Endeavor South Africa Quarter 1 Newsletter 2024

Dear Friends of Endeavor,

There is a subtle change in temperature, and not just in the air. Inflation looks to have peaked, both locally and globally, and despite uncertain timing, monetary conditions are forecast to ease. The political schedule ahead is busy, with our local general elections in May and the US general elections in November. At Endeavor, there has also been change with an enhanced internal ‘LinkedIn’ system to better leverage, serve, and connect our network. Globally, we are launching a satellite London office, and regionally our next Endeavor International Selection Panel is in Kenya in May. Closer to home, we have been hosting coffee meetups at entrepreneur offices to bring our community together. We hope to see many of you there!

For those of you who we have not had the pleasure of connecting with recently, here’s what has been going on in our local world of high-growth entrepreneurship.

Local Endeavor Events & Network News

Endeavor SA welcomes the latest JSE cohort of high-growth early-stage South African enterprises. This program specifically focuses on job creation, transformation, and economic growth through supporting early-stage entrepreneurship. Read More

This quarter marked the launch of the African Agritech Scale-Up Program — 10 remarkable agritechs were selected for the 2023 cohort, in collaboration with Endeavor, FMO, and AfricaGrow. These businesses are addressing various challenges within the agricultural ecosystem, spanning from precision farming to financing solutions for farmers. Read More

It has been Summer in the Cape. Whether you’re planning a trip or looking for valuable networking opportunities, our calendar serves as a guide. See what’s on the horizon for 2024 with our curated Events Calendar. Link

Endeavor Catalyst Global Managing Partner Allen Taylor was in Cape Town alongside the newly appointed head of Catalyst for Africa, Michelle Wanjiku. Allen was invited to speak at the Stitch x Raba Conference where the value of SA entrepreneurs and market was highlighted to a global and regional audience of investors and entrepreneurs. Key takeaway from successful South African entrepreneurs, the value of addressing real-world problems through innovation and building long-term competitive advantages. Read More.

Endeavor Local Scale Up: Welcome to the latest joiners

Entrepreneur News

Yellow selected to join the global Endeavor network! We welcomed 11 new entrepreneurs to the network in January 2024, spanning 6 companies from 5 continents. Among these is Michael Heyink from Yellow — we warmly welcome this real change-maker, transforming lives in Africa. Read More

Carry1st selected to join the global Endeavor network in February 2024: A huge welcome to Cordel Robbin-CokerLucy Hoffman, and Tinotenda Mundangepfupfu from Carry1st, which is Africa’s leading game publisher. Read More

TymeBank Reaches Profitability: TymeBank reaches a key milestone as they become the first African digital bank to become profitable in under 5 years. This achievement underscores the potential of digital banking solutions to address financial inclusion on the continent. Read More

Ozow & Nedbank Partnership: Ozow has partnered with Nedbank to offer enhanced digital payment solutions in South Africa. This partnership streamlines payments and further promotes financial accessibility. Read More

SweepSouth in ForbesAisha R. Pandor, co-founder of SweepSouth & co-founder & CEO of Pandora Biosciences, is featured in Forbes Africa. This well-deserved recognition highlights the power of female entrepreneurship and the impact SweepSouth has and is having on empowering domestic workers. Read More

TTRO x PrivySeal Partnership: TTRO and PrivySeal collaborate on solutions for digital credentials and trust. This partnership will focus on ensuring the integrity and verifiability of digital learning credentials — essential for both individuals and organizations. Read More

Boost Mastercard Collaboration: Boost Technology and Mastercard partner to drive growth for small businesses in Africa. This initiative focuses on digital payment solutions and wallets across Nigeria, Ghana, Kenya, Egypt, Senegal, and South Africa, streamlining access to finance and retail supply chains. Read More

Capital Raising News

Endeavor Catalyst 2024 Global VC Predictions: Key trends and insights on the venture capital landscape. Highlights include:

  • A return to pre-2020 investment levels
  • Renewed optimism in frontier industries like AI
  • Importance of staying invested during economic downturns

Read More

Carry1st announces a funding round with the Sony Innovation Fund!: Africa. Read More

Global Endeavor News

The Outliers list is out now, congrats to this elite cohort of entrepreneurs. Read More

Global Capital Raises — the latest roundup

ZEDEDA, led by Endeavor Entrepreneur Said Ouissal, is redefining edge computing, echoing Amazon and Microsoft’s cloud revolution and celebrates its recent $72 million growth capital round, read more about the story behind this milestone here.

Endeavor entrepreneur Alex Chatzieleftheriou, founder and CEO of Blueground, just announced a US$45M Series D.

Global Endeavor Events & Entrepreneur News

Listen to Martin Migoya, the founder and CEO of Globant where he shares the trials and triumphs of the startup journey with Olga Maslikhova on The J Curve.

➡️ Watch the full conversation on YouTube; here.

Farewell & Welcome: Tim Barr returns to Endeavor Midwest after his one-month immersion experience in Cape Town. This exchange program fosters greater understanding of emerging markets. We welcomed Luis Voss from Germany for a 3-month internship in Cape Town, providing hands-on experience with high-impact entrepreneurs. Read More.

Melvyn Lubega, co-founder of Go1 and Endeavor SA Board Member is on a mission to upskill the global workforce. Melvyn shares his insights by answering the question on how to best prepare your team for the future of work: ‘now is about being ambidextrous and mastering a multitude of skills.’ Click here for the video.

Closing the quarter

“It’s not the destination, it’s the journey” — Ralph Waldo Emerson was once quoted as saying.

The word journey comes from ‘jour’ in French, which means day. Diana Nyad, who attempted to swim 110 miles from Cuba to Florida (not once but 5 times) successfully completed the crossing at the age of 60, reflected that while she agreed it wasn’t just about the destination, it certainly helped to have that destination in mind, in order to complete the journey! This resonates with us in the world of entrepreneurship.

At Endeavor, our goal is to unlock the transformational power of entrepreneurship by selecting, supporting, and investing in the world’s top founders, accelerating and enhancing their growth, and providing them a platform to pay-it-forward. Remembering this North Star allows us to focus on the day-to-day journey.

So, just as the seasons begin to shift, we continue to expect a year of change, yet with an overriding progression towards our destination. Wishing you a productive next quarter!

Warm regards,

Alison Collier, Endeavor South Africa MD.