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Interview With WayMaker Capital Venture Founder, Sanville Moses

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Sanville Moses is the founder and COO of Waymaker Venture Capital, one of the few firms based in the Eastern Cape, South Africa. The company invest in start-ups and businesses already operating as well as tech companies that will be successful tomorrow by purchase equity or finance. They also have an eye on the global markets with a scalable business model to expand. In this interview with  Alaba Ayinuola  of Business Africa Online Sanville talked about why he went into venture capital, approach to investing in startups, what makes some startups special, what startups to watch out for when approaching venture capital. Excerpt.

Alaba: Kindly tell us about Waymaker Venture Capital and the gap it’s filling?

 Sanville: Waymaker Venture Capital is a Capital Raising Machine that connect startups and businesses with quality investors. This range from seed and expansion capital, expansion, IT, Innovation, telecommunication,  manufacturing, mining, LBO, merger and acquisition (M&A) and Capital Growth.

 

Alaba: How did you get into Venture Capital?

Sanville: I use to work for Private Equity firm, where I was the Portfolio Manager. I manage and build the company brand and clientele. I built the business from zero profit to 3.5million profit in 6 months.

 

Alaba: What are your approach to investing in startups?

Sanville: We build Investment Accelerator platform for startup tech companies. They go through 8 week engagement program online. And we support them with finding them suitable investors.

 

Alaba: What makes some startups special? Are there startups you won’t invest in?

Sanville: I think what make most start-up special is the Intellectual Property (IP) of the company. The start-ups we won’t invest in are start-ups without a plan and if the business is not sound.

 

Alaba: Have you ever fallen in love with a startup or idea that you considered leaving venture capital and working on it?

Sanville: No, I never fell in love with start-ups ideas. However I am always excited to know that new innovation that is happening in the industry.

 

Alaba: What are the key things startups should focus on when approaching a venture capital?

Sanville: Understanding the approach and do as much homework on the firms achievements.  Look at the creditability of the firm. Build a relationship with key person at the firm to establish trust. Find the capacity of what they can manage and link your goals with it. Seek advice and be open for correction from venture capital (VC) platform.

 

Alaba: Do you think founders get too pressured from investors?

Sanville: No, investors set deadlines and expect those deadlines to be met. If those deadline are not met they engage with you to understand your challenges. The pressure will only come if you can’t pay back when you agreed to pay back the money or shares as promise.

 

Alaba: Can you share you good and bad experiences in your journey as a VC?

Sanville: The recently bad experience were when a client didn’t want to continue with the process after I secure an investor for 29 million. The good experience were when the same client came back to me and decided to continue with the process. Always be vigilant about your approach and be 100% sure that you have back up plan.

 

Alaba: What are the challenges and how are you overcoming them?

Sanville: My challenge are most clients have there skepticism about our approach and the module we use they have to engage with us. We have to build a lot of creditability with people.

 

Alaba: What inspires you? How do you feel as an African VC?

Sanville: My inspiration come from my will to achieve the next height in my career, seeking the next pinnacle in life to make an impact. To be a VC in the Africa continent is great achieve especially with our module we running. We placing our clients right in front of the investor. I own 100% of VC with no investors or partners in the business.

 

Alaba: What’s your advice for prospecting startups and African government?

Sanville: Intellectual Property ownership is very important. Protect your IP and invest into your product or service to show that you believe in the brand and create working prototype or a 3D model of it.

As to the African Government, building sustainable grant system that is not bias in the process against one person or group. I would love to see that resources of the African continent shared with start-up entrepreneurs. We have all what we need in Africa or even South Africa. We have brilliant concepts, make use of our entrepreneur and let us create more millionaires in Africa and South Africa as a whole. This platform should not just be for the selected few but for all who live in the country.

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His Profile:

Sanville Moses is high networking individual with the ability to facilitate and manage people. He is efficient, effective and focused driven to achieve his goals. Finding the best way to do something smart and faster, bringing clarity, having an open approach and a distance from emotions, identifying what is missing and what needs to be done is his main focus. Mr. Moses has a wealth of knowledge and experience and yet open to learning new things to further his career. Great management skills, Great Connector for Investment, Conflict management, leadership, and Administration. He holds a qualification in Small Business Development, International Trade, Mediation, Business Management from leading Institutions such as GIBS, UCT and USB. He brings a global perspective to organizations and companies.

 

Visit: Waymaker Venture Capital

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Sahara Group Canvasses More Investment In Africa’s E&P Business

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Paris France: June 25, 2019 – Oil and Gas businesses in Africa need to intensify exploration efforts to guarantee reserve replacement and enhanced capacity to meet growing demand and global competition, Olajumoke Ajayi, Managing Director, Asharami Energy (A Sahara Group Upstream Company), has told participants at the Oil and Gas Council’s Africa Assembly in Paris.

Ajayi noted that Africa’s large volumes of undiscovered oil and gas makes the continent a veritable frontier for investment, adding that operators need to adopt new technology, explore alternative cost saving measures, ensure sustainable community relations, and build diverse multidisciplinary teams to ensure successful exploration projects.

In her presentation, “Renewing Players Commitment to Exploration and the Importance of Community Engagement in Capital Intensive Projects”, Ajayi cited the downturn in global oil prices and the corresponding negative effect on investor funds and returns as factors that have made a good number of Exploration and Production (E&P) companies in Africa cut down on investments, delay Final Investment Decision (FID) or totally stop embarking on new capital projects.

“Consequently, producing companies continue to pump oil from operated mature fields thereby depleting existing reserves with non-corresponding efforts for reserve replacement via new exploration discoveries. The big question remains whether or not E&P players should commit to exploration and how players can justify this commitment in the face of lower oil prices,” she stated.

According to Ajayi, the compelling case for the relevance of hydrocarbons in the future, in addition to huge investments on new technology, responsible and intentional community engagement will play a significant role in creating a stable and conducive environment for exploration and production. “Sahara Group’s exploration success story is being driven by a combination of technology, innovation and community management expertise. At Sahara, we are intentionally committed to creating a sustainable balance between our projects and host communities to ensure the creation of shared value for all stakeholders.”

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Going by the PwC Oil and Gas Review 2018, proven oil reserves in Africa have stayed at the same level of 7.5% of global reserves. The report also notes that exploration activity continued to decline in 2017. “The consequences of modest recovery in exploration spending and a continued decline in new discoveries are unavoidable and imminent. The International Energy Agency and various players in the oil industry have warned of demand exceeding supply as oil demand continues to grow and investment in projects is deferred,” the report stated. The report adds that Africa’s oil and gas consumption is predicted to increase by 45%, increasing its global share 5.1% by 2050.

Ajayi said strategic community engagements eliminate community interference in operations of capital projects that may lead to significant downtime; ensure that the host community understands its role as a project stakeholder and treats projects as commonwealth source for the people; reduce security breach as community representatives serves as infrastructure surveillance outfit; and promoting easy negotiations for Freedom To Operate (FTO) and Global Memorandum of Understanding (GMOU).

– Sahara Group

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Moustafa Madbouli witnesses signing of agreement with Mercedes-Benz on car assembly

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Mercedes-Benz A-class cars are displayed in a dealership of German car manufacturer Daimler in Paris, July 30, 2013. REUTERS/Christian Hartmann

STUTTGART, Germany – 24 June 2019: Prime Minister Moustafa Madbouli on Monday witnessed the signing of a cooperation agreement between the Egyptian government and German automaker Mercedes-Benz to boost bilateral cooperation in auto industry.

The deal is meant to establish an engineering hub for Mercedes-Benz in the Suez Canal area for assembling and manufacturing of automobiles, the premier said.

This comes as part of the state’s strategy to support the intelligent transportation system and electricity-powered means of public transport, the premier added.

He noted that the agreement represents a quantum leap in Egypt’s auto industry, asserting that Mercedes-Benz hub will not just serve Egypt, bu also the whole region.

Madbouli is currently on a visit to Germany to take part in the 22nd session of the Arab-German economic forum. He is accompanied by a high-level delegation grouping the ministers of international cooperation, electricity, petroleum, communications, trade and industry in addition to a number of businessmen.

– Egypt Today

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Taxify, now Bolt, launches Bolt for Business in SA

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Bolt Image: Techcentral

DURBAN –  Bolt has launched Bolt for Business, allowing companies of all sizes to manage and pay for corporate trips via a single, easy-to-use portal.

This addition to the Bolt range of services broadens the positive impact of on-demand transport for businesses, as companies can now democratise access to jobs by removing the ‘own transport required’ condition for employment, and have access to a simple service offering for employees and clients alike.

They can do this by allocating a monthly budget through the Bolt platform to individual employees, ensuring that all employees who travel for business enjoy the benefits of affordable and reliable personal transport without the often prohibitive costs associated with vehicle ownership.

“We have launched Bolt for Business after noticing that a growing number of Bolt trips are taken for business purposes during working hours, whether it’s commuting to work, rushing to client meetings or getting to the airport,” said Gareth Taylor, country manager for Bolt South Africa.

He added, “In a country with unreliable public transport and high costs of car ownership, Bolt for Business offers a convenient and cost-efficient solution to business travel. It also provides an alternative transport option for the many young people entering the workplace who cannot yet afford their own vehicle, or who actively choose to not buy a car”.

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In addition, Bolt for Business is the perfect solution for entrepreneurs and SMEs, where time is money and hours spent in traffic can be put to better use if someone else – like a driver on the Bolt platform – is driving.

Bolt for Business gives companies the ability to offer employee groups, clients and recruits the option to utilise the Bolt service at the company’s expense, and gives account managers the ability to set and customise spending allowances and the number of trips employees can take.

The digitised travel management solution, available on desktop and mobile, saves businesses time and money by storing all the information about their employees’ corporate Bolt trips on a single dashboard. Paying for trips is quick and easy: instead of reimbursing each individual employee, companies can pay Bolt once a month via a bank transfer.

“Bolt for Business is so much more than an efficient expenses management tool – it removes workplace discrimination based on access to vehicle ownership and offers a strategic use of time spent on the road, demonstrating again the positive impact that on-demand transportation  services can have on the South African economy,” added Taylor.

Additional functionalities such as adding restrictions to specific times and locations for taking trips, as well as a prepaid payment method, will be added to Bolt for Business later this year.

Bolt for Business is available in more than 30 markets across Europe and Africa.

BUSINESS REPORT ONLINE

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