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Three sectors global investors are seriously looking at and why

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From when startups started becoming a thing, fintech seemed to be pulling all the funds, particularly in Africa where there was a broken payment system to be fixed, amongst other things. However, recent data suggest that three sectors are beginning to catch the investors’ interest and attract significant funding.

One thing I know is that most investors generally look for sectors where they can get volumes of repeated activities which will translate into revenue. This explains why fintech has been attracting the bulk percentage of funding. In the payments space, there are millions of repeated transactions that translate into revenue and make it easier for the business to grow. In lending, they also look out for short-term lending cycles because they want to make sure that the funds can be recycled in a short time. All of these make for a good market volume and make it easier for the business to scale. I think that investors are also seeing the same trait in these other sectors where they are beginning to inject increased funding.

One of them is the Blockchain technology sector, which covers a lot of startups in cryptocurrency, and very recently NFTs. This sector holds a huge potential across several industries, particularly finance, real estate, and politics. This is also a sector that many governments across the world are interested in, worried about or a little of both. Although the unpredictable crash in prices of cryptocurrency has some people wary of investing, what no one can dispute is that this sector will hold more control over the future than we want to admit right now.

The Blockchain sector is still about people leveraging on money, trying to build instruments that can represent money. People are investing in it, are using it to trade and so it comes down to lots of repeated activities, market volume, and revenue.

Another sector is that of advanced manufacturing and robotics, data also says that we are seeing an increase in funding for this sector as well. Investors seem to be picking interest in them and this is no surprise. The manufacturing sector is one that uses a lot of labor and at a high cost. Businesses in advanced manufacturing and robotics, are really just trying to achieve cost management and efficiency.

Relative to labor costs, the average cost of a robot has fallen by more than half, presenting investors with a potentially lucrative investment. The cash inflow to this sector will increase even more as capital investors begin to see the potential in applied robotics. If you can reduce the production costs, you can make your goods cheaper and more accessible, and still increase your profit margin.

The third one of them is the Agritech sector where startups are using technology to solve agricultural problems. This sector is also attracting significant funding compared to what it used to be before 2018. Pitchbook revealed that as of Q3 2018, the Agritech sector globally had attracted investments of $1.6 billion, with the median deal size in the $10 million range. This figure has increased in leaps every year since then.

The money and market volume comes to play here again because it is known that agriculture has a large market. There is still a lending arm trying to make funds available to farmers within the short planting cycle. Some startups help the farmer with technology that they usually would have paid for and get the returns in form of profit sharing. This is a bit of direct lending. The startups would be providing technology on a large scale in order to reduce production costs and troubles. Another aspect can be helping them with access to the market using technology, which is part of cost-efficiency.

We can also not rule out the fear of a global food crisis which might be doing more to attract funds to the sector. The global population continues to expand at a rapid rate, and in the spirit of sustainable development, food growth has to increase at the same pace. This is why most startups in this sector are either trying to reduce wastage or increase production.

One thing that entrepreneurs can generally pick out of this is that investors favor those businesses that present them with a Short-term revenue opportunity. On the other hand, market volume and recurring revenue are primary drivers of increased investment levels.

X-raying The Abuse Of Power In Africa

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Even if I lack the locus standi to prosecute some persons or officials in our midst, I still strongly believe I’ve some amount of immunity to justify any scenario taking place within my territory.

In other words, most of us are naturally gifted with the initiative and prowess of putting up a judgment over any occurring drama or observation irrespective of our professions.

It could be recalled that in August 18, 2011, Justice Isa Ayo Salami of Nigeria was suspended as the President of the country’s Court of Appeal by the National Judicial Council (NJC) when the said body found him guilty of gross misconduct following his refusal to apologize to former Chief Justice of Nigeria (CJN), Justice Aloysius Katsina-Alu whom he accused of victimizing him for refusing to compromise the then gubernatorial election dispute in Sokoto State.

Subsequently, the Judicial body (NJC) abruptly turned round to recall the principal judicial officer and recommended him to the presidency for reinstatement without stating any reason for the urgent recall.

In its remark, the NJC said that it’s within its constitutional powers to recall and reinstate any justice of the Court of Appeal, or any court of competent jurisdiction, and does not require the President’s consent.

Come to think of it, if truly the presidential immunity was not required or that they don’t owe the presidency any reason whatsoever for the recall, why did they find it difficult to understand that the public opinion or view was of high importance in any action meant to be taken by the body?

More so, a few weeks earlier, the then Nigeria’s President, Dr. Goodluck Jonathan granted a presidential pardon to the convicted former Governor of Bayelsa State, Diepreye Alamieyeseigha and the ex-Managing Director of the Bank of the North, Mr. Shettima Bulama, among others based on the decision taken by the Council of State.

The bitter and controversial side of the story was that such a decision was taken without minding or considering the anticipatory reactions of the citizenry or the general public. This means that the action was taken out of personal interest.

The funniest part was that, Chief Alamieyeseigha was extricated while the United Kingdom (UK) was still seeking for his extradition to the (UK) to be tried for a crime he allegedly committed.

On the other hand, sometime ago, one of the banner headlines of The Punch Newspaper read, “Akpabio admits rigging primary election”. The inside of the Page 8 of the paper stated that the then Akwa-Ibom State Governor, Chief Godswill Akpabio, who is now the Minister of Niger-Delta Affairs, allegedly confessed that he manipulated the result of the 2007 People’s Democratic Party (PDP) Senatorial Primary election in the State by single-handedly replacing the winner with the name of his preferred candidate.

Based on what the said paper wrote, the then sitting governor said the manipulation was necessary in order to give the people of Ikono and Ini LGAs a sense of belonging. According to him, the people of the aforementioned LGAs were yet to produce a senator since 1960 till 2007. Consequently, his political equation yielded the emergence of Sen. Aloysius Etok who hails from the affected area.

Notwithstanding, even if the group in question was yet to produce a senator, did it call for rigging? Also, if truly that rigging was imposed as published, must it be confessed to the public hearing, thereby portraying impunity? That could best be described as impunity begotten by extreme immunity, which has hitherto been the case on the African continent.

Apart from the above anomalies, many similar phenomena have been lingering on the socio-political rostrum of most countries in Africa. Such a phenomenon has become a recurring decimal that one cannot just fathom the number of times it takes place in our polity on a daily basis. In recent times, it seems Nigeria has suddenly become the engine room of such anti-social act.

The public office holders or the political leaders in Africa, particularly Nigeria, should endeavour to live up to the expectations of their subjects. They ought to learn how to carry the entire public along in their respective scheme of works or obligations.

For sanity, or effective and efficient democratic system, to be actualized in the Nigerian State and that of other African nations, the rule of law or due process must be properly adhered to, by the concerned authorities. Hence, the congress/public opinion must not be left out before carrying out any action.

Nigeria as a country is obviously and indisputably of age, thus old enough to know her right from her left. Therefore, she must endeavour to tell herself nothing but the truth if we are sincerely determined to embrace the anticipated change.

Sixty one years as an independent nation, and over a century as an entity, is enough numbers that can guarantee a concrete existence as a people.

Meta Agrees to Pay $90m in Settlement for Tracking Users Offline

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Meta’s private data problems keep coming around even when everyone thinks the social behemoth has got a break. Besides current cases emanating from tighter scrutiny by antitrust watchdogs, cases from the past keep resurfacing.

Earlier this week, Facebook agreed to a multimillion dollar settlement for a decade-old lawsuit. The 2012 suit said Facebook used plug-ins and cookies to track visits to third-party websites containing “like” buttons.

Meta agreed to pay $90 million to settle the lawsuit that would be one of the 10 biggest data privacy class action settlements ever if approved. The proposed settlement was filed late Monday and still requires court approval, according to court documents.

Meta has so many fresh antitrust concerns and has been fighting to keep its head up amid the drowning impact. Lately, GDPR, Europe’s data privacy watchdog, has been tightening its rules, making it more difficult for Facebook to harvest data for targeted ads.

The 10-year old lawsuit has dragged along many other cases that came along, prompting Facebook’s decision to move for settlement. Insider reports below that the events leading to the lawsuit involved improperly-collected data that took place about 12 years.

The 2012 lawsuit alleges that, between April 2010 and September 2011, Facebook violated privacy and wiretapping laws by using plug-ins to store cookies tracking users’ visits to third-party websites that contained “like” buttons. The social media site had users’ permission to track them while they were logged in but promised to stop when they logged out.

Besides the $90 million sum, which would be distributed among affected users, the settlement would require that Facebook delete data improperly collected on users through the use of this practice.

Meta did not immediately respond to Insider’s request for comment, but a spokesperson told Variety, “Reaching a settlement in this case, which is more than a decade old, is in the best interest of our community and our shareholders and we’re glad to move past this issue.” As part of the settlement, Meta denies any wrongdoing.

The lawsuit was dismissed in 2017 when a federal judge said the plaintiffs failed to show they had a reasonable expectation of privacy or that they suffered economic harm. In 2020, a federal appeals court revived the case, saying there is economic harm in such a situation. Facebook tried to have the Supreme Court take up the case, but it declined, allowing the federal appeals court’s decision to stand.

Last year, Facebook agreed to pay $650 million to settle a separate privacy lawsuit, this one alleging the company’s tagging feature violated an Illinois law prohibiting the collection of biometric data without prior notification and written consent. On Monday, Texas Attorney General Ken Paxton announced the state is suing Meta over Facebook’s now-defunct facial recognition program.

Two weeks ago, Meta threatened to pull out of Europe over the decision of regulators to halt the social media giant from transferring data from European users to the United States. These unending cases are stifling Meta’s chances at growth. The company started the year at nearly $1trillion valuation, but has lost about $250 billion, taking its valuation to around $600 billion.

Oxford University,  i mere nke oma n’asusu Igbo

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Poor UNN and Abia State University. Now the politicians have another reason to travel to the UK to study, and possibly leave both behind. Yes, have you studied Igbo in Oxford? Lol. Congratulations Oxford, all of us are coming to study Igbo.

Seriously, I congratulate Oxford even as I continue to thank Google. Google is driving most of the core developments in Igbo Language since Prof FC Ogbalu and co worked on the 1978 Igbo Convention, and pushed for Igbo Izugbe with the evolution of modern Igbo alphabets (Mkpuru Edemede Igbo) to 36. I was still in primary school when we added “ch”.

Just recently, the University of Oxford, England introduced the teaching of the Igbo language as a course in its institution. The University inducted Mr. Emmanuel Ikechukwu Umeonyirioha as the first official Igbo lecturer in the University. The University of Oxford is known to have offered modern languages since 1724 with the Igbo language as its latest entry. Feeling ecstatic, Mr. Emmanuel took to his Twitter page to disclose this groundbreaking achievement.

In his words, “It is official that I am the first official Igbo language lecturer at the number one university in the world, the University of Oxford. Our induction happened today by Mario Sadoux, head of modern language programs, University of Oxford language center. This became possible in the account of the James Currey society. This is the first time the Igbo Language will be taught at the University. History has been made. I am so happy and grateful for this opportunity. I promise to make the Igbo language and culture known to the world”.

Any “c” written in Igbo without “h” is not Igbo Nzugbe as “c” cannot exist in Igbo without “h”. So, you have “ch” like Chioma. My senior Igbo teacher in secondary school, Papa Iyke, was unforgivable for such a mistake; 

More so, they restructured the translation of English to Igbo and vice versa. For example, to translate “The man is a fox”, figuratively, to Igbo, you do not write that the man is “nk?ta ohia” which is a direct Igbo name for fox. Rather, you write that the man is a tortoise because while the English know fox as a cunning animal, the equivalent animal in Igbo is tortoise. So, you say the man is “mbe”, Igbo name for tortoise.

Oxford,  i mere nke oma. Adi m njikere ikuziri. Enyere m akara A n’asusu Igbo na WAEC (Oxford, you have done well. I am available to teach. I made A in Igbo in WAEC)

University of Oxford Adds Igbo Language to Special Curriculum

 

 

University of Oxford Adds Igbo Language to Special Curriculum

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Just recently, the University of Oxford, England introduced the teaching of the Igbo language as a course in its institution. The University inducted Mr. Emmanuel Ikechukwu Umeonyirioha as the first official Igbo lecturer in the University. The University of Oxford is known to have offered modern languages since 1724 with the Igbo language as its latest entry. Feeling ecstatic, Mr. Emmanuel took to his Twitter page to disclose this groundbreaking achievement.

In his words, “It is official that I am the first official Igbo language lecturer at the number one university in the world, the University of Oxford. Our induction happened today by Mario Sadoux, head of modern language programs, University of Oxford language center. This became possible in the account of the James Currey society. This is the first time the Igbo Language will be taught at the University. History has been made. I am so happy and grateful for this opportunity. I promise to make the Igbo language and culture known to the world”.

Ever since the news broke out, congratulatory messages have been pouring in especially from Nigerians commending Dr. Emmanuel for such a great feat and also acknowledging Oxford University for deeming it fit to add the Igbo language to their special curriculum. The Igbo Language, culture, and tradition seem to be gaining massive recognition lately. A few years ago, BBC worldwide service and BBC Africa became the first international broadcaster to set up an Igbo language service. Also last year the Igbo community recorded a remarkable achievement as the Igbo Apprenticeship system ” Igba Boi” was approved by Harvard Business School London as proposed by erudite Professor Ndubisi Ekekwe. There seems to be no stopping for the Igbo community as some of its sons relentlessly continue to project their culture and tradition on the world map.

The feeling of knowing that the Igbo language is now being studied at Oxford University is unquantifiable. UNESCO in 2012 predicted that the Igbo Language might become extinct in the next 50 years. This achievement will not only preserve the proposed “dying language” but it will give rise to the Igbo language being spoken in Europe not just by Nigerians In Diaspora but Europeans inclusive. This is indeed a huge step to sustain the dying Igbo Language.

I would not fail to acknowledge the Late Professor Chinua Achebe who through his books projected the Igbo language to the world. He once stated that writing in English, the language of the imperialist conquerors of Nigeria didn’t really pass his message ideally. Achebe’s stated goal was to create a “new” and more African English. He integrated Igbo words and phrases, proverbs, folktales, and other elements of communal storytelling into the narrative to record and preserve African oral traditions and to subvert the colonialist language and culture.

Now that the Igbo Language has gained global recognition, this should be a wake-up call to schools in Nigeria especially those in the Southeast region. There should be proper advocacy to encourage the promotion and speaking of Igbo Language amongst school children. According to research, it states that an average child enters the classroom with about 6,000 vocabularies in their mother tongue. When the child has no background knowledge of the mother’s tongue, proper comprehension of the language can pose a challenge. It is important to note that when a language dies, future generations lose a vital part of the culture that is necessary to fully understand.