn’t rosy. Of the STEM disciplines, tech is the only one where the participation of women has actually decreased in the last 20 years.This is due to many reasons, not the least of which is the underestimation of the entrepreneurship potential of women. She Leads Africa, a community that helps young African women achieve their professional dreams, in partnership with beauty brand, Dark & Lovely Africa, has just opened applications for the 2017 Dark & Lovely x SLA Beauty Accelerator.
Staff, 8:18 am
The IT industry is in a position to change the roles of women in the workplace and society–as new technology-enabled learning, employment, and business opportunities emerge in the digital era. We’re seeing a number of important tech trends converging: from high-speed mobile networks, to low-cost smartphones, publicly-available e-learning tools and powerful Cloud-enabled software. Today, one’s location becomes less important, as women in rural areas gain more opportunities to empower themselves.
Peter Pedroncelli, 4:29 am
Solving one of the most frequently sited problems in Nigerian agribusiness, Nigerian-American startup Releaf facilitates a business-to-business marketplace that enables Nigerian businesses to find customers and partners that they can trust. The startup, which is currently taking part in Y Combinator, has signed up around 1,000 African businesses since its public launch in Nigeria at the start of August.
Peter Pedroncelli, 7:22 am
The University of Cape Town in South Africa has become the first tertiary education institution in Africa to offer a specialized fintech degree, which will be available through the university from January 2018. The degree has been designed to provide students with the necessary skills and practical knowledge to acquire or further a career within the modern financial services sector, which is currently experiencing unprecedented growth.
Peter Pedroncelli, 10:43 am AFKI Original
Women have always been important role-players within tech in South Africa, and now more than ever, there are numerous women who are influencing tech in positive ways. While gender diversity in the tech sector remains challenging, some women stand out as excellent role models who are making their mark on a male-dominated industry. From startup executives to tech savvy philanthropists, these women show what a passion for tech and strong leadership qualities can produce in the South African context.
Peter Pedroncelli, 6:42 am
Malaysian subscription streaming video service iflix, which is focused on emerging markets, has secured significant funding that will be used to facilitate the company’s African expansion plans. The Netflix competitor announced that it had attracted investments amounting to $133m in new funding round led by U.S. media giant Hearst that was successful due to significant interest from both new investors and existing shareholders.
Ann Brown, 3:09 am AFKI Original
Sandra Mwiihangele has a great passion for cosmetics and entrepreneurship, leading her to create Kiyomisandz, a cosmetic manufacturing company in Namibia. The 29-year-old businesswoman has been successful, but she remains ambitious. Mwiihangele wants Kiyomisandz to grow into a respected African business and international brand that can compete with the likes of L’Oréal, Revlon, and The Body Shop.
Tom Jackson, 10:49 am AFKI Original
While both Kenya and Rwanda admit to the importance of tech development in spurring economic success, the countries have two different approaches. Kenya’s tech development has stalled, mostly on President Kenyatta’s watch, and the government needs to match its rhetoric with action if it is to get it going again. In contrast, Rwanda is earning a reputation as a test kitchen for startups, and a recent report placed the country first in government success in ICT promotion.
Peter Pedroncelli, 8:05 am
WorldRemit, an international digital money transfer business, and the National Bank of Kenya have joined forces to the benefit of the Kenyan people, expanding remittance options for locals and those sending money to the country. The partnership enables Kenyans living abroad to make instant transfers to Bank of Kenya accounts held in both Kenyan Shillings and U.S. Dollars.
- Real Estate