30 April 2024: The South African Venture Capital and Private Equity Association (SAVCA), in partnership with Investec recently announced its fourth in-person SAVCA Industry Awards. This awards platform aims to recognise the achievements of local portfolio companies that have leveraged the power of invested capital to take their ventures to the next level. After much deliberation, this year’s expert panel of judges has announced the nominee companies in the venture capital and small companies categories.

Introducing this year’s nominees in these two categories is SAVCA’s CEO, Tshepiso Kobile, who says that: “South Africa’s entrepreneurial ecosystem is a hotbed of innovation, creativity and economic development. However, it remains a system that does not operate in isolation and requires concerted effort from many stakeholders to ensure its success. Small businesses and those in the earliest stages of funding are particularly well placed to benefit from the well-established PE and VC models, which facilitate risk capital, access to markets, deepening of skills, strategic guidance and governance processes within investees, and importantly, a partnership model with these entrepreneurs as they navigate tough trading conditions.

The portfolio companies nominated in these categories show amazing potential to join the fray of African brands and businesses that are changing the face of their industries. All of them are incredibly deserving of the nomination.”

Start-up company and venture capital nominees

The companies in this category needed to meet at least two of the following criteria to enter: be less than five years old, post-revenue, and at early stage or Series A or B funding (excludes seed/pre-revenue). In no particular order, the 2024 category finalists are:

Pineapple | Insurtech

Pineapple was founded by a chartered accountant and a founding team who eagerly entered an innovation competition in 2016 and put forward an idea for a disruptive model in the insurance industry.

According to The Digital Insurer, currently the world’s largest knowledge hub on digital insurance, Pineapple’s model is decentralised, scalable and offers fully comprehensive cover through a smartphone app. The brand’s fresh, youthful tone and quirky visual language is reflective of its ground-breaking approach to insurance, powered by revolutionary technology.

EmGuidance | HealthTech

EMGuidance is an independent digital platform that connects the healthcare ecosystem and medical industry to healthcare professionals at the point of care. The Founders aim to provide access to comprehensive decision-making support, and introduce advances in medicines, diagnostics and therapeutic interventions.

“I am really pleased to hear about EMGuidance’s nomination. The team has put in monumental efforts over the last 7 years. With support from our investors, and the broader healthcare ecosystem, EMGuidance has become the most well penetrated digital platform in the medical community.

It is used and relied upon daily by most South African healthcare professionals, driving improvements in outcomes for millions of patients. The recognition of these efforts further motivates us to advance the platform and reap the rewards of years of user growth and business model maturation,” says Dr Khan.

Lipa Payments | Payments technology

Lipa Payments uses cutting-edge software to enable contactless payments that can be made using a mobile phone. With the ultimate goal of ‘shaping the future of contactless payments,’ the business aims to drive the move towards a cashless economy and using a contactless payments solution that can operate on low-end smartphones, promote greater financial inclusion and boost the accessibility of payment innovations .

Lipa Payments’ technology has been designed to meet the needs of micro-enterprises in townships and outlying, rural areas where internet connectivity remains a challenge.

hearX | HealthTech

hearX is an industry-leading health tech company with a mission to make healthy hearing accessible to everyone, everywhere. Using smart technology and data, hearX has built a suite of digital solutions to detect, diagnose, and treat hearing loss around the globe, making cost-effective hearing accessible to those who need it most.

As hearX CEO, Nic Klopper comments: “It’s a privilege to be nominated this year for SAVCA’s Industry Awards. Our nomination validates the incredible work our team does every day, in bringing smart health tech and hearing aids to the people who need it most. For too long, proper hearing care was under-prioritised and difficult and expensive to access.

We have changed an industry by offering more affordable solutions with high-powered technology, providing a clinically proven hearing experience at a lower cost. hearX Group remains dedicated to providing accessible quality hearing care to everyone, everywhere – and we are grateful to be acknowledged for our growth and global impact.”

Small companies nominees

The companies in this category needed to meet at least two of the following criteria to enter: enterprise value of under R200 million, revenue of under R200 million with positive operating cash flows. In no particular order, the 2024 category finalists are:

Ecotech | Automation solutions

Ecotech is a leading service provider of automation solutions for a range of industries as well as start-ups. The brand’s main focus is process control solutions, including added value services within the mining, water, food, power generation and petrochemical industries.

Ecotech currently provides a number of services in this arena, including consulting, the selection and specification of plant instruments, procurement and delivery, and the commissioning, servicing and calibration of plants.

Thusong Financial Services | Credit provider

Thusong Financial Services is a credit-only financial institution that was founded in 2011. The business is committed to improving the socioeconomic outlook of its clients by offering convenient, affordable and hassle-free loans, supported by client service excellence.  

LED Lighting SA | Lighting solutions

LED Lighting SA is the continent’s leading lighting solutions provider and provides a comprehensive suite of services including lighting design, engineering, manufacturing, supply and installation. The company provides turnkey lighting and automation solutions.

The business is a business-to-business company, offering lighting solutions for large new – build projects, retrofits and bespoke solutions to meet consumer requirements.   

The winners in each category will be announced at an awards ceremony to be hosted at the Investec Head Office in Sandton, Johannesburg on 09 May 2024.

As Kobile concludes: “It is imperative that we support companies that are positioning us as a country, as leaders in delivering innovative solutions to address the challenges and opportunities demanded in the world. For the country’s many aspiring business leaders and big dreamers, entrepreneurship represents the riveting prospect of driving change and climbing the next rung of the social ladder. Venture capital and private equity investments provide these passionate individuals with the impetus they need to grow. We wish all these nominees the best of luck and look forward to sharing the evening with them at the awards ceremony.”