Business: Latest News
Tom Jackson, 9:20 pm
It is well acknowledged that there is a shortage in Africa of female entrepreneurs, and active female investors and mentors as well. Women make up less than 15 percent of all professionals in the tech space. In South Africa, for example, the latest Southern African Venture Capital and Private Equity Association (SAVCA)report showed women made up 13.3 percent of the space, a small increase from 12.9 percent the year before.
Staff, 4:25 am
The telecom operators with the most active customers are MTN in Ghana and Nigeria, Safaricom and Vodacom in Kenya and South Africa respectively and Airtel in Uganda, according to a recent GeoPoll straw poll, which sought to determine the level of customer service and service delivery among telecommunications operators Sub-Saharan Africa. The rate of mobile phone and internet penetration in Sub-Saharan Africa (SSA) continues to grow.
Peter Pedroncelli, 8:13 am
French telecommunications giant Orange has begun construction on the site that will become their new African headquarters in Ivory Coast. The West African country was selected for the company’s new base of operations on the continent, which will cost around $50.4 million once completed. Orange is a major mobile operator across Africa, with customers present in 19 countries on the continent, including Cameroon, Ivory Coast, Egypt, Morocco, Senegal and Mauritius.
Peter Pedroncelli, 4:57 am AFKI Original
The story of Airbnb in Africa is one of positive growth. The mobile app-based hospitality booking site allows people to make their homes or spare rooms available to visiting guests for a fee, and it continues to thrive and grow in Africa. Established in 2008, Airbnb hosts have welcomed over 200 million guests in 191 countries since the early days of the company, with Cape Town in South Africa proving to be the most popular African destination for the Airbnb hosts and users.
Peter Pedroncelli, 4:42 am
African telecommunications company Econet Wireless may be considering a listing on the London Stock Exchange at some point during the course of 2018. The company is allegedly considering the sale of shares on the English bourse to the value of around $8bn through a combination of new and existing assets. Econet Wireless has operations and investments throughout the world.
Staff, 7:25 am
Facebook will open a “community hub space” in Nigeria next year to encourage software developers and technology entrepreneurs and become the latest tech giant to pursue a training program in Africa.The U.S. social media company said the center would host an “incubator program” to help develop technology start-ups, while it will train 50,000 Nigerians in digital skills.Africa’s rapid population growth falling data costs and heavy adoption of mobile phones rather than PCs is attracting tech firms.
Kurt Davis Jr., 3:43 am AFKI Original
The talk of distressed asset investing in Africa is growing. A total of $6.5 billion has been raised for African private equity from 2011 to 2016, according to the African Private Equity and Venture Capital Association (AVCA), with a total reported deal value over the same period of $22.7 billion for 900+ deals. In 2016 alone, 145 deals were reported totalling $3.8 billion. We explore the sectors offering the best opportunities for distressed asset investors.
Peter Pedroncelli, 3:35 am
The Meltwater Entrepreneurial School of Technology (MEST), a training program, seed fund and Africa’s largest tech incubator based in Ghana, has launched two new incubator spaces in Nigeria and South Africa. In addition to the flagship incubator in Accra, MEST has launched two new spaces in Lagos, Nigeria and Cape Town, South Africa, expanding its reach and presence in Africa. Since launching in 2008 it has already invested over $20 million in African startups.
Mongabay, 8:28 am
Camera traps have proven to be a powerful tool in conservationists’ arsenal for monitoring forests and wildlife. But the mountains of data they capture need to be sifted through in order to be useful, which often presents a significant challenge for cash-strapped conservationists and researchers. To meet this challenge, a team led by Anabelle Cardoso, a PhD candidate at Oxford University in the UK, has turned to citizen science.
Tom Jackson, 5:48 pm AFKI Original
Last week, for the fourth year in a row, the investment community of Africa came together in Cape Town to discuss trends, opportunities and pitfalls with regards to backing African startups. It might not seem that big of a deal, but in the embryonic days of African angel and venture capital, where the vast majority of startups lack access to funding, the signs that a dedicated community of investors is being built are positive.
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