Business

African Accelerators increasingly targeting niche programmes

African Accelerators increasingly targeting niche programmes

Business, Internet
Accelerator programmes in Africa are increasingly going niche, targeting specific programmes targeted at startups in spaces such as fintech and health, instead of following the more traditional 500 Startups, Y Combinator, or, in Africa, 88mph models. But why are niche programmes suddenly so in vogue on the continent? Has the landscape changed since 88mph departed the scene after programmes in Kenya, South Africa and Nigeria that had mixed success? Do we yet know the real ingredients for a successful African accelerator? Adedana Ashebir is regional manager for Africa at Village Capital, which has run a host of focused accelerators across the continent, most recently a fintech programme with PayPal. She said niche accelerators allow entrepreneurs to share best practices and lessons lea...
Retail giant Shoprite partners with Standard Bank, Google and Celbux to launch a mobile money platform

Retail giant Shoprite partners with Standard Bank, Google and Celbux to launch a mobile money platform

Business, Mobile, Technology
The Shoprite Group has announced ‘Shoprite Money’ – a new mobile transactional banking service which is available to everyone, even those without existing bank accounts the retailer said in a statement on Wednesday. The service has been launched in partnership with global fintech company Celbux, Google and Standard Bank. “Using their Shoprite Money mobile wallet, this new service will allow customers to deposit, withdraw or send money as well as buy groceries at any of the till points in all Shoprite, Checkers, Checkers Hyper or Usave stores,” it said. Customers can also send money and buy electricity or airtime using their mobile phones, provided they have funds in their Shoprite Money account. “Basic transactional banking services in South Africa are expensive and in many cases
Fintech is disrupting big banks

Fintech is disrupting big banks

Business, Technology
Investment in fintech sector is seen as an investment hot ticket. While the 2015 edition of the EY FinTech Adoption Index estimated that fintech was still in its infancy, the 2017 edition found that adoption had risen dramatically to one in three. “But while it’s clear that digital start-ups and first round investments in fintech are growing and that the digital revolution in banking is well and truly here, what hasn’t yet been mapped is the impacts on banking’s biggest players,” says Mark Fitzgerald, Director – Government and Enterprise at FaceMe. In its report, Banking disrupted, Deloitte suggests that the future of European retail banks is looking rather grim. Rocked by the wake of the financial crisis and the ongoing shakings of re-regulation, retail bankers face the threat of to
Cellulant lands Africa’s largest investment in the fintech Space

Cellulant lands Africa’s largest investment in the fintech Space

Business, Technology
Cellulant, an African digital payments service provider bagged $47.5 million from Rise Fund, an impact fund run by private equity group TPG Growth though details of the stake still unclear. The investment is not only currently Africa’s largest in the fintech arena but also it is unique to Cellulant as the company is “for Africa, by Africans, in Africa” according to its mission statement. “Across Africa, expanding easy-to-use and low cost mobile banking offers immense potential for impact and Cellulant is at the leading edge of that work,” said Bill McGlashan, CEO and co-founder of The Rise Fund in a press statement. “We’re excited to invest in African entrepreneurs like Ken and Bolaji to help them grow their businesses and expand their impact on society. Cellulant is a perfect part
How Africans Can Thrive in the Age of Disruption

How Africans Can Thrive in the Age of Disruption

Business, Technology
Today, African businesses are being shaped by the disruptive forces that are impacting collective global markets. Just one example is speed of the current advancements in technology – such as AI, robotics, autonomous transport, IoT, 3D printing and big data analytics among others. Against this backdrop of disruption, organisations need to distinguish themselves from others in order to stand out. This is also shaping the next decade of work and if your organisation is not developing people strategies that account for these forces, prepare to be blindsided. Despite this clear recognition, the 2017 WEF Human Capital Report highlighted the failure by business to adequately develop people’s talents. The report found that only 62% of the world’s human capital is fully developed. In Africa