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eSports is one of the fastest growing sporting sectors and could be worth over US$5-billion globally by 2020. But this is not the most interesting aspect of this fast-rising and highly competitive world. Instead, eSports – the competitive play of certain video games for prizes – is proving to be a great magnet for women. According to a PWC study, even though the gender split among gamers is 50/50, more women identify as professional gamers...

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startupAFRICA has learned that Standard Bank have launched an innovative campaign that will help South African fledgling entrepreneurs “turn their side hustles into their main hustles.” The name of the campaign is My Fearless Next. The bank will be providing young entrepreneurs with funding that is equal to as much as a year’s salary to encourage them to jump into the deep end and try to turn their side businesses into full-time businesses. The competition...

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A chartered accountant is on a mission to create healthy relationships between entrepreneurs and banks. Zimkhitha Zatu said that having to counsel some of her entrepreneur clients, after banks denied them loans as they did not meet certain minimum requirements, ignited her drive to create a bridge between the two. The clients took strain when they were refused funding and it hit her hard too. So when Standard Bank offered her a job in November...

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South Africa’s fellow member states in the BRICS grouping have made significant inroads in its tourism industry, generating business and economic growth, accounting firm PwC said this week. South Africa is hosting the 10th BRICS summit this week, expected to draw hundreds of delegates to its commercial hub of Johannesburg. PwC said compared to other foreign visitors, visitors from Brazil, Russia, India and China (BRIC) had a lower propensity to visit South Africa for leisure,...

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The Department of Trade and Industry is looking to broaden access to procurement opportunities for small, medium and micro enterprises by extending its clearing house model across all nine provinces. Such a clearing house is located in the premier’s office and controls procurement of all government departments and municipalities in a province. Only Gauteng and the North West have so far implemented the model, department director-general Lionel October said. October was addressing the inaugural broad-based...

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Men are better at networking than women. That’s according to Sue von Hirschfeld from UCT’s Graduate School of Business. She was in conversation with POWER Talk’s Iman Rappetti about women’s disappearance from leadership positions in business. Von Hirschfeld says it’s due to a number of complex reasons including behavioural patterns and institutional bias. “There are a whole complexity of factors including women feeling an overt bias and a more second generation gender bias, like women not putting themselves up for promotion...

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startupAFRICA spoke with Grindstone regarding the fact that Knife Capital has launched the fourth edition of its Grindstone Accelerator programme in partnership with Thinkroom. What is the strategic aim of the programme? SMEs contribute between 40% and 70% of GDPs across Africa and have a massive impact on job creation, depending on the country analysed. A focus on scale-ups enables opportunities for economic growth and job creation across these economies. Incubation and acceleration generally enables accelerated growth for the businesses...

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MANDENI Municipality, in partnership with the Sector for Economic Development Agency (Seda), conducted an information sharing session for entrepreneurs and those aspiring to start their businesses this past week. The main objective was to raise awareness on opportunities offered by various departments and entities in terms of business and capacity building programmes. The event was attended by all councillors and ward committees. Among the attendees were also successful entrepreneurs who came to showcase their work....

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In yet another bold step to create purpose for entrepreneurs and market access, championing the underdog is at the core of a call to action to profile 100 Entrepreneurs in 100 Days. Vanessa Perumal, MD of JT Comms on heeding the call on all South Africans and civil society to play a part in celebrating Nelson Mandela’s centenary, “ The business show Entrepreneur Connect Africa seeks to profile and tell entrepreneurial stories and inspire business...

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According to analysis done by savings fintech start up MyTreasury.co.za, South African’s household savings rate comes last when ranked against the G20 countries. This is distressing news during Savings Month as it means that too many South Africans are living in debt or eating into their capital. These finding are consistent with the worrying picture painted by Old Mutual Savings Monitor: among urban working households, an alarming 40% of respondents said they have no form...

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