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Tesla Leads Germany in February EV Sales

By
Tiamiyu Ismail
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0

Recent report by German KBA, a German automobile registration company has revealed that Tesla leads Germany in February Electronic Vehicle sales, beating other brands including its domestic competitors by a significant margin.

According to the February sales report, Tesla sold a total 11,952 vehicles led by Tesla’s most popular EV, model Y, which was put at 6,442 units. Following Tesla are German domestic brands such as Volkswagen, Audi, and Mercedes which made 6,972 units, 4,767 units, and 4,029 units in EV sales respectively.

Teslarati’s Willaim Johnson wrote: “Tesla’s leadership in Germany does seem to be resulting in some profound changes from other brands. Most recently, VW announced a price cut on its next-generation VW ID.3, bringing it closer to competing with the Model Y. However, it remains more expensive than its segment competitor, the Tesla Model 3.

“Other brands have not followed VW in introducing price cuts, at least not in Europe, but have continued expanding their lineups to compete in more market segments. Mercedes is the best example of this approach, as it now sells a market-leading eight distinct models.

“Overall, the KBA noted that the EV market grew by 2.6% during February, a strong indicator that the market continues to gain interest in electric mobility. Hopefully, no matter the market leader, this interest can continue to grow and lead to a far more sustainable economy overall” the reporter noted in a news article published on the California-based Tesla news’ platform.

Flutterwave Secures New Licenses In Rwanda to Deepen Operation in East Africa

By
Samuel Nwite
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0

Flutterwave has continued to deepen its presence in the African market amid growing competition. The Africa’s largest fintech announced Wednesday it has secured Electronic Money Issuer and Remittance Licenses from the National Bank of Rwanda.

The licenses will help the company expand its operations in East Africa where it is expected to meet competition from top players such as LipaLater (Kenya), ImaliPay (Kenya), Credrails (Kenya), and Nala (Tanzania).

Olugbenga “GB’ Agboola, Founder and CEO of Flutterwave said Rwanda is important to the company’s plan to deepen its presence in East Africa.

“From our first transaction to over 400 million now, we’ve remained committed to our vision of connecting all parts of Africa through payments and connecting Africa to the world. As a country well known for fostering innovation and promoting the use of digital technology, Rwanda has always been important to our expansion plans in East Africa,” he said.

“We are delighted for the vote of confidence in being granted these licenses. With them, we will leverage our extensive global reach and continuous growth in emerging markets to provide MSMEs in Rwanda with the tools they need to stimulate the economy, facilitate seamless cross-border transactions for Rwandans and support the expansion drive of global and Rwandan businesses,” he added.

Flutterwave said in a statement that the licenses will help it to offer other services in addition to being a Payment Service Provider. The services include money deposit and withdrawal, electronic funds transfer, as well as inbound and outbound remittance services to the 13.46 million people living and working in Rwanda.

Flutterwave will be deploying a range of products in Rwanda, including Send by Flutterwave, its cross-border money transfer solution. Also available will be Flutterwave for Business and its suite of products, including Store, payment links, invoices and checkout to help individuals and businesses in Rwanda make the most of the booming eCommerce market.

Rwanda has a vibrant economy being spurred by hundreds of small scale businesses. Micro, Small & Medium Enterprises (MSMEs) in Rwanda account for about 97% of businesses and contribute almost 55% to the total GDP, according to Rwanda’s National Institute of Statistics. That makes MSMEs critical to job creation and the economic growth of the country.

Leah Uwiroheye, Flutterwave’s East Africa Regional Lead, Regulatory and Government Affairs, described the licenses as starting point for the company.

“This is a great achievement for the company. As Rwanda continues executing important reforms to enhance the ease of doing business and implementing its Fintech Strategy 2022-2027, Flutterwave keeps contributing towards achieving a cashless economy by innovating and employing digital technology to support businesses and stimulate the economic growth of countries where we operate. The licenses will enable us to provide safe, secure and seamless payment services for individuals and businesses in Rwanda. This is definitely a starting point for Flutterwave as we continue to expand across East Africa,” she said.

When Interest Rates Go Up And Why Banks Struggle [video]

By
Ndubuisi Ekekwe
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0

Many questions on this topic from our Tekedia Institute learners. Very happy to share publicly here. During Live class on Saturday, I will discuss in detail via a presentation titled Investment Portfolios and Personal Economy, and next week, we will deepen the lecture with scenario mapping.

Yours truly will wear his ex-banking cap and doctorate in banking & finance over the next two weeks. After that, we will return back to engineering.

#PersonalEconomy with Tekedia Mini-MBA

Comment on Feed

Comment: I have followed most of your postings on SVB and I think it can be added that as rates rises, future bonds cash-flows are discounted at higher rates which will make the price fall (hence the inverse relationship between bonds and interest rates) Also, the bank could have hedged their interest rates risk; when rates are rising, the ideal thing to do is to shorten duration. The market had expected Fed to raise rates long before they started to raise. I wonder what the bank’s asset & liability management were thinking-betting on fed not raising rates? Anyway just thought I should add that Keep up the good work

My Response: Great point but note another thing happened: startups were not raising money and decided to draw down from their money in the bank. That pushed SVB to look for capital, triggering the need to sell bonds before they could have liked to sell to boost liquidity. If the startups had not requested for their money, SVB would have just waited for a better time to sell.

On that video, I had a minor “mis-spoke” there. On the bond rate, I would have said bond price, not rate, on a sentence there.

Strategic Leadership: Why Great Companies Adapt their Management Models to Time

By
Tiamiyu Ismail
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0

The question of leadership invariably surfaces in virtually all forms and levels of human organisation. However, in corporate management, leadership goes pari passu with a functional management structure. The intersession of leadership and management informs strategic leadership. Strategic leadership encompasses the responsibility of the senior executives which involve making board, long-term plans and directing the organisational resources.

Strategic leadership has been defined as a practice in which ‘’executives use different styles of management to develop a vision for their organisation that enables the organization to adapt to or remain competitive in a changing economic and technological climate’’. Strategic leaders are able to use this vision to motivate employees and departments, fostering among them a sense of unity and direction in order to implement change within their organisation.

The inability to bring leadership together with good management technique has been largely responsible for the failure of many businesses. According to a report by Small Business Administration cited in investopedia.com, the most common reasons small businesses fail were due to lack of effective management system followed by lack of funding, inability to retain talents faulty business model, unsuccessful marketing initiatives etc. Even where funding and talents seem not to be the problem, some businesses have failed solely due to poor management of financial and human resources.

From the first industrial revolution to the fourth, corporate leadership has engendered new meaning impacted by socio-economic changes. Across periods of human evolution, the economic mode of production and the social relations of production have changed, and businesses and entrepreneurs have had to change or refine their leadership and management models at one point in time or another.

The continuing technological revolution and the increasing globalization of business and economic activity does not only cause intermittent market disruptions across ages but also dictates particular leadership and management style necessary for a firm to adapt to a new competitive landscape.

In the last twelve decades, corporate leadership and management have transitioned from ‘’command and control’’ approach to ‘’people-centric’’ model, and now managers have increasing demand to develop tech-skills and the capacity to transform in the cloud. Also, from the great financial crisis of 2008 to the outbreak of Covid19 pandemic in 2019 the global economy has been on its transition from web2.0 to web3, and corporate leadership has been centred on digital-data and blockchain.

Generally, business survivability and sustainability has been associated with the type of leadership and the management structure featured by the business relative to time. Therefore, strategic leaders are expected to be flexible and broadminded with regards to the design and implementation of the management structure.

Remote Working and How to Productively Work from Home

By
Tiamiyu Ismail
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0
Virtual event or meeting has gone mainstream, benefiting Zoom

As societies evolve, new social relations of production result from changes in the economic mode of production. In recent periods, the economic life has been highly characterized by remote working, a situation where individuals work from the comfort of their homes or anywhere other than the physical confinement of their office settings.

Remote working can be conceived as a by-product of globalization in the sense that it has made it possible for individuals to offer their labour for value creation irrespective of their geographic location per time. Consequently, many companies have been able to save cost in terms of overhead reduction by promoting remote working.

The beauty of remote working ranges from having flexible hours, ability to take in multiple jobs per time, personal comfort and convenience, absence of micromanagement from a superior, absence of office politics, and absence of commuting hassles. However, all of these depend on the self-management skills of the individual.

Remote working may go wrong and result in unproductive venture when one is not discipline enough to separate what is important and not important and what is urgent and not urgent per time. In other words, if one is not able to separate business from personal life per time while both are under the same roof, one may end up spending more time with loved ones or on other things rather than getting one’s work done.

There is also a tendency for one to be isolated from recreation and social life. In this light, experts have suggested that while working remotely, one may develop a workaholic syndrome.

What are the things you need to do to have productive time working from home?

Familiarize yourself with rules of remote working: It is important to get yourself acquainted with the rules of remote working. Two of such rules include independence and multitasking. For instance, in the formal office setting, one may have recourse to support from other workers for one to perform one’s specific job roles, but when working remotely, one will have to independently execute all the functions that lead to the completion of one’s task.

Planning and implementing a good design for your home office. Mapping out a strategic space at home for work related purposes and enlivening the same with a design that befits the nature of your job have significant influence on one’s work ethics and performance at home. A well decorated home-office equipped with necessary tools naturally provides one with motivation to work.

Inculcate work-life balance. Manage self and finance. Set hours, and manage your work-flow into those hours.

Recreation and strategic networking will help to keep you connected, informed and revitalized. You could achieve these by meeting new people at social and professional functions, getting occasional exercise outside the homestead or registering for evening classes.

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