Hi {{ FIRSTNAME | there, }}

Outta moves? Don’t over-estimate the ability of AI just yet — a 1978 Atari 2600 totally owned ChatGPT in a game of chess. Even worse, GPT was the one who challenged the Atari, but after 90 minutes and multiple tries, the AI just couldn’t hack it. Intriguing. 🤔

But first, we’re working on some exciting plans and want to test a new format for today’s news… Our mission: You should be able to read it all in 5 minutes or less. Let us know if you manage…

Ever since BlackBerry founder Mike Lazaridis coined the term “superapp” in 2010, we’ve seen WeChat rise to the role in Asia with its digital wallet. And in 2022, when Elon Musk acquired Twitter, it seemed like a superapp play – still possibly the game, as Elon and team are working on launching X Money later this year.

The global “superapp market” is set to grow more than 5x by 2032, growing from $128 billion to $714 billion (that’s R12.8 trillion). And since The Open Letter has interviewed 100s of SA founders and their startups over the last 2.5 years, we’ve been watching the trends for the local market.

The opportunity

WhatsApp is by far the most used app in SA: We’re talking 93.8% of South Africans use it multiple times per day – way more than Facebook (88.6%), TikTok (76.9%), and Instagram (71.4%).

And local startups are already trying to maximise WhatsApp’s potential:

But something as mundane as loading your prepaid electricity is still a tedious and painful process. Time for an update?

Who’s solving the problem?

Prepaid24 has just launched South Africa’s first full-service WhatsApp platform for prepaid purchases: Recharge your prepaid electricity and water meters, pay municipal bills, top up airtime or data and grab vouchers for Netflix, Uber, Takealot or Spotify (and more), all from the same WhatsApp chat.

The Prepaid24 service covers 95% of municipalities and Eskom meters, supports all major networks, and delivers tokens or voucher codes instantly once payment is made via Prepaid24’s own SmartFund wallet or payment partners Ozow’s Instant EFT.

You can even automate top-ups or schedule recharges — all from WhatsApp. Convenient.

Have your say…

⚡Opening the grid for business. Local startup Open Access Energy (OAE) has landed a US$1.8 million seed funding round to scale their platform and support the growing demand for flexible, decentralised energy infrastructure in South Africa. The round is backed by E3 Capital, Equator VC, and Factor E Ventures. Very nicely done Team OAE, (and fellow Founder Collaber Timo).

🗒️ Chuck those sticky notes. Are you a Solopreneur looking for a way to organise and make your workflows more efficient? Join the in-person Build Your Solopreneur Systems in Notion event hosted by SA’s FIRST official Notion Ambassador (and Founder Collab Member), Candice Grobler, for a hands-on evening of Notion demos, peer builds, and more. We love ourselves a bit of Notion, hey…

🛰️ Get Connected. Starlink has put forward an offer to SA’s Trade, Industry & Competition Minister to connect 5’000 rural schools in SA via fully funded Starlink kits and services, provided Starlink is allowed to operate in SA. Not a bad deal to get just under half of our rural schools connected to the www.

🏎️ Away We Go. SA’s F1 dreams have taken another step forward with the sport’s governing body, the FIA, approving the plans to upgrade the Kyalami race track to Grade 1 status. The FIA has given the SA circuit 3 years to complete the proposed upgrades, including enhancing run-off areas and barriers. Ample time for the proposed 3-month timeframe these upgrades should take. Now to just find the $5—$10 milly needed to settle the bill…

✅ The Stack. Founders need tools and suppliers they can trust. Check out our Founder’s Stack with full-funnel tech performance marketing by Stream, hardware, software, acceleration and funding for remarkable builds with Octoco and loads more vital startup tools & services.

More founders are setting up shop offshore first, with some European countries even granting South Africans virtual residency, just to access our talent pool.

But if offshoring is a serious consideration, many South African startups look to trusted international territories like the Isle of Man as a way to access more funding and opportunities.

1. Investors take you more seriously

The Isle of Man is one of the most trusted financial jurisdictions in the world. It’s internationally recognised for regulatory excellence (by the IMF, no less) and has been named Best International Finance Centre three times in the past four years. That kind of credibility makes your raise that much easier.

2. It’s easier to attract international capital

If you're targeting VCs or LPs in Europe, the UK or the Gulf, an Isle of Man presence helps you clear red tape – and get treated like a global player, not just a regional one.

3. You get real support

Up to 40% of relevant costs covered. Networking and advisory services. One-on-one guidance. Finance Isle of Man isn’t just a registry – it’s a partner in your growth. They actively help founders set up, scale and connect into their global networks.

4. It’s built for business

From banking and investments to insurance, pensions, and fiduciary services, every major piece of the finance stack is already there. Add strong digital infrastructure and a pro-business government, and it’s clear: this isn’t some sleepy offshore haven. It’s an engine.

5. You’ll move faster

Because the island is small, decisions move fast. You get quick access to regulators, policymakers and dealmakers. That’s an advantage most founders underestimate—until they’ve seen how slow things can move elsewhere.

Bottom line? If you’re building a globally ambitious business in South Africa, there’s a case to be made for looking offshore.

Start here.

_{*This content is part of a paid partnership with Finance Isle of Man}

Next up in our members-only founder network — The Founder Collab.

27 June 12:00 — Business Value Masterclass: Come get the inside track on strategies to increase your business’s value, straight from the experts with Graham Stephen from bizval.

11 July 12:00 — Business Automation Masterclass: Come learn how to automate your entire business from day one with Theunis Duminy from the automation pros at Vertiqal.

25 July 12:00 — The Art of Execution Masterclass: Learn to bridge vision and reality by turning your strategy into results with 7 proven disciplines and a scalable leadership Ops System by Jason Goldberg, Art of Scale author and co-founder of Edge Growth.

PLUS: When you join The Founder Collab, you get access to expert sessions, more than 100 SA founders to network with and weekly online and offline network engagements.

🖥️ Full Stack Developer @ Noodle

🥳 Mr D — Advertising Team Lead @ takealot

🤓 Product Head II @ FNB

🎨 Mid-weight Graphic Designer @ OneDayOnly

Hiring? Get in touch, and we will feature it here.

I don’t wear gumboots,
Yet I grow things every day.
I sit on your shelf,
Feeding greens the modern way.

No sun? No sweat here.
Just lights, water, and design.
Farms in your kitchen —
Which SA startup is mine?

On Tuesday, we asked how useful you think a degree is today, and most agree it’s only in certain fields…

🟨🟨🟨🟨🟨⬜️ 🎯 Still essential (36%)

🟩🟩🟩🟩🟩🟩 🧑‍💼 Depends on the field (42%)

⬜️⬜️⬜️⬜️⬜️⬜️ 🤝 More about the network (5%)

⬜️⬜️⬜️⬜️⬜️⬜️ 🕰️ Becoming outdated (6%)

🟨⬜️⬜️⬜️⬜️⬜️ 🤷‍♂️ Not sure anymore (11%)

Your 2 cents…

Nice, Barb — good luck! What field you heading into now? 📚

Somehow, we had a feeling you’d say that, Danei. 😊

Awesome and progressive, Shihaam. Where you studying? 🤖

Ha ha, so true, Willem. Wonder if there are AI parent riots today… 🧮