South Africa: Latest News
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.
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.
Peter Pedroncelli, 7:43 am AFKI Original
For many global tech companies, investing in Africa is a strategy for growth that is allowing them to tap into a growing market that is full of great potential. Tech companies from across various sectors are looking to Africa for growth, with the likes of Facebook, Google and Microsoft all putting their money into the continent. Whether they are investing in infrastructure, skills or the startup ecosystem, these tech companies are boosting economies and creating jobs.
Peter Pedroncelli, 4:30 am
The Seedstars Africa Summit will be bringing together the best tech startup talent from around the African continent in December. The third annual Seedstars Africa Summit will take place on Dec. 14 in Mozambique, with all of the winners of the various Seedstars World competitions throughout Africa attending the event. Seedstars World holds these events in around 70 countries before winners are selected to take part in a grand final.
Peter Pedroncelli, 8:09 am
Truecaller, a Swedish mobile spam-blocking app that is popular with users throughout Africa has chosen to set up its regional headquarters in South Africa. The app, which has over 250 million users worldwide, and a fifth of those in Africa, has announced it will launch its regional headquarters in South Africa. Truecaller is the world’s largest verified mobile phone community dedicated to helping users to avoid and block spam calls and messages.
Peter Pedroncelli, 6:15 am AFKI Original
The winners of the Appsafrica.com Innovation Awards 2017 were recently crowned, with a number of mobile apps recognized in various categories. The awards celebrate the best in mobile and tech ventures from across Africa. The annual awards attracted over 300 submissions from across 31 countries judged by an independent panel of leading industry experts, with the winners announced at the awards party in Cape Town last week.
Peter Pedroncelli, 6:55 am
Google has launched a mentorship program that is specifically focused on supporting African tech entrepreneurs, with a new Google Launchpad space now available in Nigeria. Google Developers Launchpad Africa, which will operate from a new Google Launchpad Space in Lagos, is a mentorship program that aims to provide tech startups based in Africa with the tools to build sustainable businesses.
Staff, 7:10 am
Along a winding road down the edge of an airport near Pretoria, South Africa’s capital, is an aeronautical version of a Mad Max world. “Airheads” scrounge for parts to get their machines aloft again. Just around the corner is one of the most modern aircraft assembly plants anywhere in the world. In it stand two brand new prototypes of the AHRLAC, designed to fill a gap in the market for an aeroplane jam-packed with sensors that can patrol borders, look for poachers and drop guided weapons.
Tom Jackson, 12:16 pm AFKI Original
Every year, the great and the good of African tech converge on Cape Town to network and discuss the key trends within the sector. Until 2014, startups were barely featured at AfricaCom, but that all changed with the launch of the AHUB that year. This year’s event saw pitches from the 20 startups taking part in the World Bank’s XL Africa accelerator programme, and the chance to experience companies of such quality was refreshing.
- Real Estate