Technology South Africa's startup CEOs and developers are Africa's best paid
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.
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 receivingfrom tech investors. But while these countries jointly receive hundreds of millions of dollars annually, there are some significant disparities in compensation packages.
Misty starts shipping its programmable robot to backers
When we met with Misty back at CES, the Sphero spin-off had an April time frame for its programmable robot, Misty II. But the best laid plans, and all that. The startup announced this morning that it will start shipping the robot to its 500 or so crowdfunding backers over the coming weeks. It’s a few months late, but that’s just kind of the life of the robotics startup. And as we’ve mentioned in previous posts, the company’s got a pretty long runway for its ambitious plans. They started last year with the modular, handmade Misty I. The Misty II is still more platform than product, with the intention of giving developers a place to create various robotics tasks.
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.
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, 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. 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 .
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.
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 engineersto moving abroad given better career prospects.
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 toin South African tech businesses over the next three years.
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Xenophobic violence in South Africa: "at least 10 dead", including a foreigner
Thexenophobic violence continues in . "At least 10 people", including a foreigner, were killed, announced Thursday, September 5, the South African President . The past few days have been marked by looting and "unjustifiable" attacks on the president.
"We know that at least 10 people were killed in this violence, one of them is foreign," said the head of state in a radio and television intervention to the nation.
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"Families have been traumatized, lives have been destroyed," he added. "There can be no excuse for xenophobia ... there is no justification for looting and destruction.""The time of calm has come"
"The violence has greatly decreased (...) .The time of calm has come," said the president, adding that 423 people had been arrested in the Johannesburg area, epicenter xenophobic attacks.
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"It is time for all of us who live in this country to face our challenges directly and honestly, not by resorting to violence, but by dialogue." he estimated.
South Africa, the continent's leading industrial power, isviolence, fueled by high unemployment (29%) and poverty.
This week's attacks have angered several countries on the continent, where people have attacked South African interests.
South Africa beats England 32-12, wins 3rd World Cup title .
Siya Kolisi grabbed the Webb Ellis Cup with his big hands, gave it a kiss and hoisted it high as fireworks exploded and his teammates — black and white — rejoiced behind him. A blowout victory in the Rugby World Cup final for the Springboks.Yet another transcendent moment for post-apartheid South Africa.Led by its first black captain in the Springboks' 128-year rugby history, South Africa's multi-racial squad swept to a record-tying third World Cup title by overpowering England in a 32-12 victory on Saturday."We have so many problems in our country," the 28-year-old Kolisi said.
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