Technology: South Africa's startup CEOs and developers are Africa's best paid - Xenophobic violence in South Africa: "at least 10 dead", including a foreigner - PressFrom - US
  •   
  •   
  •   

Technology South Africa's startup CEOs and developers are Africa's best paid

21:01  21 october  2019
21:01  21 october  2019 Source:   qz.com

Tastemakers raises $1.4M to sell Africa experiences to the world

Tastemakers raises $1.4M to sell Africa experiences to the world New York based startup Tastemakers has raised a $1.4 million seed-round—led by Precursor Ventures—for its business that connects Africa adventures to global consumers. Tastemakers' platform curates, prices, and lists African travel and cultural experiences—from paragliding tours to wine-tasting to concerts. The startup generates revenues by taking a 20% commission on each transaction. Community managers in Africa screen and select experiences that go up on the site .

It pays more to be a startup CEO in South Africa than anywhere else, according to a survey of startup compensation packages focused on nearly 50 startups in Kenya, South Africa, Nigeria and Ghana. The survey was carried out by Timon Capital, early-stage investor in sub-Saharan Africa and think tank Briter Bridges.

a group of people wearing costumes© Provided by Atlantic Media, Inc.

Nigeria, South Africa and Kenya are often regarded as Africa’s most advanced markets for tech startups and ecosystems. It’s a view that’s validated annually with startups in the three countries typically receiving largest amounts of funding from tech investors. But while these countries jointly receive hundreds of millions of dollars annually, there are some significant disparities in compensation packages.

Xenophobic attacks: South Africa closes embassies in Nigeria, fearing reprisal attacks

Xenophobic attacks: South Africa closes embassies in Nigeria, fearing reprisal attacks South Africa has temporarily closed its diplomatic missions in Lagos and Abuja, Nigeria, fearing reprisal attacks against its citizens, following a spate of anti-foreigner attacks in the country, an official told CNN.

On average, startup employees across all levels earn far more in South Africa than anywhere else. For instance, chief executives of startups in South Africa earn more than five times their counterparts in Ghana and Nigeria, and more than double those in Kenya.

a screenshot of a cell phone© Provided by Atlantic Media, Inc.

Among software engineers, South Africa also ranks highest for pay packages. In contrast, despite being Africa’s largest economy and being home to the continent’s most valuable start-up ecosystem, Nigeria is the least lucrative for software engineers among countries surveyed.

One often cited argument among industry insiders is that Kenya and South Africa, while being home to smaller economies and populations, have larger actual markets in terms of potential customers with disposable income compared to Nigeria where nearly half of the country lives in extreme poverty. On paper, Nigeria’s vast population makes for an interesting funding pitch deck but, in reality, the addressable market is much smaller as e-commerce pioneers have increasingly realized.

SA apologises to Nigeria over xenophobic attacks

SA apologises to Nigeria over xenophobic attacks An envoy expresses the country's "sincerest apologies" following a wave of violence targeting foreigners.

The smaller pay packages on offer for Nigerian software engineers has also fueled a growing brain drain over the past year: with local startups unable to match higher salary packages elsewhere, local engineers have increasingly resorted to moving abroad given better career prospects.

a screenshot of a cell phone© Provided by Atlantic Media, Inc.

Being highly paid is not the only advantage South African startup executives enjoy though. With the country home to a more mature financial market and overall investment culture, South Africa-based startups are likely also closer to capital than their counterparts elsewhere. In one significant example, Africa’s most valuable company, the Cape Town-based Naspers has committed to investing over $300 million in South African tech businesses over the next three years.

Sign up to the Quartz Africa Weekly Brief here for news and analysis on African business, tech and innovation in your inbox

Ethiopia, Kenya, South Africa top mobile spam texts -Truecaller .
Ethiopia, South Africa and Kenya all rank in the top three for countries where users receive the most spam texts across the world.And it’s not just Ethiopia as South Africa and Kenya also rank in the top three for countries where users receive the most spam texts across the world, data from Truecaller, the Stockholm-based caller identification app, shows. In total, African countries make up nine of the top 20 ranked countries for spam texts received. The rankings are based on data on spam texts received by users between Jan. 1, 2019 and Oct. 30, 2019.

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!