Cape Town Stock Exchange closes US$5m funding round led by Imvelo Ventures

SOUTH AFRICA – The Cape Town Stock Exchange (CTSE), the city’s fintech stock exchange, has closed out an R85 million (US$5 million) funding round. The oversubscribed round was led by a new investor to the group, Imvelo Ventures, a venture capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners, It also saw a participation from Lebashe Investment…

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Software solutions provider FinAccess secures US$500k from Havaic to drive financial inclusion 

KENYA – Cape Town-based venture capital firm Havaic has invested US$500,000 investment in FinAccess, an East African software solutions provider that digitalises community banks and farming co-operatives in the region.   It aims to drive financial inclusion and unlock financial services for many unbanked East Africans through its technology platform and widespread distribution.  Allocated from the VC firm’s US$20-million Havaic…

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Parking software management solution Parket launches in Cape Town, South Africa

SOUTH AFRICA – Parket, a smart parking software management solution, has launched operations in Cape Town’s central business district with plans to expand nationally and internationally later in the year. Founded by Joshua Raphael, Parket delivers an intuitive software management platform that interfaces seamlessly with IoT-driven access technology and an app to allow corporate landlords to allocate parking bays without…

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Vivo Mobile launches first standalone service centre at Cape Town in its expansion plan

SOUTH AFRICA – Vivo Mobile, the Chinese smartphone brand, has officially opened its first standalone service centre at Cape Town’s Canal Walk Shopping Centre as part of its regional expansion plan. The new location joins a global network of nearly 2 000 Vivo customer and authorised service centres, so far. GM of Vivo South Africa, Tony Shi says that the…

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Payments company Yoco acquires Cape Town-based fintech Nona Digital

SOUTH AFRICA – Yoco, a payments company, has acquired Cape Town-based fintech and Web3 software development agency Nona Digital to accelerate its roadmap by bringing a team of highly-specialised fintech product and technology professionals into the Yoco team. Yoco, which secured US$83 million in Series C funding last July, builds tools and services to help small businesses accept card payments…

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Qatar Airways increases African routes, Cape Town, Durban, Maputo to join in February

SOUTHERN AFRICA – Qatar Airways, in line with its steady rebuild of its Africa network, has rolled out plans to increase flight frequencies to Cape Town to five weekly flights from February 1 and Durban increasing to three weekly flights from February 14. The state-owned flag carrier of Qatar will also increase flights to Maputo to three weekly flights from…

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Private equity manager AIIM appoints new directors as CEO retires

AFRICA – African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments, has appointed two joint-managing directors to be based in Cape Town and Lagos, following the retirement of the CEO Jurie Swart. Vuyo Ntoi and Sola Lawson, have been appointed from within the business, and will continue to sit in their South Africa and Nigeria offices respectively,…

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Amazon opens first African AWS Region in Cape Town, South Africa

SOUTH AFRICA – Amazon Web Services (AWS), a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs, has announced the launch of its African regional hub in Cape Town, South Africa.   AWS Africa Region will offer low latency digital services and a broad range of technologies to players in various sectors, mainly government organizations.  Peter DeSantis, vice…

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Kaap Agri invests US$8.62m in plastics subsidiary to bolster its manufacturing capabilities

SOUTH AFRICA – Kaap Agri, a group trading in agricultural, fuel and related retail markets, has made its first major investment of more than R150million (US$8.62m) to further bolster its manufacturing capabilities. The investment entails the establishment of Tego Plastics, a new subsidiary of the Kaap Agri Group, based in Brackenfell, Cape Town, which will be making large format, injection-moulded…

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GoDaddy acquires South African social media content startup Over

SOUTH AFRICA – Over, a startup that developed an app that allows businesses to easily create content for social media, has been acquired by American publicly traded internet domain registrar and web hosting company GoDaddy for an undisclosed amount. Launched in Cape Town in 2012, Over began life as a simple “text over photos” app for sharing goals and inspirational…

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