Tag Archives: startups
startups: Latest News
Tom Jackson, 12:36 pm AFKI Original
Across Africa, banks are choosing to work with startups rather than compete against them. Citibank has run mobile challenges in Nairobi, Standard Bank has incubators in South Africa, and Barclays has just selected its second cohort in its Cape Town-based accelerator. Fintech startups are reimagining the concept, delivery and consumption of financial services in ways banks have been unable. However, such companies lack the financial clout and access to customers to ensure mass uptake of their solutions. Banks can offer them this.
Peter Pedroncelli, 5:40 am AFKI Original
Africa is the new tech frontier, with a great deal of potential and passion for technology that should translate into the right environment to nurture and grow successful African tech startups, but obstacles and struggles remain. These issues scupper the necessary investment and growth that these startups require so that they can become sustainable and successful on a continental and global scale. We take a look at 12 things that need to be addressed in order to help struggling African tech startups.
Staff, 1:00 am
An investment fund that describes itself as “the first cross-border fund between Africa and France” wants to help French companies expand in Africa and African companies expand into France and other E.U. markets. Investments will be in the form of equity participation, generally through minority stakes. The fund’s capital will targeted towards African startups displaying a high growth potential. Investors include Orange, Bpifrance, Société Générale and Proparco.
Dana Sanchez, 11:41 am
Youth unemployment, especially in failing states, is one of the causes of extremism. Firms less than 5 years old have for decades accounted for nearly all net job creation in the U.S. In less mature economies, entrepreneurs are just as critical for job creation, economists say. Entrepreneurship promotes peace. “We have to give people something to live for, instead of the guys that pitch them something to die for,” said Egyptian-American investor Ahmed El Alfi. Is the U.S. doing enough to promote entrepreneurship in its African foreign policy?
Lillian Mutiso, 6:07 am AFKI Original
About 585 million people across Sub-Saharan Africa lack access to electricity. This is 48 percent of the global population that is not connected to electricity. This has created the need to have alternative energy models that are affordable to the African population. Several off-grid electricity startups are making strides in the provision of clean energy.
Dana Sanchez, 12:11 pm
The following African tech startups are finalists in the upcoming Demo Africa 2016. They stood out among 723 applicants, and they’ll get to introduce themselves and possibly attract investors at the fifth annual Demo Africa, planned in Johannesburg. Banking and fintech had the highest number of entries followed by media, e-commerce and education. Venture capitalists, angel investors, investment fund managers, tech buyers and media are expected from around the world.
Seeking New Markets: Venture Capital Fund Leaving London, Moving To East Africa. Here’s Who’s Already ThereBy Dana Sanchez, 11:35 am
London’s startup ecosystem is flooded with early stage funding for tech startups, so one of the city’s best-known venture capital funds is planning to move to a much less crowded neighborhood — East Africa. East Africa’s angel investment scene is rising, but slowly. Angel investing in Africa can make a big difference to economies there, said the founder of London VC fund Playfair Capital.
Dana Sanchez, 6:36 pm
Banks are waking up to bitcoin and the blockchain and its ability to transform banking, an expert says. But not quickly enough. “The coding behind virtual currency bitcoin could … prove to be enormously transformational, potentially even replacing the SWIFT network for interbank payments.” African blockchain-related startups will pitch new products in sectors ranging from remittances to renewable energy at the SWIFT African Regional Conference in Mauritius on May 18.
Peter Pedroncelli, 7:17 am AFKI Original
Tech startups are all the rage these days, and Africa is not missing the boat in this regard, providing the tech sector with an abundance of great businesses geared at taking on challenges and finding innovative solutions to help people overcome these challenges. We decided to take a closer look at 8 things you probably didn’t know about funding for African tech startups.
Dana Sanchez, 12:09 pm
Can business lead social development? In rural Africa where the power grid is lacking, an entirely new strategy had to be developed. New solar products have relied on new types of financing — mobile technology. The creators of mobile payment system M-Pesa innovated pay-as-you-go financing for solar panels. Customers make daily micro payments. It turns out cheaper and safer than kerosene.
- Real Estate