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In2IT partners with Nedbank and MADA- addresses IT skills development in rural KZN with new learnership initiative

Feb 10, 2017
In2IT Technologies

Today's top entrepreneurship and business stories (10 February)

Silvertree acquires Nigerian price comparison site TopCheck, Sekunjalo to launch R500 million entrepreneur fund, and more

Silvertree acquires Nigerian price comparison site TopCheck

Silvertree Internet Holdings, Africa’s leading Internet platform, has acquired Nigerian price comparison site TopCheck for an undisclosed amount.

TopCheck is Nigeria’s leading price comparison site for financial services offering free online comparison for insurance products, loans, and broadband internet plans. The website recorded fast growth in 2016, processing up to 3 billion Naira (10 million USD) in Gross Application Value per month. It was founded by European entrepreneurs Christian Wiesner Jose Figueiredo and Thomas Pilar in 2014, and headquartered in Lagos and Berlin. The startup, that dubs itself the “Moneysupermarket of Africa”, had raised 1 million Euros in venture capital in 2015.

Silvertree Internet Holding is a Cape Town based Internet holding company which owns and operates Internet assets across Africa. TopCheck will join Silvertree’s subsidiary Compare Africa Group (CAG). CAG is active in South Africa, Kenya and Nigeria, and offers online price comparison of goods and services through various websites. The group owns financial services websites Compareguru (Compareguru.co.za), as well as product comparison site PriceCheck (PriceCheck.co.za), which was recently acquired from Naspers.

Silvertree has been very active in acquiring Nigerian tech companies in the past, having taken over Nigerian insured(dot)ng from Spark (2015) and deals site Dealdey (2016) from Kinnevik.

"The TopCheck team is excited to join forces with Compare Africa Group. Together, we are forming Africa’s undisputed leader in price comparison," says Thomas Pilar, TopCheck Founder.

Sekunjalo to launch R500 million entrepreneur fund

Sekunjalo Investment Group announced that it will commit R500 million to boost renewable energy initiatives and women-owned businesses, this is according to a report by Independent Online.

Sekunjalo executive chairman Iqbal Survé said that the Sekunjalo Impact Fund would play a meaningful role in improving their quality of life.

Survé said the company had already made the amount available and extended an invitation to local and international investors to join in raising more money for the fund.

"Unlike most funds the focus won’t exclusively be on financial returns, but on the social impact the individual or company makes in improving the lives of people and communities. “There has to be a commercial return, but not as high as from the stock market and private equity funds," Survé said.

Survé is quoted saying the fund will be run by a management team with social impact funding experience. (via Independent Online)

In2IT partners with Nedbank and MADA –addresses IT skills development in rural KZN with new learnership initiative

Information and Communication Technology (ICT) managed solutions provider, In2IT, has partnered with Nedbank and Moving Ahead Development Agency (MADA), a registered Non- profit and public benefit organisation responsible for the implementation of National Skill Development, to create a new learnership programme. The programme will focus on providing Information Communication Technology (ICT) skills development and employment opportunities for young graduates from rural and semi-rural KwaZulu Natal (KZN).

In2IT and Nedbank will be funding the project and have invested a combined sum of around R2.6 million to kick it off. In2IT will also be providing the theoretical and practical training to qualifying graduates. MADA came with a concept of developing unemployed IT graduates from the rural communities by sourcing funding and forging partnership with Nedbank and In2IT. They will facilitate the project to ensure that the partnership meet its objectives.

This new programme follows on the heels of the continued success that In2IT has with their existing learnership programme, which is currently offered to Gauteng technology graduates. Learners will attend three months of pure classroom training where they will start off with the basics of IT or ‘Systems Training’. Once completed, they will be deployed into In2IT live environments where they will be coached and mentored for a further 8 months, before wrapping up and receiving their NQF Level 5 certificate. The graduates will all be given employment at In2IT once they have completed the learnership programme.

The article was first published in SME South Africa

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