Blog - Afrikan Heroes

How FaceApp CEO Yaroslav Goncharov Launched A Product Of Over 100 Million Downloads

July 26, 2019

For those who have used Facebook, Twitter, Instagram or any other social network in the past few days, there are huge chances that they might have come across their friends, family members, acquaintances and countless others who have suddenly and mysteriously become grandparents with wrinkles and greyed hair or who have simply gotten younger, grown a beard or changed their appearance in any other more or less obvious way. The magic behind this sudden alteration in looks is FaceApp, a mobile app that uses machine learning (AI) to manipulate faces on digital photographs. FaceApp has gone viral after a couple of celebrities and influencers posted impressively accurate images of their future selves on social media. But behind all the frenzy is CEO Yaroslav Goncharov who had no idea that FaceApp’s virality would be so overwhelming for him.

“We have success, but very unusual success,” says Goncharov, who owns 100% of the business.

Here Is How It Happened

As the following chart below shows, FaceApp had a moment in the limelight before, but the 2017 hype around the app was much smaller than the current craze.

According to estimates from Priori Data, the app clocked nearly 30 million downloads in July, catapulting it to the top of the app store charts on both Android and iOS.

In fact, currently, FaceApp has been downloaded (although not active users) revealed on Google Play, in excess of 100 million.

Yaroslav Goncharov Had Been Digging and Tilling At FaceApp Since 2016

Russian Goncharov’s success is a case of building momentum and mastering the art and game of his industry. He has worked on Windows Mobile for Microsoft and co-founded a company which was sold to Russia’s Google, Yandex, in a reported $38 million deal that made him wealthy.

“I worked at Microsoft in Redmond, U.S., and in the evenings I wrote [code for] a bot with whom one could play poker. The neural network was only a small, evaluative part of this bot — at the time, there were no ways to create a solution entirely based on the neural network,” Goncharov said in a 2017 interview with the Russian Afisha Daily

Upon leaving Yandex in 2013, he invested his time and resources on creating his own products. His first output is a hotel Wi-Fi testing tool that garnered some success. Goncharov, however, desired to create a product from face-generating algorithms, he starting working on FaceApp in 2016. FaceApp launched in 2017, still in what Goncharov describes as a beta version. Even in its basic form, it went viral for the first time after a “hotness” filter made people prettier.

“FaceApp was born at the junction of two important trends. The first is the ever-growing value of photos and videos. There is an opinion that stories from Snapchat, Instagram and their analogs will soon kill news feeds like Twitter. Facebook is already moving in that direction,” Goncharov told Afisha two years ago.

With millions of users in love with the app, Goncharov was quick to draft a business plan. He envisioned a reality where people would pay for an automated photo editor, so he added a paid-for subscription offer that would remove the FaceApp watermark and irritating ads, as well as add some premium features. Goncharov’s hope was that FaceApp would replace PhotoShop editors with AI.

“The second trend is neural networks. That’s what they call the simplified analog of the human brain implemented in computer code. To create it, they build a huge network of software simulations of neurons and synapses capable of analyzing and storing information. Such technologies underlie machine learning, artificial intelligence, cybernetics, and much more. I have been doing this for quite some time now. I trained the first neural network about ten years ago.”

Cashing Out Big

It has since paid off, according to the CEO.

Without providing substantiating data, he claims FaceApp has been profitable since the first launch two years ago, with “good” revenue and growth figures. “We’re very profitable,” he says.

“I could easily have got investment from Silicon Valley… but we had enough to grow organically.”

While Goncharov has no need for Silicon Valley investors for now (he says he may approach VCs in the future), others in the bubbly business of photo apps have either taken big funding rounds or been acquired.

Snapchat snapped up Looksery for a reported $150 million in 2015 and Teleport for $8 million in 2018 to help grow its library of AI-powered filters, while Oakland-based photo app VSCO raised $90 million over two rounds.

FaceApp makes money from nothing more than a paid-for subscription service. But the founder has not disclosed how much revenue that it is scooping in or how many paying customers he has. He is also secretive about user numbers.

Goncharov does, however, disclose that the paying customer base was roughly 1%. Even taking a conservative estimate of 100 million users across Android and iOS, and just 1% signing up for a single month’s premium use at $3.99, the company is making at least $4 million per annum, and potentially a lot more if it’s locking in more users. (It’s also possible to pay $20 for a year’s access or $40 for lifetime use). Goncharov declined to comment on that estimate. But it’s not bad for a 12-employee business that’s been profitable for two years, by Goncharov’s account at least.

What’s Next?

Though other companies like Snapchat already do what FaceApp does with live filters, Goncharov doesn’t want to launch something that’s anything less than “magical.” He’s hoping that magic isn’t diminished by another privacy panic.

But Yaroslav Goncharov’s biggest success (and stress) has come with a company that’s minuscule by comparison: FaceApp. Leading a staff of just 12, the geeky, excitable 40-year-old has created what’s currently the world’s hottest (and possibly most controversial) app, which uses artificial intelligence-powered filters to gender-swap or radically age selfies.

“We only upload a photo selected by a user for editing. We never transfer any other images from the phone to the cloud,” FaceApp was quick to state. “We might store an uploaded photo in the cloud. The main reason for that is performance and traffic…Most images are deleted from our servers within 48 hours from the upload date.”

Goncharov said those terms were so broad because he had planned earlier to turn FaceApp into a “social network for faces.”

“To do this kind of product, our privacy policy had to be very similar to what Instagram had. Our current privacy policy is very similar to what Instagram has … but nobody blames Instagram, because it’s Instagram,” he adds.

Besides, it’s not FaceApp that users should be worried about when it comes to privacy, but all the other apps they’re already using, Goncharov argues.

“There are so many other apps that collect much more data,” he says. “We just don’t.

The App topped the download charts for both Android and iPhone this past week after millions followed celebrities like Dwyane Wade, Drake and Iggy Azalea in doing the “FaceApp Challenge.” The “challenge” was simple: take a photo, apply the aging filter and post an image on Instagram, Twitter, wherever, of the older you.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Startups In South Africa Which Crowdfund Will Now Be Listed On Stock Exchanges

July 25, 2019

Indeed, this could be ground-breaking. No more waiting for years and centuries for startup IPOs to happen. With this new deal, once startups raise funds through equity crowdfunding in South Africa, the startups’ shares automatically become tradable on the floors of South Africa’s Stock Exchange. Money more here!

Here Is How Everything Is Going To Happen

Today, Africa’s first equity crowdfunding, Uprise.Africa, and South African alternative exchange ZAR X have come to an agreement that will see the mini stock exchange list any up-and-coming entities, which have already successfully raised capital via crowdfunding, and freely trade their shares on the open market.
Not only could the arrangement be the funding gap filler that fledgling South African entrepreneurs desperately seek, but it could bring the local capital market to the people.
The partnership also solves the fundamental flaw of all other pre-IPO models, Nel says, namely that once a company has issued the shares they remain fairly illiquid, with investors having their funds tied up until that company looks at going public.
Tabassum Qadir, co-founder, and CEO of Uprise.Africa says they plan to conclude at least three deals a month.

“We are simplifying venture capital through this mutually beneficial partnership for both entrepreneurs and investors,” says Qadir

“It means, when you have a business idea, you can leverage the Uprise.Africa platform to potentially raise capital quickly and ultimately list on a licensed stock exchange, making the shares tradable,” she says.

Etienne Nel, CEO of ZAR X, agrees that equity crowdfunding democratizes start-up financing by enabling entrepreneurs to raise additional capital, but also allows more people to invest in local businesses and in listed equity.

“Furthermore, it gives crowdfunding investors liquidity in their investments, which ultimately drives financial inclusion and job creation,’ he adds.

He says it gives this new generation of investors the same opportunities as high-net individuals and institutional investors, who can afford the investment costs of larger stock exchanges.
Not only are lower minimum investment amounts possible, but certain transaction fees and regulatory costs also don’t apply.
For example, the alternative exchange community is not subject to the Financial Services Conduct Authority (FSCA) protection levy and doesn’t charge for the custody of funds.

“It is also no secret that the ‘incumbent’ is more focused on institutional money that the interests of retail investors,” Nel says.

Equity crowdfunding is gaining much popularity across the globe, and it doesn’t look like it will slow down soon.

The World Bank, for instance, estimates that the global equity crowdfunding sector will be worth more than $93-billion by 2020.

Upraise.Africa is also putting the funding model on the map. It made headlines recently by facilitating a R34-million capital raising exercise for Intergreatme — a business that describes itself as a “platform that provides users with a secure, simple and effective way to share personal information with anyone”.

Qadir says the platform enables the trust to be built between investors and entrepreneurs and in doing so creates a supportive business ecosystem.

“And now crowdfunding investors can trade their holdings on the ZAR X platform,” she says.

“We have cracked the code. We have now derisked the proposal. We give investors the option to exit by allowing them to sell their shares at will. Usually, and in the current format, investors are tied up in an equity crowdfunding investment for between 6–8 years.

“We also aim to disrupt the country’s traditional funding landscape,” she adds, “which is rather limited and restrictive at that.”

As the IPO model certainly remains very viable for certain businesses of size wishing to launch into the public markets, it is not for everyone.

After these stock exchanges, the next biggest stock market in Africa is Mauritius, followed by Tunisia and Namibia.

Business Maverick had reported recently that it is a capital-raising method on the decline, and Nel says that they “are simply seeing more opportunities for investors and founders looking for methods that better fit their needs than what the traditional incumbents are offering”.

“The compliance costs of being listed on the bigger boards are devastating, and private money and smaller enterprises just find some of the disclosure requirements too cumbersome and restrictive,” he adds.

The Financial Sector Conduct Authority,(FSCA), (the South African market conduct regulator of financial institutions that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures) is still in the process of finalising regulations pertaining to crowdfunding, after releasing its draft proposals in mid-2017. The lack of regulation has been cited by some in the sector as the reason why equity crowdfunding has not taken off in South Africa as it has in more advanced economies.

But ZAR X and Uprise.Africa thinks their deal could be the catalyst needed to kick-start it all.

The World Bank believes the potential market for crowdfunding is significant.

It estimates in its report: Crowdfunding’s Potential for the Developing World that there are up to 344 million households in the developing world able to make small crowdfund investments in community businesses.

“These households have an income of at least $10,000 a year, and at least three months of savings or three months savings in equity holdings. Together, they have the ability to deploy up to $96-billion a year by 2025 in crowdfunding investments,’’ the report noted.

South Africa’s ZAR X Is Not As Small As You Think

ZAR X, one of South Africa’s newest stock exchanges, was granted an operational license in 2016 to operate by the Financial Services Board (FSB). ZAR X commenced operations on Monday, 5 September 2016.

Etienne Nel, ZAR X CEO, says the approval signifies a new era in tech-friendly and user-focused share trading. He said:

“ZAR X creates choice and offers corporate South Africa and the public at large a new opportunity to reduce unnecessary red tape, speed up transaction times and open up equity-based wealth creation to sectors of the South African population that for far too long have been largely excluded from full participation in the financial markets.”

ZAR X listings requirements are largely principles-based, enabling the process of a more flexible and efficient listing. ZAR X will initially offer a primary board for conventional company listings, an investment entities board that will cater for structured products and exchange-traded funds, and a ‘restricted market’ for BBBEE shares, Agri shares and other restricted securities which can only be traded within a clearly defined investor base.

Senwes and Senwesbel were the first companies to list on the Exchange commencing trading on Monday, 3 October 2016.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Private Healthcare Sector in South Africa Explore Opportunities, Networks

The private healthcare sector of South Africa met recently at the Cape Town International Conference Centre to explore ways of collaboration and networking aimed at improving services across a wider clientele base, and also to get abreast with technology and the fast-changing health landscape.

The event took place under the hospice of the Dr. Precious Matsoso (Director-General, Department of Health South Africa), Dr. Amit N. Thakker (President, Africa Healthcare Federation) and the leadership of Prof. Morgan Chetty (Chairman, IPAF), healthcare leaders convened for the launch of the Healthcare Federation of South Africa (HFSA).

L-R Prof. Khama Rogo (World Bank), Dr. Amit N. Thakker (AHF), Dr. Evelyn Rotich (CEC Health Kenya), Dr. Precious Matsoso (Dept. of Health South Africa), Ms. Zola Mtshiya (BHF), Prof. Morgan Chetty (IPAF) and Dr. Katlego Mothudi (BHF) during the launch of HFSA

“It is time to recognize the critical role the private-sector providers and other actors can and must play,” said Dr. Matsoso. “The private healthcare federation is a formalized platform of all health-care stakeholders to facilitate public-private dialogue and this must be a partnership and not a private solution to a public problem,” she said.

Dr. Amit Thakker, President of Africa Healthcare Federation and Chair of Kenyan Healthcare Federation emphasized how the unified voice has helped build trust between the government and private sector through continuous public-private dialogue at the regularly held County Stakeholder Forums (CSF), Ministerial Stakeholder Forums (MSF) and the bi-annual Presidential Round Tables (PRT).

This has helped to better map the increasing role of the private health sector as well as spur healthcare investments in the country.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

East Africa International Arbitration returns to Nairobi

The annual East Africa International Arbitration Conference returns to Nairobi this summer on the 29th & 30th August 2019 at the Radisson Blu Hotel for its 7th edition. EAIAC provides an unrivaled platform for International Arbitration practitioners, arbitration users, state counsel, academia, and in-house corporate lawyers to learn, share best practice, network and deliberate on International Arbitration as an important tool for promoting FDI in Africa.

EAIACequally provides a forum to promote, profile and celebrate Africa’s International Arbitration & Arbitrators.

Themed “Government Contracting and Investment Disputes: Lessons for States and Investors” the conference will explore the full spectrum of government contracting from procurement and PPPs (public-private partnerships), tender disputes, dispute mitigation in government contracts, investment arbitration and arbitrating with governments in African centers.

Boosted by it’s long -term development blueprint, Vision 2030, and its mid-term development plan, the Big Four Agenda, Kenya is indeed a fitting venue for the conference. The country has experienced a surge in government contracting over the recent past and only last year, the Kenyan government successfully defended two high profile investment arbitrations: an ICC arbitration relating to the power sector; and an ICSID arbitration in the mining sector.

Notably, across Kenya’s borders, various African countries have also published blueprints to be mid-level economies by the first half of this century. The momentum for investment in Africa’s investment in renewable energy, infrastructure development, agriculture, healthcare, and education continues despite global uncertainty.

These interests in African economies is further encouraged by the establishment of the African Continental Free Trade Agreement (AfCFTA) which entered into force on the 30th May 2019 with 24 out of 55 Africa states have deposited their instruments of ratification. We see some Governments making attempts to become transparent and efficient in contracting.

All these developments set out a strong case for international arbitration and its development in the continent. It is for this reason that the East Africa International Arbitration platform exists, to promote the arbitration practice, support Africa centers build relationships and their profile, create a platform for shared experience, a place where arbitration practitioners and users can meet to network and acquire new skills.

The discussion topics will be delivered by leading Africa and international experts in discussion panels, Oxford-style debates and masterclasses tackling some of the pertinent issues in Africa’s arbitration space. The keynote address will be delivered by Hon. Justice David Maraga, Chief Justice, Republic of Kenya.

The speakers will attempt to respond to questions like; How can governments and investors better contract? Disputes are expensive, even for the winner –can they be mitigated? Can damages be better assessed and recovered? Do African international arbitration centers and practitioners have a place in investment arbitration and many more.

AFRICA ARBITRATION AWARDS 2019

In addition to this year’s program, the EAIAC will celebrate achievements and success in Africa Arbitration at the Inaugural Africa Arbitration Awards 2019.

Africa Arbitration Awards aim to celebrate, recognize and honor outstanding practitioners and leaders in the Africa arbitration ecosystem and will be celebrated at the Gala Dinner on Friday 30th August 2019 at the Radisson Blu, Nairobi.

Awards Categories:

African Arbitrator of the Year
Young African Arbitrator of the Year
Leading Case Counsel Team
Innovation in Arbitration
Leading Case Service Provider

Nominations Process

Nominations are open to all International Arbitration practitioners in Africa. Self-nomination is allowed.
Nominations will be subjected to a panel of judges for review.
3 shortlisted nominees will be announced for a round of voting by the Arbitration community.
The overall winners will be announced at the Awards Gala Dinner.

Nominations are open at www.AfricaArbitrationAwards.org We invite you to celebrate an amazing person in arbitration, including your contacts, colleagues, or team by nominating them in either of the categories above.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Germany, Norway support Kofi Annan International Peacekeeping Training Centre’s (KAIPTC) maiden ‘Kofi Annan Peace and Security Forum’

On 4 – 5 September 2019, the Kofi Annan International Peacekeeping Training Centre (KAIPTC), under the distinguished patronage of H.E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana and the Chairmanship of HE Dr. Mohamed Ibn Chambas, Special Representative of the UN Secretary-General and Head of the UN Office for West Africa and Sahel (UNOWAS), will host “The Kofi Annan Peace and Security (KAPS) Forum”.

The Federal Government of Germany and the Government of Norway are providing financial support for the delivery of the forum. Billed to be an annual event, the KAPS Forum will bring together political leaders, diplomats and experts to dialogue and share ideas on the most critical evolving peace and security trends on the African continent.

The forum also seeks to deepen collaboration between KAIPTC and international organizations such as the United Nations, African Union, Regional Economic Communities, Governments, development partners, civil society organizations and the business community.

The theme for this maiden edition is ‘Peace Operations in the Context of Violent Extremism in Africa.’

Speaking at the media briefing for the KAPS Forum, H.E. Hans-Helge Sander, Deputy German Ambassador to Ghana noted that; “This Forum will provide an excellent occasion to discuss collective actions on how to strengthen a proactive international and continental effort to prevent and effectively counter violent extremism in Africa”.

The Deputy Ambassador also briefed the media on Germany’s long-standing and strong support to KAIPTC through the provision of Police and Military Advisors as well as a GIZ support mission. “Because of the already existing support the German government offers, we are delighted to support KAIPTC´s maiden edition of the “Kofi Annan Peace and Security” Forum in Accra”, he affirmed.

The Commandant of KAIPTC, AVM Evans noted that “the KAPS Forum is in memory of Kofi Annan, the former Secretary-General of the United Nations who dedicated his life to mobilizing political will to address evolving human security threats”.

Commenting on one outstanding feature of the forum, he added that “our forum will be a working forum and we will ensure that when recommendations are made, they are followed through until progress is made”.

The Forum will bring together two hundred high-level delegates including eight former African heads of state and diplomats from governmental and intergovernmental organizations (including the African Union and its Regional Economic Communities, United Nations and European Union). Security professionals and representatives from policy and research think tanks, development partners, training institutions and civil society groups have been invited and are expected to attend the forum.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

This Kenyan Startup Has Just Secured $330k In Debt Finance

Optimetriks, the Kenyan sales force automation startup has just defied odds and gone after debt finance. A whole $330,000 debt facility (loan) to grow its customer base and add new features? For a startup that was founded in 2016, this appears a life-saving option. But then, why not fund-raising?

Here Is The Deal

Debt financing came from French commercial banks.
The startup intends to use finance to grow its customer base and add new features.
Optimetriks currently serves more than 25 companies across 16 countries in Africa, with its clients operating in sectors such as beauty, telecommunications, food, and professional services. Last month, it took on EUR300,000 (US$335,000) in debt financing from commercial banks in France to fund its growth, with Langlois-Meurinne saying this will go towards product development.

Why Debt Financing?

Although debt financing is an option for fundraisers, so much remains to be said about the strong terms under which loans are given. Optimetriks does not appear to be desperately resorting to borrowing as the nearest funding alternative to remaining in business, however.

The Kenyan startup has previously received grant funding from the GSMA in 2017 and took part in the Francophone Africa-focused L’Afrique Excelle accelerator program earlier this year and has bootstrapped until now. It could also take on Series A investment soon.

“As our company has matured, and based on our existing traction, we are now considering fundraising in the coming months, to benefit from strategic investors, knowledge of East Africa, and consumer goods distribution,” said Langlois-Meurinne.

About Optimetriks

Founded in 2016, Optimetriks has developed a sales force automation platform that helps consumer goods companies and distributors digitize their workflows and operations.

“Typical use cases are route management, defining where the sales representatives need to pass, checking on visits and productivity, providing guidance and background information on the retailers they engage with, outlet management, checking on stock levels, and things like that,” said Paul Langlois-Meurinne, the startup’s co-founder and chief executive officer (CEO).

Optimetriks, which makes money from license and service fees, was launched in a bid to solve key problems in African distribution.

“First, the lack of reliable market information and the costs and limitations that exist when trying to collect and analyse data at a large scale,” Langlois-Meurinne said.

“Second, the fact that there are information asymmetries and sometimes misaligned interests between the actors of the ecosystem. Finally, the fact that middlemen take unnecessary margins at the expense of retailers, and distort the value chain.”

The Optimetriks platform aims to bring more transparency and visibility to the distribution space, and help companies better understand how their resources are being employed.

“We help our clients implement scientific distribution that is data-driven, where every action is logged in the system, and can be tracked. Our clients access our platform either through the mobile app for the field users, or the web app, for office users who need to navigate in the reporting dashboards and configure the deployment.,” said Langlois-Meurinne.

“Our ambition is to be the reference platform that connects directly and on a daily basis consumer goods brands with the millions of African retailers that distribute their products on several key dimensions.”

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Call for Entries: APO Group African Women in Media Award to Recognise Support of Female Journalists for Women’s Entrepreneurship in Africa

A USD 2,500 cash prize, an all-expenses-paid trip to a prestigious International Women’s Forum, and online courses from one of the most respected international universities.

APO Group, the leading media relations consultancy, and press release distribution service in Africa and the Middle East presents the inaugural APO Group African Women in Media Award set to recognize, celebrate and empower African women journalists who support female entrepreneurship in Africa.

The Award will be bestowed to the winner at the 5th Africa Women Innovation and Entrepreneurship Forum’s (AWIEF) Conference, Exhibition and Awards hosted at the Cape Town International Convention Centre (CTICC), 29-30 October 2019, with the theme‘Enhancing impact: digitalization, investment, and intra-African trade’.

AWIEF’s prestigious annual event is a platform that sees global thought leaders, industry experts, policymakers, academics, development organizations, and investors gather to dialogue, connect, network, share, collaborate and transact in a combined effort to boost Africa’s entrepreneurship ecosystem for women.

Lionel Reina, CEO of APO Group said, “We are extremely excited for the opportunity to highlight the work of female journalists sharing the stories of women entrepreneurs in Africa. The APO Group African Women in Media Award is part of our commitment to supporting the development of journalism on the continent. We are delighted to present this award with AWIEF in Cape Town as we celebrate women in journalism and entrepreneurship.”

Entries for APO Group African Women in Media Award must offer valuable insights into African female entrepreneurs while appealing to a global audience.

The award is open to African woman journalists and bloggers, whether directly employed or freelancers, working in the continent of Africa who have produced a story that has been broadcast or published in English, French, Portuguese or Arabic in the form of a printed publication, a television feature, a radio story, a website or a blog whose primary audience is based in Africa.

Stories must have been broadcast or published between 1st January and 15th September 2019.

Stories are judged on content, writing, analysis, creativity, human interest, and community impact.

All stories must be submitted in electronic format:

– Print: upload the scan(s) of the published article;
– Radio: upload the SoundCloud link;
– Website: upload the URL; and/or
– TV: upload the YouTube link.

TV material must first be uploaded to YouTube (www.YouTube.com) and radio material to SoundCloud(SoundCloud.com). If one is not a member of these sites, one will need to sign up in order to upload the video or radio material. Once one has obtained the link, one must enter it in this online entry form when inputting one’s story details.

The online entry form is available here: http://bit.ly/APOaward

The deadline for entries is 15th September 2019. The finalists will be announced on 1st October 2019 while the winner will be announced on Wednesday, 30 October 2019.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

These Are Companies That Can Lend Money to Small businesses in South Africa

South Africa has over 2.5 million small and medium-sized enterprises (SMEs) in South Africa but not many of them have access to funding. A business idea without funding is as good as nothing. Access to funding in South Africa has however been made easier because of a growing alternative lending sector that is focused on providing funding for this market.

Below is a list of the different types of alternative financing available to South African SMEs

Fundrr

Fundrr uses technological innovation and automated algorithms to provide quick and efficient loans to small businesses. By the use of a simple, free and paperless application process, they are able to take the hassle away and allow you to focus more on your business. Fundrr allows small businesses to get an answer the same day and access to capital in 24 hours.
They serve businesses with at least a 12-month track record, with a minimum of R1 million turnover or asset value.
Applying is free of charge and there is no commitment or obligations to take the funds.
They provide loans from R20 000 to R500 000 ranging in duration from 3 to 12 months and repayments are made either on a daily, weekly, bi-monthly or monthly basis, depending on your cash flow.

Merchant Capital

Retail businesses interested in loans can contact Merchant Capital for their offers. The loan merchant offers cash on flexible repayment terms.

Who may obtain their offer?

Retail business owners who have been in business for more than one year and who have an average of over R30,000 in credit and debit card sales may obtain their loan.

We understand that you are the one who built this business. So we respect the fact that no one understands its ‘ins and outs’ quite the way you do. With this in mind, we don’t prescribe what you use your funds for. That said, having funded millions of Rands to thousands of South African businesses, we know a thing or two. So we highly recommend that the cash injection be used for business growth opportunities, the company noted on its website

The maximum amount of loan:

Retail business owners may obtain as much as 100% of the business’ average monthly credit and debit card turnover.

It’s a good idea to have this amount handy to better understand what you can expect. Then, as soon as we have analyzed your statements, you will be contacted with a more accurate qualification amount, the company stated.

iKhoka

You can use iKhoka’s card machines for as many times as you desire. However, using it for more than three months will qualify you for a custom cash advance offer.

Who May Obtain Loan From iKhoka?

The iKhoka application works on a reward system.

The iKhokha Cash Advance definitely helps take your business to the next level. Here’s how you can qualify for a custom Cash Advance offer:

Be an active iKhokha merchant
Must have traded for the past 3 months consecutively
Must trade at least 3 times a month
Must complete a minimum of 10 card transactions a month
Must have completed a card transaction in the last 15 days
Your turnover should be at least R2 500 per month
Your average monthly turnover for the last 3 months must be higher than R3 125

Check your offer in the iKhokha app and decide how much of it you need. The more you process through iKhokha, the bigger the amount you qualify for!

Maximum Amount of Loan:

The amount you get from iKhoka depends on the turnover of your business over a period of three months.

Zande Africa

Zande Africa can order favorite brands in bulk from manufacturers at a lower cost.
The goods are delivered to one of its warehouses around South Africa.
Spaza shops owners order their stock through its driver/ sales agents.
Delivery is made within 24 hours to a Spaza Shops’ doorstep.

With Zande Africa, you can access funds to finance your trade and spaza shops.

Who May Obtain The Fund:

The target of the fund includes those who are looking to procure goods and stock for their spaza shops. In simple terms, Spaza credit supports businesses that are looking to procure inventory for their shops. Businesses desiring to go through this means can start by applying.

Maximum Amount:

Zande Africa provides finance depending on the turnover of the spaza.

Bright on Capital

Bright On Capital is an online peer-to-peer enterprise-lending platform, that serves as an online market place and allows SMEs to simply and quickly raise working capital funding from a wide range of traditional and non-traditional lenders.
These lenders include developmental funding institutions (“DFIs”), pension funds, corporate enterprise development funds, and other institutional investors.

Who May Obtain Funding From It?

Bright on Capital targets small businesses that have been trading for at least 12 months. These businesses must be supplying one or more corporates or credit-worthy public entities. They must also be expected to generate at least R1 million in annual revenues.

Basic criteria for your business to become a Bright On Capital client include

The person applying on behalf of the business needs to be a director, member or partner of the business.
The business needs to be a South African registered company, closed corporation or partnership.
The business must have an annual turnover of no less than R1 million and no more than R50 million.

When you apply online with Bright On Capital, all you need is to

Complete the simple and easy application form, and submit the following documents on the website or via email or fax:
Your business’ registration documents.
Your business’ 6-month bank statement.
Your business’ tax clearance certificate.
Your business’ BEE certificate (For a business with a turnover of less than R10 million that doesn’t currently have a BEE certificate, you can complete an Affidavit and have it stamped signed by a Commissioner of Oaths. Once the Affidavit has been stamped and signed by a Commissioner of Oaths, it serves as a BEE certificate. Please click here to download the Affidavit.)
Your business’ latest audited financial statements and its most recent management accounts (optional for businesses generating less than R5 million revenue per annum).
Your business’ proof of business address.
ID copies for each director, member or partner; and
Proof of residential address for each director, member or partner.

Maximum Amount That May Be Obtained:

Currently, your business can raise up to R400,000 of working capital funding through Bright On Capital. For small businesses, they may access working capital facilities of up to R1 million to enable them to execute on procurement opportunities sourced from these qualifying large entities and corporates.

ProfitShare Partners

What ProfitShare Does

ProfitShare Partners provides disruptive short-term capital solutions and transactional support to SMEs with valid contracts or purchase orders from reputable large organizations.

Who May Obtain Funding From It?

The fund targets SMEs with no track record, financial history or security with low performance, short-term contracts (up to 365 days) or purchasers with reputable large organizations.

Maximum Amount:

Small businesses may obtain loan from ProfitShare Partners from a minimum of R250,000 up to R5 million per transaction.

Fincheck

Who They Are:

What Fincheck basically does is that it partners with South African banks, lenders and insurers to offer a live and independent means of comparing and applying for finance across 30 lenders.

Who May Obtain Loan Under It?

Generally, all business owners seeking finance in South Africa may apply for funding from the credit firm.

Fincheck Business compares business finance options for you. As the business owner — you simply need to complete the application form, which includes what you are looking for. From there, we have an algorithm that will work through your answers and match it to partner criteria* Based on these results, our engine will present you with business finance and partners that could best suit your needs. This whole process only takes a couple of minutes.

*Please note these results are not suggestions or advice from Fincheck Business or the FINCHECK group but are results based on your needs and partner criteria.

However, you may need to provide collateral.

Maximum Amount of Loan Obtainable:

R20,000 — R72 million

Lulalend

Lulelend has a strong history of lending to small businesses. The firm delivers business funding using proprietary scoring technology, which offers an instant funding decision on applications.

Who May Obtain From Luleland?

All South African businesses, no matter the industry or sector involved in trading for more than one year with annual revenue of R500,000+ can obtain funding from Luleland.

Amount: N/A

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

These Former Prison Warden And Guard Have Just Launched South Africa ’s Latest Ride-Hailing Startup

No option but to give the glory to them. 700 drivers. R2.3 in personal funding, former South African prison warden and former South African former security guard warden have teamed up to launch Taxi Live Africa — South Africa’s latest in a long string of e-hailing apps — and claim to have invested R2.3-million of their own money in the startup so far. The Durban and Cape Town-based company is South Africa’s latest in a number of the ride-hailing company, following the launch earlier this year of “Sushi King” Kenny Kunene’s Yookoo Ride and Ridver, launched by Opynio Media and Technology, a black woman-owned company (see this story and this one).

Here Are The Details

Former prison warden Luvuyo Ntshayi and Soyiso Qotyiwe, a former security guard turned taxi driver, last month launched the app to residents in Durban.
Ntshayi said the company — which he says he’s spent two years researching and developing — has signed up over 700 drivers in Durban and more than 100 in Cape Town, where the company aims to expand to next (see also this story by our sister site Memeburn).

Luvuyo Ntshayi, former prison warden and Soyiso Qotyiwe, a former security guard, claim they have invested R2.3m in Taxi Live Africa

The ride-hailing startup has initially focused on meter taxi drivers — to help them to compete against e-hailing sector, which was why the company kicked off operations in Durban, where Ntshayi says he received strong demand from local meter taxi drivers for the offering.
But he says this doesn’t mean the app is only for meter taxi drivers. Private drivers from the e-hailing sector are also welcome to use the app.
The company charges drivers a commission of 13%, a rate which Ntshayi says is both fair to drivers and sustainable for his business.
Ntshayi estimates that he and Qotyiwe have together invested R2.3-million in developing the company and the app. He says the amount includes the cost of traveling to Asia where he claims he visited several companies to research the idea of an e-hailing app further. He declined to name the countries and companies he visited.
The company, he says, presently has 14 employees — eight in a Durban office and six in Cape Town. It also has an outside developer team of four.

Life After Prison

Ntshayi says in 2008 he joined the correctional services department as a prison warden. In 2012 he completed an HR Diploma before a year’s stint in 2014 as an HR officer at South Africa ‘s Department of Rural Development and Land Reform.
He left his life as a public servant after he secured a R50 000 grant in 2015 from the National Youth Development Agency (NYDA) to set up a detergent manufacturing business in Blue Downs, Cape Town.
However, he says despite help from a mentor, the business never got off the ground. He puts this down to his lack of experience in manufacturing.
Ntshayi — who says he’s had calls from those in neighbouring countries to offer his app’s service there — says however that he’s not focusing on competing with the likes of Uber and Bolt which together dominate the ride-hailing sector.
But he points out that his business’s focus on customer care, including the use of a call centre and a live online chat facility, will help it to gain acceptance in the market.
“We’re not really wanting to be better than anyone from the word goes — we just want to learn,” Ntshayi says.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Dazzl appoint APO Group CEO Lionel Reina to company board

July 24, 2019

Dazzl, innovators in live multi-camera video solutions, today announced the appointment of APO Group CEO Lionel Reina to their company board. It is a move that highlights Dazzl’s ambitions as they look to accelerate their growth and exposure internationally.

Since they burst onto the scene in 2016 Dazzl have disrupted the world of live broadcasting, using social media to make a high-quality, real-time video available to all.

The company’s immersive technology enables multi-viewpoint content from mobiles, drones and other live sources, creating interactive user experiences that can be published live on diverse social media channels. For the first time, live broadcast-quality content can now be produced from any internet-enabled location using just a smartphone.

As the company enters the next phase of its development, Reina brings a wealth of experience to his role as an advisor. His unique expertise covers the worlds of technology, business, and media relations at an international level – making him the perfect candidate to help bring Dazzl to new audiences in developing markets.

Reina’s current role has seen him work with leading broadcasters and digital publications – not just in Africa and the Middle East, but all over the world – and he brings a fresh, media-savvy perspective as Dazzl looks to accelerate growth and move to the next level.

Previously, Reina was a CEO Middle East and Africa at Orange Business Services (OBS), the B2B division of French telecoms company Orange. He has also worked as Middle East Director in the Gulf region for Accenture.

Reina has extensive experience working on the boards of diverse organizations all over the world. He is the former Vice President of the French Chamber of Commerce in Dubai, sitting on the board from 2009-2012. During the same period, he was Founder and President of the French Executive Club of Dubai (“Le Club”).

“Lionel’s appointment reflects the value we place on his experience and knowledge,” said Thierry Scozzesi, co-founder and CEO of Dazzl.“Uniquely, he bridges that crucial gap between technology and media. Lionel operates right at the heart of the international communications community, and we are thrilled that he will be able to help us as we look to bring our services to new audiences all over the world.”

“What Dazzl are doing in the fields of social media and broadcasting is incredibly exciting,” Lionel Reina commented. “They are a young technology company providing new digital solutions that will revolutionize the way people consume information. As CEO of APO Group, I am in the privileged position of being able to help companies like Dazzl gain exposure. I believe they are exactly the type of organization that can complement our own portfolio in the years to come.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.