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Tech firms spring up in fertile Covid conditions

SA's economy may have been ravaged by the pandemic and years of sluggish growth, but small to medium-sized start-ups are still springing up, especially in the technology and fintech sectors. South African venture capital group Empowerment Capital Investment Partners - founded in 2015 by Anton Baumann and Mark Fitzjohn - said its investment companies Andzani Ventures, Imvelo Ventures and Thuthuka Nathi Ventures approved and placed R162m into 13 local start-ups between July 2019 and this month, with a further R32.5m "approved for placement in the coming weeks" in three new companies.

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FINTECH STARTUPS - APPLY FOR UP TO R1 MILLION INVESTMENT

Local venture capital company Imvelo Ventures has opened funding applications to innovative fintech entrepreneurs looking to scale their businesses. Up to ten successful applicants will receive a share of R1 million funding, business strategy and strategic marketing mentoring, access to extensive business networks, and strong B-BBEE credentials.

Xago Exchange

Xago receives substantial investment to empower money movement across Africa

Xago, an innovative South African Fintech that focuses on an all-inclusive approach to moving money rapidly, has confirmed receipt of a substantial investment from Imvelo Ventures, a venture capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners, and will continue to expand its cryptocurrency services and products into African markets for both businesses and individual clients.

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Empowerment Capital back Acumen Software to create their My Smart City Citizen Platform

Acumen Software has just concluded R 14 million Series A investments with Andzani Ventures and Imvelo Ventures, which are backed by Sappi Southern Africa and Capitec Bank, respectively to raise growth capital for its purposes of implementing its My Smart City citizen platform, with the support of Empowerment Capital Investment Partners My Smart City is a citizen platform that provides the public with an environment to engage all of the service providers in the city; this includes, Municipal Services, Emergency Services, Private Services, and Entertainment Services in The City.

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Groundbreaking partnership to empower future data scientists

The University of the Western Cape (UWC) has received one of its greatest gifts to celebrate its 60th anniversary – a multi-million rand partnership with Imvelo Ventures to empower a new generation of leaders who will transform the business world. Imvelo Ventures – a venture capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners – will invest approximately R11-million over three years to the university’s data science programmes.

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MoneyWorks raises R5mil from Imvelo Ventures.

Imvelo Ventures a Venture Capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners (www.empowerment.capital) has invested into MoneyWorks, a fintech start-up, to ensure a much-needed solution to the meagre financing currently available in the market to SMEs. The MoneyWorks solution has become even more important as SMEs and large businesses alike start their recovery from the economic shutdown caused by the covid -19 pandemic.

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BUILD SOUTH AFRICA THROUGH MEANINGFUL ENTERPRISE AND SUPPLIER DEVELOPMENT (ESD)

Enterprise and Supplier Development is arguably the most important element on the B-BBEE scorecard. The DTI recognised this by suggesting a higher emphasis on this element in the amended BEE Codes. Over 40 points of the BEE Scorecard are allocated to this element and it...

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How to globalize your company

Many business owners dream of taking their business globally. While that seems a distant reality for some, the internet, social media and online communities have reduced thousands of kilometres to mere megabytes of data.

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THE SME GROWTH PARADOX

After more than 20 years of democracy, we can argue that we have made little, if any, inroads into addressing unemployment and our economy is still largely reliant on the influx of financial capital to supplement our trade account deficits and very soon may face the ills of our past with what many seem imminent of a sovereign rating downgrade.

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Valuing your business

Objectively valuing your business is an arduous task for any entrepreneur. Whereas valuators see a functioning business, you see a brainchild that had you awake for sleepless nights years-on-end to get to this point.

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PORTFOLIOS OF THE POOR

This blog has been inspired by a book written by Daryl Collins titled with the same heading. In this book, the author’s opening line is that public awareness of global inequality has been heightened over the years. The question, any caring and thinking person should ask, if...

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