Indian firms to open operations in Rwanda, transfer tech to local start-ups

  Databases of some 230 young Indian technologies engaged in more than 26 value chains are ready for acquisition by Rwandan entrepreneurs and business start-ups, officials have revealed. An Indian technology-led business delegation, India-Rwanda Innovation Growth Programme (IRIGP), has announced that up to 500 Indian firms will be interlinked with local start-ups as they set…

Prodigy Finance set to grow Cape Town presence after R3.19 billion fintech funding round

  Prodigy Finance, an international fintech platform that has developed the world’s first borderless credit model, today announces a R3.19 billion fundraise. This includes a R532 million Series C equity round led by venture capital firm Index Ventures, with participation from Balderton Capital and AlphaCode; and a R2.66 billion debt facility led by a global…

BIS- Black Industrialists Scheme

The Department of Trade and Industry (DTI) has launched an incentive scheme called the Black Industrialist Scheme (BIS). The objective of the scheme is to unlock potential of black industrialists within the SA economy through financial interventions. The key focus areas of the programme will be on the following productive sectors: Blue/ocean economy, including vessel…

IDC funding has created 18 206 new jobs

  IDC chief executive Geoffrey Qhena said yesterday that supporting the creation of black industrialist remained a strategic imperative for the corporation. Qhena said approvals for the programme increased 68percent in the year March to R4.7billion in 83 transactions while youth-empowered and youth-owned businesses increased 137percent to R2.3bn in 52 transactions from R970million in 19…