What are you building? Remember: firms win by accumulating capabilities. From Google to Amazon, from Dangote Group to Indomie Noodles’ parent company, when companies accumulate capabilities, they operate in domains that generate higher value (usually upstream) compared with where most firms operate (usually downstream). Dangote Group can deploy massive assets and technical know-how in cement production, making it harder for new entrants and rivals.

JP Morgan has a balance sheet that is a “fortress” which means it is impenetrable and cannot fail. In other words, it has accumulated asset classes and clusters of resources that this bank can operate in ways no other global bank can.

When companies accumulate capabilities, they move to become category-kings which dominate their market and territories, through asymmetric competitive advantages on factors of production they have access to and utilize.

In this video, I explain how we can begin small (at the downstream level) and then transition to the upstream where more value is found in markets. It is about visioning and pursuing the best way to fix frictions in markets.

What do you think quitting means? Resigning from a job? Making a dramatic exit or even a dramatic exit speech?

Well, that differs from the situation at least 50% of the time. A more subtle and insidious trend is gaining traction in today’s workplace: “quiet quitting.“

Imagine a scenario where an employee, once enthusiastic and proactive, gradually becomes disinterested and passive. They no longer participate actively in team meetings, their productivity dwindles, and their once vibrant energy seems to have dissipated. They say “Yes sir” to everything without contributions and arguments. They are still at work, of course, but these days, they are doing enough to prevent them from getting fired. Their mind and spirit have already checked out despite physically showing up to work. This is the essence of quiet quitting – a silent departure from the job, often unnoticed until it’s too late. Quiet quitting refers to disengaging from one’s job and slowly withdrawing effort and commitment without overtly announcing an intention to leave. It presents unique challenges for employees and employers, and its implications for workplace productivity are immense.

Gallup’s 2023 State of the Global Workplace report surveyed 122,416 employed respondents over 15 years of age in more than 160 countries from 2022 to 2023. The report concluded that 59% of workers worldwide were “quite quitting.” Even more, it estimates that this quiet quitting is costing the global economy $8.8 trillion, or 9% of global GDP.

I find it most interesting that survey findings suggest that employees do not even realize when they have “quiet quit”. They fulfil their job requirements and do nothing more.

If you are an employee, recognizing the signs of quiet quitting within yourselves can be a crucial first step. It may manifest as a growing sense of disillusionment, a lack of motivation, or feeling undervalued or unappreciated. It is essential to take time to introspect and understand the root causes of these sentiments. Are there unresolved issues in the workplace? Are personal or professional growth needs being met? Are there issues of poor wages or a general lack of satisfaction? By identifying these underlying factors, employees can begin to address them proactively.

Moreover, open communication is vital. Rather than silently disengaging, you should strive to express your concerns and frustrations constructively. This could involve scheduling a meeting with their manager to discuss workload, career progression, or other relevant issues. By initiating these conversations, employees gain clarity for themselves and provide an opportunity for their employers to address any potential grievances before they escalate. Suppose after having this conversation, it becomes clear to you that there are not going to be any changes from your employer, or you still cannot picture a career future at the company. In that case, you can go ahead to plan your career move right away, instead of opting for quiet quitting. Your job should be free of the point in your career where you can get comfortable with doing the bare minimum.

Employers must remain vigilant and attuned to the signs of quiet quitting. It might take a dedicated HR professional to detect this, especially when the employer is very busy pursuing deals for the company. A culture of openness and transparency can really help you out here because if employees feel comfortable voicing their concerns without fear of reprisal, they will.

Have regular check-ins and performance evaluations to help identify any dips in engagement or productivity early on so that you can intervene before the situation deteriorates.If you notice any of these and need to discuss them with your employee, your tone should be more empathetic than vindictive.

As an employer, you should also strive to create an environment that fosters employee engagement and satisfaction. This could involve providing opportunities for skill development and career advancement, recognizing and rewarding outstanding performance, or simply fostering a sense of belonging and camaraderie within the team. Investing in employees’ well-being and professional growth can mitigate the risk of quitting quietly and cultivate a more motivated and productive workforce.

In addition to these proactive measures, employers should be prepared to address quiet quitting head-on. This may involve initiating honest and empathetic conversations with affected employees to understand the underlying reasons for their disengagement. It’s essential to approach these discussions with an open mind and a willingness to listen without passing judgment or jumping to conclusions.

Employers also need to be receptive to feedback and willing to implement necessary changes to address any systemic issues contributing to quiet quitting within the organization. This could involve reassessing workload distribution, improving communication channels, or reevaluating policies and procedures that may hinder employee satisfaction and engagement.

Addressing the quiet quitting phenomenon requires a collaborative effort between employees and employers. It’s not enough for employees to silently disengage from their jobs, nor is it sufficient for employers to disregard the warning signs. By fostering a culture of open communication, mutual respect, and continuous improvement, organizations can mitigate the risk of quitting and create a more fulfilling and productive work environment for all.

FASMICRO, as Africa’s only Intel Corporation programmable microprocessor certified knowledge partner, we are happy to announce that we’ve deepened capabilities to bring knowledge systems on Intel’s artificial intelligence solutions to our customers. We want you to build on Intel, and at FASMICRO, we will be around to support your technical vision.

For more than a decade, we have stood on the shoulders of a technical giant, and the excellence of Intel Corporation, and we have served companies and universities across Africa. As you move on your AI journey, FASMICRO is here to support your AI vision, on Intel technologies. Our team is available to travel to any part of Africa for your projects; they’re trained, and prepared for the promises ahead.

Visit the Intel website and see that we’re your partner for Africa region and we’ll always be here to provide support.

Ndubuisi Ekekwe

Founder and Chairman

Fasmicro Group

Africa Business Club (ABC) at The Johns Hopkins University – Carey Business School invites you to the 5th Annual Africa Business Conference at Johns Hopkins University on April 13th, 2024. This dynamic, in-person event at the prestigious Johns Hopkins Bloomberg Center in Washington DC will convene the brightest minds and most influential players shaping the future of the African continent.

Yours truly, Ndubuisi Ekekwe, a graduate of Johns Hopkins University Electrical and Computer Engineering Master’s and doctoral degree programs, will keynote the event. The theme is Africa’s Renaissance and I will be there in person.

In my presentation, I will explain how a new Africa could emerge through excellence which will ignite growth at scale. We’re in a global cambrian moment of entrepreneurial capitalism where new species of companies are evolving, transforming markets, with implications that will reshape the ordinance of economic systems. As these changes happen, how would trade be redesigned?

What could AI (artificial intelligence) do for Africa’s future, examining innovation, entrepreneurship and sustainable utilization of the factors of production? Come, let’s discuss…

You are invited.

Ndubuisi Ekekwe To Keynote 2024 Johns Hopkins University Africa Business Conference

Background on China-Africa Relations

Africa’s history has always been linked to that of Asian countries, China in particular. At the height of colonialism and the Cold War back in 1955, African and Asian countries gathered in Indonesia, Bandung to cement their strong bond against Western economic, political, cultural, security and technological dominance. Subsequent to the Bandung conference, the Non-Aligned Movement was formed in 1961, which caught up with the wave of independence of many African countries. Since the Bandung conference, Asian countries have been very active in Africa through bilateral trade, but also through multinational initiatives, such as participating in Africa’s security programs by sending peacekeeping troops to support Africa maintaining security in the continent. China has particularly done well among other Asian countries in their engagements in Africa. China has stepped into the breech where other Asian countries seemed to lose interest or hope by providing investment and taking up or merging up enterprises that have been abandoned. Since the turn of the millennium, China has significantly expanded its activities on the continent, its foreign assistance and investment in Africa has caught the international society’s attention, and China has decentered the West as Africa’s main economic and political partner. In the last few decades, China has increased its trade and economic cooperation with Africa. China’s fast-growing economic ties with Africa are attracting considerable attention globally.

Politically, Sino-Africa relations have experienced quick flight particularly since the turn of the 21^st century, especially starting with the establishment of the Forum on China Africa Cooperation (FOCAC) in the year 2000. The relations between the two entities have deepened and broadened on a number of facets covering investments, trade, diplomacy and cultural exchanges. Since its establishment 22 years ago, the Forum on China-Africa Cooperation has remained the essential platform on which Africa’s political, economic and socio-cultural relationship with China has continued to wax stronger. In fact, over the years, China has used the platform to engage with nearly all African countries. Like at every other FOCAC Summit, numerous promises and pledges have been made from China to Africa. For instance, at the 2015 and 2018 FOCAC Summits, China’s President Xi Jinping announced US$ 60 billion package for assistance and loans to Africa. In the 8^th FOCAC Summit, China once again  delivered over 1 billion vaccines against the Covid-19.

China-Africa cooperation, which mostly involves China offering foreign assistance (non-conditional assistance) or investments in Africa’s key sectors like infrastructure, agriculture and industrial collaboration, offered Africa unprecedented development opportunities, and helped many African countries join the international production chain as a value-added segment. By offering non-conditional aid to many African countries, China has presented a more attractive alternative compared to conditional Western aid, and China gained quite valuable diplomatic support from almost all African countries. With China’s financial support, African countries are transitioning from poor countries to developing countries.

However, China’s support to Africa or China’s engagements in Africa are often labeled in extreme connotations by some western media outlets as either being the best economic “Partner” that Africa has had since the post-colonial era or just the latest “Predator” coming to pillage Africa’s remaining natural resources. Allegations of racism have been as well rife both in China-Guangzhou and Africa-Nigeria. Why do media around the world, especially Western media, criticize China’s engagements in the continent? Is it because China has threatened Western countries’ interests in Africa or is it about the over-hyped debate about African countries’ high “external debt” problem? Some would argue that many of the critics are viewed from the prism of stereotype and willful twisting of allegations while others would say that behind China’s critics, China’s detractors and competitors are simply seized with envy and apprehension. For decades, China has been “crossing the river by feeling the stones” on the African continent and has avoided to follow Western countries development approach. Nevertheless, China is currently seen as a partner of choice as many African leaders reject China’s “Predator behaviors” allegations. Similar criticism has revolved around speculations such as China being “Neo-Colonialist or setting “dept-traps” to African countries.

Economically, in 2009, China displaced the United States as Africa’s largest trading partner; with a total trade topping $200 billion in 2020, and has equally assumed top slots as the most visible constructor and development projects financier in the continent. Since 2000, trade or economic ties has become the largest feature of the China-Africa relationship. Since 2001, the volume of trade between China and Africa has increased by a compound annual growth rate of 21%, reaching US$ 204.19 billion back in 2018, up from US$ 155 billion that was recorded in 2017; more than double the value of trade Africa does with its other major economic partners like India (US$ 59 billion), Japan (US$ 20 billion) etc.; reversing a multiyear slump and reaffirming China’s role as Africa’s most important trading and economic partner. China’s Foreign Direct Investment (FDI) annual flows in Africa increased as well from 2003 US$ 75 million up to 2018 US$ 5.4 billion. From 2018 to 2021, the growth rate of China’s trade with Africa remained high, and China has remained Africa’s largest trading partner. Over the past 20 years, China and Africa have developed close economic ties. Since the turn of the 21^st Century, China has increased its economic engagements with almost all African countries. In the last decade alone, China-Africa trade relationship, despite existing trade deficits, looks healthy and full of many promises.

In some ways, since the beginning of the 21^st Century, China-Africa relationship has become symbiotic. For centuries, China and Africa have enjoyed a time-honored strong relationship. In fact, China and Africa have been good political, economic and security allies. In 2013, China rolled out the Belt and Road Initiative, a multibillion infrastructure and trade investment initiative aimed at promoting greater integration and connectivity of Africa, Asia and Europe. The Belt and Road Initiative was presented internationally as China’s signature vision for reshaping its global engagements. According to the World Bank, the Belt and Road Initiative aims to strengthen infrastructure, trade, and investment links between China and dozens of other countries that collectively account for over 30% of global GDP, 62% of the world’s population, and 75% of known energy reserves. With China’s “Belt and Road Initiative” initiated by President Xi Jinping back in 2013 as well as China’s policy “Go Out” (???~Zou Chu Qu) overseas investments strategy, China’s economic footprint in Africa is undeniably growing. For instance, under the Belt and Road Initiative, many African countries witnessed unprecedented development in the form of roads, hospitals, stadiums and communication facilities, which made trade and commerce easier to undertake in Africa, improving African people’s well-being. At that, Africa is even being more attractive to other external investors like Russia, India and Brazil, which have seen themselves hosting similar Summits as FOCAC with Africa. In addition, as China has increased its engagements in Africa, its neighboring countries, especially Japan and India, have also responded by seeking new partnership with African countries. For instance, following the launch of the Belt and Road Initiative in 2103, Japan and India launched the Asia-Africa Growth Corridor Economic Cooperation Agreement with multiple African countries.

African countries’ strategic attitude toward the BRI

1. Fully be a part of the implementation of China’s Belt and Road Initiative

There are compelling reasons why Africa pivoted towards China in its quest for sustainable development. Economically, the continent remained deprived, despite its huge natural resource endowments. Politically, the continent had been sidelined from global affairs, driven mainly by the past colonial masters. Africa had no voice on international processes and actions that heavily impinged on its socio-economic transformation. Ideologically, Africa identified largely with China, given their unique historical backgrounds characterized by colonialism, and isolation from global economic structures. And this identical history background became one of the reasons why African countries were being even keen to participate in the Belt and Road Initiative, an Initiative that could help African countries generate more resources for economic growth and development in the continent. The Belt and Road Initiative is providing the continent great opportunities to build its infrastructure as well as develop its industrial capacity.

Since the launch of the initiative in 2013, African countries have demonstrated an interest in being part of the Belt and Road Initiative. In fact, in the last couple of years, most of African countries have signed with China the Memorandum of Understanding, which is somehow related to China and Africa’s rise in recent years. In one hand, China’s rise to become the second largest economy in the world after the United States intersected with Africa’s rise between 2002 and 2013, when six of the world’s fastest growing economies were in Africa. In another hand, Africa’s rise is driven by global commodity boom, especially with the high demand from China and other developing countries like India for oil and other commodities. Africa’s rise is also accredited to the signing of the African Continental Free Trade Area agreement by 54 African countries, which has given substance to the last-stated objective and positioned what would be the world’s largest free trade area by number of participating countries when operational. At that, Africa’s rise in recent years is in regard to China’s increased interests in the continent. Africa’s rise has also something to do with China’s development loans to Africa, the role of China in building and rehabilitating African infrastructure in the areas of transport and power, and technology transfer.

2. Hard times brought African countries once again stand aside China in pushing forward the BRI

Ironically speaking, the Covid-19 became one of the reasons why African countries consider standing behind China in pushing forward the Belt and Road Initiative. The global health challenge has no doubt drained many countries economically. The global north, which could have provided an alternative financing to Africa was deeply affected economically. After the pandemic, the main concern in the western economies was to turn inside for economic reconstruction. Only China, which has proven its effective response to the pandemic, including a return to industrial activity,  extended to Africa the financial assistance to rebuild.

The Covid-19 pandemic provided a strong platform for collaboration between China and Africa. Beijing has been active in sharing its disease control experience with African countries. A total of over 44 African countries have also received infectious disease experts from China, to help with pandemic management. China has equally donated essential commodities including face masks, personal protective clothing, and ventilators to all African countries. As a top trading partner, investor, constructor, and development projects financier for the continent; China-Africa cooperation was not stymied by the pandemic. Instead, it acted as a force multiplier for the cooperative arrangements between Beijing and various African capitals. Before the pandemic, different African countries were already implementing a number of infrastructure projects under the purview of the Belt and Road Initiative. These projects are aimed at catalyzing socio-economic activities and the integration of the continent. As Africa rises from the pandemic, the need to create a functional economy will be overwhelming. Africa will need the industries and businesses to create more jobs, including those lost during  the pandemic.

China has been the biggest partner of Kenya in the fight against the Pandemic since the new cases were found on the continent. Having come out of the grip of the virus ahead of other countries, China shared its critical epidemics control experience with Kenya; leading to early steps in containing the virus in the country. China has also been the main source of essential commodities needed in the management of the pandemic – ranging from drugs to face masks, personal protective equipment for the health workers, and the ventilators needed to care for critically ill patients. Much of these came in as donations in three trenches, signaling to the Kenyan public the essential role and commitment that China has demonstrated towards the country at the time of need. Such gestures have opened ground for additional cooperation between the two countries.

3. Smooth development and promises brought through the FOCAC

The 7^th and 8^th Forum on China-Africa Cooperation (FOCAC) held in September 2018 and 2021 in Senegal  opened a new chapter for African countries fully participating in the implementation of the Belt and Road Initiative, targeting to boost the development of African participating countries in a targeted manner. The summits adopted the “Beijing Declaration Toward an Even Stronger China-Africa Community with a Shared Future” and “the Beijing Action Plan (2019-2021)”. These two initiatives pointed China and African countries in the right direction for their mutual cooperation. For instance, during the 7^th summit in Beijing, China’s President Xi Jinping pledged financial support of US$ 60 billion, adding to the same amount that was pledged in the previous FOCAC summit in South Africa in 2015 to support Africa’s development. Africa’s development has since been linked to the BRI.

East African countries, especially Kenya, have shown a strong interest in moving ahead of other East African countries by fully participating in the Initiative. Kenya became a key partner of China in the actualization of the Belt and Road Initiative given its geographical location advantage. Kenya is currently at different stages of implementing a number of Belt and Road Initiative projects; slated to open up the East and Central Africa region through infrastructure connectivity. Kenya’s former President Uhuru Kenyatta as well as the new President Ruto both have been  strong supporters of the Belt and Road Initiative. Through the partnership with China, Kenya has registered a number of infrastructure projects such as the Standard Gauge Railway, running from the port city of Mombasa to the administrative capital, Nairobi. During the 2017 Belt and Road Forum held in Beijing, former President Kenyatta said that the initiative is the best model for Africa’s socio-economic transformation; reflecting the increased ideological affinity between Africa and China, beyond trade and investments. Former President Kenyatta’s sentiments would later manifest among the broader Kenyan population when a 2018 survey, by Ipsos, for the first time, revealed that regarded China as the leading development partner, polling 34%. United States, South Africa, and Britain polled as No.2 (26%), No. 3 (5%), and No.4 (4%) respectively. The favorable public opinion and attitude of the Kenyan public towards China can also be gleaned from the Pew survey of December 2019. From the polls, 68% of Kenyans view Chinese economic growth positively; and 60% welcome Chinese investments in the country.

What can China do to promote a smooth implementation of BRI Projects in Africa?

• China should debunk the debt trap myth by emphasizing the positive socio-economic outcomes of the BRI projects already implemented. In Kenya for example, China should bring more attention to the projects that its implementing, and if necessary, invite western media to come and see the projects themselves.
• Critically ascertain the viability of the proposed BRI projects by different African countries in order to avoid  vanity projects.In Kenya, the Mombasa-Nairobi Railway, for example, is by far the most successful project in Kenya and in East Africa. Later, China can use this successful railway example to design more and better development projects.
• Promote diffusion of technologies and industries alongside the BRI projects to spur job creation and economic development.

What African countries can do to promote a smooth implementation of BRI Projects on the continent

• Astute investment policies, especially the ones that are aligned with the continent’s Agenda 2063. In Kenya for instance, the country has its development projects, and the projects in someways are aligned with the Agenda 2063.
• Make sure to maximize the opportunities brought through the BRI to build the infrastructure that the continent desperately needs.
• Africa must hold China to its promise and get the best from it. For instance, China has promised to advance industrial capacity on the continent. As the FOCAC Beijing plan Plan (2019-2021) states, it is imperative that China and Africa make best use of industrial capacity cooperation mechanisms to achieve tangible results from various projects. By inference, the instrumentality of the BRI should help Africa to develop technology.