WHAT'S INSIDE
HOSPITALITY
TRAILBLAZERS
PROFILES
DISRUPTORS
EDITOR S NOTE '
It’s 12:56AM and there’s something in the air that’s keeping me awake. I decided to sit up and write this note because I have missed doing this - writing this love letter to all our readers. The startupAFRICA team embarked on a journey to relaunch its website in an effort to communicate a lot more effectively and clearly to readers. In addition to that, we held back on publishing the up and coming issue in order to rework and revive our publication, an opportunity to afford you new and improved content! So, as I lay awake, I keep thinking about how African startups are spreading their wings and expanding outside the continent. This speaks to the growing maturity of startups in the local scene, and the need to reach more markets in order to reach scale. And perhaps what keeps me awake at night with eager and excitement isn’t only the rebirth of the new and improved publication but the knowledge that entrepreneurship is one of the keys to Africa’s economic freedom, although our startup ecosystem is in its nascent stages. A change to the startup landscape is required and angel investing needs to become part of our culture, in much the same way that cryptocurrencies have become. And I believe that Africa’s young entrepreneurs are as good as many in the world, they just lack a solid support system. I can’t emphasise (enough) the fact that startupAFRICA has very little to do with what the team and I want. It really is for the people. This place has become a soapbox for young trailblazers to tell their own stories with truth a passion.
To me, being able to help young entrepreneurs share their journeys means a lot because it is a vital catalyst within that support system that I believe is lacking. Apart from my many aspirations, I hope that this platform bridges the gap between the hopelessly passionate entrepreneur and their big break, whether it is funding from a large corporate or a gateway to great exposure within the public and media space. I also hope that the stories of ordinary people who are doing the extra ordinary are able to give you the same kind of hope they afford me. The kind of hope and excitement that will keep you awake on an idle Thursday when you just can’t seem to fall asleep because there’s something in the air. Enjoy!
Baradi Moletsane
COVER STORY
teboho theoha: the ordinary entrepreneur doing the extra ordinary By Baradi Moletsane startupAFRICA was thrilled to catch up with the Man of the Moment: Teboho Theoha, a trailblazing gentleman, born and bred in the Vaal, who left his inhibitions at his 9 to 5 to pursue his dreams in comedy and entrepreneurship. Unafraid, tenacious and crazily ambitious, Theoha let’s us in how the journey of becoming a humorist and business extraordinaire has been unbelievably tough and rewarding in equal measure. When asked (off topic) about what his thoughts on femicide and woman abuse are, he answered: “The fact of the matter is that we (society) refuse to talk about how men abuse and murder women. It starts with the microaggressions, the cat calling, the unsolicited calls, texts and explicit images we send women – you name it. It starts with Patriarchy - teaching little boys that little girls are play things, you know? It happens in our work places, where women are objectified no matter how high the rise in the corporate ladder.
COVER STORY
"the cheques are still coming in, and they reflect the quality of work we do" We talk about how women
I worked as an IT specialist and
Many of the people we try to
shouldn’t dress a certain way,
one of my clients actually
appeal to are so well-informed
avoid going out at night, how
recommended that I try
these days that you have to
they should be careful who to
standup comedy because of
have a clear and fresh
trust and and and, but we
the banter we usually shared.
perspective to present. The
never talk about how men just
It was crazy really, I performed
travelling is fun. I did the
need to stop being animalistic
a five minute set and got
Swaziland International
in character. It’s bizarre.
booked for the very next show.
Festival and even there,
Got my first comedy cheque
comedy is alive!
You seem to a busy man to
almost immediately after that.
pin down, can you tell us
Look, I haven’t looked back
What have been some of the
what it is that you do for a
since.
greatest challenges you have
living?
faced in the above field? Can you share a glimpse of
[Laughs] I’m a professional
your experience as a
With the boom of internet
standup comedian, radio host,
comedian? We can’t imagine
connectivity, people are able to
writer and serial entrepreneur.
it to be a walk in the park.
access comedy at their
Also, I run a creative
fingertips. This pushes us as
management company called
Being a comedian requires a
comedians to constantly come
Creative Granum and an
very sharp mind. You have to
up with fresh material. The
artisanal burger joint – Eesy
dig through the malaise of
switch from, slap stick comedy
Cheesy Burger Bar.
every day to find the funny.
to a more sophisticated and
Audiences aren’t as ignorant as
thought out material has been
some comedians think.
a wonderful thing to see. The
At what point in your career did you decide to become a
cheques are still coming in,
comedian?
and they reflect the quality of work we do.
COVER STORY Are there any comedians you
I’m there to provide comic
I worry that my comedy and
look up to, if yes, who?
relief as well as perspective on
my business life are always
various issues. It makes for
clashing. It’s not easy running a
Without a doubt there are,
riveting entertainment. It’s live
company and following your
guys like George Carlin,
so that’s always exciting.
passion. Luckily, I have an
Richard Pryor, Eddie Murphy
amazing support system that
and Mitch Hedberg have
What has the above
keeps me focused and firmly
always been icons of comedy.
experience been like?
grounded.
Madinga and Robby Collins are
Live TV is so awesome and
And what about some of
some of my favourite comedic
scary. I never in my wildest
your life changing
minds. They deliver their
dreams thought a million
encounters that you have
material with such wit that it’s
people would hear my voice.
experienced these past few
hard not to laugh when they
The response has been
years?
speak.
phenomenal. I come from a
Locally, Roni Modimola, Loyiso
very small community and
I recently lost both my parents
Tell us about The Morning
everybody is so proud to see a
and that shocked me to my
Papers that you host on
familiar face on the airwaves. It
core. I even stopped doing
eNCA.
brings great inspiration to
comedy. I thought I’d never go
those coming behind me.
on stage again. Then one day,
I’m a regular correspondent on
my nine year old son saw a
Weekend Wake Up with Dudu
When we talk about your
rerun of one my shows and
Ramela on eNCA. We discuss
career, what scares you?
told me he misses seeing me
news coming out of the big
being funny. That really was a
Sunday papers.
huge turning point.
COVER STORY
"validation is great from strangers, but so powerful from those closest to us" What makes your blood boil? People who don’t refill the ice trays. People who take too long at ATMs. People who don’t indicate before switching lanes. People who think mayonnaise and baked beans is a salad. People who think bigotry and being “savage” on social media is an acceptable
want to take up the liberty to get them out to the world. There’s a business aspirant who might be reading this, who’s afraid to break away from their 9 to 5 to achieve their goals, what would you like to say to them? So many of us die without ever
form of popularity.
having taken a chance on
So where to from now? What
the time but we never give
do we expect in the next few
ourselves. We ask for breaks all OURSELVES a break. It isn’t easy
years?
being on this path. Sleepless
Running a successful creative
renege on agreements. But
agency, having my own TV show, travelling a lot more and being a lot more chilled about life. My ultimate goal is to start producing great international content. We know how amazing South African stories are, so I
nights, long days, clients to what’s amazing is realising that armed with only your will, intellect and skill, you really can achieve a lot. Don’t quit your day job unless you absolutely, positively and unwaveringly believe that you can make it on your own. Belief is the first big step.
STARTUPAFRICA, SOON TO BE A MONTHLY DIGITAL MAGAZINE
What is your intention? ASKS KHANYA MODIPA "When you start to zero in on your intentions and begin to understand the reasons behind them, the scope of what you thought to be failure begins to change."
I COULDN’T GIVE AWAY MY POWER SO EASILY “You can achieve anything you set your mind to” how many of us have used this phrase and yet have never fully pondered the effect such simple words can have over our lives? This unassuming quote by Benjamin Franklin is the single most important reason I decided to move half way across the world to chase my dreams, flip my life upside down, and embrace the unknown. I know it sounds a little dramatic, maybe even a little insane considering that I lived with my parents for 25 years and had no inkling on what to expect in the United States, but I had an unquenchable need to prove a point and this seemed to be the only way to do it. You see for months preceding the big move I had been battling to accept that all there was to my life were my current circumstances.
I was wrapping up my final year to qualify as a Chartered Accountant and I had a Dark & Lovely campaign ready to be launched yet no matter how hard I tried to quieten the voice in my mind I couldn’t help but feel as though I could be doing more with my life. So, in November of 2016 I took the nagging stone out of my shoe, hopped on a plane and took off to Washington DC. The first few weeks were exciting, I was living in a country I had been dreaming about for a long time, and even though my overly sheltered life had me constantly searching “how to make rice?”, “how to turn on the washing machine?” or my least favorite “how to assemble a couch?” I was still here in the United States.
Nevertheless, the novelty soon diminished, feeling homesick and not quite achieving what I came to do, I found myself staring down countless nights wondering whether this sacrifice was still worth it. I came to the United States to be a model, but after a few twists, turns and feeling like I was going nowhere slowly, I realized I needed to set my mind on something bigger than just a modeling dream. What I started to notice was that no matter how many times a week I exercised, chasing agencies in New York and spending time in the mirror practicing poses, I needed to address a voice that I desperately wanted to avoid, “what if I simply wasn’t cut out to be a model, what then?”.
I didn’t want to be the girl who flew halfway across the globe and came back empty handed and so I kept avoiding the questions until I couldn’t do it anymore. I finally gave in and asked myself the toughest question to date “Khanya, what is your intention?”. I knew I could achieve anything I put my mind to but what was the intention of this achievement? What great desire was it fulfilling? I think inside each of us is a longing to matter, to prove our worth, that we weren’t just an accident or a mistake and although it’s a noble cause, it’s an exhausting one too. In the middle of trying to prove ourselves we miss being ourselves, so while I was on this whirlwind journey trying so hard to attain this dream I never
I KNEW I COULD ACHIEVE ANYTHING pondered what the intention behind it was and whether such an intention can grow further than just being a model. When you start to zero in on your intentions and begin to understand the reasons behind them, the scope of what you thought to be failure begins to change. Suddenly you get breathing room to explore how you can manifest your greatest desires in a multitude of ways. At the core of my dream was to inspire others, I wanted to be a part of the representation of black women in an industry that has been known to do little of that.
I haven’t let go of my desire to be a model but I’m also not afraid to let it take different forms based on the phases of my life. Looking back on the 15 months since I’ve moved I can’t help but feel proud because I know that no amount of staying in my comfort zone would have taken me on such a long and winding road of self-discovery.
I WANTED TO INSPIRE
I had do leave my comfort zone
But what I started to embrace was that my representation and worthiness was not dependent on whether I became a model. I couldn’t give away my power so easily and so I looked at what I was good at and enjoyed doing and that’s when I expanded on my blog and started my YouTube channel. The channel has since given me the platform to be the representation I want to see in media and to continue to inspire the very same people I wanted to inspire with my modeling.
The truth is I am never going to be the same woman coming back home no matter what happens on this journey and that is the best gift I could give myself. We must thrust ourselves into the unknown and into the fear because it is exactly in the unknown that we find who we are.
SUNCYCLES GETTING NAMIBIA MOVING WITH E-BIKES BY SIMOSETHU ZONDI
“For a country with inadequate public transport systems and a general cultural aversion towards bicycles, the uptake in Namibia has been surprisingly good.” So says Marita Walther, who alongside husband Bernhard founded SunCycles Namibia in 2015. The startup is pioneering “e-bikes” in the southern African country, to great effect. An electric bike is just like a normal bicycle, but has a battery and motor providing the rider with extra support when going uphill or covering long distances. What’s more, the electric bicycle’s batteries are solar-powered, and can be recharged, for free, by the Namibian sun. “Knowing that many people in our environment often spend large amounts of their disposable income on energy and mobility, we decided to provide a solution that could cater to those needs,” Walther said. SunCycles rolls out its product by providing modified shipping containers – retrofitted with batteries, solar modules, solar home systems, electric bikes and electric scooters – to local entrepreneurs. Customisable to suit any electricity or transport need, these SolarHubs are run as independent economic entities to support the community’s daily needs. “Our solution combines knowledge and skills from a local workforce, taking a holistic approach to supporting local entrepreneurs. With solar and mobility services that can be resold at affordable prices to the community, it aims to strengthen independency from fossil fuels and multinational corporations,” he said.
The self-funded company has been working in partnership with non-governmental organisations and private companies to co-fund its projects, with Walther saying uptake has been surprisingly good. Key to SunCycles’ ethos is a strong social responsibility towards the communities it works in. “Because we’re a young company, we do not have the financial means to support these projects single-handedly, so we often combine forces with bigger, environmentally-conscious organisations or financing institutions in order to have a larger impact,” Walther said. “As an example, we’ve recently delivered e-bikes to rhino rangers working in a remote conservancy in western Namibia, a collaborative project with the tour operator Ultimate Safaris through its Conservation Travel Foundation. We’ve also delivered e-bikes to kindergarten teachers and game guards in rural areas, in partnership with the Bicycling Empowerment Network and FNB Foundation.” So far, the company has delivered around 100 e-bikes in all shapes and sizes to a variety of users spread all over Namibia. It has also delivered 3 e-bike taxis – boda bodas – to a partner project in Uganda. This is just the start of its expansion plans. “Over the last few years, we have worked mainly at expanding our reach across all corners of Namibia, but also have an established project partnership in Uganda. We are currently finalising the next steps to expanding our solution to neighbouring SADC countries,” he said. SunCycles, which creates revenue through rentals and sales of e-bikes and solar systems, has faced challenges in getting its solutions adopted in its home town of Windhoek, Namibia’s capital, and instead had to focus on rural areas. “Initially, we expected to have a much bigger impact on the current transport environment in the capital of Windhoek. As residents of the city, who support more viable economic alternatives, we had hoped for more support from the municipality,” said Walther. “Unfortunately, the process of establishing a non-motorised transport network and infrastructure in the city has proven to be a very slow one and to date there have been no developments to support the move towards more sustainable transport. On the plus side, the lack of support pushed us into pursuing other alternatives, which turned out to have quite a positive impact on our reach across the country.”
"We stuffed up - big time..."
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Did you know that Yoco nearly shut down? By Asanda Mtili In a tell-all session at FuckUp Nights Cape Town — held in Cape Town on Tuesday evening (20 March) and hosted by Aspiring Black Leaders and Cape Town Office — Maphai detailed the struggle he and his three cofounders faced before they were able to clinch the startup’s first round of funding. The deal, which involved an undisclosed amount in a round led by USbased Quona Capital and Netherlands-based Velocity Capital, was announced in March last year. There were moments where we literally had a month of capital in our bank account. We were just raising angel and family office money to allow us to continue,” says Maphai.
It took Maphai and his team two years before they were finally able to conclude what was their first, Series-A funding round. After a brief career in management consulting and as a venture builder with Rocket Internet, Maphai founded the startup in 2015 with Lungisa Matshoba (who studied together with Maphai), Bradley Wattrus (who he worked with at Rocket Internet) and Carl Wazen (a former consultancy colleague). It was in late 2012, that the four first began working on the idea for the startup — how to make it easier for small businesses to accept manual credit card payments. The four then spent a full year trying to get a license to operate.
“We literally packed up our bags and moved to Johannesburg to do that. We were self-funded and really before the end of this period we could have been told that ‘you are not getting the license’ and we literally could have failed before we even started. And psychologically that was really tough,” recalls Maphai. After they were able to secure a license to operate as a payments company, the four moved back to Cape Town, where they were able to get their first angel funding. About a year later, in late 2014 the company went live with its first customers and decided to hunt for a Series-A round.
"We really got on track with our mission, which is to support smaller businesses" “Really it was here that we really started to stuff up. We, in our minds had been operating for two years, but in truth the company had only been operating for two months. And we went out to the market to try raise capital and it was a complete disaster,” he admits. Linked to this, the four had made promises to their staff of salary increases. But instead of focusing on acquiring customers and helping SMEs, the four were focused on trying to close the funding round — by aiming to drive up client volumes by signing up larger businesses, for example. “If I go back to this period, the 2015 period, we were just taking fund raising meetings. It was not working out. We were getting rejections. If we weren’t getting rejections we were getting really nasty pricing on our (funding) round,” he says. But he says in the end those tough times had a positive effect on the business. “This really toughened us up, really got us to understand like what drives this business. And also amazingly within the process we really got on track with our mission, which is to support smaller businesses,” he says.
Out of this the four developed a key metric — to track first-time card acceptors. Today, for 75% of the company’s 20 000 card machine users, it is the first time they have ever accepted physical card payments. The company is now raising a Series-B funding round, to assist the company to expand into new markets internationally. ‘Knew nothing in beginning’ Maphai points out that when the idea for Yoco was born, the four knew little about the payments sector. “We knew shit about the payments industry, when we started. We spent most of the early days identifying experts within the industry, finding them and taking (them for) coffee, building up those relationships,” he says. What also helped was assembling an advisory body made up of the right experts, says Maphai.
“We knew shit about the payments industry, when we started" “There were no ways we would have gotten that license to operate without that. They weren’t even looking at us. They were looking at our advisors and the fact that the advisors said ‘these guys know what they are doing’,” he says. And what does it take to be a leader? It’s the ability to think long term, says Maphai. “What I’ve found is that when you think in those horizons and when you condition your mind to those horizons, your perspective on whatever is going wrong and right completely changes. You see it as a ripple and not as this big sort of amplitude that is going to last forever.” Says Maphai: “When you have that perspective you are able to have belief. And when you have belief you can constantly infuse that into your team.”
They say food is love, and when prepared by passionate chefs who have a love and respect for the ingredients they use, combined with a creative
Ntediseng Mwale Putting the love and passion into cooking
eye and hand, that love is passed on to the customer. South African chef and entrepreneur, Ntediseng Mwale (Teddy), founder of Excellere Foods, is passion personified in the kitchen. What does your company do? At Excellere Foods, we specialise in catering and confectionery. What inspired you to start your company? I have always loved to cook. The thought of making money and improving my life and the lives of those around me, by doing what I love just inspired me to go for it. I am also about woman empowerment. As
BY ASANDA MTILI
a mother of two girls, I wanted them to grow up seeing that a woman is capable and equipped to care for herself and those around her, not just emotionally and physically, but financially too.
"I knew I had find people that I would work with for years to come." Why should anyone use your service or
Share a little about your entrepreneurial
product?
journey. And, do you come from an
I love what I do and I believe people can actually
entrepreneurial background?
taste as much in my food. There is cooking, and
Oh yes, my dad, who is now retired, was an
then there is cooking with love and passion. The
entrepreneur for as long as I can remember. He
difference is in the taste and presentation. I care
sold anything and everything - from live chickens,
for my customers' health and well-being. As a
to milk, salt, traditional beer, and eventually he
result, each time I cook my heart out. That is one
opened his own brick-making company. My sister
attribute that very few people possess.
is also well established in her logistics business. For me, it had to be cooking. From a young age I
Tell us a little about your team
loved to cook. I even found the way to my now
Well, I am blessed to work with some really
husband's heart through his stomach as they say.
talented individuals. Both my chefs have been in
The journey as an entrepreneur has been
the industry for over 10 years and are very strong
somewhat bumpy yet fulfilling.
cooks with a lot of creativity and energy. Added to the team is a vibrant young man who is our
What are your future plans and aspirations for
baker. And then there is our barman Justice - the
your company?
calmest, hardworking and talented Justice. These
We plan to open a culinary institute to train our
guys have become family to me. I didn't go out
youngsters to become chefs. I want to encourage
looking for male team members but when I found
them to travel the world and experience various
these guys, I knew I had find people that I would
cuisine, cultures and life outside South Africa. We
work with for years to come. We spend so much
are also in process of commercializing our frozen,
time together it feels like we live together. They
healthy dessert which will be exported to various
can definitely handle the pressure and the long
countries.Â
hours.
Trailblazers
Jacqueline Ntuyabaliwe Tanzanian In her former life, Jacqueline Ntuyabaliwe was a Tanzanian beauty queen and musician. These days, she is one of Tanzania’s leading female entrepreneurs. Ntuyabaliwe is the founder of Molacaho, a fast-growing Tanzanian furniture manufacturing company. Molacaho designs and manufactures quality made-to-order furniture, furnishings, designer fabrics, lighting, decor, garden furniture and rugs. Molacaho has created a high-end Afro-centric furniture brand that subtly blends traditional Tanzanian fabrics into contemporary, worldly designs to present a transcontinental finish. All Molacaho’s products are made using locally sourced, sustainable materials. Molacaho has a modern factory in the heart of Dar es Salaam as well as a showroom. The company employs more than 30 Tanzanians, and has started exporting its pieces to Europe.
MORE LIKELY TO BE A DEMOCRAT
NASIR YAMMAMA FOUNDER, VERDANT AGRI-TECH
It all began in 1996 in the village of Yammama. On a clear day here, a blue sky covers the heavens and white cotton fields light the ground below. A dozen brightly-painted trucks are lined up; workers load sacks upon sacks of cotton. Then six-year-old Yammama, who carries the name of his village, walks the fields with his father. He saw the workers sweating and vowed to improve the work of farmers in Africa. In 2014, he founded Verdant AgriTech, a social enterprise to support rural farmers with mobile technologies for sustainable farming and improved food production.
“The company was founded on the premise that smallholders should be able to produce more, sell more, make more profit and thereby attain an improved standard of living by using simple technologies,” he says. Yammama began with 50 farmers in Katsina, his home state. He taught them to use their basic phones to gather market information, weather and management skills, and financial services. Yammama has achieved a lot. He studied information technology and business information systems at Middlesex University, London, has a master’s in creative technology, was
selected among 50 Global Entrepreneurs for the MIT Global Entrepreneurship Bootcamp and won numerous awards, including the British Council and Virgin Atlantic’s Enterprise Challenge in 2015. This gave him the chance to be mentored by Sir Richard Branson and receive a start-up grant for Verdant. In collaboration with Oxfam and GIZ, Verdant is currently running a project to support 25,000 farmers. This June, Yammama will also receive the Queen’s Young Leaders Award in England.
NIGERIAN
NDIJEKA AKUNYULI CROSBY
Ndijeka Akunyuli Crosby is a Nigerian generating a buzz on the African continent with her giant strides in the world of arts and paintings. The Enugu, Nigerian born icon is currently based in Los Angeles, California. After completion of her secondary school education at Queens College, Lagos at the age of 16, Ndijeka travelled to the United States of America for further studies. She bagged a Bachelor of Arts from Swarthmore College and Master of Fine Arts (MFA) from Yale University School of Art. The uniqueness of her works lies in an eclectic combination of collage, drawing, painting, printmaking and photo transfers. It is instructive that one of her paintings tagged “Drown” done in 2012 , an acrylic and transfer-on-paper scene of embracing lovers, sold for $1.1 million at Sotheby’s last year which represents a 300 per cent increment of the value of the work estimated at $300,000. Observers believe Akunyili engages in a global narrative about social and political issues by depicting an imagery that transcends the specificity of individual experience.
KHETHI NGWENYA
19
FOUNDER, SCHOOL MEDIA Ngwenya’s journey in entrepreneurship started at the age of 10. “I used to sell firecrackers with my aunt and when I was about 12, I borrowed money from her and started selling firecrackers for myself. It was good money during the holidays. I made money and grew to selling sunglasses to my teachers and I realized entrepreneurship was a lucrative avenue,” he says. While he was in school, at the age of 17, he was elected CEO of the Young Entrepreneurs of Soweto, an organization that teaches people between seven and 23 years old how to start a business. “I learned about entrepreneurship and we would also do community outreach and I noticed young people don’t have enough information reaching them that can help in their development.” It inspired him to start School Media; a company that connects brands with schools by helping clients rent advertising space in schools, in 2010. He didn’t stop there. He also founded Xhuma, a company that uses USSD codes to connect parents with schools. “Some schools don’t have websites and others don’t have printing facilities to send information to parents. So in this way, a parent can dial a number from any phone and get information, like the school exam timetable, scheduled meetings and any communication the school might wish to send to parents,” says Ngwenya.
Ngwenya employs eight people, turns over $375,000 a year and counts Orlando Pirates and the Gauteng Department of Education among his clients. In 2011, Ngwenya founded a Going Green Project which has managed to educate 100 schools on environmental awareness and planted 4,500 trees in schools across South Africa. In 2016, School Media hosted an event attended by 16,000 youth and had former President Jacob Zuma as a keynote speaker.
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In 2012, School Media secured advertising rights in 9,000 schools; was nominated for the 702 talk radio Small Business Awards in 2013, and Ngwenya was nominated as a WEF global shaper in 2015.
ALLEGRO DINKWANYANE FOUNDER, ORGELLA MEDIA
Dinkwanyane spends her life wired into the internet where she makes her money. You could call her the poster child of social media; Dinkwanyane makes a living from telling stories of the rich and famous. Her entrepreneurial journey started not in an MBA classroom, but in journalism school, when she was given an assignment to start an online blog. Impressed, her lecturer encouraged her to keep at it. After diligent research, planning and a lot of soul-searching, Orgella Media was born in her university dormitory in 2011. Orgella? “I was inspired by Oprah’s Harpo because it’s her name spelled backwards. From the time I saw it, I started writing my name backwards and realized there is a good ring to it,” says Dinkwanyane. Orgella Media started as an entertainment blog and has now diversified into public relations (PR), charity and property divisions. Dinkwanyane’s public profile increased over the years. She represents the likes of South Africa’s music sensation Donald, TV presenter Siya Mdlalose and fashion designer Paledi Segapo. She also has corporate clients like Avon South Africa, Africa Fashion Week Nigeria and Poppy’s Restaurant and employs eight people. She may spell her name backwards but her business is going forward.
NIGERIA’S TRADEDEPOT BANKS ON FUNDING TO GROW CUSTOMER BASE
By Cue Sibiya Earlier this year, Nigerian startup TradeDepot, an innovative SaaS platform for fast moving consumer goods (FMCG) distribution in Africa, became the first recipient of funding from Partech Ventures’ recently launched Africa Fund to expand in Nigeria and launch in other countries. The US$3 million funding round marks a significant milestone for TradeDepot, which was founded in 2016 by Michael Ukpong, Onyekachi Izukanne and Ruke Awaritefe, and has developed a 360° solution integrating all participants in
the trade value chain – manufacturers, distributors and retailers. It has been already been adopted by first rank FMCG companies and deployed across Nigeria in distributors’ warehouses, with the startup now planning on expanding its client base at home and abroad on the back of the invesment. Through TradeDepot’s platform, small retailers have a real time view of all prices and discounts available from every major brand. “They can directly order products, which are then delivered to them as the order
is routed to the appropriate nearby depot,” said co-founder Izukanne, who is also the startup’s chief executive officer (CEO). “At the same time, manufacturers have full visibility over their distribution and can leverage the platform to optimise deliveries to their distributors, improve their pricing and have a direct channel towards their end-retailers.” The three co-founders have a strong track record, having jointly founded and worked together at three startups over the past 15 years.
“Our first venture was an IFC-funded edtech startup, after which we founded a technology consulting company that we grew to become one of the leading SAP consulting houses in West Africa with over US$40 million earned in revenues,” Izukanne said. Within the technology consulting business, while deploying enterprise supply chain solutions for various large consumer packaged goods (CPG) companies in West Africa, including Cadbury, Coca Cola Hellenic, and the UAC Group, the team became familiar with the bigger problem these companies had with managing their route-to-market and getting their products to retail. Thus, TradeDepot was born, and it has experienced relatively instant success. “Our goal is to build the fabric of trade between CPG companies, their distributors, and millions of small and mid-size retail stores across Africa,” Izukanne said. “Several of our existing clients are multinational companies and already have rollout plans in place to deploy the platform for their businesses in other markets across Africa over the course of the next 18 months.” That said, the startup’s immediate focus is still the Nigerian market. “We are aggressively focused on growing our retail coverage in Lagos and in other regions across the country, and this round of funding will help drive this objective. We expect to significantly grow our retail coverage in key regions in Nigeria by the end of this year,” said Izukanne.
“We work with six CPG companies in Nigeria, including Promasidor, Coca Cola, and Population Sciences International. We have also signed up several distributors, including the numer one third party logistics provider in Nigeria MDS Logistics, whose 50 depots all around the country have been integrated onto the platform.” This significant customer base saw TradeDepot increase revenues by around 400 per cent between 2016 and 2017, but Izukanne said getting to this point had been a challenge for the startup. “Our target market on the retail end comprises lots of small and unsophisticated informal retailers for whom adopting technology is often a big ask. We however consider this a feature not a bug, and have built with these constraints in mind. For instance, in lieu of expecting these users to raise their orders using mobile apps we have rolled out alternative channels via things like USSD that the users can access to trigger the process,” he said. “In addition, a lack of actual trade and consumer data was – and remains – a challenge for proper planning, but we increasingly see this as a massive opportunity that the platform we are building positions us to exploit.”
On A Roll With Used Tyres NGWANE’S ENTREPRENEURIAL JOURNEY UNRAVELED WHEN SHE RELOCATED FROM THE TOWNSHIP TO THE CITY IN RUSTENBURG... By Asanda Mtili Reabetswe Ngwane makes trendy bags from an unlikely raw material – used tyre tubes. Reabetswe Ngwane has come a long way from Rustenburg, and she has covered the journey on recycled tyres – literally. The bubbly and ambitious Ngwane, raised in Mogwase,
a township in Rustenburg in the North West Province of South Africa, recycles tyre tubes for a living, and has been able to turn waste to wealth. When we meet her in the affluent suburb of Sandton in Johannesburg, she is late, having driven in from Rustenburg after another meeting. Dressed formally in black, she settles to talk
about where it all began. Ngwane’s entrepreneurial journey unraveled when she relocated from the township to the city in Rustenburg where she started her first business with a friend. They recycled plastic bags, turning them into school bags with solar lanterns, provided to kids in underprivileged areas.
TAKE TIME FOR YOURSELF TO DO WHAT YOU LOVE, WHAT MAKES YOU HAPPY AND GIVES YOU ENERGY Unfortunately, that partnership did not last. “Then we parted ways respectively in business and generally. That’s when I started the tyre business with my sister [Katlego],” says Ngwane.
THE BUSINESS’ MAIN FOCUS IS RECYCLING TYRE TUBES TO MAKE FASHIONABLE BAGS. The business picked up. They were approached by REDISA (Recycling and Economic Development Initiative In South Africa) who offered to handle their Rustenburg tyre depot. Ngwane wanted to learn and research more about all the elements that went into the tyre business. So she did what most wouldn’t think of – she consulted with the people pushing trolleys on the side of road recycling scrap. “They work extensively at the mine fields; in a nutshell, they are industry experts. We went to them, consulted with them. [About an] alternative to plastic, because that’s all I knew. I asked them ‘what else I could use as a resource to make up products’ and they advised on the tyre tubes and it became a business,” she says. The business’ main focus is recycling tyre tubes to make fashionable bags. The whole process begins by transporting the tyre tubes to one of their work sites where they wash, clean and refurbish them. They are then taken to a production factory where they are cut into respective patterns depending on orders.
Ngwane has her products in a store, Mememe, in Cape Town in the Western Cape, and another in South African capital Pretoria, called In Bloom. She also takes orders online. Her bags range from R500 ($43) to R1,400 ($120). Ngwane is the first to break into this kind of market, she says. She recalls the days she had to knock on several doors to get her business going. Her research involved ongoing conversations with users in the mines asking them about the durability of canvas. Ngwane is contracted to an entity that supplies a lot of the mines in the North West of South Africa with PPE. With her sister Katlego, their company, KreamFields, has been in operation for the last two years, and their fortune is growing. Their work also has social significance as recycling waste means helping the environment rid itself of rubber scrap. Ngwane seems to have literally reinvented the wheel turning tyre tubes to tote bags.
Abiola Adediran
INCREASING THE FINANCIAL CAPABILITY OF NIGERIAN BUSINESSES.
Q&A BY CUE SIBIYA What inspired you to start your company? I was inspired by the need to provide solution to some of the business challenges faced by small and medium sized businesses. From my experience of working with entrepreneurs and business owners across different sectors, I see the need for them to understand how to put structure in and get visibility over their businesses, how to take control of financial management, operate more effectively, manage risks better and increase their economic potentials. Why should anyone use your service or product? Our service offerings help business owners to find solution to business problems, create the desired business transformation that help them scale in profitability and operate more effectively. The practical nature of our advice, strategy and reports mean that it’s easy to understand and completely actionable.
 We do not only advise, we also help to implement the recommendations. Tell us a little about your team. Midridge is resourced with a network of experienced advisors who have a deep knowledge of global best practice and also possess the requisite local experience to provide practical solutions tailored to the African environment. We also leverage on strategic partnerships that ensure that our clients get the best advice and support from us. Share a little about your entrepreneurial journey. And, do you come from an entrepreneurial background? My entrepreneurial journey started when I was an undergraduate in the University. I started a small business that sought to cater to the needs of my fellow students.I started with buying and selling of imported make-up products and also learnt how to do make-up professionally at a time in the early 2003 when the beauty and make-up industry was becoming popular in Nigeria.
"We also leverage on strategic partnerships that ensure that our clients get the best advice and support from us." I also started buying and selling men & women wears and kitchen accessories. My clients were mostly bankers who I knew were usually too busy to do shopping by themselves because of the demand of their jobs. I provided value-adding service of convenience shopping by bringing these products to them and offering them flexible payment plans. I later gained employment in one of the big 4 consulting firms where I worked with various clients, providing business assurance services and preparing and/or reviewing their financial statements and advising on internal controls to mitigate risks of fraud and loss of assets.
"MY ADVICE WILL BE THAT THEY SHOULD BUILD A BUSINESS AROUND THEIR PASSION AND THAT PASSION MUST BE SOLVING A PROBLEM."
What are your future plans and aspirations for your company? Midridge as an organization has an ambitious vision and clear mission which dictates all our business strategies.
Our Vision is to be the leader in driving the revolution of creating the finance function of the future as strategic business partners and Our Mission is to help forward-thinking businesses to build and support their finance function to maximize their economic potentials and deliver long-term value consistently. Our future plan is to see this company growing and continuing to provide high value CFO advisory and business consulting services to our clients. We intend to use both personal and professional networks to establish our reputation and leverage references from satisfied clients. What gives you the most satisfaction being an entrepreneur? I think being an entrepreneur is great because the possibilities are endless. You can be as creative and innovative as you want to be, and the results are most rewarding. Starting my own business has been empowering, challenging and exciting all rolled into one. The best part for me is a feeling of contributing to something larger than myself.
What's the biggest piece of advice you can give to other women looking to start-up? My advice will be that they should build a business around their passion and that passion must be solving a problem. They should also realize that they will not always have all the answers and so should seek out people with expertise where their skills may be lacking and use the knowledge to achieve their goals.
Phindi Msomi
By Simosethu Zondi Creating a working environment where employees can thrive and excel is a challenge for many companies and organisations. For South African company, Olwazini Consulting Services (Pty) Ltd, founded by Phindi Msomi, this represented a key business opportunity.Â
Helping employees to become more effective at work
What does your company do?
Tell us a little about your team
We are an organisational effectiveness consulting company; we tailor make business improvement solutions by aligning employee wellness, your business processes and HR interventions to help drive your strategy implementation and impact on the sustainability of your business, using our uniquely designed ROI measurement tool.
I have an amazing team of permanent and casual staff. My team is made up of Counsellors who have a Psychology background and they are responsible for the wellness projects we undertake for various clients. We sub-contract Registered Nurses and other Occupational Health specialists. We also have full time HR & Business Management Consultants who look at the overall HR and Business consulting services. We also have a Project Manager who is responsible for the smooth running of all our projects and is the liaison point for our client relations, as well as an administrator who also doubles as my PA ensuring that we all know what is going on, have all the resources we need, and can schedule client appointments and reports.
What inspired you to start your company? I was first prompted by the need to provide for my kids as I was dismissed from work and was no longer willing to work for anyone else, applying the unfair rules of Corporate HR. When I started my business plan I knew that I wanted to solve the challenges I encountered as an HR Practitioner, IHR Manager and Acting HR Director. I wanted to provide a respected holistic and measurable HR solution to businesses.
"We tailor make business improvement solutions"
Share a little about your entrepreneurial journey. And, do you come from an entrepreneurial background? It was a very difficult journey (still has its challenges). I was once faced with an eviction notice as i didn't have any new business and had no cash flow when I started out. I lost my car and was working inside my house in one of the extra rooms, as the cottage which is now the office had to be leased out to provide food for my children. I don't come from an entrepreneurial background but my MBA has played a crucial role in preparing me to take on this role. What are your future plans and aspirations for your company? I would like to hire more people and develop my contract/client base to cover a lot of corporates, as at the moment my business is in the public sector. I am busy working on my new business, Hazile Group, and I want to position myself in the areas of Renewable Energy, and Water & Sanitation, and provide big corporates with the transport and logistics support they need.
What gives you the most satisfaction being an entrepreneur? Being able to provide jobs for other people. Also the learning that comes with the day to day challenges, which I in turn pass forward to the women and girls who are supported by my nonprofit organization. What's the biggest piece of advice you can give to other women looking to start-up? They need to properly save and plan for at least one year's worth of overheads and salaries for those people who will be part of the business at start-up stage to ensure they have salaries and can cover expenses for that period when there is no business yet. In this way they will not be overly stressed but can concentrate on the proper business development function instead of just mere survival. Also that they must not stay down too long each time they fall, as fall they will, but they must get up, and do it over again, learning each time they fall about how not to fall that hard the next time and how to keep standing for a little longer each time.
HOW TO CREATE A STRONG FIRST IMPRESSION AS A LEADER By Zanele Mthethwa
1
Give a warm greeting, but don’t smile creepily
Give a warm greeting, however brief, to show you can find commonality and connection among different personalities and in varying circumstances. Make eye contact. Give a confident, but not too tight, handshake. Not a handshaker? Share a partial upturned smile for a great impression, since most people think extreme V-smiles or too many teeth are creepy unless you want to make your employees think you’re going to eat them for lunch. An asymmetrical or slightly crooked smile that shows a few teeth is fine, as long as it’s your genuine
2
Get excited about something
Do you genuinely care about what you’re saying? Do all the faces look the same to you now, no matter what company you work for? Does your heart still race and you turn white as a sheet in front of people after all these years? If you lack energy, it will reflect on your audience -so if you want your employees to get excited about something, you should radiate it to your employees. If you wonder why everyone else gives you a lackluster greeting at your arrival, your presence and expression are likely failing to convey the energy that fuels passion and enthusiasm. If you care, so will they. Find a detail -- no matter how small -- and use it.
3
Setting and work culture should inform attire
Ask about and investigate the setting before you show up. What are the dress and work culture like? Do employees dress business casual or in full suits? What about C-level employees? Is there a clear difference? What about when you are client-facing? Will you meet with clients that day? Define professional dress according to the setting and work culture, as well as your personality. Don’t obsess over these factors, but don’t forget them, either. In a more laid-back work culture, if it’s a day you know you won’t have client meetings, dress cleanly and professionally, but forgo the full business suit. Accessories also add personality and communicate little details. For example, geometric details on a tie or jewelry can communicate structure, innovation and personality.
4
Wait
Silence establishes presence, so you don’t have to communicate authority by talking to fill up space. It also shows you’re taking in your surroundings. Add a thoughtful smile and express your appreciation for the talent in the room. Everyone will feel welcome and valued, and you will appear approachable and open.
Pauses also accentuate important points and lend weight to them during talks, presentations and conversations. Pausing also helps if you have a problem with using too many verbal fillers or if you feel a tad nervous because you want to make a good first impression as a leader.
Tone signals trustworthiness
5
People can base their impressions on tone of voice in as little as 500 milliseconds because human fightor-flight instincts are so finely tuned. Wasting time trying to decide if a voice is trustworthy or untrustworthy risks survival. While you don’t have control over the length of your vocal tract, you do have control over your eyes, smile and tone. Use a clear, confident voice with a warm tone for a great first impression. As you make the next move, focus mindfully on the first impression you would like to give. What impressions have you left behind for prior shareholders, fellow leaders, employees and clients? How does that inform your reputation today? Is there anything you’d like to change going forward? From body language to tone, your first impression is essential to building trust, which will play a part in cultivating a healthy work culture and morale, open communication and productive staff. Forget faking it until you make it -- you’re already there. Lead with authenticity, and these tips will help you communicate the rest to make the best first impression as a leader.
Remember, your leadership will set the tone for nearly aspect of the company.
“TO BE AN ENTREPRENEUR IN AFRICA YOU MUST BE RAVING MAD” BY MBALI SIBIYA
“I remember someone sayi ng that to be an entrepreneur you had to be crazy, but to be an entrepreneur i n Afri ca you must be ravi ng mad. ” That’ s accordi ng to Rebecca Enonchong, founder and chi ef executi ve offi cer ( CEO) of gl obal enterpri se appl i cati on sol uti ons provi der AppsTech, who was speaki ng at the Seedstars Summi t i n Lausanne, Swi tzerl and, l ast week. Enonchong i s no stranger to seri ou busi ness chal l enges. She l aunched AppsTech i n the US ( Uni ted States) i n 1999, where she faced the i nevi tabl e
chal l enges wi th bei ng a forei gn, femal e entrepreneur i n the tech fi el d. “I deci ded I was goi ng to be a gl obal company from day one. Nobody tol d me a forei gn bl ack woman i n tech coul dn’ t bui l d a gl obal company, ” she sai d. Enonchong pretended she was a corporate when she fi rst l aunched AppsTech, and mi mi cked corporate websi tes. Her busi ness cards had no ti tl e on them, so she coul d cl ai m any rol e. “So many peopl e coul dn’ t see that behi nd thi s gl obal company was a forei gn bl ack woman, ” Enonchong sai d.
“Through thi s ruse we went to over US$30 mi l l i on i n revenues wi thi n the fi rst three years. We had over 14, 000 users i n three countri es. And we have conti nued to grow. ” I t had al ways been Enonchong’ s goal to l aunch her busi ness back home i n Cameroon, somethi ng she di d not thi nk woul d be too chal l engi ng after the obstacl es she had overcome bui l di ng her busi ness i n the US. “I was so wrong, ” she sai d. “One of the l essons i n goi ng i nto Afri ca i s that i t i s di fferent. There’ s no textbook. I di scovered the hard way how di ffi cul t and di fferent i t i s to do busi ness i n emergi ng markets and Afri ca. ” She recal l ed heari ng someone say that to be an entrepreneur you had to be “crazy”. “Wel l , to be an entrepreneur i n Afri ca you must be ravi ng mad. Bui l di ng a busi ness as a bl ack Afri can woman i n tech i n the US i n 1999 was nothi ng compared to doi ng i t i n Afri ca i n 2004, ” sai d Enonchong.
“I n the US there’ s an el ement of trust i n busi ness. We carry out a proj ect, you pay the bi l l , end of story. I n Afri ca, everythi ng was prepai d – rent, el ectri c, phone – because of l ack of trust. We had l ots and l ots of chal l enges. ” However, she advi sed entrepreneurs to react i n the ri ght way to di sappoi ntments and chal l enges. “Rather than be angry, as entrepreneurs we take negati ve energy and make i t i nto somethi ng posi ti ve, ” she sai d. Enonchong hersel f got acti ve i n hel pi ng the Afri can tech ecosystem grow from the ground up, co- foundi ng Camerooni an i ncubator Acti vSpaces and the Camerooni an Angel s Network. “We started to devel op and bui l d the ecosystem, not j ust i n Cameroon but across the Afri can conti nent, ” she sai d.
LIGHTS, CAMERA, FASHION! Vanessa C
Depending on your personal style, there are one or two pieces of guys' clothes you can incorporate into your looks from time to time. I have a thing for guys sweaters and jerseys. I find it easy to mix them up into my personal style because my style is more on the subtle glam but relaxed enough to feel comfortable. You can keep reading for some pointers on how you can also become a pro at mixing guys' clothes in your everyday look. Figure out which guy clothes you like? You are probably thinking, but, Nessah how do I know which of my man's clothes I would love to rock? First of all, you don't necessarily need to have a man, you can just walk into the guys' section in your desired shop and then pick and try what you gravitate towards. Of course, it must mesh well with your personal style.Â
Be comfortable After picking out the clothes that draw your attention it is important to note that men's sizes are different from women's clothes so be sure to try them on before making a purchase. Ensure it fits well and it sure should be flattering because the last thing you want is for people to look at you and think you are trying too hard. Keep it feminine Like the title states, we are borrowing from the guys so do not go for a full on men's outfit. Incorporate a pair of shoes, pants, a t-shirt, sweater or a hat but not all of them at once because over doing it might give people the wrong impression and nobody needs With Coleslaw Mix, Sweet that. At most I would say wear two pieces of guy's Mango and Fresh Cilantro clothes in your outfit.Â
For my look below, I wore a men's jersey with one of my very common formal-ish looks. As we all know, a white shirt is a wardrobe basic and classic. I paired it with another wardrobe basic, black leggings. Building my outfit up from basics, I added a "scarf"/tie, the jersey, a pair of Louboutins to keep it feminine. Should the temperature drop, a waterfall coat is an option. I hope this leaves you ready to either shop a bit of men's wear or raid your man's wardrobe (haha).
A white shirt is a wardrobe basic and classic.
STARTUPBOOTCAMP AFRICA PARTNERS GOOGLE TO SUPPORT STARTUPS
It has now partnered with Google to offer additional support to selected startups, who will be eligible for membership in the tech giant’s Cloud Startup Programme.
By Wesami Oleuchi
“The Google Cloud Startup Programme is designed to help startups build and scale using the Google Cloud Platform. We are a small team with startups in our DNA,” said Naama Yanko, the primary Google Cloud contact for the Startupbootcamp Africa finalists.
Startupbootcamp Africa has signed a formal partnership with the Google Cloud Startup Programme, which will offer startups selected for the Cape Town-based accelerator more than US$20,000 worth of tech support. Applications remain open for the Startupbootcamp Africa programme, which took place for the first time last year and has been holding FastTrack events across the continent in advance of this year’s edition, which runs from August until November.
Membership of the programme includes US$20,000 in Cloud and Firebase credit, access to Google engineers for office hours, in-depth oneon-one architecture reviews, and invitations to exclusive local events.
“We appreciate what makes early-stage companies tick, and we think that Google Cloud’s continued success over the next decade will be fuelled by great companies yet to be born. But like you, we’re mostly here because startups are challenging and fun and we wouldn’t have it any other way.”
FINTECH STARTUP OYAPAY NIGERIA’S OYAPAY LEVERAGING BLUETOOTH, QR FOR PAYMENTS
BY GIDEON CHEKUMBU Nigerian fintech startup OyaPay is leveraging the power of Bluetooth Low Energy and QR to process payments offline, describing itself as “Alipay for Africa”.
“For example, a merchant can use the money they received through OyaPay to buy financial products in no time, which can be resold to customers. Merchants can start selling airtime, and helping people pay bills.” Hassan, a college dropout, started his firm company – an on-demand mobile laundromat app – at the age of 17. He started OyaPay due to failures with point of sale (PoS) systems in Nigeria. “In 2012, the Central Bank of Nigeria (CBN) introduced the PoS as a way to drive its cashless policy. However, it turned out to be too expensive for banks to deploy, coupled with consistent bad networks which has immensely slowed down its adoption,” Hassan said. “Besides bad network and banks’ reluctance to issue multiple PoS devices to one merchant, there is the issue of security and inability of PoS devices to read most cards. It is still a pain to pay offline merchants or accept payments without the current barriers of infrastructure or lack of trust.”
Launched at the end of last year, OyaPay allows for two different types of payments: the Bluetooth-powered BluePay, and the camerapowered ScanPay.
With smartphone penetration increasing in Africa, he wanted to find a way to make and receive payments using smartphones while overcoming existing infrastructural problems. This is what he believes OyaPay has done.
BluePay uses Bluetooth Low Energy, wireless personal area network technology developed by Bluetooth that uses as few bytes as possible, to allow in-store merchants to accept multiple payments from more than one person at a time in a contactless and hands-free manner, reducing queues.
The self-funded startup, which is currently closing its seed round, is about to kick off a pilot programme within Nigerian universities, as it believes word of mouth will be a key driver to its adoption.
Meanwhile, ScanPay allows one-to-one transactions, with merchants scanning a customer’s QR code to accept payment. “Our mission as a company is to make smartphone payments as ubiquitous as cash in Africa. We strongly believe that providing yet another new payment solution for merchants does not make a big difference, and that’s why we provide added value service such as targeted marketing and financial products to them,” said OyaPay founder and chief executive officer (CEO) Abdulhamid Hassan.
“We are also in talks with a major bank in Nigeria that is looking to deploy our solution for transit purposes,” Hassan said. “We are kicking off operations in Nigeria. Hopefully, as we make significant progress we plan to expand our service to Kenya and Ghana.” OyaPay makes money by charging merchants a small percentage fee on each transaction, as well as fees on disbursements. Hassan said it also charges merchants to promote targeted offers to consumers.
Need for Speed WHY AFRICAN BANKS MUST WORK WITH FINTECH STARTUPS By Ndileka Swakamisa
Banks can gain agility and speed in bringing innovations to market
The need for African banks to innovate at a quicker pace and access new customer segments is behind the increasing number of financial institutions partnering with or investing in fintech startups. It was reported last month on how we are unlikely to see vast numbers of banks acquiring fintech startups, but there is evidently a trend towards African banks signing deals with startups in order to access their expertise. Part of the reason for this is that startups are capable of doing things banks cannot, like innovating at a fast pace. “Banks can gain agility and speed in bringing innovations to market,” said Peach Payments co-founder Rahul Jain, whose company took part in a Barclays accelerator in Cape Town and signed a proof of concept deal with the bank. This was a view shared by Stuart van der Veen, disruption lead in the Corporate and Investment Banking team at Nedbank, which has invested in Entersekt and works with startups like Aerobotics.
“Fintechs are developing and applying technology at speed and in a manner that conservative and risk-averse banks traditionally aren’t good at,” van der Veen said. “They are rapidly creating new client value propositions, with less friction, and are able to deliver this at scale. Furthermore, successful fintechs are hyper-focused.” The benefits of partnering with startups to bank go beyond just the ability to innovate at speed, however. Keith Jones, co-founder of the Sw7 incubator, says fintechs are challenging they way business is being done. “They are informed, small and build interesting business models. They offer insights to the banks where the markets are heading and how the new technologies are going to be leveraged. If they partner they offer banks access to products and services that can differentiate the banks and improve efficiencies and customer service,” he said.
George Wakaria, vice president of cash management at Citibank in Kenya, agrees, saying consumers have begun to place more importance on seamless digital experiences, forcing financial institutions to rethink their traditional delivery methods. “Through partnerships fintechs offer financial institutions ways to reach and acquire unbanked and underbanked segments of the population through the creation of profitable and useful services for lower market segment clients,” Wakaria said. Working with startups can also serve to change the way a corporate business thinks, which will bring further benefits down the line. “They will start to understand how startups operate – how quickly, the agility, the ability to work round obstacles, and most importantly the undiluted customer focus,” said Paul Mitchell, fintech and blockchain lead at PwC South Africa. “After a while, this starts to rub off, and the corporate realises that it needs to be more flexible, get closer to the customer, push decision making down the business, and so on.”
African agri-tech ecosystem grows 110% in last two years By Zanele Mthethwa The African agri-tech space is booming, with the number of startups operating in the market growing 110 per cent over the past two years, and over US$19 million invested into the sector in that period. The Agrinnovating for Africa: Exploring the African Agri-Tech Startup Ecosystem Report 2018, records 82 agri-tech startups in operation across Africa by the start of 2018, with 52 per cent of these ventures launched in the past two years.
The research shows that while Kenya was the early pioneer of the African agri-tech sector, accelerating interest in West Africa over the past two years means this region now dominates the market; and is home to two of the top three agri-tech ecosystems on the continent.
The report tracks annual startup activity in the agri-tech space as early as 2010, but finds this activity remained limited until the end of 2015.
Currently, Kenya and Nigeria tie in first place as the top two agri-tech markets on the continent; while Ghana places third. Together, these three countries account for over 60 per cent of agri-tech startups active in Africa. Over the course of this period, over US$19 million has been invested into African agri-tech startups; with annual fundraising figures growing rapidly.Â
The current boom began in 2016, and over the following two years 43 new ventures launched across Africa.
The amount of funding raised in 2017 grew by over 121 per cent on the total for 2016. “The scope for innovation in the agricultural sphere is vast – a refreshed take on the sector could unlock huge value for the whole of Africa. That’s why this report is so exciting – it shines a light on the extent to which the continent’s entrepreneurs are already disrupting the agricultural industry. Behind the scenes, there has been formidable acceleration in the agri-tech market recently, and it is one of the most interesting spaces to watch in Africa today,” said Gabriella Mulligan, co-founder of Disrupt Africa. “Everyone knows how important the agricultural sector is across Africa, but until very recently it remained relatively untouched by tech innovators. That is suddenly changing as entrepreneurs and investors realise the scale of the challenges facing farmers, and spot opportunities to reach huge addressable markets.
"Everyone knows how important the agricultural sector is across Africa" Our latest report tells you all you need to know if you want to get involved in this still very nascent space,” said Tom Jackson, Disrupt Africa co-founder. Startups are particularly involved in applying ecommerce to the agriculture industry, with this type of agri-focused e-commerce platform accounting for 32.9 per cent of startups. Information and knowledge sharing platforms are also popular; while a substantial number of entrepreneurs are focused on delivering fintech solutions for farmers. A total of six sub-sectors are examined in the report.
SA’S UTHINI ROLLING OUT P2P LANGUAGELEARNING PLATFORM By Lerato Kekana For busy professionals needing to
Uthini has already begun
Uthini came about after co-
learn and speak a local language,
providing an isiZulu language
founders Miguel Da Costa and
the options are limited. Enter
programme to third and fourth
Thomas Wrigley asked
South African ed-tech startup
year medical school students at
themselves how they could make
Uthini.
the Johannesburg-based
a meaningful impact on South
University of the Witwatersrand.
Africa. “We had long desired to
Formed in 2016, Uthini is a
build and implement ideas and
person-to-person (P2P) language
This began at the end of
solutions which meaningfully and
learning-platform that connects
February, and will last for eight
sustainably improve the lives of
first language speakers with
months.
others,” said Da Costa.
Approximately 550 students are
“Our focus is on indigenous South
currently taking part in the
African languages, which are
The learning process is supported
programme, taught by over 65
spoken by the majority of the
by chatbot technology, which the
isiZulu home language tutors –
population, but which have been
first language speaker uses as a
the majority of which are
marginalised and its speakers
tool to provide convenient, byte-
university students. Uthini is also
economically disadvantaged, with
size and personalised language
offering subscription-based
English reigning as the dominant
learning to students.
isiXhosa and isiZulu basics to the
language in the commercial and
general public.
other spheres.”
students, using a structured learning path.
03
Uthini – which is a Zulu and Xhosa word meaning “what are you saying?” – is helping connect and reconcile South Africans to one another while also enabling mother-tongue indigenous language speakers to earn money and benefit economically from their language knowledge, something that has not generally been possible in any other setting. “Language is a socio-cognitive process and effective language learning therefore requires meaningful social interaction. At present, language learning options either involve lots of human interaction or little to no human interaction,” Da Costa said. “Specialist language learning classes are expensive in terms of both time and money, generally over only a few weeks, but effective in terms of levels of human interaction and improving proficiency. However, the time and monetary expense of these options make them inaccessible for most and do not include regular practice opportunities, raising the likelihood of the user forgetting significant portions of what has been learnt.” Video-chat based tutoring platforms like Verbling are slightly cheaper and more convenient, he said, but lack the structure of courses and still require large chunks of time, high bandwidth internet connection and mid-to-high-end hardware, while apps offer little to no human interaction or opportunity to actually use the language. “Very little investment in the platform by users and vice versa also leads to very high dropout rates. Some platforms like Livemocha tried to include greater levels of interactivity, but operated more like a forum than a meaningful conversation and had little control over the quality of feedback,” said Da Costa. Uthini, however, provides the convenience and accessibility of apps, and the structure and high levels of individualised interpersonal interaction of courses, but can maintain control over the quality of the course content, monitor the quality of feedback provided, and widen the pool of available facilitators.
Da Costa said this makes high-quality, effective language learning far more accessible and more affordable than ever before. In South Africa, he does not think there is much competition. “In terms of local language competitors, there is no high-touch – think GetSmarter – mobile or online based competitor for local languages such as isiXhosa or isiZulu. The current offerings comprise of traditional language schools, self-study, or studying through high school or university,” he said. “Some apps have popped up but all of them are purely software-based and do not incorporate any human element.” “Going from MVP to a mass scale pilot of more than 600 users was a significant challenge, but we were able to learn a significant amount from it. That being said, we’ve been fortunate to be a part of the Injini incubator and have had some great mentors who have supported us all along the way and helped offset these difficulties,” he said. “We currently operate in South Africa but are looking to expand to Kenya with Swahili.”
NAKED INSURANCE LAUNCHES IN SOUTH AFRICA
BY THINA BHENGU Insurtech startup Naked Insurance has launched to market in South Africa, offering an artificial intelligence (AI) powered car insurance solution.
Naked Insurance has now launched its car insurance solution in South Africa, promising to give consumers control of their insurance and save them money.
In October last year, Naked Insurance raised ZAR20 million (US$1.66 million) in funding from Hollard, South Africa’s largest privately-owned insurance group, and private investment firm Yellowwoods. The startup secured the funding before launching any product to market.
Potential customers can request a quote, and if it’s accepted, receive cover in three minutes on the Naked website or app; while existing customers can also change their cover instantly at any time. The use of AI-based algorithms allows the startup to bring down the cost of insurance, by removing the need for inefficient business processes such as call centres.
INSURANCE
The fraud algorithms permit certain claims to be approved instantly, reducing inconvenience and lowering the cost of premiums. In addition, Naked has created the “CoverPause” feature – giving customers the ability to pause their accident cover if their car won’t be used for a day or more – reducing the premium for that time. “Having been involved in insurance from the inside, we knew we needed to build Naked from scratch, avoiding legacy systems and thinking. We are proud to kick off a new generation of insurance that offers unprecedented user-control, value for money and customer fairness at its core – all the while making a positive change to society,” says Alex Thomson, co-
At the end of each year, money left over in the claims pool goes to charities nominated by customers rather than towards company profits, meaning Naked’s income doesn’t depend on whether claims are paid or not. “We saw first-hand how insurers’ focus on underwriting profits
founder of Naked Insurance.
overshadows claims handling,
The startup is based on a different
service. We realised that to fix these
model than traditional insurance companies. It takes a fixed portion of premiums to run the business, with the balance going into a pool to cover claims.
premium fairness and customer problems we needed to change how we make money, to remove the inherent conflicts of interest,” says Thomson.
ADVICE
TOP 7 REASONS WHY YOUR SMALL BUSINESS SHOULD USE TWITTER By Cue Sibiya If you run a small business and aren't using Twitter, I have to ask, why not? It seems that just about everyone else on the planet with access to the web or a cell phone is.
Fortune 500 companies have a corporate Twitter account (Twitter Stats for Businesses). Having your business on Twitter is hot.
Twitter seems to be following the same pattern that blogs did. First a few, and just for personal use – (please!) Then a lot more and an expansion of uses. And then a belated awakening by businesses that something is happening over there and it might be worth getting in on it.
Using Twitter is evidence that your small business is participating in social media and obviously a "with-it" kind of outfit that people might be interested in doing business with.
Everyone else is doing it. The guy who runs the convenience store down the street. The landscape architect. The shoe store owner. And lots of big companies, such as Dell, HP, AT&T, and Microsoft. In fact, 74% of 2013 Inc 500 companies use Twitter and 377 of the 2013
Twitter is good optics.
It's just not enough to have a website anymore. (Learn How to Create a Social Media Plan for Your Business.) Twitter is a fast way to get the message out. Assuming your potential and existing customers are on Twitter, you can instantly let
them know your news, whether it's an announcement or a new product, a special deal, or an upcoming event they may be interested in. And now that businesses can advertise on Twitter, it's even easier to reach the potential customers you want to reach. Twitter will help you stay on top of your industry and/or market segment. Twitter lets you hear what other people are saying. Using Twitter Search, you can find out what people are saying about a particular topic, enabling you to keep your ear to the ground about your company and the competition.
Twitter will help you refine your brand. By participating in Twitter (that is, using it to communicate with others, rather than just spamming product announcements) you can present and develop the kind of image that attracts your potential customers, and refine your brand. (Remember; communication is a two-way thing.) Twitter is a great networking tool. Being on Twitter will give you opportunities to meet and talk to oodles of people, some of whom you would never get the chance to talk to otherwise. And some of those people might be the very business contacts you've been seeking, people you want to start projects with, source product from or even hire. And the most important reason your small business should use Twitter – because Twitter lets you engage your customers. Posting information about your products and/or services is the obvious use. But Twitter also gives you another channel for listening to and finding out about your customers – what they like or dislike about your company, how they feel about your brand, what suggestions they have for improvement, what their favourite products are and why... all kinds of nuggets that you can use to make your business more successful. So there you have it. In a nutshell, Twitter can provide your small business with another channel to inform and engage your current and potential customers – and every opportunity to do that is worth exploring. You will want to make sure, though, that you're using Twitter properly to promote your business, so you don't get seen as a spammer and damage your small business's reputation.
