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Today's top entrepreneurship and business stories

Today's top entrepreneurship and business stories

5 local entrepreneurs make the Forbes 30 under 30 cut

South African entrepreneurs Nadav Ossendryver, Siya Beyile, Inga Gubeka, Emmanuel Bonoko and Mogau Seshoene have made it onto this year's Forbes Africa's 30 under 30 list of the most promising entrepreneurs from around the continent, across various sectors.

Speaking to CNBCAfrica, Chris Bishop, Managing Editor of FORBES AFRICA said, "This is the most important list of the year for FORBES AFRICA. If one young African reads it and is inspired enough to start a business it has done its job."

South African entrepreneurs Mogau Seshoene is the founder of The Lazy Makoti, a culinary business to teach women cook traditional South African food, Nadav Ossendryver, the youngest of the five at 19, is CEO and founder of an online, real-time, wildlife spotting service, Latest Sightings, for visitors to the Kruger National Park, Siya Beyile is founder of The Threaded Man, Inga Gubeka is the founder and CEO of Cape-Town based design studio Indalo Décor, and Emmanuel Bonoko, who founded the EBonoko Foundation.

Ancillar Mangena, who edited the list, said, "This has been a very long but interesting journey. I think I am more excited about the list a little more than the entrepreneurs. I have become attached to each and every one of them because the vetting process was so long and I had to talk to them often. I am confident they are the billionaires of tomorrow. Peruse them, argue over them and follow their journeys. We find this list exciting, thought provoking and forward looking."


MTN names entrepreneurship challenge winner

Interactive health platform MedRX from Ghana was on Friday announced as the winner of the inaugural MTN Entrepreneurship Challenge at the MTN Entrepreneurship Festival held at Philippi Village in Cape Town.

Beating two other finalists, the judges said the platform had the best online to offline capability.

According to IT News Africa, the application aims to connect users to health personnel from various fields of practice including hospital, pharmacy, laboratory and academia.

"It's like having a pharmacy on your phone and having access to medication," Victoria Acheampong from Team MedRX told the publication.

Herman Singh, Chief Digital Officer from the MTN Group said, "We were really impressed with the width of their functionality and the depth of the integration of the application, handling a very complex challenge that actually delivered astonishingly great human value."

MedRX walked away with US $25 000 cash prize as well as a year-long partnership with Jumia, a Facebook Start Program to the value of US $15 000 and the opportunity to be incubated at the MTN Solution Space at the University of Cape Town Graduate School of Business and at Jumia.

"It's such an amazing feeling," Acheampong said, "We actually just entered the MTN Entrepreneurship Challenge to get exposure and it is such a great feeling to be announced the winner. Health is very important to move any nation forward and this trend can be seen across the African continent. As a team we wanted to make this integral connection easier between medical resources and the people on the ground, and the MedRX application does just this. The implementation of our application will give us the opportunity to be more effective in our country and create positive change and it will be our ultimate goal to upscale and take this positive change to everyone across Africa. We truly hope that this is the beginning of a very bright future for us."


SA up 1 but still in bottom 10 of World Competitiveness Rankings

South Africa moves up one position to number 52 in the World Competitive Rankings released on Monday.

According to Fin24, the country, however, still ranks in the bottom ten of the 61 countries.

Competency of government was listed as the least attractive indicator (0%) by business executives who were asked to list 5 indicators from a list of 15 that they perceived as the key attractiveness factors of the SA economy. Effective legal environment (79.2%) was listed as the most attractive followed by quality of corporate governance (68.8%); cost competitiveness (64.6%); reliable infrastructure (58.3%) and access to financing (58.3%).

According to the publication, South Africa was the only African country that made it into the rankings and it's overall performance in the last four years has only moved in a narrow band from a high of 50 in 2012 to 52 currently.

Lack of commitment to skills development, growing poor public sector service delivery and perceived corruption, poor and hugely uneven education outcomes, low business confidence and declining household demand were listed as South Africa's challenges for 2016 by the IMD World Competitiveness Centre.