Emergency response platform RapidDeploy raises equity funding from Nedbank CIB

SOUTH AFRICA – South African emergency response platform RapidDeploy has raised equity funding from Nedbank CIB, the corporate and investment banking division of the Nedbank Group, one of the four largest banking groups in South Africa. Founded by Steven Raucher and Brett Meyerowitz, RapidDeploy is an open and integrated response platform, transforming first responder communications centres of any size into…

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SolarWorld Africa partners manufacturer of solar cells Meyer Burger Technology

SOUTH AFRICA – SolarWorld Africa, an importer and distributor of solar products, has partnered with European manufacturer of solar cells and modules Meyer Burger Technology, to bring renewable energy solutions to Southern Africa. Switzerland-headquartered Meyer Burger is primarily known for its production facilities in the photovoltaic industry. The company develops and produces systems with which solar cells can be manufactured…

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Internet service provider TooMuchWifi secures US$585k investment from BLOC SA

SOUTH AFRICA – The BLOC Smart Africa fund (BLOC SA), initiated by the Smart Africa Alliance and managed by Bamboo Capital Partners, has announced an investment of US$585,000 in TooMuchWifi, a South African internet service provider. BLOC SA led the US$1 million pre-series A round, catalysing additional capital from Connectivity Capital, Atreyu Investments and a European Family Office together with…

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Mobile payments provider SnapScan acquires payroll startup Radar

SOUTH AFRICA – South African HR and payroll startup Radar has been acquired by mobile payments provider SnapScan as founders Kobus Ehlers and Gerrit Greeff exit their second startup to their first one. The acquisition will see the Radar founders exit the business, while the rest of the team will join Firepay. There will be no immediate changes for existing…

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Eskom Pension Fund launches debt fund designed for South African Small Medium Enterprises

SOUTH AFRICA – The Eskom Pension and Provident Fund (EPPF) has launched the South African SME Debt Fund, a debt fund designed for South African Small Medium Enterprises (SMEs). The fund will be managed by Sanlam Investments, following its appointment as the external fund manager. EPPF committed R350m to the investment pool, while Sanlam made a co-investment of R50m. The debt…

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Vodacom Group appoints Sitho Mdlalose as Managing Director for its South African business

SOUTH AFRICA – Vodacom Group, a mobile communications company, has announced the appointment of Sitho Mdlalose as Managing Director (MD) of Vodacom South Africa, effective 01 July 2022. Sitho is currently the Managing Director of Vodacom Tanzania, a position he has held since August 2021. He returns to Vodacom South Africa to assume the role held by Balesh Sharma, who…

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AIIM becomes the largest single shareholder in MetroFibre after acquiring additional 25.8% interest

SOUTH AFRICA – African Infrastructure Investment Managers (AIIM) has completed a follow-on acquisition in MetroFibre Networx, following approval from the Independent Communications Authority of South Africa. AIIM, alongside a consortium comprising South African Housing & Infrastructure Fund (SAHIF) and STOA, a foreign investment vehicle based in France, has acquired an additional 25.8% interest in MetroFibre, previously held by Sanlam Private…

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Standard Bank appoints Nonkululeko Nyembezi-Heita as the bank’s Chairman

SOUTH AFRICA – Standard Bank Group (SBG) has named Nonkululeko Merina Cheryl Nyembezi-Heita as the bank’s first Black female chairman-designate for SBG and Standard Bank of South Africa (SBSA), effective June 1. Nyembezi–Heita will replace Thulani Gcabashe, who is slated to retire later this month. Nyembezi–Heita, born in Pietermaritzburg, South Africa, holds a bachelor’s degree in electrical engineering from the…

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Isuzu Motors South Africa appoints Penelope Jabulile Mkhwanazi as Senior Vice President

SOUTH AFRICA – Isuzu Motors South Africa has appointed Penelope (Penny) Jabulile Mkhwanazi as the Senior Vice President for Revenue Generation Rest of Africa and International Markets. In her new role, Penny is responsible for all revenue generation in the Rest of Africa markets, including Sales and Aftersales. Penny joins Isuzu from Isanti where she held the role of Chief…

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Computing company inq. Acquires Syrex, expanding its coverage to South African market

SOUTH AFRICA – inq., a leading Edge computing company, has announced that it has reached an agreement to acquire Syrex for an undisclosed amount. With a presence in 9 countries, this strategic acquisition will see inq., part of Convergence Partners, expand its coverage to the South African market to ultimately facilitate and operate its African divisions, and integrate Edge Computing…

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