May 19, 2020

Silvertree Internet Holdings appoints Freddy Caspers as Chairman

South Africa
Internet
Silvertree Internet
Freddy Caspers
Fran Roberts
2 min
Silvertree Internet Holdings appoints Freddy Caspers as Chairman

African internet platform Silvertree Internet Holdings has announced the appointment of Freddy Caspers as non-executive chairman of the board.

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. 

As CEO of Emerging Markets at RB, Caspers was behind a rise in sales from US$1bn to US$8bn, and a sixteen-fold growth in profits.

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Caspers also created a shareholder value increase of over US$20bn during his tenure and managed a portfolio of companies with sales in over 100 countries and 25,000 people.

“I have great ambitions for Silvertree: to build it into the most successful internet technology company across Africa,” Caspers commented.

“Similar 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.”

Silvertree said it has recently reached the milestone of over ZAR200mn (US$15mn) channelled into African consumer-focused technology companies since its inception in 2014.

The company said its portfolio has achieved an average of more than 200% annual revenue growth, helped by fast-growing companies like car buying site carzar.co.za and meal-kit delivery company ucook.co.za.

Silvertree said that a focus on three long-term value creation drivers – net revenue growth, margins and cash – enables the group’s operations to reach break-even much earlier in their life-cycle.

Looking forward, Silvertree plans to invest over ZAR 130mn (US$10mm) 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.

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

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Jun 11, 2021

G7 Summit guide: What it is and what leaders hope to achieve

G7
Sustainability
G7Summit
EU
3 min
Business Chief delves into what the G7 is and represents and what its 2021 summit hopes to achieve, in terms of sustainability and global trade

Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration. 

 

Who are the G7?

The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like. 

The merry band comprises:

  • Canada
  • France
  • Germany
  • Italy
  • Japan
  • The United Kingdom
  • The United States

Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.

 

Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda. 

 

When was the ‘G’ formed?

Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s. 

 

Why does the G7 exist?

At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted. 

 

The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability. 

 

It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations. 

 

Where is the 2021 G7 summit?

This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall. 
 

What will be discussed this year? 

After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”

 

The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values. 

 

According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.” 

 

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