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Home Blog Page 4737

Normalising Travel Warning in Global Political Discourse

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As the world continues to change in social and economic aspects, no country can survive without engaging in global politics to ensure a better livelihood for citizens. It is also important to understand that predicting what will happen in international politics is difficult. This is primarily due to the fact that global leaders rely on a variety of data to make decisions that protect their countries’ interests, which will eventually pay off for citizens.

The terrorist attack on the Pentagon in the United States on September 11, 2001, was one of many noteworthy events that year. It served as a strategic turning point for world leaders, particularly American presidents, regarding how to ensure adequate security. When insecurity and safety issues are discussed in various fora or covered by the media, some groups, people, and nations are constructed and portrayed as folk devils as a result of the incident. The global south’s citizens and nations have borne the majority of the burden of construction and representation.

As mentioned previously, the incident served as a strategic turning point that sparked ongoing changes in how nations in the global north advise their citizens to travel to nations in the global south. Travel warning information is frequently updated by nations like the United States of America, Canada, France, Germany, Australia, and New Zealand in response to changes in public health, crime, terrorism, hostage-taking or kidnapping incidents, civil unrest, natural disasters, and other risks. World Nomads documents the changes every day.

Formulated Indicators

An examination of the existing indicators reveals that these countries use various constructs to define a specific indicator. For example, after reviewing the characteristics of the risks mentioned earlier, the United States of America and Canada typically issued four levels of travel alert. The four levels from US embassies to Americans are: normal precaution, increased caution, reconsider travel, and do not travel. Canada embassies follow a similar pattern, with minor differences in the wording of the levels. Instead of exercising normal security precautions, Canadian embassies issue alerts using normal security precautions.

Exercise a high degree of caution is the second level of alert for Canada instead of exercise increased caution level of the US’ alert statement. Avoid non-essential travel and avoid all travel are the third and fourth level of Canadian embassies. These levels are similar to those used by other countries in the global north when communicating travel alerts to their citizens.

According to a critical analysis of these levels, the US and Canada appear to have mastered the construction and representation of individuals and nations in the global south in relation to risks that have been identified. For instance, it is highly derogatory to use phrases like “a high degree of” and “avoid all travel.” The phrases imply that even though there are people in the country, it is not at all safe for them, and that the government does not genuinely care about their quality of life. “We issue an overall Travel Advisory level for a country, but levels of advice may vary for specific locations or areas within a country,” the US Department of State denotes.

Our analyst interprets this as “travel warning hegemony.” A new concept that could be properly positioned in global political discourse, in which lower and middle socioeconomic and political status countries are expected to compete and negotiate for recognition before capturing value from global opportunities.

Knowledge or Power in Contesting the Indicators

According to our checks, governments and individuals, including friends of the countries profiled as not secure and safe, have taken the course of contesting the alerts, describing them as discriminatory and capable of jeopardizing economic growth. The protest’s outcomes are still mixed. In some cases, the global north countries simply reduced the travel advisory based on the previously discussed indicators. The Nigerian government recently expressed concern about travel advisories issued by some embassies to their personnel in Nigeria.

Our analyst believes that improving intelligence gathering is critical for countries in the global south that are contesting the indicators. External organizations or parties issuing security status scorecards for countries based on intelligence gathering is absurd. When it comes to security and safety, governments and security agencies must recognize that it is rarely about power. It is a question of who has the necessary knowledge to make strategic decisions.

The Obese Blue Bird Is Now In A Financial Gym, To Stay Fit

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As Elon Musk takes an obese blue bird to financial gym so that it can stay in shape, try to learn something from him. Indeed, if you run a company and your pride comes from the number of workers you pay, not the productive output created in the company, you have a problem in this knowledge age. 

There were less than 36 engineers when WhatsApp was sold for close to $19 billion to old Facebook (now Meta). The total number of staff was about 50. The modern age of knowledge systems makes things compound at scale, unlike the industrial age architectures.

While we cannot compare orange and apple, Musk bought Twitter for $44 billion, inheriting close to 7,500 workers; other social media platforms like Instagram, Facebook, Snap, etc outperformed Twitter on userbase/staff. That he wants to reduce that number must not be seen as a billionaire attacking the 99%. Twitter was a bad product. Yes, I could not use it; and I left because I could not use it. Yet, they were congregating many humans for a product few could use easily. What were those workers doing?

The good news is this: co-founder and ex-CEO Jack Dorsey has apologized for many own-goals. It does mean that within days of the Musk era, he has found areas he could have done things differently. One of those areas was making Twitter obese. But because of his larger than life in the company, no one would have challenged him. With Musk in, the bird is in the financial gym. Hopefully, it comes out leaner to run against Facebook, Snapchat, TikTok, etc competitively.

People should spare Musk the verbal attacks; Twitter is not a charity. After spending $44 billion, the world must not expect Musk to “toy” around with a bird. Yes, that bird must produce quality financial eggs to feed the investors! And making that happen does not need a special UN resolution on how it must be done.

Comment on Feed

Comment 1: Prof’s balanced views about the economic and financial influences of decisions made by pioneers, and not just emotional driven thoughts you often get from consumers of tech products especially, should be what I love most about his comments on these matters.
Last time it was about Meta, today’s about the blue bird.

The most important thing is to keep the vehicle moving, sometimes you’ll need to take less passengers than the vehicle usually takes so it doesn’t get in a worse shape than it already is.
I was talking with an Indian friend about this a few days back when we discussed about how people lashed on Byjus Co-founders for signing Messi as their new ambassador while planning to lay off over 2,500 employees over the next 6 months.

Sometimes as a growing techpreneur who seems to view the world differently it’s encouraging to see experts proving you’re not on the wrong track when they comment on issues this way.

My Response: Indeed, Adam Smith’s “invisible hand” must continue to be relevant for markets to function despite the activists. If a founder does not do what he/she has to do to save the firm, the firm goes down and everyone suffers.

Comment 2: You can attack him if you like but that would not change anything. He who pays the Piper dictates the tune. Business is not the extension of the Salvation army nor is it a detachment of the boys scout movement, profit drives business. He is going to do everything possible to make this bird profitable. He won’t accept anything less.

Comment 3: Mind how ypu monetized mobile application.

Any mobile app can be replaced with another one with new features and free.

If you’re running a business that advertises for the whole world, you need a rep in each country. Do the math and see how many workers you should have.

Twitter Ex-CEO has created bluesky, let’s see how bird can cover sky.

My Response: “Any mobile app can be replaced with another one with new features and free.” – that actually does not happen for apps which feed on network effects. What happens is that you can create a new “category” and dominate but it is always hard going against dominant players. Twitter’s value is not the app, it is that it has users. You can create your app (like Trump did) but you cannot have those 100m overnight.

Comment: I agree with your reasoning but my question is, if every business continues to emphasise on lean workforce against large profits, how do we keep the budgeoning population employed? The shift today every where is towards leaner workforce but I have my doubts about the efficacy of this ideology

My response: Your concern has been since the days of the British revolution when tractors moved into farms. The irony is this: every generation despite automation and lean, we will need to hire more people to employ. The difference, though, is that it may be in new fields.  Check LinkedIn, there are jobs for CRO (chief remote officer). That did not exist 3 years ago. More jobs are coming. But we have to do away with today to make them possible.

Comment: This explains a lot. And while I very much respect your point as expressed sir, I think the sum of it is that the 1% investors must be fed to their luxurious pleasure even if the 99% ‘expendables’ go hungry. A transfer of the distributed obesity to a concentrated one basically. Oh no. I think SDG 10 “Reduced Inequality” just took another hit.

My Response: ” I think the sum of it is that the 1% investors ” – The 99% I used there was not for investors but middle class.  In 1796, British farmers protested because mechanization (say tractors) would make them lose their jobs. Twitter staff will be fine because there are more jobs in this world which have not been created. Just like those farmers adjusted for new opportunities in England, a living blue bird can seed more promises, not necessarily for those, but for humanity. If you want every graduate in Nigeria to have a job tomorrow, ban the use of computers, phones and laptops in Nigeria. Not sure that is a way to help the UN on its goal!

The Most Necessary Post-Incorporation Company Filings, Partnerships in Nigeria

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Post-Incorporation Company Filings

After the registration/successful set-up of a company, there are usually measures that must be taken by its management as part of its post-registration compliance requirements laid down by the Corporate Affairs Commission (CAC).

This article will be looking at a list of these mandatory post-incorporation filings which can lead to sanctions from punitive fines imposed by the CAC to even striking off the name of a defaulting company from the CAC company register in the event of a compliance default.

These filings are as follows :- 

  1. Registration of increases in Share Capital :- Which must be evidenced by a company resolution.
  1. Notices of changes in the company’s name
  1. Registration of Charges :- Charges are loans taken by a company which must be reflected in its company records and with the CAC. This comes with a 0.35% charge on the loan transaction value imposed by the CAC.
  1. Notices of Voluntary Striking-off :- This is simply the voluntary liquidation by a company asking the CAC to strike off its name from the register of companies.
  1. Annual Return Filings :- This is a foundational post-incorporation filing which must first be attended to by all businesses in Nigeria in order to make every other filing. Failure to send annual return filings to the CAC will attract default fees for each default year. Every company shall deliver an annual return to the CAC except in the year of incorporation/ 1st year of a company’s existence.
  1. Relisting :- This applies to companies that had their names struck off from the register of companies initially and which are seeking to be relisted.
  1. Same-day post-incorporation filings
  1. Notices of changes in the particulars of a company secretary and directors.
  1. Extensions of time to hold Annual General Meetings.
  1. Notices of Exemption :- This is for companies that fall under the exempted company category.
  1. Annual Reports of Foreign companies :- This is a mandatory post-incorporation filing for all foreign companies in Nigeria.
  1. Changes of the company’s status as a public or unlimited company (this must be done within 90 days)
  1. Returns on company share Allotments
  1. Notices of  the appointment/removal of a company auditor.

Corporate Partnerships in Nigeria

Due to the Companies and Allied Matters Act (CAMA) 2020, partnerships which were formerly under the jurisdiction of statutes of general application and the partnership laws of various states of the Nigerian Federation, are now under the jurisdiction of the Corporate Affairs Commission (CAC). 

This article will be dealing with the general Regulatory Framework governing partnerships as business models in Nigeria currently, with a focus on :- 

– What partnerships are . 

– The types of partnerships in Nigeria. 

– The liability coverage applicable to each type of partnership in Nigeria. 

– The requirements for the registration of partnerships in Nigeria. 

What is a partnership? 

A partnership is a legally binding alliance between 2 or more people geared towards the operations of a business on a profit & liability sharing basis. This differs from companies that rely mainly on share structures or guarantees. 

Which businesses are best suited for partnerships in Nigeria? 

The businesses best suited for partnerships in Nigeria are usually Professional service firms such as Law firms, Audit & Actuarial service firms, or companies seeking a quicker alternative to setting up a Consortium structure. 

What are the types of partnerships in Nigeria? 

The types of partnerships in Nigeria currently are :- 

  1. General Partnerships :- This is a partnership involving at least 2 partners agreeing to share the assets , profits and liabilities of the business. 
  1. Limited Liability Partnerships (LLPs) :- A partnership formed and incorporated as an entity separated from its member partners. 
  1. Limited Partnerships :- These are partnerships with at least 1 general partner and a limited partner.

What are the registration requirements for setting up a partnership in Nigeria?

 The requirements for setting up a partnership are :-

– 2 proposed names of the partnership(for limited partnerships & LLPs, the words “Limited Partnership” or  “LP” and “LLP” abbreviations respectively must be attached at the end of each proposed name)

 – A Business & email addresss for the partnership

 – The personal information of all the partners (phone, email & birth date details)

 – Valid means of Identification for all partners.

 – Passport photographs of the partners.

 – An executed partnership agreement.

How long does it take to register a partnership with the Corporate Affairs Commission?

 The registration process for a partnership takes a period of 1 week – 1 month to be completed.

 

Tekedia Capital Cycle Closure and Experimental Model to Protect Invested Principals

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We sent a copy to Tekedia Capital members.

Greetings! We begin by thanking the community for coming big on this Oct/Nov investment cycle. We truly appreciate the partnership. Thank you. Please we have a couple of received funds but the members have not written to indicate the companies we should allocate the funds. If affected, write capital@tekedia.com immediately.

Also, if your bank is delaying your transfers, or you still plan to invest in this cycle, update the team with the amount/startups to enable them include all in the term sheets with startups. We must receive the funds by Friday (Nov 11, 2022), the closure date with startups.

Some Updates:

By Jan/Feb 2023, we will migrate all accounts to capital.tekedia.com. In your dashboard, you will see your positions, agreements, etc. We delayed it to avoid affecting this current round with password, login, etc issues. So, the next cycle will happen at capital.tekedia.com. We will inform you once that is done.

In our efforts to de-risk invested principals, we have been looking at our data. In this video, we share a model which can open a conversation for all members. During our normal Feb meeting, we will discuss this. It is going to be OPT-IN for those interested if members think it makes sense. Read more here if not already in the WhatsApp Group. Link to join WhatsApp Group is in the Board when you login.

To become a member of Tekedia Capital, click here.

Obese Blue Bird: Nigerian Tech Leaders Discuss Musk’s Aggressive Pruning.

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Barely a week after Elon Musk took over ownership of Twitter, nearly half of the company’s workforce, 3,700, have been asked to take their matching orders in a message sent to them via their official email on Friday. The massive layoff has engendered a tough snarl among affected workers, many of whom have threatened with a lawsuit and deactivated their Twitter accounts.

Despite the recent developments, the new Twitter boss appeared to be unruffled. In a tweet Mr Musk was reported to have made on Friday morning, it was made known that the decision of the company to lay off its workers is due to the company’s excessive weight which has been taking a toll on its capacity to stay afloat. According to Musk, Twitter has been losing $4 million per day because of its large workforce…. “This has left the company with no choice but to let some people go” he said.

However, Mr Musk noted that everyone affected by the layoffs has been given three months of severance packages, which is 50% higher than legally required. According to him:

“Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over $4M/day. Everyone exited was offered 3 months of severance, which is 50% more than legally required.”

Musk had earlier announced that users would be made to pay $8 a month to get/retain their blue thick verification badges, an incremental innovation by Musk. Even though this had initially generated negative reactions from some users, the blue bird owner insisted there is no going back on the plan. He tweeted: “Trash me all day, but it’ll cost $8.”

Tech leaders have voiced their concerns about the new development on Twitter. A Linkden post by Olu Akanmu, president and co-CEO of Opay, African based fintech company draws to mind why Musk’s sudden pruning and aggressive posture may be much more than meets the eye. The post went thus:

”Twitter will ultimately be a test of whether the long term performance of an organization is correlated to the moral/employee engagement of its people; whether an organization whose success has been historically driven by some significant moral purpose could remain enduringly successful with inflexion of its purpose into sheer, crude and cold blooded mercantilism; whether it is not true definition of genius that geniuses do not know it all; whether in a complex knowledge world of overlapping games and players, whether an emperor I know it all leadership style can create a sustainable long term value and at what point does genius overconfidenly stretch itself into hubris”

Responding to the post, Eyitayo Ogunmola, founder and CEO of Utiva, a Nigerian based international Edutecth company, said the following:

“The Unseen reality is that there is a cohort of folks (tech and non-tech )that align with the vision and direction of the new leadership.

“I would say this will be about 3 things:

“Are the leaders able to attract the talents that align with the new direction?

“Are they able to push innovations that users desperately want? I think there are million of folks that want the blue thick subscription.

“Are the leaders able to leverage the media controversy to build hype for the brand now?”