Entrepreneurship

Submitted by admin on Thu, 03/28/2019 - 10:43

The application process for the Africa Netpreneur Prize Initiative, the $10 million contest launched by Alibaba Group Executive Chairman Jack Ma to inspire an entire continent of entrepreneurs, is now officially open.

Applications to compete for the prize, which will award $1 million a year for the next 10 years to African entrepreneurs across all industries, will be open online through June 30. (To apply or find out more about the prize, go here.)

Submitted by admin on Thu, 03/28/2019 - 10:07

The platform will be launched alongside the SA SME CEO Fund Circle which aims to finance and scale up black emerging businesses.

An online trading platform aimed at linking registered small, medium, and micro enterprises’ (SMMEs) to supply chain opportunities from large South African corporations that have integrated global footprints will go live today, 28 March 2019, following its official launch by President Cyril Ramaphosa.

Submitted by admin on Thu, 03/28/2019 - 10:00

The prize is open to all industries and small business owners and female entrepreneurs are encouraged to apply.

Organisers have opened the application process for the Africa Netpreneur Prize Initiative (ANPI) for entrepreneurs on the continent.

Alibaba Group executive chairperson Jack Ma created the prize after making his first trip to Africa in 2017 and being inspired by the entrepreneurial potential of the young people he met.

Submitted by admin on Wed, 03/20/2019 - 09:35

Uninterruptible power supplies and back-up power inverter systems should be considered.

Many small South African businesses are now being forced to take loans to buy standby equipment to use during rolling electricity power cuts, said small and medium enterprises funder Retail Capital on Wednesday.

State-owned utility Eskom, struggling to produce enough electricity to meet demand, has for the last few days implemented load shedding which suppresses up to 4,000 MW of demand at a given time to avoid a total collapse of the grid.

Submitted by admin on Wed, 03/13/2019 - 09:50

Zande Africa uses a micro distribution model to allow spaza shops to take advantage of better pricing directly from manufacturers.

Local fintech company Zande Africa is offering an innovative financial and distribution platform to informal shops, known as spaza shops, a sector where 90% or more of transactions are in cash form.

Zande Africa says the spaza shop market in South Africa is valued at around R40 billion per year and growing at around 10% annually, but is characterised by unbanked owners with limited or no access to better financial products.

Submitted by admin on Mon, 03/04/2019 - 20:48

The partnership will provide businesses with funding options in various areas of their business. 

Cape-based small and medium-sized enterprises funder Retail Capital and asset finance firm First Asset have joined forces to offer more support to small businesses across South Africa that are growing despite a tough economic climate.

With banks being very tight on the rules and the support they provide for small businesses, Retail Capital has offered almost R2 billion in loans to date to around 10,000 such entities, predominantly retailers and restaurants.