Finfind’s News Roundup for Busy Entrepreneurs 7.7.17

Every week Finfind selects some of the newsworthy articles to help keep busy entrepreneurs up to date and informed about the latest happenings in the world of SME Finance and other SME news. Enjoy.

SA Fintech startups to watch

CB Insights has updated its Fintech 250 list, detailing the emerging fintech companies that will change the face of financial services in the coming decade.

The companies are selected by a  purely data-driven/algorithmic process that uses CB Insights data.

Read more

SA startup ThisIsMe claims “African record”

South African startup ThisIsMe claims it has set a new African record by completing a FICA process – which used to take anywhere between two days and two weeks – within three minutes.

Read more

South Africa: Blockchain startup to service R50 billion Township economy

Ekasi-bucks, a blockchain startup company based in South Africa, will be looking to make an impact on South Africa’s Townships by providing Financial systems to Township-based small businesses. These businesses operate in an economy estimated to be R50billion ($3.8billion) per annum.

Ekasi-bucks have partnered with Lykke, a global blockchain platform which brings its blockchain expertise and infrastructure, is set to redevelop the way consumers transact across Africa.

Read more

South African company giving bulk buying power to low-income communities

It is no secret that buying in bulk can lead to great savings. Suppliers want to sell as much of a product as possible to maximise profits through economies of scale – so it is common practice to offer discounts on items bought in bulk. A simple example of this can be seen with the cost of Coca-Cola in a South African supermarket. A 200ml can is priced at R8 (R4 per 100mℓ), while a 2ℓ bottle costs about R14 (R0.70 per 100mℓ). The more you buy, the cheaper the price per unit.

Read more

Tips for switching from employee to entrepreneur

You’ve been laid off, and after a period of discernment, you have decided to switch from employee to entrepreneur, but how can you make the switch successfully?

ManpowerGroup South Africa’s MD Lyndy van den Barselaar shares that successful entrepreneurship requires a focus on creativity, integrating innovation, and strategic business practices.

Read more

Namibia: Why finance wants SME Bank closed

AN ASSESSMENT on the troubled SME Bank done by the finance ministry early this year says the bank should be closed because it failed to deliver on its mandate.

The details emerged as the police have approached the courts in South Africa in a bid to force the financial institutions involved to explain where the money is.

Read more

German Venture Capital Soars as Startups Seek Room to Grow

German venture capital financing more than doubled in the first half of the year as the country’s startups grow beyond fledgling status and a successful internet IPO opens the door to further investments.

VCs invested 2.16 billion euros ($2.45 billion) across 264 equity deals in German-based startups in the first half, according to a new report by consultant EY. That compares with 972 million euros across 248 deals in the first half of last year.

Read more