Following on from its successful first round of funding for social entrepreneurs in 2017-18, the Diageo Empowerment Trust South Africa (DETSA) has kicked off a new round of funding in 2019. This new funding initiative will take the form of a challenge focusing on the use of technology to solve major social challenges in the country, says Sinethemba Mafanya, Manager, DETSA. “We will be engaging early-stage social entrepreneurs who not only aim to make money...
Apps have forever transformed our world: Uber revolutionized how we get from point A to point B, Instagram changed how we capture and share about our daily lives and Venmo altered how our friends pay us back. And now, an up-and-coming app is making relationship health resources accessible to everyone. Created and founded by entrepreneur and visionary Steven Dziedzic, Lasting is a relationship counseling app that distills decades of marriage and long-term relationship research into...
South African funders need to take a more innovative and empathetic approach to funding the country’s SME sector, as the traditional corporate lending approach that insists on high collateral cover for small business loans blocks many SMEs from accessing much-needed financing – and ultimately hampers the growth potential of the entire sector. That’s the view of Kumaran Padayachee, the chief executive of SME finance specialist Spartan SME Finance, who says requesting collateral has...
The 2019 edition of the Africa4Future accelerator program is set to take place and the startups involved have been announced. Airbus and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) announcement of the top startups that came through the selection process. They were selected after an open public pitch event in front of experts, potential investors, the media and other stakeholders in Kenya’s capital city. The Africa4Future accelerator program is a joint initiative of Airbus and GIZ’s Make-IT...
The African Guarantee Fund for Small and Medium-Sized Enterprises (AGF) has received a capital increase amounting to EUR 25 million from the KfW Development Bank, a German government-owned development bank, based in Frankfurt. It provides financing to governments, public enterprises and commercial banks engaged in microfinance and SME promotion in developing countries. Commenting during the onboarding of the new shareholders, AGF Chief Executive Officer, Felix BIKPO stated, “Through the increased capital, AGF has acquired more...
What started as a hobby for Onesmus Gitonga has turned into an agribusiness a year later. In June last year, his father bought two turkeys, a tom and a hen from a friend to beautify their home and make it lively. Gitonga, 27, saw an opportunity in the birds and decided give them good care. “The hen hatched 15 chicks and I sold 10 of them. I was amazed by the profit I made and...
Kenyan fintech startup Pezesha is running financial education sessions in the town of Embu in a bid to cut down on the high default rates amongst borrowers. Pezesha, which secured a round of funding in August, offers a value chain financial marketplace by financially educating borrowers and taking them through a credit scoring process before they qualify for a loan. The startup has now launched its official curriculum – Pezesha Academy – in Embu in...
Innocent Mukheli graced the stage of the Africa Travel Summit hosted by Airbnb with mouthwatering images that would make anyone stop for a double take. “Our aim is to reframe images from our own life stories, as well as the stories of others, and bring an alternative view of South Africa to a global audience,” said Mukheli who serves as the executive creative director of I See A Different You. “Our images show the South...
Financial literacy remains a barrier for young people, with millennials struggling to meet their financial goals and not saving effectively. South African fintech startup Akiba Digital thinks it has the solution. Formed last year, Akiba is building a data-driven personalised financial marketplace, initially offering two digital solutions. Their first solution, launched two months ago and available for download, is a gamified savings tool that allows users to save towards their lifestyle goals and get rewarded...
The Overlings from Mangosuthu University of Technology are the 2018 winners of Cognity Advisory’s Universities Business Challenge (UBC), sponsored by General Electric (GE). The winning team of four students are walking away with R50,000 to turn their business idea into reality. Launched in July this year, the UBC has seen 500 students from 13 different universities across South Africa participate in a business simulation competition designed to develop entrepreneurship skills. When the competition launched, all...