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Stellenbosch Network Opens Programme to upskill local entrepreneurs –

The Stellenbosch Network Entrepreneurial Mentorship Programme, an initiative aimed at supporting and upskilling budding entrepreneurs, applications open.

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The Stellenbosch Network Entrepreneurial Mentorship Programme, an initiative aimed at supporting and upskilling budding entrepreneurs, has officially opened for applications.

Applications close on 1 March 2021

Conducted over eight months, the programme aims to equip selected participants with the skills and knowledge to grow their business and improve their management skills with mentorship provided by experienced business moguls.

The Stellenbosch Network Entrepreneurial Mentorship Programme

The programme is flexible and aims to fit the busy schedule of entrepreneurs and business owners allowing selected participants to organise their sessions with mentors.

Selected participants of the programme will receive two-hours of mentee training and will be briefed on how to prepare and make the most of the mentee and mentorship relationship.

Over the course of the programme, mentees who have been paired with a mentor will receive at least 12 hours of mentorship support.

Hanli Brink, Operations Manager at Stellenbosch Network comments on the importance of one-on-one mentorship for budding entrepreneurs.

“Feedback received from our previous initiatives indicates that entrepreneurs who frequently engage with a mentor develop better decision-making skills. They also tend to feel more inspired to tackle the various challenges associated with starting one’s own business and the feelings of isolation, which many people feel when pursuing entrepreneurship, are reduced.”

Applications for the programme can be found here and must be submitted to [email protected]. Applications close on 1 March 2021.

Requirements

Interested applicants must adhere to the following requirements to qualify for the programme:

  • Be a full-time owner of a business that has been operating for at least 12 months, not employing more than 15 people, and with a maximum annual turnover of R1.5-million.
  • Not be in the employment of another company while running their current business and have no previous management education at tertiary level.
  • Be a South African citizen aged 23 years or older, with a Grade 12 school-leaving certificate (although applications may be looked at on a case-by-case basis if applicants have not completed Matric/Grade 12).
  • Be proficient in English and live or work in the Stellenbosch or Franschhoek area. They must also be willing and available to receive at least 12 hours of mentoring support for the duration of the Programme.
  • Be able to travel to training sessions at Stellenbosch University, Stellenbosch. (Please note that accommodation is not provided.)

Read more: Applications for SA Accelerator for black women tech founders opens
Read more: Google launches second News Initiative Innovation Challenge

Featured image: Mario Gogh via Unsplash

Source: https://ventureburn.com/2021/02/stellenbosch-network-opens-programme-to-upskill-local-entrepreneurs/

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Algebra Ventures launches $90-million fund to invest in startups –

Algebra Ventures has announced the launch of its second fund worth $90-million. The fund is dedicated to investing in startups in Egypt and the MEA region.

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Cairo-based venture capital firm Algebra Ventures has announced the launch of its second fund worth $90-million. The fund is dedicated to investing in startups in Egypt and the MEA region.

The VC is reportedly targeting its first closing in the third quarter of 2021 and the fund is focused on investing in the following sectors; fintech, logistics, healthtech, and agritech.

Algebra Ventures has launched a second fund worth $90-million

Karim Hussein, Managing Partner at Algebra Ventures explains that there is untapped potential in the tech startup space in Egypt and that the VC aims to support its growth with the new fund.

“Having built a couple of successful technology companies in the US, I see tremendous opportunities for tech transformation in the Egyptian economy and continue to meet exceptional entrepreneurs who address these challenges. I am also encouraged by the significant steps taken by the government to facilitate the growth of tech-enabled businesses in Egypt.”

Algebra Ventures

Founded in 2016, Algebra Ventures is focused on investing in entrepreneurs and startups in the tech space that are driving transformation in Egypt and the MEA region.

According to the Egypt-based VC, it has invested in 21 startups since its launch and its portfolio of Series A investments is the largest in the country. As a result of its investments, Algebra Ventures claims that it has, directly and indirectly, assisted in creating over 20 000 jobs.

Tarek Assaad, Managing Partner at Algebra Ventures comments on the rapid growth in the tech space in Egypt.

“I am grateful for the LPs of fund I, specifically EAEF, EBRD, and IFC who supported us back when there was no venture capital to speak of in Egypt. Over the ten years, I have worked in venture capital, I have witnessed the evolution of the tech entrepreneurship ecosystem in Egypt which has grown steadily over that period and exponentially in the past three years – vastly exceeding our expectations. Growth rates, capital deployed, sophistication of investors, track record of entrepreneurs are all pointing to unparalleled growth moving forward.”

Read more: SA asset manager secures funding towards Renewable Energy and Infrastructure Fund
Read more: Uganda fintech secures $3.6-million in funding

Featured image: Tarek Assaad, Managing Partner at Algebra Ventures (Supplied).

Source: https://ventureburn.com/2021/04/algebra-ventures-launches-90-million-fund-to-invest-in-startups/

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Takealot has a new SA competitor Everyshop

Everyshop, a new eCommerce platform has launched in South Africa and is a direct competitor to popular eCommerce site Takealot.

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Everyshop, a new eCommerce platform has launched in South Africa and offers consumers online access to a range of local and international brands.

Everyshop has officially launched

Established by the JD Group, a South African retail company that is

part of Pepkor Holdings Limited, EveryShop aims to be a one-stop online shop for local consumers.

Peter Griffiths – Chief Executive Officer at the JD Group comments on the launch of the new platform and provides insight into its mechanics.

“JD Group, a division of Pepkor Holdings, already offers extensive online shopping to South African consumers through its retail brands that include Incredible Connection, HiFi Corp, Bradlows, Rochester, and Sleepmasters. Immense know-how, e-commerce, and logistics capabilities, and infrastructure have been built up to provide world-class online shopping experiences with swift and efficient delivery options. The opportunity to also offer South African online shoppers access to a vast array of other product categories resulted in launching this new exciting online retailer – Everyshop. With the support of our existing retail businesses, we have partnered with some of South Africa’s most well-known and loved brands across a number of industries including Specialist Electronics & Appliances, Furniture, Fashion, Footwear, and DIY to deliver true value to the South African shopper. Everyshop’s customers will be spoilt for choice in a convenient and affordable manner with access to the products that they need and the brands they love.”

Everyshop

With an initial testing phase in March, the platform has officially launched this month and is a result of the growing eCommerce sector in South Africa.

The eCommerce platform offers a range of products from fashion, homeware to DIY materials, tech, and more. Everyshop’s is home to a range of international branded products and is accessible to anyone across the country as it overs nationwide delivery of its goods.

Various secure online payment methods have been added to the eCommerce platform that is mobile-first and easy to navigate.

In an official press statement, Everyshop points out that it aims to shake up the existing eCommerce sector in South Africa with its innovative tech and business model.

“With everything in one place and supported by some of the latest e-Commerce innovations whilst underpinned by a nationwide logistics infrastructure, Everyshop is a guided digital-first experience providing every shopper a unique and tailored departmental shopping experience – intent on being a true disruptor in the e-Commerce landscape.”

Currently, the eCommerce startup claims to have 15 large-scale distribution centres that are located in close proximity to customers nationwide offering fast and affordable delivery to consumers.

The local tech startup plans to add more merchandisers and expand its list of more available retailer products listed on the platform.

Supporting local SMEs and entrepreneurs

While the new eCommerce platform may be home to renowned international brands such as Nike, Samsung, Apple, and more, Everyshop is committed to supporting homegrown brands such as Me&B, The T-shirt Bed company, and Move Pretty to name a few.

With a focus on empowering entrepreneurs and supporting local, the eCommerce website has interwoven both an international and local offering of products.

“We are proud to be part of Pepkor Holdings with its many trusted brands and combined we are a diversified retailer of clothing, footwear, furniture, household appliances, and consumer electronic goods. Now, even more, is offered with Everyshop – our brand new online platform,” concludes Griffiths

Read more: SA tech startup aims to promote emotional intelligence among students Read more: SA digital bank secures three-million customers

Featured image: Everyshop (Supplied)

Source: https://ventureburn.com/2021/04/takealot-has-a-new-sa-competitor-everyshop/

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Quarterly Employment statistics reveal over 500 000 jobs lost in 2020 –

Stats SA’s Quarterly Employment report has revealed that half a million individuals lost their job in the period between December 2019 to December 2020,

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Statistics South Africa’s Quarterly Employment report has revealed that half a million individuals lost their job in the period between December 2019 to December 2020, indicating the devastating impacts of Covid-19 on the local economy and the employment landscape.

Employment has decreased by half a million in one year

In the official press statement, Stats SA provides insight into the number of jobs lost in the reported period.

Key findings

“Total employment decreased by 594 000 or (-5,8%) year-on-year between December 2019 and December 2020.”

According to the report, full-time employment decreased by 11 000 from September 2020 to December 2020 and can be attributed to decreases in the construction, manufacturing, business services, transport, and mining sectors.

Although there was a decrease in full-time employment, part-time positions saw an overall increase of 9.2% with 87 000 additional jobs reported between September 2020 to December 2020 with the following industries experiencing an uptake of employment; manufacturing, trade, business services, and community service.

In comparison to the dismal findings of the number of jobs lost between December 2019 to December 2020, the report however indicated that from September 2020 to December 2020, total employment has increased by 76 000 due to trade, community services, and business services.

Wages

Stats SA has reported total earnings have decreased by R36,1-billion between December 2019 to December 2020 but there has been an uptake within the last four months of 2020.

“Year-on-year, total gross earnings decreased by R36,1 billion or (-4,6%) between December 2019 and December 2020. Basic salary/wages paid to employees increased by R18,6 billion or (3,0%) from R631,8 billion in September 2020 to R650,4 billion in December 2020,” says Stats SA.

The basic salary and wages reportedly decreased by R22.9-billion between December 2019 and December 2020.

“Year-on-year, basic salary/wages decreased by R22,9 billion or (-3,4%) between December 2019 and December 2020.”

The detailed report can be found here.

Read more: Stats SA reports Cape Town as metro with lowest unemployment rate
Read more: Local tech startup AURA expands globally

Featured image: Emil Kalibradov via Unsplash

Source: https://ventureburn.com/2021/04/quarterly-employment-statistics-reveal-over-500-000-jobs-lost-in-2020/

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