Author: Staff Writer

Upgraded security, improved grid integration, and the increasing use of artificial intelligence (AI). Those are just some of the trends identified by David Minnis, Huawei Senior Solution Director of Energy Storage Systems (ESS), which are set to shape the smart photovoltaic (PV) space in the coming years. Speaking at the Solar Power Africa 2023 Conference, which took place in Cape Town, Minnis explained that while increased demand for renewable energy sources has resulted in booming growth for the global solar PV industry, Africa still faces several challenges when it comes to meeting its immense potential. According to the International Energy…

Startup accelerator and early-stage investor Startup Wise Guys has closed the first €25 million or R483 million of €45 million or R869 million that will be used across its various geographies and vertical-focused funds to support its new strategy focused on global markets that remain underserved by capital investment. With the funds, it will invest in a minimum of 200 startups from mostly across Europe and Africa in 2023/24, after making 120 investments in 2022. In 2022, the global economy faced challenges that resulted in a 35% drop in global venture investment compared to the previous year. Europe experienced a…

Axiz today kicked off its SME Connect-to-Connect programme at the Copperleaf Golf Estate in Centurion. With this programme, Axiz is providing a platform for SMEs in the ICT space to share and showcase their capabilities and experiences with leading vendors in the sector. “As the custodian of a superior technology-distribution network, we know that the value of a network increases exponentially with each new node,” says Craig Brunsden, CEO of Axiz. “By reappropriating Metcalfe’s principle for the network between SMEs and vendors, our belief is that connecting more stakeholders through our relationships and through our business and industry network, it will expand…

As impact investing gains momentum worldwide, Intellidex has launched the inaugural Africa Impact Investment Awards. The project is being conducted in partnership with the African Venture Philanthropy Alliance, ANDE West Africa, Impact Investing Ghana, Impact Investing South Africa, the national advisory boards for impacting investing of both Nigeria and Zambia, and the Southern African Venture Capital and Private Equity Association. “We’re introducing the awards to recognise organisations across Africa that are doing valuable work at the intersection of finance and social development,” says Dr Graunt Kruger, managing director of Intellidex. “If we want transformation, we need to encourage investment in transformational businesses,…

The world’s largest student accommodation platform, Student.com has increased its stake in South African tech start-up, DigsConnect. Student.com initially invested an undisclosed amount in mid 2022 and founder CEO Luke Nolan says Africa offers exciting growth avenues for Student.com. “Finding student accommodation can be a confusing and frustrating process, especially if you’re searching in another country or in another language,” says Student.com founder and CEO Luke Nolan. “We have found that DigsConnect aligns with our vision of making student properties immediately accessible in a variety of cities at the touch of a button. The relationship between the two companies has…

Naked — the South African artificial intelligence (AI)-driven insurtech company that offers a new, fully digital way for consumers to insure their cars, homes, and valuables — has announced that it has raised $17 million or R306 million in Series B Funding. International Finance Corporation (IFC) – a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets – is leading the funding round. The German Development Finance Institution (DEG), and Naked’s original investors, Yellowwoods and Hollard are also taking part in the funding round. IFC and DEG are both…

Banking group Nedbank names Daniel Mminele as chairman designate to replace Mpho Makwana. “The boards of the Companies are pleased to announce the appointment of Daniel Mminele as an independent non-executive director and chairperson-designate of the companies,” Nedbank informed investors on Wednesday. “The required regulatory approval for the appointment has been received.” Mminele’s appointment as an independent non-executive director of the companies will be effective from 1 May 2023 and the boards of the companies have resolved to elect him as Chairperson of the Companies immediately following the conclusion of the Nedbank Group AGM scheduled to be held on 2…

On-demand breakdown management and analytics platform Right Now Response (RNR) has raised R10 million  in a HAVAÍC -led round. Cape Town-headquartered HAVAÍC’s, the venture capital (VC) firm, R9.2 million investment makes up the lion’s share of the round in partnership with Capacitech. RNR is an on-demand breakdown management and analytics platform. Using technology to match supply with demand, the company provides truck fleet managers and truck OEMs (Original Equipment Manufacturers) with breakdown support via its nationwide network of vetted mechanics, electricians, and repair centres. By mobilising its closest subcontractor, RNR not only vastly improves response times but also completes 70%…

South Africa’s failing infrastructure and local service delivery has been well-documented in recent years. Failing infrastructure has an outsize impact on township and rural communities with the growing digital divide in townships fuelling inequality.  Townships were never designed to become major economic drivers, with the result that today they are characterised by high rates of unemployment and challenges with housing, education, healthcare, transport, crime, and inadequate digital access. South Africa’s digital divide is exacerbated by uneven broadband distribution. In 2021 the Department of Small Business Development – through its implementation agency, the Small Enterprise Development Agency (Seda) – put out…

South Africa’s first private equity fund which allows green energy investors to qualify for SARS-approved tax deductions was launched today. Section 12B of the Income Tax Act No. 58 of 1962 allows for a tax deduction for certain qualifying assets used for electricity generation from renewable sources. A similar tax incentive, Section 12J, was launched in 2014 and it became  the fastest growing alternative asset class in South Africa, with over R12 billion of capital raised across 200+ funds. The Section 12J tax incentive reached its sunset clause in June 2021. “Green energy has become a necessity due to SA’s…