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All posts by Staff Reporter

  • Centre for Entrepreneurship hopes to eradicate poverty in Mpumalanga

    A new Centre for Entrepreneurship is being set up in Mpumalanga, South Africa in an effort to foster business activity and overcome poverty in the region. This comes as a welcome step in an effort to support one of the country's most impoverished provinces. Speaking at the Mpumalanga Provincial Small Business Summit on this week, Minister of Small Business Development Lindiwe Zulu said the community where the centre will be located was identified through a thorough needs assessment, low startup costs and the number of new potential business. As reported by SA News, the centre will be located at the Gert...

  • Innotribe Startup Challenge seeking Africa’s top fintech talent

    Africa has a knack for financial startups. Now, to captalise and promote this growing sector, renowned global financial tech conference Innotribe Startup Challenge 2015 is coming to the continent. The Society for Worldwide Interbank Financial Telecommunication’s (SWIFT) is hoping to find Africa's most talented fintech startups at the African Regional Conference (ARC) happening May 2015 in Cape Town, South Africa. The Innotribe Startup Challenge 2015 will host tech startups financial service experts, angel investors, venture capitalists, and global leading fintech and financial decision-makers -- the whole shebang. Over 500 industry experts will judge the companies that have applied, ensuring that the...

  • Crowdsource location app Traffic Lite hits Nigeria’s streets

    New community-based app Traffic Lite by Nigerian software developer Panthelope Technologies has been launched in an attempt too curb Lagos' notorious traffic. Traffic Lite is said to crowdsource real-time information from its users. This means that the more people using it, the more accurate the information will be. Panthelope is responsible for Point of Sale apps Kollect and Uxie. Company founder Ikenna Iloeje hopes the app will enable people to help each other by just going about their usual business. He explains: By just driving or walking around with the app running passively on their phone they are immensely contributing to traffic...

  • How to value your startup? This podcast by StartUp tells you all about it

    The five-year-old ride-sharing app, Uber, is valued at US$40-billion while the three-year-old photo messaging app, SnapChat, is worth an estimated US$10-billion. The latter only recently started introducing some revenue-making features and was worth billions to Facebook last year. How do startups determine their value? Especially when they don't have a regular income. In this insightful podcast, simply called StartUp, renowned radio journalist Alex Blumberg and business partner Matt Leiber share their first-hand experiences on how to value a startup. Each episode of the "podcast startup documenting the launch of a startup" Gimlet Media takes listeners through the company's growth pains and...

  • Amendments to Section 12J under the Income Tax Act welcomed by VCs

    Complex legal or financial regulations are all too often cited as South Africa's main obstacles for flourishing entrepreneurial activity. First introoduced in 2009, Section 12J under the South African Income Tax Act has come as a welcome step in venture capital activity. Now, new amendments to Section 12J will take effect in January 2015, with the aim of boosting investment in entrepreneurial businesses. Erika van der Merwe from Southern African Venture Capital and Private Equity Association (SAVCA), which represents about R160-billion in assets, elaborates: We believe that these more attractive tax incentives have the potential to boost greater levels of investment...

  • Community-based Bandwidth Barn incubator comes to Khayelitsha

    Woodstock's Bandwidth Barn by The Cape IT Initiative (CiTi) is one of the most important tech hubs for Cape Town, South African-based entrepreneurs, techies, designers and the like to meet-up, exchange ideas, host events and work on their startups. CiTi has just announced a Proof of Concept of The Barn in the Western Cape township, Khayelitsha, to support the local community's needs. Built on similar infrastructure of its counterpart in the city, The Barn in Khayelitsha will be community-based, which means that it's "solely dependent on the community’s engagement, feedback and support for this concept to succeed," notes head of...

  • New ecommerce site Zwipit wants your old phone for cash

    South Africa has a lot of phones. With a mobile penetration rate exceeding that of the population by almost a third, one can easily imagine a good amount of old Nokias and Blackberrys lying around in people's drawers, forgotten and gathering dust. It's then to no one's surprise that a mobile-phone recycling startup has finally reached the country's shores. Founded in 2011, Spanish company Zwipit has launched in nine other markets so far in its mission to buy second-hand phones, refurbish them, and sell them back to people. For the time being, Zwipit South Africa -- which is locally owned...

  • Africa Twenty10 accelerator is calling for first intake of savvy startups

    The Africa Twenty10 accelerator programme is looking for local startups that would help solve the problem of fragmentation and small market sizes on the continent. In its effort to create a more competitive environment, the accelerator will provide a three-month intensive programme for the first intake of startups, which will enable them to launch in multiple countries and access bigger market sizes. The initiative hopes to find a fair balance of female-led startups, social enterprises along with other profitable and impactful startups. The programme is supported by Microsoft4Afrika Initiative, Appfrica Venture Capital Fund, Expand HR Services and innovation spaces across Africa including iSpace...

  • The Hope Factory to celebrate, empower entrepreneurs with new partnerships

    Global Entrepreneurship Week (GEW) is upon our dear world, and like many other entrepreneurship initiatives, South African enterprise development programme The Hope Factory hopes to inspire and empower entrepreneurs through mentorship and support. For small business owners, having a mentor can be invaluable and the statistics prove this. Research has shown that 80% of entrepreneurs who have mentors working alongside them survive long term, versus only 45% who don’t have a mentor. The Hope Factory’s CEO Annie McWalter notes the importance of GEW: From November 17 to 23, we are joining entrepreneurs across the world to commemorate GEW. We have picked events...

  • Entrepreneur Expo provides unique insight into SA’s exciting startup scene

    This week the fifth annual Entrepreneur Expo is kicking-off in Cape Town, South Africa, with the aim of bringing together entrepreneurs, thinkers and tinkerers from all over the Mother City and the rest of the country. The Expo is meant to be a platform for those that support Cape Town’s entrepreneurs through products and services to showcase their offerings and engage directly with existing and future entrepreneurs. Some prolific figures hailing from financial institutions, mentorship programmes as well as government agencies will attend the event. This is a rare opportunity to link up with some of the industry's most insightful leaders....