Innovation wins the future, and it does that by improving systems and processes. While here we preach the message of entrepreneurial capitalism, it is important we remember that besides markets, there are many critical pillars to advance communities. So, it was truly amazing when I read that the Sahara Foundation of Sahara Group, through the Sahara Impact Fund and partners LEAP Africa, Ford Foundation, and Impact Investors Foundation, is focusing on training, mentoring and equipping young people to become measures ‘for doing the right thing’ against all odds.

Across Africa, that is the major #WIN we need, in markets, government houses, boardrooms, schools, etc, because if the operating system of our existence is built on the fabric of doing the right things, a virtuoso circle will form, triggering abundance in our beautiful continent.

To the Sahara Impact Fund Fellows, congratulations for completing the three-month program. Tekedia Institute salutes everyone. Go and build that sustainable environment by scaling positive energies in your communities. As big brother Obama eloquently said “We are the ones we’ve been waiting for. We are the change that we seek.” #do right always.

Full press below.

 –Press Release

Sahara Foundation, the personal and corporate social responsibility vehicle for Sahara Group, in collaboration with LEAP Africa, Ford Foundation, and Impact Investors Foundation celebrated its 2021-2022 Sahara Impact Fund (SIF) Fellows whose businesses are set to promote sustainable development across Africa.

The Fellows were honoured at the LEAP Africa Social Innovators Programme & Awards (SIPA) ceremony which held on Thursday, 8 September 2022, at Eko Hotels & Suites, Lagos, Nigeria.

This year’s SIPA event themed ‘’Reawaken, Redesign and Re-emerge: Africa Beyond Potential’, drew speakers and panelists from across Africa, Europe, and North America to discuss challenges that impede Africa’s growth and development with a keen focus on social entrepreneurship while providing novel strategies to enable the much-desired transformation.

Speaking at the event, Pearl Uzokwe, Executive Director at Sahara Foundation, lauded the Fellows for their efforts in creating innovations that promote social impact. “We are excited to be part of this transformative partnership that is committed to bringing sustainable change to the African continent. We are also proud of our Fellows who have risen above the structural limitations and social barriers to solve societal problems. I urge you to put your training to good use, think beyond the profit and focus on doing good and doing well”, Uzokwe said.

Present at the event to receive their awards, were 11 SIF Fellows from across 7 African countries.  They include Aminu Moses Rex, Michael Osumune, Olawale Thompson, Aliyara Assurance Oluchi, and Oluwamayowa Salu, from Nigeria. Also awarded were James Thuch Madhier from South Sudan; Ligare Allan Muliru from Kenya; Siwelwa Lazarous from Zambia; Lamin Ceesay from The Gambia; Gadi Banda from Malawi; and Albert Moghomaye from Cameroon.

Ndidi Okonkwo Nwuneli, Founder, LEAP Africa, commended the partners for supporting the initiative and reiterated the need for impact investments for social entrepreneurs to scale sustainably.  She said, “We recognise that youth leadership and inclusion are critical to wealth creation and development across the continent’’. Nwuneli commended the African youths for leveraging their entrepreneurial abilities and innovation to solve Africa’s social problems, adding, “LEAP Africa will continue to raise and empower a movement of young African social entrepreneurs and enterprises capable of transforming Africa into the Africa of our dreams.”

Sahara Foundation, through the Sahara Impact Fund (SIF), leverages the LEAP Africa’s Social Innovators Programme to bridge the gap in social innovation and social entrepreneurship, and foster relations amongst African innovators. It serves as a platform to equip young entrepreneurs with the requisite skills, knowledge and network that enables them to scale their enterprises sustainably and, in turn, impact the society bringing about positive social change through their business ventures.

The three-month Fellowship programme which combines virtual learning and in-class experiences, through its ‘governance unusual curriculum’ challenges the Fellows to be the measure ‘’for doing the right thing’’ against all odds. This inspiring mindset has the potential to turn them into impactful business leaders with the potential to influence a positive cultural paradigm shift and promote a movement of people who willingly and consistently choose to do the right thing.

The programme which helped equip Fellows with the knowledge, skills, and proven methodologies they require to improve their business models and scale profitably, ended with the recognition of outstanding SIF Fellows at the LEAP Africa Social Innovators Programme & Award Ceremony (SIPA).

The Sahara Impact Fund connects social innovators to a network of potential investors, partners, clients, and customers as Sahara Foundation continues to build the next generation of leaders to accelerate Africa’s growth.

With a focus on “increasing access to energy” and “building sustainable environments”, Sahara Group, through the Sahara Foundation is committed to impacting lives and building sustainable societies in Africa.

We began with refurbishing foreign generators, and turned old or used generators to become like new. The new phase is to assemble/design generators with most of the parts sourced locally. Since January, we’ve been working with the government to ensure quality standards.

The factory will be at Enugu and we estimate to produce thousands of units per week to use in Nigeria and export across Africa. Our price model for the same capacity foreign brand will be at 40% of cost.

Here is the design; it will work on gasoline (i.e. petrol) and cooking gas. I am proud of what young Nigerians are doing, and even happier that when you provide small guidance, great things are happening. I commend Ugoji Harry for exceptional leadership and executing on the playbook. The goal is to list this business in the stock market. Learn more about Egoras, Africa’s largest refurbishment retailer.

Tekedia Capital >>more than money, we provide world-class engineering support to builders and innovators in a clinically packaged business model. Next investment cycle begins on Monday, Sept 19, 2022. Register here 

On that hated poll in the current electoral calendar in Nigeria, the headlines by leading newspapers panicked and troubled many stakeholders. Magically, Vanguard, a highly respected national brand, put it in the minds of citizens that yes indeed Peter Obi “leads”. Since in politics, when you are arguing or complaining, you are losing, it was then left for APC and PDP to fight on that declaration.

The Labour Party stayed over the fray while others were arguing over statistics. The headlines were more politically lethal than the polls as they changed the perceptions of the citizens. 

I have gone through the headlines and can conclude: if Peter Obi ends up winning the presidency, the newspapers in Nigeria are the catalysts. They cemented what many felt was an effervescence into a stable solid state political movement [Mr Udeagu Jr who taught me Chemistry in secondary school, thank you].

Ndubuisi: “Mother, why do they say my eyes are big”

Mother: “They are jealous since you need big eyes to see mathematics better”

After she gave me that answer, and I used it  to respond to two bullies in school, they never made that joke again, as they wished they had bigger eyes since I was “seeing” mathematics better.

The newspaper headlines gave Obi a really great answer: “2023: Peter Obi leads…” Yes, he “leads” even if that is just a “a presidential poll”. Please plan to vote as electoral polls, unlike others, have results because elections happen!

The Most Hated Poll Right Now in Nigeria and the Road to Aso Rock in 2023

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Comment 1: Perception is everything……the trailing PDP & APC did not see the Obi’s LP third force coming from their earlier permutations, they are currently playing catch up and need to go back to the drawing board and restrategize if it’s still possible

The crypto-triggered evolution of Central Bank Digital Currency (CBDC) has come with a contagious wave that is catching up with economies across the globe.

On Friday, the White House indicated that the Biden’s administration is moving a step closer to developing a CBDC, a push it’s making to cement dollar’s leading role in the global financial system.

This came on the heels of China’s push for the adoption of its own digital currency eYuan.

The White House said the US’ development of a digital currency took off in March after President Joe Biden issued an executive order calling on a variety of agencies to look at ways to regulate digital assets.  The agencies came up with nine reports, covering cryptocurrency impacts on financial markets, the environment, innovation and other elements of the economic system.

Cryptocurrency, which is perceived as a threat to fiats, stirred the world’s consciousness on the need for a digital currency alternative – pushing the growing trend of countries creating a digital version of their fiats.

China’s move to create eYuan rattled the US as it was seen as a potential vehicle for the yuan to topple the US dollar in the global financial system, prompting Washington to launch a quick study on how to develop its own digital currency.

Part of the task given to agencies by the Biden’s administration is to create a policy framework for a potential digital currency.

Treasury Secretary Janet Yellen said one Treasury recommendation is that the U.S. “advance policy and technical work on a potential CBDC, so that the United States is prepared if CBDC is determined to be in the national interest.”

“Right now, some aspects of our current payment system are too slow or too expensive,” Yellen said on a Thursday call with reporters.

Apart from the US and China, other countries, including G7 members, are also developing policy frameworks for digital currencies or are already trialing it for adoption. Nigeria has already launched its own dubbed the eNaira.

The trend was noted by the Atlantic Council nonpartisan think tank, which said that 105 countries representing more than 95% of global gross domestic product already are exploring or have created a central bank digital currency.

However, the council found that the U.S. and the U.K. are far behind in creating a digital dollar or its equivalent.

The Biden’s administration’s policy framework has to be developed using reports from different agencies. The Treasury, the Justice Department, the Consumer Finance Protection Bureau, the Securities and Exchange Commission and other agencies were tasked with contributing to reports that would address various concerns about the risks, development and usage of digital assets. Several reports are expected to be out in the coming weeks and months.

However, several experts quoted by AP shared different opinions on the report, cryptocurrency and the US’ late move to develop a digital currency.

Eswar Prasad, a trade professor at Cornell who studies the digitization of currencies, said Treasury’s report “takes a positive view about how a digital dollar might play a useful role in increasing payment options for individuals and businesses” while acknowledging the risks of its development.

He said the report sets the stage for the creation of agency regulations and legislation “that can improve the benefit-risk tradeoff associated with cryptocurrencies and related technologies.”

The Blockchain Association, which lobbies lawmakers on Capitol Hill, said in a statement that the White House reports are “a missed opportunity to cement U.S. crypto leadership.”

“These reports focus on risks — not opportunities,” the statement reads, “and omit substantive recommendations on how the United States can promote its burgeoning crypto industry, including job creation, improvements to the financial system, and expanded access for all Americans.”

On Capitol Hill, lawmakers have submitted various pieces of legislation to regulate cryptocurrency and other digital assets.

Sheila Warren, CEO of the Crypto Council for Innovation, said in an emailed statement that the report “seem to kick the can down the road” she said, “we don’t see clear recommendations.”

The director of the National Economic Council, Brian Deese, told reporters that “we’ve seen in recent months substantial turmoil in cryptocurrency markets and these events really highlight how, without proper oversight, cryptocurrencies risk harming everyday Americans’ financial stability and our national security.”

“It is why this administration believes that now more than ever,” he said, “prudent regulation of cryptocurrencies is needed.”

He said on Friday that the Administration plans to “execute a comprehensive action plan with priority steps to mitigate key risks of cryptocurrencies — among others, money laundering and financing for terrorism.”