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 blockchain start-up joins Lykke initiative
Local blockchain start-up Ekasi Bucks is the first South African organisation to join the Lykke Streams programme, a global initiative founded by Swiss blockchain company Lykke.
The programme assists teams to set up a Lykke entity in different countries and run it. It will enable Ekasi Bucks to provide financial services to township enterprises through leveraging the power of blockchain.
Q&A: Cape Town entrepreneur Lorraine Steyn laments shortage of women in tech
Software development is a well-paying career and more women should be involved in the sector, laments Cape Town entrepreneur Lorraine Steyn.
“I’m very sad about the falling number of women in software development, particularly. It is a well-paying career, requiring creative and analytical skills,” says Steyn co-founded software development company Khanyisa Real Systems (KRS) in 1987.
Fintech can unlock opportunities for SA trade amid economic slowdown
Analysts argue that the influx of innovative new fintech companies into the African market will challenge banks and erode their profit margin, writes Anton Gaylard, co-founder of the recently-launched investment fund CrossFin Technology Holdings.
Accenture estimates that over one-third of mainstream financial services’ revenue is at risk due to disruption in the industry from fintech. In a global survey by PwC, 88 per cent of banks, insurers and asset managers view fintech as a threat, with the number rising among African respondents.
Enel Green to search for energy startups in sub-Saharan Africa
The renewables arm of Italian energy major Enel SpA (BIT:ENEL) will team up with Seedstars World SA to identify power sector startups focused on rural areas within sub-Saharan Africa, it was announced on Monday.
Specifically, Enel Green Power has entered into a cooperation agreement with the Swiss-based group to establish the so-called Africa Energy Track challenge under the Seedstars World startup competition, which has been running since 2013.
Kenya. Microloans: How local start-ups are taking the battle to investors
The demand for and opportunities that exist for loan sharks in Kenya are boundless. This has seen all sorts of lenders crop up in corner shops in estates and major town centres. Their advertisements are nearly as impossible to miss as the waganga ones. Informal lenders once ruled the short-term lending sector, but in the last couple of years, the market has become skewed. Formal lenders have got involved and shifted the focus to mobile-based lending applications.
Dubai start-up Starz Play targets expansion after Hollywood investment
Major American investors are banking on the Dubai start-up Starz Play as the on-demand video streamer grabs US$125 million to expand services beyond Mena into two more continents while adding original content.
Starz Play had new investment commitments come in this year from the motion-picture heavyweight Lionsgate and the asset manager State Street Global Advisors (SSGA), bringing the total amount of investments the company has received over two years to $125 million – a sign of confidence for the direction of home entertainment in the Mena region.