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Women’s Footballers Protest Aramco’s FIFA Sponsorship

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The recent protest by women’s footballers against FIFA’s sponsorship deal with a Saudi company has sparked a significant conversation about the intersection of sports, ethics, and corporate sponsorship. Over 100 players, including prominent figures like Becky Sauerbrunn and Vivianne Miedema, have signed an open letter expressing their concerns over FIFA’s partnership with Saudi oil giant Aramco.

The players’ protest highlights a clash of values, questioning the compatibility of a sponsorship that they feel contradicts FIFA’s commitments to human rights and environmental sustainability. The letter calls for FIFA to seek alternative sponsors whose values align with gender equality, human rights, and the safe future of our planet. This action by the players is a powerful statement in the sports world, where athletes are using their platform to advocate for social and ethical issues.

The controversy stems from the perceived contradiction between the values promoted by women’s football—such as inclusivity, equality, and community—and the practices of the sponsor in question. The players’ stance is not just about a single sponsorship deal; it’s about the broader implications of such partnerships on the sport’s integrity and the message it sends to fans worldwide.

FIFA’s response to the protest has been to affirm the value of its partnership with Aramco, emphasizing that commercial revenue is reinvested into developing women’s soccer. However, the players’ letter urges FIFA to consider the ethical implications of its sponsorship deals and to involve athletes in these discussions, ensuring that the sport’s governing body remains true to its stated commitments.

Controversial sponsorships in sports have often sparked debates and discussions about the ethical considerations of such partnerships. Here are a few examples that have raised eyebrows in the past:

Lance Armstrong and Major Sponsors: Lance Armstrong’s fall from grace after doping allegations led to a significant controversy involving his sponsors, such as Nike and Budweiser. The scandal highlighted the risks sponsors take in aligning with athletes who may fall into disrepute.

Netball Australia and Hancock Prospecting: Netball Australia faced backlash over a sponsorship deal with Hancock Prospecting, owned by Gina Rinehart, due to past comments made by Rinehart’s father about Indigenous Australians and Rinehart’s stance on climate change.

Bizarre Sponsorships: CBS News reported on some of the most bizarre sports sponsorships, which include unusual stadium names and bowl games, showcasing the lengths to which companies will go to get attention. These instances demonstrate the complex nature of sports sponsorships and the need for organizations to carefully consider the values and messages they endorse through their partnerships.

This situation raises important questions about the role of athletes in governance and decision-making within their sports. It also underscores the need for sports organizations to balance commercial interests with the values and principles they espouse. As the conversation continues, it will be interesting to see how FIFA and other governing bodies address these concerns and whether this will lead to a reevaluation of sponsorship strategies in the future.

The players’ protest is a reminder that sports can be a powerful platform for change, and athletes are increasingly willing to take a stand on issues that matter to them. It’s a call to action for organizations to listen to their athletes and align their practices with the progressive values that they promote.

Tekedia Institute To Unveil A New Ecosystem To Unify Knowledge and Market for Quality Business Education

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Hello,

Greetings! Let me begin by thanking you for your partnership over the years in Tekedia Institute. When we started this school, our vision was to unify knowledge and market, and in the process make scholars noble, bright and useful. Simply, we want to see how new knowledge will accelerate the ability to turn ideas into products and services, in big, small and new companies. To a large extent, we are on track…

Yes, more students and learners attend Tekedia Institute’s programs yearly than any university in continental Africa. We work with schools, companies and even governments; just a few days ago, we received the u-inspire award to co-learn with the University of Ilorin community (read news here).

But what if I tell you that better things are coming? Indeed, we will unveil an ecosystem to deepen that interface of knowledge and market. Here are some features coming:

  • Digital Marketplace: .we will provide you an ecosystem to sell digital products. Many of our co-learners have produced great capstone reports and this ecosystem will enable them to monetize those.
  • Business Tools: We will provide you software business tools like bookkeeping, inventory management, etc, to support any venture your knowledge has enabled.
  • eVault Custodial: Many of our co-learners lose their certificates and keep asking for replacements. We will provide an ecosystem to store and preserve vital personal, family and business materials like MOUs, certificates, etc.
  • Business Gaming: You will deepen your managerial and business skills by playing our business games.
  • Deeper Academic Festival:  our courseware will get better.

Of course, Tekedia Capital which invests $millions yearly on startups around the world remains. We’re the only school in Africa with an investment unit, making it possible to fund great ideas of the future. It is a massive symbiotic relationship where the knowledge we create, distribute and assimilate helps us to understand better the world of opportunities.

We’re Tekedia Institute and our product is knowledge. We thank you for the support and welcome you into the future. Once the ecosystem is launched, we will update you; stay with us because without you our academic festival will be boring. 

Regards,

Ndubuisi

Tesla’s Cybertruck Ranks Third in US EV Sales For Q3 2024, Outpacing Ford And Rivian

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TEHRAN, IRAN - JULY 19: (RUSSIA OUT) Russian President Vladimir Putin leaves his presidential plane during the welcoming ceremony at the airport, on July 19, 2022 in Tehran Iran. Russian President Putin and his Turkish counterpart Erdogan arrived in Iran for the summit. (Photo by Contributor/Getty Images)

Tesla’s Cybertruck has reportedly emerged as the third best-selling electric vehicle (EV) in the United States for the third quarter (Q3) of 2024, outperforming every other EV on the market.

According to Cox Automotive estimates, Tesla sold nearly 17,000 Cybertrucks in Q3, trailing only the Tesla Model 3 sedan and Model Y SUV. This puts total Cybertruck sales for the year at over 28,000 a figure higher than Ford’s F-150 Lightning, Rivian’s R1T, and Chevy’s Silverado EV.

In comparison, Ford only sold about 7,000 F-150 Lightnings and 13,000 Mustang Mach-E SUVs in the same period. Rivian delivered just 3,800 R1T pickups. GM, despite early success with its Blazer and Equinox EVs, managed only around 32,000 total EV sales last quarter.

Tesla acknowledged this achievement in its Q3 financial results, confirming a positive gross margin for the Cybertruck. The company generated $25.2 billion in sales and $2.2 billion in profit, with $739 million coming from regulatory credit sales. Additionally, Tesla began shipping its “Actually Smart Summon” feature and Full Self-Driving (Supervised) software to Cybertruck owners, allowing the company to recognize some upfront revenue.

In total, Tesla delivered 166,923 vehicles in Q3, capturing 48% of the 346,309 battery-electric vehicle (BEV) sales in the US. However, this marked the first time Tesla’s share of the US BEV market dropped below 50%. While Tesla continues to soar, hydrogen fuel cell vehicles have struggled to gain traction, with only 73 Toyota Mirai and 26 Hyundai Nexo models sold in Q3 2024.

The Cybertruck’s success is a testament to Tesla’s innovative design and strong brand appeal. Recall that during the launch in December last year, Tesla fans criticized the vehicle’s range and price, with several saying that they were reconsidering buying the Cybertruck after the underwhelming launch.

Despite its polarizing appearance and high price point, it has so far resonated with consumers seeking a unique and powerful electric vehicle. Meanwhile, traditional automakers like Ford and General Motors have struggled to gain traction in the electric vehicle market. The Cybertruck’s strong performance highlights the difficulties major automakers are facing in attracting customers to their electric offerings.

While it is not clear if the uptick in Tesla cybertruck sales will continue on an upward trajectory, Goldman Sachs analysts reckon that in 2025, Tesla will deliver 150,000 Cybertrucks. Wedbush sees 230,000 being sold that year. Morgan Stanley sees only 78,000 Cybertrucks being sold in 2025, for a total of just 108,000 vehicles over the next two years.

As the electric vehicle market continues to evolve, Tesla’s Cybertruck remains a standout. Its success highlights the company’s ability to innovate and meet consumer demand, while also posing a significant challenge to traditional automakers.

Tekedia Capital Dealroom is Open, Oct  2024 Cycle Ends on Nov 10, 2024

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Hello,

Greetings! The Demo Day went great and all the 15 companies participated. The video of the proceedings is available here when you login https://capital.tekedia.com/lesson/active/ .We have since opened the deal room for investments. Go ahead and make payments and let us know the startups you plan to invest in.

For members who have already paid and shared their startup distributions, we will be sending the Master Agreements from tomorrow. 

Nov 10, 2024 is the final date of this cycle. That means that is the last day for payment and participation. Please plan accordingly.

Regards,

Tekedia Capital

Good People, out of these 15 companies, a tech unicorn could be born. We invite you to join our Syndicate here and co-invest with our members.

International Monetary Fund (IMF) Lowers Growth Projection on Germany

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The International Monetary Fund (IMF) has recently revised its economic growth forecasts for Germany, indicating a more cautious outlook for the country’s economy. This adjustment comes amidst a complex global economic landscape, characterized by various challenges and uncertainties.

According to the latest reports, the IMF has reduced its growth projection for the German economy to just 0.8% for the upcoming year, which is a 0.5 percentage point decrease from its previous forecast. This revision aligns with the German government’s own forecasts, which anticipate a contraction of 0.2% in 2024, down from an earlier expectation of 0.3% growth.

The downward revision by the IMF reflects a broader trend of stagnation within some of the world’s largest economies. Germany, in particular, is set to experience zero growth in 2024, a stark contrast to the recovering economies of other G7 nations. This stagnation is attributed to persistent weaknesses in manufacturing and structural challenges within the economy, including aging demographics, underinvestment, and regulatory hurdles.

In response to these challenges, German Economy Minister Robert Habeck has proposed a “Germany Fund,” aimed at boosting investment and modernizing the nation’s infrastructure. This initiative represents a significant shift from Germany’s traditionally restrictive budget policies and could potentially stimulate economic activity.

The transition to sustainable energy sources is a pressing issue for the manufacturing industry, which has traditionally relied on large quantities of conventional energy. The shift away from fossil fuels towards renewable energies like wind, sun, or geothermal energy requires substantial investment, especially in storage technologies. Achieving carbon neutrality is a critical goal for the manufacturing sector. This involves developing technological solutions for decarbonization and reducing reliance on fossil fuels.

The need for transparent and sustainable supply chain networks is more pronounced than ever. Manufacturing companies must evolve into data-driven organizations to manage this aspect effectively. A growing concern is the shortage of skilled workers, which poses a threat to the sector’s ability to compete globally and maintain its innovation capacity.

The changing landscape of global competition policy, including the trend towards decoupling, necessitates a reorientation of many business models within the manufacturing industry. Rising energy costs and interest rates have increased operational costs and dampened investment, exacerbating the sector’s existing challenges. Ongoing supply chain issues, partly a legacy of the COVID-19 pandemic, continue to hinder production and distribution processes.

The automotive industry, a key segment of German manufacturing, is undergoing structural changes with the shift from combustion engines to electric mobility, presenting both challenges and opportunities. Germany’s dependence on global markets exposes it to risks such as protectionism and fluctuations in international demand. Critics argue that Germany invests too little and could do more to foster innovation and modernization within its industrial sector.

Addressing these challenges will require concerted efforts from both the industry and the government to implement reforms, invest in new technologies, and adapt to the evolving global economic environment. The “Germany Fund” proposed by the Economy Minister is one such initiative aimed at stimulating investment and modernizing infrastructure to support the manufacturing sector.

The IMF’s revised forecast also highlights the need for ambitious reforms to address Germany’s real challenges, such as aging, underinvestment, and excessive bureaucracy. These issues, if not addressed, could hinder the country’s economic potential and long-term growth prospects.

As the global economy continues to navigate through a period of uncertainty, the case of Germany serves as a reminder of the importance of adaptability and proactive policymaking. The country’s ability to implement effective reforms and stimulate investment will be crucial in overcoming the current economic headwinds and setting a course for sustainable growth.