DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 3728

How to Produce More Start Ups from Nigerian Universities

0

Faisol is my friend. I met him while he was in 200 Level. Cool. Calm. Collected. He is a reflection of an undergraduate son I would love to have. He is gentle but brilliant and hardworking. I still remember the first day I signaled to him to see me at the university mosque after one of the prayers. I enquired about him. His background. His academic standing.  And that was how we struck a friendship. Once in a while when I met him on campus, I would ask him how he has been faring with his academics. To a very large extent, I have been satisfied with his reported performance.

I became more interested in him when I learnt that he has been running an online boot camp teaching people all across the world in digital and soft skills. He tagged it Digital Skills Boot Camp.  He told me how 4000 people from 13 countries in Africa (Botswana, Ghana, South Africa, Somalia, Zimbabwe etc.) and even Qatar had been past beneficiaries of his passion to share knowledge. I was so impressed that a 19-year-old man could have so discovered his purpose and started fulfilling it even before his university admission. And now that he was on campus, he recruited more of his friends and colleagues to help him achieve his ambition. His gentle mien would not betray such greatness is deposited in him. And he is living it out, on and off campus.

One Wednesday morning earlier this year, I saw Faisol AbdulAkeem at Opolo Global Innovation Hub at Osun State University, Osogbo Campus. I was surprised. On enquiries, he told me he was there to seek information about what it takes to book a space for a brainstorming session with his team. He said he was working with others to float a company to further his objectives of making impact at a higher level. And that announced the birth of Skeeli Africa.

According to him, Skeeli Africa is a digital learning platform whose major aim is to give equal access to promising talents by being a medium through which relevant entry level, digital skills are acquired, improved on, and seamlessly adapted with new technologies. He said the idea came up when he and his team noticed an increasing gap in how new technologies are adapted with current skill sets. He noted that tech industry has become the new oil boom for young men and women. He said his team was aiming at answering the question: how do we help others who do not have the flair for writing codes thrive in their respective fields?

While I congratulate Faisol AbdulAkeem and his team on this new project, I kept musing on if the Nigerian University System has a support structure for young entrepreneurial minds like Faisol. As a young aspiring entrepreneur, he requires support of all kinds- ideation, incubation, product development, funding and scalability. Tell me a university in Nigeria that has that support system on campus. Maybe one or two. Instead many Nigerian universities run the so called entrepreneurship programmes that are heavily focused on vocational skills. We run a university system that trains students on bead making, liquid soap making, tailoring and other vocational skills that one does not need to get to a university to learn. It does not make sense to me. Besides, when the students have learnt the skills, who helps them to navigate the terrain of commercializing the skills, good and services.

Maybe, there was a time those skills were useful. But, this era calls for a more innovative approach to skilling the undergraduates. One, those taught skills do not have the potency to create employment on a larger scale. You see one or two individuals going forward to make sense of and become financially independent through them. Those skills do not have the potency to affect the unemployment rate at scale.

Now, fees are rising without corresponding increase in the value of the education given to the students who are the subscribers. Such kind of increments are business as usual. My thesis is that the institutions should make the education offered comprehensive and effective such that no one graduates without a job. The current educational playbook cannot and will never guarantee that.

Let us tie the entrepreneurship curriculum to either the courses students are subscribed to in the universities or by interest. If I am given admission to read French, teach me proficiency in the language and let me know the business aspect of it. If I go for Political Science, what skills are inherent in this course that I could offer and gain values. If I am a graduate of Computer Science, I should know its adjoining digital skills and should be put on the path that would lead me to making money right from the campus. If I am a banking and finance student, should I not know how to use Fintech to build digital financial funnel for my own local community.  My recent experience shows me that universities in Nigeria do not realise that students pass through their entrepreneurship programmes to fulfil all righteousness. Not because there is really something worthwhile to gain. For those, like Faisol, and I know some of them on campuses I relate with, they are finding their paths to their vision and mission without a support system. The Obafemi Awolowo University is renowned for the thriving startup ecosystem on her campus, how many of these startups that gained traction and scaled did the university deliberately produce? What acknowledgement did Babcock University get for producing Paystack’s founders?  Was it not “we met on campus” mention the university got for producing Ezra and Akinlade who sold their startup to an American company for N76 Billion.

So, what do the Nigerian universities have to do to ensure they improve their profile of producing startups with the potential to become unicorns? The former Vice Chancellor of Bowen University, Iwo, Prof. Joshua Olalekan Ogunwole, in his exit interview in Guardian newspaper gave this golden advice to Nigerian universities on entrepreneurship:

“At the university level, you cannot be talking about entrepreneurship and you are buying sewing machines and whatever for the students. Do that to them at the secondary school or primary school levels. At this tertiary level, you want to raise entrepreneurs who affect the world; who would make global impact and have national relevance. You cannot begin to introduce certain specific skills and say this is what they should know.

What we are saying is this: teach the students under entrepreneurship how to take care of an idea, work on the idea to be an innovation and take all the process so that they can either commercialise it, start up a company with it or whatever. That’s how we see great minds work all over the world. So, university should not be talking about entrepreneurship in the context of wanting to learn confectionery, wanting to be mechanics; universities should be beyond all that.” So, the first step is to admit that the current entrepreneurship programmes are neither relevant nor appropriate for the knowledge economy.

The second and very important point to take note is the advice captured in Adam Adeiza’s reflections on his visit to Covenant University in a 2019 article in Business Day. First, he addressed the philosophy of Covenant University entrepreneurship ecosystem. He observed that “the CU’s entrepreneurship ecosystem has two major components – talents development and incentives.”  He proceeded further to pick the thinking at the heart of the university’s entrepreneurship programme. He wrote:

“They have this philosophy that their students must be so molded that they don’t go back to their parents for anything after graduation. At the heart of CU’s curriculum are development of entrepreneurial mindset and great attitude in students. They don’t necessarily want everyone to be business owners but they do want to make sure that those who would rather work for others are job-ready and that they possess the attitudes that not only attract high-quality jobs, but also ones that keep them in the job when they do get one.” He also said “the university introduced CU Developer Circle, one of the most thriving in the country, where students acquire high premium digital skills that help them unlock Silicon Valley-like jobs while in school. This is also the driving philosophy behind their popular TTG (Towards a Total Graduate) program, where students are mandated to spend few extra weeks immediately after graduation learning critical attitudes, resume development, how to ace an interview, work ethics, being a productive worker, making a difference in the community and so on.”

He was not done yet. He equally identified further the university’s thinking on teaching entrepreneurship. He noted that at the university, “teaching entrepreneurship is more like saying: ‘you can give what you have’. With this, entrepreneurship is not necessarily taught, it’s inspired by people who are travelling the same road. Second, students ‘Get Out of the Building’ a lot, to try their hands on real-life businesses and projects. Finally, On the incentive side, several supporting infrastructures are on ground for both students and faculties to think and act entrepreneurially: free high-speed wifi, a startup lab, regular reward-driven business model competition, institutional facilitation of access to markets and finance as well as sponsorship to Accelerator programs for startups looking to scale.”

Moving forward, the Nigerian University System has to change philosophy, direction and delivery of its entrepreneurship programmes. Nigerian universities, especially as they all warm up to increase their subscription fees, should learn how to manage the abundant talents that are on their campuses and nurture them to become globally relevant startups with high valuation. Doing this will make them produce graduates that could solve national, continental and global problems.

 

Letter of Administration: Reclaiming The Assets of a Deceased Who Died Intestate

0

A client was in my office last week and the matter he brought before me was that his father who happened to be a very wealthy man recently died but the core issue is that the man died without leaving a will behind ie the father died intestate. He was seeking legal advice on how to go about reclaiming some of his father’s wealth since there was no will deposing the wealth on him. 

In instances like this, the way to go about it is for the next of kin or the ward of a deceased person who died intestate to claim some of the riches of the deceased is for the person to approach the court or the probate registry for a letter of administration.

A letter of administration is the formal and written authorization given by the Probate registry of a Court to a person known as the administrator (male) or administratrix (female) to oversee the assets of a person who died intestate. This person referred to as the administrator or administratrix of the deceased could be the wife, child, husband, parents, or even the creditor of the deceased. The applicant of the letter of administration only needs to prove through relevant documents and attestation that there is an existing relationship be It cordial, blood or business relationship between the deceased and the applicant. 

A person who dies without a will is said to have died intestate. The state’s intestacy laws determine who will inherit the decedent’s assets. The state takes responsibility for dividing up the assets among the descendants via a probate court. 

A will is a set of instructions about how you want your property to be distributed after you’re gone. If you don’t have a will, your state has intestacy laws that will determine who will get your property. 

Typically, the takers are relatives of the decedent. For example, in Pennsylvania, the surviving spouse is generally entitled to receive at least one-third of the decedent’s estate if there are descendants of both spouses that survive him or her. Otherwise, they can receive up to one-half. 

An intestate estate can also be one in which the will presented to the court was deemed to be invalid

Before the letters of administration are awarded, the properties of the deceased are presumed to be vested in the Chief Judge of the State, especially the state where the deceased was a  resident before dying. The authority is then relinquished from the judge to the applicant after the application is granted. 

The essence of obtaining Letters of Administration is to gain official or judicial authority to be able to manage the assets and funds on behalf of the Estate of the deceased. With this document, the holder can access the deceased finances and the other properties and most importantly make management decisions accordingly. The Letters of Administration will also grant the holder the right to legally delegate assets and funds to relatives of the deceased.

The following persons are legally eligible to apply for a letter of administration over the assets of a deceased person. 

  1. The spouse of the deceased 
  2. The child or children or grandchildren of the deceased
  3. The Parents or parents of the deceased
  4. The siblings of the deceased and/ or their children
  5. Grandparents of the deceased
  6. Uncles and aunts of the deceased
  7. Creditors of the deceased
  8. Office of Administrator-General of the state can also apply 

The application for a letter of administration by any of the above persons is made directly to the office of the probate registrar and other relevant documents like the death certificate of the deceased are to be attached to the application.

To Succeed in Blockchain Participation, Readiness is Key

0

The degree of one’s vision as it relates to the ascent to the zenith level is dependent upon preparation. The major stream is that being prepared in any area you’re in is a factor in growth. Opportunities are essential to our survival, just like air. Because of a crucial relationship that keeps both in the spotlight, there would be no interaction between human nature and vegetative nature if there was no oxygen. Both help to ensure its survival. This simply indicates that no matter what topic you examine, there is important knowledge that actually affects people’s lives or their level of financial affluence. The key to success is preparation.

Today, I’ll outline the key arguments and motivations for why a person should adhere to the requirement of self-readiness in the Blockchain realm as a user of Blockchain technology. Humans frequently use what is profitable to us without considering the consequences. In order to build and retire, we use and reuse. But the question is: Are you prepared to profit from Blockchain technology or the stock market? To start getting ready to take part in a crucial notification or update from space, it is important to start storing important information in our brains.

Tips for getting ready for the latest stock market and cryptocurrency news
I’ll highlight several key techniques to actually make money in the following market updates:
This is not a brand-new summary or highlight; it has existed for a long time. Nevertheless, we continue to spread the important message of educating users who are interested in adding value to it in the course of growth.

The appropriateness of the cryptocurrency setup for participation
1: Open a Binance account: User-Friendly Interface Equipped with a Powerful Charting Engine. No Overloads Guarantee. Binance The World’s Leading Assets Platform. Join the Binance Community now. Discover Binance Now. Fast and Reliable Trading. Simple & Convenient. Low Fees, High Profits. A controlled cryptocurrency exchange, Binance operates a 24-hour trading floor. As long as a coin or token is listed on the Binance platform, anyone can trade it. The polka-dot quiz, which surely pays individuals who participated and gave the correct answer, is currently being bombarded with news and information from every outlet. It is necessary to verify your Binance before you can join or trade. Verify your Binance account, please.

2: Set up a Bybit account: Bybit is a cryptocurrency exchange founded in 2018. Bybit is headquartered in Dubai, United Arab Emirates. In the global market, Bybit and Binance offer similar types of services, but uniqueness is always remarkable, and development psychology and physiology can never be identical. Prepare your Bybit account.

Get ready with your decentralized account
A decentralized wallet is a cryptocurrency wallet that enables users to hold their private keys on their own, ensuring they have complete control over their digital assets. The main goal of such a wallet is to completely eliminate any involvement of a third party to permit peer-to-peer (P2P) transactions.

However, decentralized accounts or wallets are ones that you use privately and that enable anonymous transaction processing at any time, without restrictions or rules. Blockchain is a decentralized system, not a centralized one. Many policies are present in centralized areas. The person using this service (decentralized protocol) is the risk taker in this procedure. These are only independent means. You must download the decentralized wallets listed below to stay up to current on blockchain developments.

1: Metamask: MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications.

2: Trust wallet: is the best Ethereum wallet and cryptocurrency wallet to store your favorite BEP2, ERC20, and ERC721, tokens. Download the Android Trust Wallet…

3: Coinbase: Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work. It is the largest cryptocurrency exchange in the United States by trading volume.

4: Phantom: is a digital wallet reimagined for DeFi, making it safe and easy to store, send, receive, collect, and swap tokens on the Solana blockchain.

Before doing anything else, one must set up these important tools. Second, don’t just set it up and walk away from it. This time, you’ll need to take precautions by keeping up with local news and updates on testnet, node, and airdrop activities like trading. Funding your centralized and decentralized accounts is crucial in case an opportunity arises again. Sincerity demands that you start someplace and follow directions in order for testimony to occur.

For mobile users that want to participate in testnet but are unable to do so because of Chrome’s limitations
Now that you know, keep in mind that layer 3.0 is not included in the standard Chrome browser, therefore it is incompatible with the testnet protocol. Please visit the Google Play Store and download the Kiwi browser if you are a smartphone user and want to participate in testnet protocols.

1: Install the Kiwi browser, then sign in with your current Google account or You can make one if you want to.

2: Enter “meta mask extension” in the search field by clicking. Click “Add” after selecting the top result.

3: If the user already has an account, please enter your seed phrase. If not, please register an account and record your seed phrase, which acts as a powerful security measure to safeguard your resources.

4: Make a strong password to guard the wallet from unauthorized access.

5: This straightforward technique is comparable to making any other wallet in the market.

Can I use my smartphone to participate in testnet nodes?
The two types of blockchain setups use CPU and GPU nodes, respectively.
However, there has been much discussion about how/what method to use to join a blockchain node using a smartphone. The setup to take into account before joining any Blockchain network node is listed below.


termius.com
1: Kindly download Termius from the Google Play Store, Bash- and Terminus both share a similar nature.

2: Purchase an IP address because it is necessary for the setup of a GPU node to have one.

3: By using the command lines to configure the node, adhere to and apply the network documentation testnet node.

Users of laptop
Please adhere to the instructions and make sure your IP address is always available.

In conclusion, find out the primary goal of blockchain ethics by studying Dapplab Please click the thing that motivates the writer to continue doing what he enjoys.

Please subscribe to the Dapplab Telegram channel for more blockchain news. In addition, follow Dapplab X handle.

Support For Small Businesses: Nigeria Plans to Re-Introduce The TraderMoni Scheme in November

0

The Federal Government of Nigeria has announced that it would re-launch the TraderMoni scheme in November 2023, to provide support for small business owners in Nigeria.

In contrast to previous phases where small business owners received N10,000 from the previous administration, each beneficiary will now receive a larger sum of N50,000 to boost the growth of their business.

This was confirmed by the Minister of Humanitarian Affairs, Dr. Beta Edu. She said,

“Now for the first set, which we are commencing in November, we are selecting one prominent market per senatorial district, totaling 109 markets. We will actively engage traders within their shops in these markets.

“It’s a substantial N50,000 to bolster their businesses. We are not influenced by party affiliations or personal interests. We enroll them in the market, simultaneously creating a bank account for them during the enrolment, and the funds are directly transferred from the CBN account”.

Minister Betta further clarified that the re-launch of Tradermoni is not in any way politically motivated, emphasizing that the present administration is dedicated to improving the lives of Nigerians.

In her words,

“Well we don’t have elections right now. As we initiate the Renewed Hope GEEP Program, we are focused on governance, not politics. This is the essence of President Bola Ahmed Tinubu’s leadership”.

The TraderMoni Scheme

TraderMoni is a Government Enterprise and Empowerment Programme (GEEP) Initiative created to boost the Nigerian economy through leverage and access to finance for petty traders.

The objective of this program is to provide small loans to small business owners or artisans, groups that usually cannot access loans or credit through banks and traditional financial institutions.

The TraderMoni scheme is one of the arms of the Government Enterprise and Empowerment Programme (GEEP) initiated by the Federal Government of Nigeria on the platform of its National Social Investment Programme.

The GEEP was initiated in May 2016, to provide zero-collateral soft loans to traders, artisans, and farmers, aiming to improve their standards of living by expanding their businesses.

The two other arms of the GEEP are the MarketMoni and FarmerMoni, schemes targeted at market women and farmers respectively.

The scheme is handled by the Bank of Industry which uses its management software to validate loan applications. The loan is paid within 48 hours to a mobile wallet account, that can be cashed out.

Tradermoni has been criticized by some Nigerian citizens and political analysts, who stated that the motive is politically influenced, however, the program offers an alternative for small business owners in Nigeria looking for business loans to fund their businesses.

FMCG Intelligence Startup Lengo AI Secures Pre-Seed Fund to Expand to Other African Markets

0
Fund, money cash dollar

Lengo AI, a Senegalese-based AI-driven Fast Moving Consumer Goods (FMCG) has raised a seven-figure pre-seed funding to develop its products and enter new African markets.

The funding round was co-led by early-stage venture capital firm Acasia Ventures and Ventures Platform and joined by P1 Ventures, Launch Africa, Voltron Capital, and a number of other VCs and angel investors.

Lengo AI disclosed that the funding will be used to expand its tech and sales teams, further develop the AI portion of the product, and expand to new markets. 

Speaking on the fund raised, the startup CEO Max A. Smith said,

“Lengo AI’s platform already provides near real-time market monitoring from a ground-level perspective for over 2,000 products. Now we are working on leveraging AI to connect at scale with the last node of the retail network the corner shops. We’re building a very low-friction technology with retailers and actively recruiting the best AI and software engineers.

“Thanks to the support from Acasia Ventures, we hope to gain expertise in Nigeria and Egypt, and accordingly, make the right connections in both countries to expand our product for shopkeepers and work with brands to stop guessing Africa.”

Founded in 2022 by Max Smith, Roger Xavier Macia, and Ismail Seck, Lengo is the first AI-driven intelligence Platform for FMCG companies in Africa.

The platform uses a hybrid approach of Lengo Eagles (field agents) and AI to connect retailers and FMCG companies with real-time performance data on the sales of products.

Lengo AI aims to provide intelligence and highly actionable insights to FMCG brands coming from the thousands of corner shops that make up 90 percent of purchases across the continent.

With Lengo, premium access to the largest database on consumer goods in the fastest-growing consumer market in the World is now just a subscription away.

By joining the Lengo Club, shopkeepers, who are at the heart of the social and economic fabric of African countries, can increase their revenues by benefiting from insights on customer behaviors, alerts on new products, and a loyalty point system.

On the corporate end, the startup helps local companies in the FMCG sector optimize their resources and provides purchasing behavior data to international companies aiming to invest in Africa.

Notably, Lengo AI was the first startup to map out corner shops selling FMCG products in Dakar and is in the process of mapping out an additional six cities. Today, Lengo AI has accounted for and mapped out over 30,000 corner shops.