DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 4167

Why is everyone running away from Nigeria?

0

A Nigerian YouTuber residing in the United Kingdom was interviewed by the BBC  and he disclosed the Nigerians’ strategies with their japa plans. He told the BBC that Nigerians use education as a strategy to Japa (relocate) to the UK and also bring their dependents like spouses along. He stated that Nigerians do not necessarily need the degree they came to the UK for, they are only using it as a means to an end to escape Nigeria’s hardship.

The Nigerian internet has been agog over that particular interview; several Nigerians have called out the guy for granting the interview; some called him a snitch, others are insulting him claiming that he is burning the bridge after he crossed over so that others won’t cross.

The public uproar from Nigerians, especially the ones claiming that they have been saving up to Japa too but this guy’s interview wants to block the way for them got me thinking about the number of people that want to leave Nigeria. A lot have left already in droves and it’s scary that the number of others preparing to leave too in search of greener pastures is high and above the ones that have already left. 

My question is; must everyone leave Nigeria? Yes, there is a bad government, and yes there is a lack of jobs but if we all leave, who will be left behind to help rebuild the country? 

The hard truth is that aside from the glitz and glams, the colourful social media picture posts from those that have japad, not every one of them is having a good time, some are still not surviving out there, some are still struggling; the United Kingdom itself currently facing economic hardship, inflation is on the rise, same with most economies of the world; it is not always how most of the japa enthusiasts think that it ends up being.

Although there might not be enough jobs in Nigeria there are a lot of opportunities, I can attest to that, you just need to learn how to plug in and tap into it but the enthusiasm for Japa has blinded most Nigerians’ eyes to see this. Everyone must not be gainfully employed by the government. There is no country in the world (not even communist China) where the government is the number one employer of labour; citizens sprang up, created jobs for themselves and extended employment to other persons.

This whole japa conversation is tiring, the amount the UK alone makes from Nigerian international students if invested back into the country will go a long way in helping the economy of Nigeria.

The UEA did not become what it is today by every citizen of the country fleeing the country in search of greener pastures when they are still underdeveloped economy in the late 90s and the early 2000s, same with Singapore, neither did the Chinese flee China in face of economic hardship, even post WW2 Japan. Citizens joined hands with the government to build the economy until it became a world-class economy.

Nigeria is our home and there is no place like home. Please let us stay, join hands and rebuild it.

 

The Nvidia Moment

1
Nvidia chip

Microsoft is a platform company because more revenue is generated by many companies which rely on many Microsoft products than the revenue generated by Microsoft. In other words, when you examine all the companies that run on Windows and Microsoft 365, and calculate the total revenue those products support, they beat whatever Microsoft is making out of the products. That is one feature of a platform.

Today, in the hardware business, Nvidia is the most important semiconductor/ microelectronics company in America (I did not say in the world, as TSMS rules the world therein). Nvidia is a clear platform, and it has demonstrated the capacity to transmute into something new whenever necessary.

During the boom years of gaming, Nvidia led. Then Bitcoin and cousins came in the cryptocurrency mining, Nvidia was there. Today, it is all about AI and Nvidia has become the plug. Left and right, this is becoming a special company and Nvidia has a moment.

Good People, Nvidia is a great technology company which has a real chance of becoming a new generation technology leader at scale: “Sales for the quarter ending in July will come in at about $11 billion, the company reported Wednesday, far beyond analysts’ forecasts of $7.2 billion. ” You do not deliver such without having category-king products. This company is emerging as a critical company of the 21st century.

Nvidia’s sales forecast has left Wall Street’s expectations in the dust, and then some. Sales for the quarter ending in July will come in at about $11 billion, the company reported Wednesday, far beyond analysts’ forecasts of $7.2 billion. The chipmaker’s stock jumped more than 25% in after-hours trading, continuing a rally that has pushed up shares more than 100%for the year. Driving the boom: the firm’s burgeoning business making chips for AI calculations in data centers.

Those computing engines “excel at parallel processing,” Bloomberg notes, “which makes them well suited for training software by bombarding it with data.”

Jumia Losses Decline Significantly, Meets End of Year Target in Q1 2023, Following New Strategy

0

Pan-African technology company built around a marketplace, logistics service, and payment service, Jumia has seen its losses decline, and met its end-of-the-year target in its first quarter (Q1) report for 2023, following the implementation of strategy from new management.

Reports reveal that the e-commerce platform reached the lowest losses in four years after the new management Jettisoned the blueprint of the previous management.

Jumia’s adjusted EBITDA loss dropped 51% year-over-year to $27 million, on track to meet the company’s end-of-year target of $100-120 million in adjusted losses. Similarly, operating loss was down 54% from Q1 2022 to $30.9 million.

The streamlining efforts of Q4 2022, where Jumia reduced its headcount by 20% affecting 900 roles across its 11 markets, were instrumental in reducing losses. However, the General and Administrative expenses for Q1 2023, which dropped by 32%, do not yet reflect the full impact of the headcount cuts of Q4 2022.

Jumia CEO Francis Dufay disclosed that more layoffs could come as the company expects to reduce G&A costs by as much as $28 million by the end of the year. 

The company’s marketplace revenue reached $27.4 million in the first quarter of 2023, up 4% on a year-over-year basis. Commissions were the fastest growing marketplace revenue stream, it said in the financial statement, increasing by 40% year-over-year. Expenses in fulfillment, sales, advertising, and technology decreased 33%, 61%, and 9%, respectively, from Q1 2022 numbers.

Speaking on the strategies implemented to improve growth, the company CEO said,

“We’re reviewing how we do the logistics and supply chain by negotiating with suppliers and saving packaging costs, for example. We have improved the truck routes, which have minimal impact on customers and vendors but enabled us to save a lot of money.

“We have also reduced marketing spend a lot which was a huge driver this quarter because we believe that we can build the right fundamental for growth with much less marketing spent going forward.”

The CEO noted Jumia will continue right sizing its business in several departments and introduce more efficiency as part of its ongoing process to create a leaner cost structure that includes fewer customers. 

He also said that the e-commerce company is pivoting to a new model of growth, which includes three things, which are, improving supply and assortment relevance (by attracting onto the platform high-quality brands and suppliers with a focus on core e-commerce categories such as phones, electronics, home appliances, fashion, and beauty), enhancing seller management tools and processes to improve the experience of sellers in Jumia, and to increase its customer base, penetrating its addressable markets more effectively by tapping into the large consumer pools located in inner cities and rural areas where usual supply and retail coverage is poor. 

It is worth noting that Jumia has been making losses since its inception, reporting $57.2 million in its 2022 second-quarter report. The company has long shared its ambition to become profitable but it has not been clear how soon that will happen, even as the company steadily decreases its losses. 

On November 2022, it announced leadership changes to support its journey toward profitability. Jumia co-founders Sacha Poignonnec and Jeremy Hodara resigned from their roles as co-CEOs, just ten days before the company’s third-quarter 2022 financial report. The end of their tenure, therefore, marked the first time a new face, Francis Dufay, the ex-chief at Jumia Ivory Coast and now acting CEO of Jumia took charge.

On the call, Dufay was quick to emphasize why the e-commerce giant’s supervisory board decided to install new management, stressing that Jumia’s approach to turning a profit after half a decade of successive losses on the NYSE (as Africa’s first publicly traded company) required more deliberate execution and a return to basic e-commerce fundamentals.

Dufay then proceeded to lay out the new business strategy for the company during the Q3 2022 earnings call, stating that the recent focus on cost discipline and return on investment speaks to an ever-increasing need to make the company profitable in the near future. Results for Q3 showed more encouraging signs that the company is on the right path.

He further stated that the company intends to bring more focus to the core business, allocating capital, resources, and teams to main areas and projects with attractive returns on investments and clear ecosystem benefits.  Dufay said he wants Jumia to become a more attractive platform for its third-party vendors to sell on.

Altcoin That Could Reign Supreme In 2023 – WOO Network (WOO), SingularityNET (AGIX), Or Tradecurve (TCRV)?

0

Analysts and investors alike have recently been enamored by Tradecurve (TCRV) – a project currently in Stage 1 of its public presale that could evolve into a dream platform for millions of global traders! And while cryptos such as WOO Network (WOO) and SingularityNET (AGIX) may seem like the go-to tokens due to their past achievements, let’s find out which one might be most successful!

>>BUY TCRV TOKENS NOW<<

WOO Network (WOO)

WOO Network (WOO) has recently integrated with WunderTrading to utilize its spread trading terminal and automate complex crypto techniques. This news was met with excitement from the WOO Network (WOO) community causing the token value to rise.

Currently, WOO Network (WOO) has a value of $0.2827, an increase of 13.52% in the past 24 hours. The trading volume for WOO Network (WOO) also surged by 37% at that same time, reaching $54,072,379.

Moreover, the technical analysis for WOO Network (WOO) shows us a bullish sentiment with all moving averages in the green. Moving above both averages indicates strong buying momentum, which is a good sign for the WOO Network (WOO) value. Because of this, experts predict WOO Network (WOO) may surge to $0.40 by the end of 2023.

SingularityNET (AGIX)

Recently, SingularityNET (AGIX) launched Zarqa, a new neural-symbolic AI. With Zarqa, SingularityNET (AGIX) aims to bring about the next generation of large language models.

The hype behind this project has reflected on the SingularityNET (AGIX) token as it now trades hands at $0.3604, which is a rise of 7% in the last day alone. Not only that, the SingularityNET (AGIX) trading volume has also jumped by 13% and now sits at $42,341,709.

Investors are encouraged by the technical analysis of SingularityNET (AGIX) since all technical indicators are showing buy signals. If this buying pressure grows, SingularityNET (AGIX) could soon reach its resistance level of $0.426. And if SingularityNET (AGIX) bulls break through this level, smooth sailing to $0.447 may be seen.

>>BUY TCRV TOKENS NOW<<

Tradecurve (TCRV)

Tradecurve (TCRV) hopes to become a significant player in the online trading industry by introducing a hybrid trading exchange built on the Ethereum blockchain that will allow users to trade multiple asset classes from one account – all while using cryptocurrency as collateral!

You read that right; simply create an account on Tradecurve (TCRV) using your email (no KYC requirements), link your crypto wallet to it, and deposit. Once the deposit is confirmed, you can begin trading stocks, forex, gold, or even cryptocurrencies on the same account!

>>BUY TCRV TOKENS NOW<<

By holding the platform’s native token, TCRV, you will receive various discounts, staking rewards, and access to VIP status. These perks are a great deal since the token currently costs just $0.012! But, the presale is slowly picking up steam, and the price surges as it does. Some analysts even expect the TCRV to be worth $0.60 by the time its presale ends!

Regarding security, Tradecurve (TCRV) has already obtained an audit for its token smart contract and will lock team tokens for three years while freezing liquidity for two – no scams here!

We believe Tradecurve (TCRV) may be the best investment option for 2023 as it has a strong foundation and solid fundamentals.

For more information about TCRV presale tokens:

Click Here For Website

Click Here To Buy TCRV Presale Tokens

Follow Us Twitter

Join Our Community on Telegram

TMS Network (TMSN) Surges 3000%, Polygon (MATIC) Overtaken By ZkSync, Arbitrum (ARB) Announces Reward Program

0
tms trading

TMS Network (TMSN) has made a big name for itself in just a matter of weeks. It has already entered the league of crypto titans, with a presale growth of more than 2800%. According to the experts, TMS Network (TMSN) is the best investment option, significantly better than Arbitrum (ARB) and Polygon (MATIC). In this article, we will look into the reasons that make TMSN better than ARB and MATIC.

Polygon’s (MATIC) zkEVM Loses Race To ZkSync

Recently, Polygon (MATIC) launched zkEVM, a layer-2 scaling protocol, to enhance its ecosystem. However, recent reports have revealed that Polygon’s (MATIC) zkEVM is losing the race to one of its competitors despite witnessing a rise in popularity. According to the reports, zkSync has outperformed Polygon (MATIC) in terms of total value locked (TVL).

Messari’s data suggests that zkSync had nearly $200 million in TVL while Polygon’s (MATIC) zkEVM registered some $2.2 million. It indicates lesser adoption of Polygon’s (MATIC) layer-2 scaling protocol. The price of Polygon (MATIC) has also tumbled by 25% in the past month. Consequently, the current trading price of Polygon (MATIC) has come down to $0.87.

Arbitrum (ARB) Eyes Attracting More Users

After witnessing a massive rise, Arbitrum’s (ARB) performance has been going downhill for the past many weeks. According to the latest data by Santiment, the number of active addresses on the Arbitrum (ARB) network has plummeted from 997k to 436k in the past month. This has also caused Arbitrum (ARB) to take a dip of 28% on the monthly price chart. Currently, Arbitrum (ARB) is available to trade at $1.20.

To address this issue, Arbitrum (ARB) has announced a new decentralized autonomous organization (DAO) revenue mechanism for its token holders. Under this mechanism, Arbitrum (ARB) will distribute the accumulated surplus fees among the token holders. According to experts, the development can cause an increase in the user base of Arbitrum (ARB).

TMS Network (TMSN) Attracts More Crypto Fans

TMS Network (TMSN) has built a matchless social trading platform that has stunned the market with its multiple use cases. The platform gives users access to a range of asset classes, like Forex, CFDs, equities, cryptocurrencies, and more, on a single trading platform.

TMS Network (TMSN) is accessible across the globe, and users can use its services without creating any new account on the platform or bank. Traders can flawlessly trade on the platform by just linking their wallets. TMS Network (TMSN) offers low latency, and cheaper and faster finalization of trades. It aims to maximize the profit gains of traders by providing several advanced tools, such as proactive monitoring cloud-based solutions, trading bots, and a strategy builder.

With its technological advancements, TMS Network (TMSN) aids traders in automating their trading strategies, managing risk effectively, and easily managing their portfolios. Besides, the cross-chain network aggregates all orders, and pairs the best prices for the finalization of trades. TMS Network’s (TMSN) ingenious invention is its commission-sharing model. TMS Network (TMSN) charges a small fee on each trading activity, and the revenue arising from it gets distributed among all the token holders. The token holders also get access to an education program where they can polish their skills by learning strategies of trading from seasoned investors.

TMS Network (TMSN) is in the presale stage 3, and the purchase price of a token has soared by over 2800%, and is projected to surge higher. Currently, a TMSN token is available to purchase at $0.088, while its initial price was $0.003.

 

Presale: https://presale.tmsnetwork.io

 Website: https://tmsnetwork.io

 Telegram: https://t.me/TMSNetworkIO

 Twitter: https://twitter.com/tmsnetwork_io