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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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ACP Business Summit: Improve the Business Environment to Drive Industrialisation in African, Caribbean and Pacific Countries – Elumelu

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L – R: Tony O. Elumelu, CON, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and UBA Group; H.E. Uhuru Kenyatta, President of Kenya; at the 9th ACP Business Summit in Kenya on December 8, 2019, as Elumelu Presents the Keynote Speech.

Nairobi, Kenya, December 9, 2019: Tony O. Elumelu, CON, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and United Bank for Africa Group, urged African, Caribbean and Pacific (ACP) Heads of State to improve the business environment in their countries to drive industrialisation and wealth creation in ACP member states.

He said this while presenting the keynote speech on the theme “Industrialization and Private Sector Engagement for Economic Transformation of ACP States” at the Presidential Dialogue of the 9th ACP Business Summit in Nairobi, Kenya.

Elumelu stated that industrialisation will not be achieved without support for small and medium scale enterprises (SMEs) and improved access to electricity. “We cannot hope to industrialise if we do not fix the issue of power, if our entrepreneurs spend so much of their resources to power their businesses, how then are they expected to make the investments necessary to upgrade and industrialise? If we do not tackle these pertinent issues, we will be unable to achieve industrialisation, wealth creation and poverty reduction,” he said.

He highlighted infrastructure development as another critical area needed to achieve sustainable development, highlighting the key role the United Bank for Africa Group plays in achieving this. “UBA is a force for development in Africa through infrastructure investment and leading the way in cross border payments and services, with the objective of encouraging trade across the continent,” he said.

While citing the impact of the flagship Entrepreneurship Programme of the Tony Elumelu Foundation, Elumelu highlighted the critical role partnership between the private and public sectors, as well as developmental organisations, play in achieving industrialisation. The Tony Elumelu Foundation, a private-sector-led philanthropy,  is on a mission to catalyse the economic transformation of the continent by empowering young African entrepreneurs – over 7,500 beneficiaries across 54 African countries thus far – through its Entrepreneurship Programme. Elumelu shared stories of beneficiaries in Kenya including Dr. Peter Gichuhi Mwethera, who has developed a contraceptive gel, Uniprin, which aims to prevent HIV infection, and Maureen Amakabane whose company, ‘Usafi Sanitation’, is bridging the sanitation gap in schools by providing waterless toilets.

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He said: “To date, we have 497 beneficiaries in Kenya, 596 in Uganda, 187 in Tanzania and 194 in Rwanda. This brings the total number of TEF Entrepreneurs in East Africa so far to 1,474, so far. Organisations such as the UNDP, African Development Bank, the ICRC, and GIZ have helped increase the number of young entrepreneurs we can support “.

The President of Kenya, H.E. Uhuru Kenyatta shared the same approach to development, while highlighting his country’s private-sector-focused plan which has propelled the country’s ease of doing business rank from 129th position out of 190 economies in 2013 to the 56th position in 2019. 

President Kenyatta said: “Our young people are tech-savvy and indeed with a huge entrepreneurial spirit. They are ready to embrace the digital revolution. We are experiencing a flourishing digital innovation ecosystem which can stimulate the rate of growth of ICT and technology innovations, and nurture vibrant tech startups and incubator hubs as Tony [Elumelu] has mentioned, of those young men and women he has supported through his family and Foundation”.

In closing, Elumelu stressed the importance of including women in the development agenda of the ACP region, commending the European Investment Bank (EIB), for its initiative “She Invest”, which is focused on mobilising 1 billion Euros for women across Africa. “We at the Tony Elumelu Foundation strive to reach the same goals of uplifting women out of poverty and empowering them with knowledge and resources. This is an invitation to join forces as we have done with the UNDP to lift 100,000 young African boys and girls out of poverty, thereby stemming migration challenges,” he said. 

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Cars45 Expands to Ghana and Kenya

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Pan-African automotive platform launches consumer-to-consumer marketplace to match sellers and buyers

Lagos, Nigeria – 10 December 2019 – Cars45, Nigeria’s leading automotive trading platform, has launched into Ghana (www.cars45.com.gh)  and Kenya (www.cars45.co.ke). Cars45 is aiming to become the primary platform for all car transactions in the $45 billion African used car market and expansion into these strategic markets marks an important step on that journey.

In an African market where 9 million used cars are traded annually, trust is often a rare commodity as buyers and sellers navigate opaque pricing and quality assurance structures. Using its technology-enabled platform, consumers in Ghana and Kenya can now sell their cars directly through Cars45 and get paid in 45 minutes. Sellers have access to standardised pricing and a transparent marketplace, with 100 percent visibility into price offers, and buyers get access to the largest selection of verified cars. Cars45 will also provide vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing and other ancillary services that consumers will need in their automotive lifecycle.

With retail locations already opened in Nairobi and Accra, Cars45 plans to increase its footprint in Ghana and Kenya even further by opening more centres in Mombasa, Takoradi and other cities. Cars45 also aims to expand into additional African markets in 2020.

In addition to its launch into these markets, Cars45 is also launching a consumer-to-consumer marketplace that directly matches sellers and buyers across all markets it operates in. In an African automotive market where trust is not traditionally high, consumers will be able to connect in a seamless and secure way, using Cars45 as a marker of professionalism and excellence.

All cars listed in the Cars45 marketplace have been through a thorough vetting process (200 point inspection, due diligence and background check) and will carry the trusted Cars45 inspection report. Cars45 will also conduct multi-level screening to ensure that only serious buyers are brought forward. Buyers will have full confidence in the purchase they are making and sellers will be protected by an escrow model.

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According to Etop Ikpe, CEO and co-founder of Cars45, “We want to connect buyers and sellers across the continent in the most seamless way, taking the stress out of the trading experience. After successfully establishing ourselves in Nigeria, expanding into Ghana and Kenya made perfect sense as the ideal next step as we build a transparent and fair structure for trading cars on the continent.

Ikpe added that “the process of buying and selling cars today can be complicated, time-consuming and needlessly expensive. We want to put an end to that by providing an easy and convenient way for consumers across Africa to make what is often the most significant financial transaction of their lives.”

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Tony Elumelu Dedicates the AABLA Philanthropist of the Year Award to Young African Entrepreneurs

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Johannesburg, South Africa, December 5, 2019 – Tony O. Elumelu, CON, Founder of the Tony Elumelu Foundation (TEF) and Chairman, Heirs Holdings and United Bank for Africa Group, received the All Africa Business Leaders’ Awards (AABLA) yesterday in Johannesburg. In the acceptance speech delivered by Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation, Elumelu dedicated the award to young African entrepreneurs, commending their drive to succeed against all odds.

Organised by CNBC, the AABLA Awards “Philanthropy Award” category seeks to identify and recognise individuals for their exemplary and unique contributions towards the social and economic development of Africa. According to the organisers, the recognition was attributed to African entrepreneur and philanthropist Tony Elumelu for his outstanding moral and financial investment in Africa, and his support of young African entrepreneurs.

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Receiving the award on behalf of Mr. Elumelu, Ifeyinwa Ugochukwu commended entrepreneurs for their spirit of achievement and excellence. In her acceptance speech, she said: “This award is dedicated to the hundreds of thousands of young African entrepreneurs who apply to the Tony Elumelu Foundation Entrepreneurship Programme every year. They are the true heroes of our continent.”

The Tony Elumelu Foundation, an African private-sector-led philanthropy focused on empowering African entrepreneurs, has thus far empowered over 7500 entrepreneurs across all 54 African countries with seed capital, business training and capacity building skills needed to scale their businesses. The goal is to empower young African entrepreneurs to create millions of jobs and revenue on the continent, tackling poverty and extremism, and creating economic hope in underserved communities while contributing to the overall advancement of the African continent.

The Tony Elumelu Foundation recently announced that it will open its annual call for applications for the new cohort of entrepreneurs on January 1, 2020.

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