Silvertree Internet Holdings appoints ex Reckitt emerging markets CEO Freddy Caspers as Chairman

Silvertree Internet Holdings appoints ex Reckitt emerging markets CEO Freddy Caspers as Chairman and invests over 15M USD into Africa

Africa’s leading Internet Platform, Cape Town-based Silvertree Internet Holdings (Silvertree, www.Silvertree.holdings) has recently reached the milestone of over USD 15m (approx. ZAR 200m) channeled into African consumer-focused technology companies since inception in 2014. The portfolio has achieved an average >200% annual revenue growth, helped by fast-growing companies like car buying site carzar[dot]co[dot]za and meal-kit delivery company ucook[dot]co[dot]za.

To build on this success, Silvertree is excited to announce the appointment of Freddy Caspers as non-executive Chairman of the Board. Mr. Caspers has been one of the core team members behind the phenomenal success of Reckitt Benckiser (RB), as executive board member and CEO of Emerging Markets. RB, a London-listed global FMCG company, owns brands including Durex, Dettol, Vanish and Finish. RB has been one of the biggest business success stories of the 2000s, building the ‘Apple of the FMCG industry’ and turning a provincial USD 1bn market capitalization business into a USD 75bn global giant in less than 10 years. Mr. Caspers as CEO of Emerging Markets (including Africa) grew sales from 1 to 8bn USD and profits 16 times while creating a shareholder value increase of over 20bn USD during his tenure and managing a portfolio of companies with sales in over 100 countries and 25.000 people.

Silvertree believes the biggest opportunities for tech investment in Africa are in businesses driven by strong teams that are executing simple, proven models. Furthermore, a focus on all three long term value creation drivers Net Revenue growth, margins and cash allows the group’s operations to reach breakeven much earlier in their life-cycle.

Mr. Caspers said, “I have great ambitions for Silvertree: to build it into the most successful internet technology company across Africa. Similarly to my approach at RB, exceptional people with a performance driven culture and executional excellence will be key to our value creation to transform economic growth across the region.”

Looking forward, Silvertree plans to invest over USD 10m (ZAR 130M) in the next 12 months into new and existing portfolio companies that make use of technology to reach consumers, with a focus on growth stage and buy-out opportunities. Silvertree has a unique owner and operator approach with active and large investments and leverages best practices across their business portfolio as well as support from its global network. To find out more about Silvertree’s investment criteria please visit http://Silvertree.holdings/investment.

Founder and MD Mr. Allerstorfer added, “We want to partner with like-minded entrepreneurs looking to disrupt large and high margin industries in Africa. It is still day 1 of the Internet in Africa!”

Silvertree is also actively searching for great entrepreneurial talent to join the team of Silvertree and/or portfolio companies. More details are available at http://Silvertree.holdings/careers.

Distributed by APO on behalf of Silvertree Holdings.

About Silvertree:
Silvertree Internet Holdings (www.Silvertree.holdings) is an operating and holding company for early and mid-stage tech businesses targeting African consumers. Silvertree incubates and invests into ventures, and focuses on execution of simple, proven business models. Based in Cape Town, the Silvertree portfolio includes ~15 companies from niche e-commerce (faithful-to-nature[dot]co[dot]za, cybercellar[dot]com, ucook[dot]co[dot]za, dealdey[dot]com), classifieds (carzar[dot]co[dot]za), comparison (pricecheck[dot]co[dot]za, compareguru[dot]co[dot]za), travel (ker-downeyafrica[dot]com) as well as digital service companies (sproutperformance[dot]com, humanvalue[dot]co[dot]za).

Silvertree Contact details: Amy Marriner, 021 286 1666 or info@Silvertree.holdings.

About Freddy Caspers:
Before joining Silvertree as Chairman, Freddy drove more than 20 Billion USD of value creation as founding Executive Board Member of Reckitt Benckiser PLC, one of the leading global players in the consumer and health care industry, serving as CEO of emerging markets for 16 years. His contribution included step changes in growth following successful launches of Power Brands like Durex, turnaround of loss making companies and the successful integration of several large acquisitions.
He also works currently in Europe on large-cap deals as Senior Advisor for EQT, a leading global private equity firm. He is owner of a private equity investment vehicle holding various investments into small cap consumer goods, tech and healthcare ventures, mostly in Africa.
In his early FMCG career he managed leading global brands at PepsiCo and Johnson&Johnson, in various international roles.
His vision for Silvertree is to help to transform economic growth across Africa by creating the leading internet-based brand portfolio powerhouse across the region.

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Source:: Silvertree Internet Holdings appoints ex Reckitt emerging markets CEO Freddy Caspers as Chairman and invests over 15M USD into Africa

      

Categories: AFRICA, African Technology, South Africa | Tags: , ,

Angola : Portuguese company provided Laúca Hydroelectric Power Plant

Portuguese company provided Laúca Hydroelectric Power Plant, the largest engineering work in progress in the country which benefits more than 8 million people

Efacec (www.Efacec.pt/en) has produced and installed the largest and most powerful transformer in Angola. It is the first of seven power transformers that equips the Hydrolectric Power Plant, located in the province of Malanje.

Once the power transformer starts operating, it will be able to drain the energy produced in the first generating set of the dam, benefiting more than eight million people and the development of the north, center and south regions of Angola.

Located between the provinces of Cuanza Norte and Malanje, the Laúca Hydroelectric Plant, whose construction started in 2012, is the third dam under construction in the Kwanza river bed, after Cambambe and Capanda, and will have a production capacity of 2070 megawatts.

This power transformer, a split-phase solution, was produced at Efacec’s plant in Arroteia, Portugal, for Andritz Hydro, has a power output of 371 MVA and voltage levels of 400/ 18 kV. This solution developed by Efacec, with separate shipment of the transformer’s phases, allowed a successful transport of this large equipment to places hard to reach by road transport. Efacec’s local team ensured the follow-up of the machine, from its arrival in the port of Luanda to Laúca, as well as all the assembly, filling, testing and start-up assistance operations.

Distributed by APO on behalf of Efacec.

About Efacec:
Efacec (www.Efacec.pt/en) is a Portuguese company with a strong international presence that produces products for power transmission and distribution (adapters, service, high and medium voltage switchgear and automation gear) for
the Energy, Environmental, Industry and Railway sectors and develops energy charging solutions for Electrical Mobility.
Efacec develops its activity in strategic markets, such as Europe (Western and Eastern regions), United States of America, Latin America, Maghreb and Southern Africa.

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Source:: Portuguese company provided Laúca Hydroelectric Power Plant, the largest engineering work in progress in the country which benefits more than 8 million people

      

Categories: AFRICA, African Environmental Issues, Angola | Tags: ,

Africa Free Trade Agreements Present an Opportunity to Access New Markets

The free trade agreements in Africa, particularly the Tripartite Free Trade Agreement and the envisaged Continental Free Trade Area present an opportunity for African countries to improve intra-regional trade and diversify Africa’s current trade model of exporting raw materials and importing of finished products. This was said by the Director of the New Partnership for Africa’s Development (NEPAD) at the Department of Trade and Industry (the dti), Ms Claudia Furriel.

Furriel was speaking today during the session on trade agreements at the SADC Industrialisation Week taking place Johannesburg. The Week, which is held under the theme Partnering with the Private Sector in Developing Industry and Regional Value Chains, started on Monday and ends tomorrow.

“The Free Trade Negotiations launched in June 2011 between the Southern African Development Community (SADC), Common Market for Eastern and Southern Africa (COMESA) and the East Africa countries would open up a market of US1.3 trillion in terms of the Gross Domestic Product. In addition, the continental free trade that is to be established with 55 countries and a GDP of US2.6 trillion presents an opportunity to access greater markets. On this free trade agreement, we are not only looking at trade in goods but also trade in services. Market integration, supported by infrastructure development and industrial development, will enable Africa to become competitive and benefit from other trade agreements with other partners,” said Furriel.

According to Furriel, the continents’ full potential will remain unfulfilled unless we address the challenges of poor infrastructure, small and fragmented markets, under-developed production structures and inadequate economic transformation.

“Regional integration is an important aspiration of the African Union’s Agenda 2063 and remains a critical component of the continent’s efforts to ensure sustainable economic development and inclusive growth through the creation of a larger regional market and improving Africa’s integration in the global economy. South Africa promotes a development integration approach, based on the three pillars of market integration, infrastructure development and industrial development and we remain committed to a coordinated strategy to boost intra-Africa trade and build an integrated market in Africa,” added Furriel.

She stressed that the regional free trade agreements have a potential for attracting investment to a larger markets and transform African economies.

The Trade and Investment Officer at the United States of America Embassy in South Africa, Mr Juan Cammarano, said the extension of the African Growth and Opportunity Act (AGOA) was an indication that the US’s job was not complete in Africa. He said the extension presented an opportunity for businesses to continue to grow, build capacity and commercial relations and urged them to look beyond 2025.

Distributed by APO on behalf of The Department of Trade and Industry, South Africa.

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Categories: AFRICA, African Economics | Tags:

New ECA Chief Meets Ethiopian Prime Minister

New ECA Chief Meets Ethiopian Prime Minister; Renews Commitment to Africa’s Transformation

The Economic Commission for Africa (ECA) and the Ethiopian government on Thursday renewed their commitment to working together for the economic and social transformation of Ethiopia and the African continent at large.

The commitment came from the new ECA Executive Secretary, Vera Songwe, and Ethiopia’s Prime Minister, Hailemariam Desalegn, when they met at his offices in Addis Ababa.

The two leaders discussed a number of issues, including the urgent need for the continent to strengthen its domestic resource mobilization so it can fund its development; ongoing Continental Free Trade Area (CFTA) negotiations; intra-African trade; special economic zones; climate change; gender; peace and security.

Ms. Songwe said following Brexit and the new American isolationist policies, there is need for Africa to unite more than ever and take advantage of the gaps being left by the threat against multi-lateralism.

“Of course there is uncertainty at the moment but what makes us happy is that it is happening at a time when Africa is getting its voice back,” said Ms. Songwe, adding the continent must capitalize on the discord being created by dissenting voices against globalization.

“We must unite in Africa as others disperse for we stand a better chance of taking the space others are vacating if we stand as one. We can only weather this storm by working closely together for the transformation of our economies but more so if we rely on our own resources.”

The new ECA Chief said Africa’s institutions need to be reformed if they are to meet the continent’s challenges, including resource mobilization to fund the continent’s development.

For his part, the Prime Minister agreed, adding the spirit of Pan-Africanism embodied in the ECA and her sister organizations, the African Union Commission (AUC) and the African Development Bank (AfDB) should continue to spur the continent’s desire to do more for itself.

“The collective role that these Pan African institutions play adds value in a lot of ongoing work for Africa’s transformation,” said Mr. Desalegn, adding the ECA remains a key player in Ethiopia and Africa’s development.

He thanked Ms. Songwe for her role as a member of Rwandan President Paul Kagame’s committee that has been looking at implementing institutional reforms at the African Union.

The Prime Minister said he was quite happy that Ms. Songwe was appointed the first woman Executive Secretary of the ECA, adding this was a sign that Africa’s women are on the rise.

The two also talked about the host country agreement that governs relations between the ECA and Ethiopia.

Prior to her meeting with the prime minister, the Executive Secretary paid a courtesy call on the foreign affairs ministry where she discussed wide ranging issues concerning Ethiopia and the continent with the state minister for political affairs, Hirut Zemene.

On Friday, Ms. Songwe will meet other dignitaries, including Cameroon’s Ambassador to Ethiopia, Jacques Alfred Ndoumbe-Eboule, who is also the Dean of the Diplomatic Corps, Ethiopia’s State Minister of Finance and Economic Cooperation, Admasu Nebebe, and the African Union Deputy Chairperson, Thomas Kwasi Quartey.

Distributed by APO on behalf of United Nations Economic Commission for Africa (UNECA).

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Source:: New ECA Chief Meets Ethiopian Prime Minister; Renews Commitment to Africa’s Transformation

      

Categories: AFRICA, African Economics, Ethiopia | Tags: , ,