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Donald Trump Stance on BRICS Nations Reignite US Dollar Supremacy

By
Paul Ugbede Godwin
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0

Donald Trump recently made headlines by threatening to impose 100% tariffs on BRICS nations if they attempt to move away from using the US dollar for international trade. He emphasized the need for a commitment from these countries to not create a new BRICS currency or back any other currency to replace the US dollar. This statement came after a BRICS summit where member countries discussed boosting non-dollar transactions and strengthening local currencies.

After their first summit in Russia 15 years ago, BRIC countries released a joint statement saying, “emerging and developing economies must have a greater voice and representation in international financial institutions”. The group sees BRICS as an alternative to global bodies that it argues are dominated by Western powers, such as the World Bank and International Monetary Fund (IMF).

In 2014, BRICS members set up their own New Development Bank to lend money to developing countries to boost their infrastructure and sustainability. They hope that alternative lending institutions can increase cooperation between emerging economies and reduce dependence on Western-led funding sources. While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system.

The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar’s dominance is threatened, however, with BRICS’ growing share of GDP and the alliance’s intent to trade in non-dollar currencies — a process known as de-dollarization.

Investors are also punishing the EUR – the main currency within the DXY US Dollar Index basket –   on the back of failed budget talks in France and increasing chances that a no-confidence vote against the current prime minister is approved. Finance Minister Antoine Armand said on Bloomberg television over the weekend that France will not be blackmailed on far-right demands from the National Rally (NR) of Marine Le Pen, which is asking for changes in the budget bill.

The NR President Jordan Bardella said on Monday that its party will trigger a no-confidence vote mechanism “unless there is a last-minute miracle,” Reuters reports.  A no-confidence vote could take place as early as Wednesday, and if successful it could bring the French government down. Meanwhile, the US economic calendar is set to kick off with an eventful Monday ahead, with the Institute for Supply Management (ISM) releasing its Manufacturing PMI numbers for November.

An Atlantic Council model that assesses the dollar’s place as the primary global reserve currency states the dollar is “secure in the near and medium term” and continues to dominate other currencies. President Elect Donald Trump’s latest tariff threat comes after he threatened to slap 25% tariffs on everything imported from Mexico and Canada, and an additional 10% tax on goods from China, as a way to force the countries to do more to halt the flow of illegal immigration and drugs into the U.S.

Temu Will Unlock Nigeria’s Ecommerce Opportunities for All

By
Ndubuisi Ekekwe
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0

Do not panic if you are an e-commerce merchant: Temu will develop this industry and make it mainstream so that everyone will understand in Nigeria that the web is a market. Yes, Nigeria is entering the real ecommerce age because a company which has the resources to develop the industry is in town. Many years ago, I wrote, asking Amazon to come, in a piece titled “Why Nigeria, Africa Needs Amazon”.

Magically, we have even a better company: “Chinese e-commerce giant company Temu, known for its low pricing, has soared to the top of Nigeria’s Google Play Store and Apple App Store, becoming the country’s most downloaded app with over 500 million Android downloads. Temu’s millions of downloads come after the company entered the Nigerian e-commerce market last month. This move is expected to shake up the existing landscape and offer consumers a new shopping experience focused on affordability and convenience.”

Covid was evil but it also normalized online education, remote work and many things which before covid were were not acceptable via the web. Temu will normalize buying things online and everyone will benefit in Nigeria. They will lose tons of money, and over time strategize, but while the party is on, it will teach Nigerians how to shop online.

No company in the world can run a nationwide ecommerce playbook in Nigeria due to lack of logistics. So, as Temu brings people to the web, regional-, category-focused strategies will open up opportunities for innovative merchants.

The Future of Crypto: 5 Coins That Could Explode in 2024

By
TI Partners
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1

Every year, the cryptocurrency space surprises investors with projects that redefine expectations. With new technologies and innovative solutions emerging, finding the best crypto to hold for the long term is the key to capitalising on these opportunities. If you’ve been keeping an eye on the market, 2024 is shaping up to be a big year for blockchain projects that solve real-world problems.

One standout is Qubetics ($TICS), a coin that is revolutionising the way people and businesses interact with blockchain. Beyond that, four other projects are also catching the attention of experts and investors. Let’s explore these five coins that could potentially skyrocket in 2024.

Qubetics How the World’s First Web3 Aggregator is Changing Blockchain

Qubetics ($TICS) isn’t just another altcoin; it’s the pioneer of Web3 aggregation. Its goal is simple but revolutionary: to make blockchain usable for everyone, from tech-savvy developers to everyday businesses. At the heart of this innovation lies QubeQode IDE. This user-friendly platform helps individuals and businesses create blockchain applications without needing extensive coding knowledge. Imagine a freelancer using QubeQode to create a smart contract for payments with zero prior blockchain experience or a school using it to manage decentralised student records. These practical applications set Qubetics apart.

Here’s where the numbers make it even more exciting. The Qubetics presale is in its 11th stage and has already sold over 259 million tokens, raising more than $4.1 million. $TICS is currently priced at $0.0282, with a 10% price hike expected by the weekend when it enters stage 12. Analysts are predicting massive returns. If $TICS reaches $0.25 by the presale’s end, that’s a 783% ROI. And long-term projections? A $40,000 investment today could soar to $21.20 million if $TICS hits $15 after its mainnet launch.

Why this coin made it to this list? Qubetics stands out because it simplifies blockchain development for everyone, delivering tools that can disrupt industries and create lasting impact. With its impressive presale performance and projected ROI, $TICS is one of the best crypto to hold for long-term growth.

Hedera The Eco-Friendly Blockchain Leading Enterprise Adoption

Hedera (HBAR) is gaining traction as a green, enterprise-grade blockchain. Unlike most projects, Hedera uses a unique consensus mechanism called Hashgraph, making it faster and more energy-efficient than traditional blockchains. In 2023, Hedera announced partnerships with major corporations, including Google and IBM, to explore blockchain use cases in supply chain management, healthcare, and more.

Currently trading at $0.14, HBAR has strong growth potential. Analysts predict it could reach $0.30 in 2024 as enterprises increasingly adopt its technology. With Hedera leading the way in eco-friendly blockchain solutions, it’s no wonder it’s being considered one of the best crypto to hold for long-term sustainability.

Why this coin made it to this list? Hedera’s eco-conscious design and enterprise focus make it a top choice for businesses looking to adopt blockchain without compromising efficiency or the environment.

Arbitrum, the Layer 2 Solution That’s Revolutionising Ethereum Scaling

Arbitrum (ARB) is solving one of Ethereum’s biggest challenges: scalability. As a Layer 2 solution, it enables faster and cheaper transactions on Ethereum without sacrificing security. Developers are flocking to Arbitrum for its user-friendly tools, which make building decentralised apps a breeze. In 2023, Arbitrum launched its native governance token, ARB, to empower its community and fund further development.

Currently trading at $0.92, analysts predict $ARB could reach $5 in the next bull run, thanks to growing interest in Ethereum scaling solutions. With more decentralised applications migrating to Arbitrum, it’s becoming one of the best cryptos to hold for long-term as Ethereum’s ecosystem continues to expand.

Why this coin made it to this list? Arbitrum’s ability to tackle Ethereum’s scaling issues makes it an essential part of the blockchain ecosystem’s future.

Stellar, the Blockchain Simplifying Cross-Border Payments

Stellar (XLM) has been making waves in the financial sector for its ability to facilitate fast, low-cost cross-border payments. With traditional banking systems often slow and expensive, Stellar provides an alternative that’s both efficient and accessible. In late 2023, Stellar partnered with MoneyGram to enable direct USDC transactions, further solidifying its position as a leader in remittance technology.

Currently priced at $0.51, analysts believe XLM could climb to $0.40 in 2024 as demand for blockchain-based payment solutions grows. Its focus on financial inclusion makes Stellar one of the best crypto to hold for long-term gains.

Why this coin made it to this list? Stellar’s practical use cases in global payments make it indispensable for industries seeking efficient financial solutions.

Cardano, the Smart Contract Platform with Long-Term Potential

Cardano (ADA) is known for its research-driven approach to blockchain development. With its highly secure proof-of-stake mechanism, Cardano provides a scalable and energy-efficient platform for smart contracts and decentralised applications. In 2023, Cardano launched its Hydra protocol, which promises to improve transaction speeds and lower costs.

Currently trading at $1.05, ADA has long been seen as undervalued. Analysts project it could surpass $2 in 2024, given its ongoing upgrades and growing adoption. As a platform focused on scalability and sustainability, Cardano is undoubtedly one of the best crypto to hold for long-term growth.

Why this coin made it to this list? Cardano’s consistent development and eco-friendly technology make it a strong contender for long-term adoption and profitability.

Closing Thoughts: Five Coins That Could Redefine 2024

2024 promises to be a transformative year for the crypto space. Qubetics, with its groundbreaking QubeQode IDE, stands out for its practical applications and potential to deliver massive returns. Alongside it, Hedera, Arbitrum, Stellar, and Cardano offer unique solutions that address critical challenges in blockchain technology.

If you’re looking for the best crypto to hold for long term, these five coins deserve a place on your watchlist. With the $TICS presale about to hit stage 12, now might be the perfect time to act before prices rise. Explore these projects, do your research, and stay ahead in this rapidly evolving space.

For More Information:

Qubetics: https://www.qubetics.com/

Telegram: https://t.me/qubetics

Twitter: https://twitter.com/qubetics

 

Temu Becomes Most Downloaded App in Nigeria, Garnering Millions of Downloads

By
Ojukwu Emmanuel
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0

Chinese e-commerce giant company Temu, known for its low pricing, has soared to the top of Nigeria’s Google Play Store and Apple App Store, becoming the country’s most downloaded app with over 500 million Android downloads.

Temu’s millions of downloads come after the company entered the Nigerian e-commerce market last month. This move is expected to shake up the existing landscape and offer consumers a new shopping experience focused on affordability and convenience.

Millions of Nigerians have flocked to Temu, attracted by its affordable products and aggressive marketing campaigns. This surge in downloads highlights the growing demand for affordable online shopping options in Nigeria.

The company’s rapid ascent to the top of Nigeria’s app charts underscores its disruptive potential in Africa’s burgeoning e-commerce market. The continent’s online shopping sector is poised to exceed $75 billion by 2025.

Also, Temu’s meteoric rise reflects its aggressive marketing and strategic entry into a thriving Nigerian Commerce market. Data from Similar Web reveals that Temu is the leading app in both app stores. On Google Play Store, OPay follows in second place, with Crypto Mayors and WhatsApp tied for third. The company’s rapid growth is no coincidence, as its success is fueled by a relentless advertising blitz, which has resonated with Nigerian consumers inundated by its marketing campaigns.

It reportedly spent a staggering $1.3 billion on Meta ads between January and November 2023, marking a 1,000% year-over-year increase. Social media accounted for 76% of this spending, while 13% went to other forms of advertising. In the US, the company spent $3 billion in 2023 on online advertising for its e-commerce marketplace. Notably, in just 1.5 years, Temu surged from $3M GMV in 2022 to $3B in 2023, claiming a significant share of Amazon’s market.

Despite a costly customer acquisition, Temu’s strategy effectively boosts user engagement and data collection, fueling further expansion. Launched in 2022 by PDD Holdings, the parent company of Chinese eCommerce giant Pinduoduo, has built its reputation on offering affordable products directly from suppliers.

This low-cost appeal gives it a competitive edge, particularly in Nigeria, where inflation and economic challenges have eroded purchasing power. Notably, Temu’s entrance into Nigeria signifies intensified competition for established players like Jumia, which has scaled back its marketing to focus on profitability. While Temu’s aggressive strategy positions it as a dominant force, questions linger about its quality of service, a critical factor in sustaining its momentum. The company’s Nigerian foray is part of a broader expansion strategy that has seen it enter 80 markets worldwide.

With a mix of low prices, bold marketing, and strategic market penetration, the company is reshaping Commerce dynamics in Africa.

As Nigeria’s e-commerce landscape continues to grow, Temu’s ability to maintain high-service standards will determine whether it can sustain its early success in a highly competitive market. While its success in Nigeria is yet to be fully realized, its entry is poised to ignite fierce competition, ultimately benefiting consumers through lower prices and improved services.

The company’s bold entry into the Nigerian market has shown existing retailers new possibilities in e-commerce. Also, its aggressive market push, smart data use, and global network management highlight new strategies and trends that could reshape the retail landscape and challenge established players in the years to come.

Growth Journey and Winning the Future

By
Ndubuisi Ekekwe
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0

It is Tekedia Mini-MBA Graduation Week. Join us tomorrow for the first lecture titled “Growth Journey and Winning the Future ”. After our co-learning process over the last 13 weeks, it is now time for execution. When we execute, we grow our businesses and careers.

Indeed, organizing and optimizing the pillars of people, processes and tools, to turn the elemental factors of production – knowledge, labour, capital and entrepreneurial vision – into products and services, in order to fix market frictions, is a journey to growth. Doing that consistently will help us win the business future.

Indeed, there can never be a GREAT company without a great product or service. We solved the equations of market in the last 13 weeks:

  • Innovation := invention + commercialization.
  • Great Company := Awesome Products + Superior Execution.

Tomorrow, I will connect all the elements, providing tools for us to take that journey to growth. Grow in your career. Grow in your business. Good luck.

Tue, Dec 3 | 7pm – 8pm WAT | Growth Journey and Winning the Future – Ndubuisi Ekekwe 

To join the next edition of Tekedia Mini-MBA, go here and beat the early deadline for discounts https://school.tekedia.com/course/mmba16/

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