Silvertree Internet Holdings have appointed ex-Reckitt emerging markets CEO Freddy Caspers as Chairman as it invests over US$15mn into Africa
Africa’s leading Internet Platform, Cape Town-based Silvertree Internet Holdings has recently reached the milestone of over US$15mn channelled into African consumer-focused technology companies since inception in 2014. The portfolio has achieved an average greater than 200 per cent annual revenue growth, helped by fast-growing companies like car buying site carzar.co.za and meal-kit delivery company ucook.co.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, as executive board member and CEO of Emerging Markets. Reckitt Benckiser, a London-listed global FMCG company, owns brands including Durex, Dettol, Vanish and Finish. Reckitt Benckiser has been one of the biggest business success stories of the 2000s, building the ‘Apple of the FMCG industry’ and turning a provincial US$1bn market capitalisation business into a US$75bn global giant in less than 10 years. Mr. Caspers as CEO of Emerging Markets (including Africa) grew sales from 1 to US$8bn and profits 16 times while creating a shareholder value increase of over US$20bn 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 break even 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 Reckitt Benckiser, 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 US$10m 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.
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 one of the Internet in Africa!”
