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Home Blog Page 4031

Plant The Tree of Capital; Join Tekedia Investment and Portfolio Management program

By
Ndubuisi Ekekwe
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0

On Saturday, we will begin the Live Zoom of Tekedia Investment and Portfolio Management program. More than 150 professionals are co-learning with us in this edition. The prerecorded courseware went out on Monday (July 3), and on Saturday, I will open the live session with a two hour delivery.

Together, we will co-master how to plant that capital, to grow and blossom, exponentially. Among the five factors of production, CAPITAL remains the one with the highest velocity. What I mean is this: you can use capital to acquire Knowledge, Land, Labour – and even the Entrepreneur (co-founder-for-hire is common these days), and that means Capital is central in the formation, organization, and operation of firms. A man or woman with capital is a FACTOR because with capital, you can pursue a vision, and bring it to pass.

The questions remain: how do you make that capital to keep growing as you deploy it? How do you balance the risk as you plant it as a seed, since the soil of markets can consume it? How do you take care of your capital, from nursery into the main forest of markets? When you invest, you deploy capital so that firms, organizations or the partnering entity can use it to do something in the market system.

The Investment Process now means understanding the market system functions towards making sure your promised value is realizable and your capital protected. Legends of markets are made when they accelerate realized growth with minimal risk!

I invite you to register if you have not done so. It is $400 or N180,000 and we have many payment options here. Like a farmer, Tekedia Institute educates on how to pick the best fertile ground, the right fertilizer mix (balanced nitrogen, potassium and phosphorus) and shovels to have the best harvest. Co-learn with us and REGISTER.

This is the best investment course in Nigeria and Africa you can get for value.

MTN Mobile Money, MoMo, Hits 8 Million Users in South Africa

By
Ojukwu Emmanuel
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0

MTN, Africa’s largest telecommunications company, reports that its mobile money (MoMo), has hit a total of 8 million users in South Africa.

Chief Financial Services Officer MTN South Africa, Bradwin Roper disclosed that the surge in MoMo users is attributed to the increasing demand for alternatives, especially among those in rural areas where there is no traditional infrastructure.

Also, in search of connectivity, simplicity, reliability, added value, and an increasing range of services from a single source, MoMo has become the go-to platform for most South Africans.

In his words,

“As more South Africans look to join the mainstream financial services sector, they encounter discouraging fees, complexity, and bureaucratic hurdles. Compounding this is the present economic situation, which is seeing banking fees increase, and even double in some cases. Our commitment to this market is expressed in our MoMo platform, which has attracted eight million subscribers in a few years. The key to this success has not been due only to free services but access to everyday services and the promise of future advancements.

“The fee-free benefits of many of our MoMo services are significant, particularly as many individuals struggle to make ends meet amidst mounting financial pressures. The advantage that MTN and other significant players in this sector have, is that we do not have the legacy investments in technology and systems common to many mainstream financial institutions.

“Our ability to offer cost-effective and convenient smartphone-based services and quickly adapt to changing customer needs to launch add-on services means we have a significant business advantage. Consumer trends indicate that the search for alternative services will only accelerate in the future. Our ability to pivot, meet demands, and control costs together with our commitment to offering customers innovation at every step, will drive benefits for a growing customer base well into the future”.

MoMo platform which is powered by UBank, uses the Ericsson Wallet Platform, enabling customers to use their mobile phones, and other devices, to send and receive money, purchase airtime and prepaid electricity, and pay for their municipal bills and DSTV subscriptions.

MTN believes this is what makes MoMo appealing to SA’s unbanked community as well as those who might not enjoy the burden of withdrawing cash from their accounts.

Since the launch of MoMo in South Africa in January 2020, MTN said the mobile money service has continued to amass millions of users every year. In the first quarter of its launch, MoMo users had grown by 400,000.

Also, the number of active merchants accepting MoMo payments has continued to increase significantly, with the value of remittances growing.

In 2021, underlying the growth of MoMo across Africa,  MTN announced a $2 million partnership with the International Finance Corporation (IFC) to expand its mobile money business in South Africa.

The partnership aimed to target the unbanked and underbanked population by establishing a strong network of MoMo agents. MTN is attempting to tap the unbanked market in SA, which it has estimated at 11 million.

Strategic Voices for Improving Nigerian Brands in the Changing World

By
Mutiu Iyanda
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0

Our analyst observes various themes in what people are saying about Nigerian brands in 24 hours. These themes include skepticism and concern about product quality and authenticity, the importance of supporting local businesses, the impact of globalization on consumer preferences, and the need for Nigerian brands to improve their image and offerings.

Skepticism and Concern about Product Quality

Several tweets express skepticism and concern about the quality and integrity of Nigerian brands, particularly in the skincare and fashion industries. @CupOfSugaInMay highlights her skepticism about working for Nigerian brands due to their lack of transparency and testing evidence. @Temmietholar and @Bibi_Eth mention that some Nigerian skincare brands have been compromised due to the demand for quick results, leading to safety concerns. @whyifeoma mentions that even some international brands may have questionable practices, suggesting that product quality is a broader concern.

Implication: Nigerian brands need to prioritize transparency, quality control, and safety measures to gain consumer trust and confidence. By addressing these concerns, they can enhance their reputation and credibility in the market.

Support for Local Businesses

Some tweets emphasize the importance of supporting Nigerian brands. @DukeofBourdilon advocates for avoiding discrimination and tribalism and urges people to support local brands to realize the Nigerian dream. @GoodMarket_ promotes Nicnax, a Nigerian brand offering affordable alternatives to imported products and creating job opportunities for local farmers.

Implication: Encouraging local support for Nigerian brands can stimulate economic growth, create employment opportunities, and contribute to the overall development of the country’s business ecosystem.

Globalization and Consumer Preferences

Many tweets suggest that some consumers are shifting towards foreign brands due to perceived quality, safety, or authenticity. @TheDakoAlice contemplates targeting foreign customers due to budget constraints with Nigerian brands. @Bibi_Eth and @Tejumola__ recommend opting for foreign skincare brands for safety reasons. @Heydavinaa_ expresses frustration with Nigerian ready-to-wear brands, indicating that some consumers may perceive international brands as more reliable.

Implication: Nigerian brands need to adapt to changing consumer preferences and global trends to remain competitive in the market. By continuously improving their offerings, branding, and marketing strategies, they can attract both local and international customers.

Need for Improvement and Innovation

Several tweets point out the need for Nigerian brands to innovate, create original designs, and offer unique products. @MonsuratAbdulw2 raises concerns about Nigerian RTW brands lacking originality in their designs. @EuginhoCortez criticizes the excessive sweetness of Nigerian peanut butter, suggesting room for improvement in product formulation.

Implication: Nigerian brands should focus on research and development, investing in creativity and innovation to develop distinct products and designs. By doing so, they can carve a niche in the market and differentiate themselves from competitors.

While some express skepticism and concern, others advocate for supporting local businesses. Globalization and changing consumer preferences pose challenges for Nigerian brands, necessitating constant improvement and innovation. By addressing these issues, Nigerian brands can enhance their image, foster consumer trust, and compete effectively in the global marketplace. Supporting local brands not only boosts the economy but also empowers Nigerian businesses to thrive and contribute to the country’s growth.

Abia Gov. Alex Otti Announces New Digital Tax Scheme for Traders, Transporters, with Insurance Component

By
Samuel Nwite
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2

Abia State Governor, Alex Otti, has announced a new digital tax system for transporters and traders, aimed at curbing fraud and leakages that have characterized revenue collection in the state.

The newly-elected governor had earlier disbanded the existing tax system in the state and announced a plan to introduce a far more effective system that will ensure that revenues collected go into the government’s purse.

In a statement titled: Abia Launches New Digital Tax System For Transporters, Traders, Otti said the digital tax regime comes with an insurance scheme for commercial vehicle operators and traders.

“I’m proud to introduce a revolutionary digital tax system that is designed to curb fraud and augment revenue,” he said.

“This system incorporates a free medical insurance scheme for all commercial vehicle operators, enabling us to fuel entrepreneurial growth and progress within the state.

“We envisage this digital platform to not only simplify tax compliance but also unlock substantial revenue for development projects, thereby strengthening our state’s economy. It offers easy payment options for both transporters and traders and promotes transparency, reflecting our steadfast commitment to facilitating business operations in Abia state,” the governor said.

The digital tax regime was announced on Tuesday, on the heels of the move by the federal government to introduce VAT on market traders and the informal sector.

The Federal Inland Revenue Service (FIRS) said in a statement on Monday that the federal government aims to launch a system dubbed VAT Direct Initiative to curb multiple taxations in the informal sector.

To achieve its aim, the tax agency said it will partner with the Market Traders Association of Nigeria (MATAN) to collect & remit VAT from their members, using a unified systems technology.

Concerns have been raised about what people see as a burden of taxation as both states and the federal government seek to widen their tax nets.

The move is understood to have been necessitated by oil revenue shortfalls, forcing the governments to see taxation as an alternate revenue stream.

However, experts believe that the tax initiatives would yield good results if rightly implemented. Talking about the federal government’s VDI, Taiwo Oyedele, PwC Africa tax chief, said the move should be commended but it needs some safeguards to prevent abuse.

“The social contract between the government and the people requires that every taxable person pays their taxes while government must apply the revenue collected for the benefit of the people,” he said.

He said the initiative will help the traders ward off the menace of multiple taxes and extortions often by non-state actors, but warned that there is a need for proper education to ensure that the traders know their rights and are not exploited by tax officers.

Otti had earlier indicated that Abia’s new tax scheme is to protect the people from multiple taxes imposed by non-state actors.

Casino Myths Debunked: Separating Fact from Fiction

By
TI Partners
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0

Do you have something around you that brings you luck? Something like a rabbit’s foot, a lucky lighter, or a pair of socks that you always put on before an exam or a job interview? And be honest: does it work?

People have been relying on lucky charms and various rituals to earn the favour of fate, especially when playing at a casino. Gambling is surrounded by many myths, and we’re planning to debunk some of them today.

Myth 1: Lucky Charms and Superstitions

The lucky rabbit’s foot, the lucky lighter or the lucky pair of socks that you put on before a job interview has an official name: amulet. Meaning “lucky charm”, amulets are objects that are believed to protect from harm and bring good fortune to the bearer. And the science of statistics has disproven their effectiveness, just like that of the many lucky rituals you see at a casino.

Having a lucky silver dollar in your pocket or blowing on the dice before throwing doesn’t make you any luckier. If anything, it only makes you feel better – much like a placebo.

Myth 2: Hot and Cold Streaks

Did you ever see someone who didn’t want to stand up from a slot machine because they were having a “hot streak”? And someone who blamed “cold streaks” for their lack of winnings at a gaming table? No, there’s no invisible force driving the ball on the roulette table or stopping the reels of a slot machine at a non-winning combination. This is especially true at online casinos, where every round is decided by a provably fair random number generator.

So, whenever you feel like you have a winning streak, walk away while you’re still winning – you have no way of knowing whether your next round will be a winner.

Myth 3: Systems to Beat the House

Roulette was a major hit in late 19th century France. Most people enjoyed the thrill of the game, while some felt like there was order in chaos, and that they could find a guiding path that would help them break the bank. While roulette didn’t make any millionaires, it did wonders for the science of statistics.

Casinos are not charities – they are companies that offer their players a service, and they are supposed to be profitable. The operator’s profits are built into the odds of each and every game. While big wins do happen, even million-dollar, life-changing ones, the casino will always win in the end.

Myth 4: Casinos Alter Payouts and Manipulate Games

Casinos always win in the end – but they don’t cheat, even if there are voices constantly accusing them of just that. On the one hand, casinos are required to be transparent about their practices. On the other, they are under constant scrutiny by regulators. Shady practices like altering payouts and manipulating the games could very easily cost them their license, which would make it impossible for them to operate.

Myth 5: Online Casinos Are Rigged

Back in the early 2000s, online casinos popped up like mushrooms after the rain. At the same time, regulators were not up to the task, failing to put in place all the necessary checks and balances. As such, many of the online casinos at the time were bad actors. At this time, online casinos became synonymous with fraud. But times have changed, and regulations have been updated, so this is no longer the case.

Today’s online casinos operate under constant scrutiny. Regulators, industry groups, user protection advocates, and various NGOs that promote responsible gambling are keeping an eye on them, making sure that your online gambling experience is always as safe and fair as possible.

So, next time you step into a casino, online or otherwise, forget about the rabbit’s foot or the “foolproof” roulette system some shady guy is selling online. Simply enjoy the game, and make sure you do it in a responsible manner!

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