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Home Blog Page 5314

Still On Nigeria’s Technology For ‘Kilishi’ Production

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The call of a good and lovely friend of mine residing in Germany filtered in just in the early hours of 7th October, 2020 immediately after my usual morning devotion.

In his usual style of asking about Nigeria, after exchanging pleasantries, the dude said “Comrade Fred, why is Nigeria still lagging behind in the area of technology despite the alarming need for it?” I didn’t know what actually informed his question.

In my normal way of making my response succinct and apt, I told him “The country will remain where she is until she truly understands the prime essence of research and innovation.”

I nevertheless further notified him that some of the individual capacities in the country were currently making waves as regards technology, but apparently discouraged by the lingering lack of enabling environment.

Lest I digress; two years back, a serious melodrama ensued on the floor of the Nigeria’s National Assembly (NASS) – the Upper Chamber to be precise – when the Director General (DG) of the Nigeria’s Raw Material Research and Development Council (RMRDC), Prof. Hussain Ibrahim appeared before the Senate Committee on Science and Technology.

When asked by the Committee Chairman, Sen. Uche Ekwunife to inform Nigerians how the agency had thus far fared since her thirty-three years of existence, the DG graciously stated that the Council had developed a technology for mass production of ‘Kilishi’.

According to the professor, the aforementioned development regarding manufacturing of Kilishi remained a major breakthrough since the creation of the research-oriented council.

It’s noteworthy that Kilishi is a locally-spiced roasted meat made of beef. It’s very popular mainly in the Northern part of Nigeria. The product is similar to ‘Suya’, though tastes better and more palatable according to the consumers.

Prior to the above response, the DG was actually asked by the Senate panel to tell the teeming Nigerian citizens the specific raw material the agency had successfully produced in the country in partnership with other research institutes.

Prof. Ibrahim opined that in spite of the Council’s “lack of laboratory, we have reached milestone”. One might be wondering if it was development of tech-driven measures for optimization of Kilishi production that took the agency to ‘milestone’.

In a further quest of the committee, the DG was asked “Can you tell us the local raw materials you have developed in the area of health, brewery, construction, science and technology, or agriculture?”

The boss responded “We have developed two varieties of sorghum. We collaborated with agricultural research institutes, pharmaceutical industries because we produce ethanol from it and that is the basic raw material for the production of sanitizers.”

The DG equally highlighted “From the sorghum, we developed other products like glucose syrup, livestock feeds, materials for breweries and starch.”

The last sentence triggered more reactions towards clarifications, hence the committee further enquired if the Council had developed the Glucose Syrup to the stage where Nigeria would no longer import it.

Prof. Ibrahim strongly said, “We have not reached that stage. It goes through processes. We have tested it but the stage we are now is the pilot stage.” At this juncture, if your thoughts are as good as mine, you would then wonder if the pilot stage lasts more than three decades before the research process gets to the next level.

As if that wasn’t enough, the boss stated, “In our 30 years of research activities, we are still the largest research institute. But to be candid with you, we are making progress.”

But was the boss trying to assert that the Council was the largest in Nigeria, Africa or where precisely? Sometimes, one cannot help but remain astonished and puzzled over the manner of speech we invariably receive from some of these so-called professors or Nigerians in positions of authority.

Funnily enough, Prof. Ibrahim then landed with alacrity by enthusing “For now, we have developed technology to optimize kilishi production. Research activities take time. To be candid, we have reached milestone.”

Can you imagine? After about 3 decades of existence, someone was still asking for more time. What kind of time was he really referring to? One question, too many. Any discerning citizen of this country that watched the video clip of that very outing, I bet you, would hate himself for being a Nigerian.

It’s worth noting that the professor’s submission led to a prolonged laughter from the audience but rather drew the anger of the lawmakers (panelists). A member of the panel, Sen. Clifford Ordia then furiously uttered, “Is this the success story you are going to tell us after 33 years?”

In the 21st Century, we were being told by a professor that a technology had been deduced for Kilishi production. Away from that, we were still boggled with the information concerning sorghum, a commodity that can now be comfortably produced by even our secondary schools’ students.

Personally, I wasn’t really dumbfounded over the professor’s outrageous comments, because he was coming from an institution – Nigerian university – where research works have over the years been relegated to the background.

Aside from classroom teaching, research was the major reason that informed the establishment of universities across the globe. But it’s quite appalling that in this part of the world, particularly Nigeria, they are rather seen as places meant for only lecture rooms or auditoriums, thereby leaving our laboratories to suffer.

That annoying melodrama that occurred in the NASS, precisely on 8th June 2020, between the DG of the RMRDC and the Senate Committee truly had revealed that we are the reason Nigeria is where she is today in regard to technology and allied matters. That’s the kind of outing my pal in Germany needs to witness.

Had it been the appointment for the headship of the Council (RMRDC) was not granted to a professor, we would have perhaps been bitter over the gesture of the President. Please, don’t get it twisted; I’m not trying to ridicule our eminent professors who are widely regarded and addressed as the most learned persons in the world. After all, I’m aspiring to become one someday.

But that doesn’t override the fact that some of these ‘professors’ are just a shadow of themselves. The sound ones among them can boldly attest to this unequivocal assertion. Read my lips!

Lest I forget; away from competence and diligence to duty, we can’t possibly forget in haste that Nigeria as a country is still lagging behind as regards funding of research works and commercialization of patents, let alone creation of an enabling environment.

Over six years ago, Nigerians were promised by a serving minister that the country would soon be producing mere pencils, yet till date, we are still living in anticipation. How did we get here?

Once Again, India Bans 50 Chinese Apps on National Security Ground

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India, like the United States, is wary about Chinese apps. The South Asian country has been on a ban spree to limit the operation of Chinese apps that have for years dominated its market.

The ban intensified in 2020, following a territorial conflict between India and China, but slowed down after several Chinese apps were permanently banned. Now, the Indian authorities are once again, shutting apps with Chinese links.

India has banned Tencent’s Xriver, Garena’s Free Fire, NetEase’s Onmyoji Arena and Astracraft and 50 more apps with apparent links to China, the latest in a series of similar blockings over the past one and half years on national security grounds. TechCrunch has the report.

Some of the newly prohibited apps, which include Sweet Selfie HD, Beauty Camera, Viva Video Editor, AppLock and Dual Space Lite, are clones or rebrands of many of the over 300 apps affiliated with Beijing that New Delhi has banned since mid-2020 amid escalating geopolitical tension among the two neighboring nations over protracted border dispute.

The South Asian nation’s Ministry of Electronics and Information Technology, citing the Section 69a of the IT ACT, 2000, placed the order, according to a person familiar with the matter.

In a statement, a Google spokesperson acknowledged the order and said the firm was complying.

“On receipt of the interim order passed under Section 69A of the IT Act, following established process, we have notified the affected developers and have temporarily blocked access to the apps that remained available on the Play Store in India,” a Google spokesperson said Monday.

“Garena’s Free Fire: Illuminate,” which has already been pulled from Google Play Store and Apple’s App Store in India, appears to be the most popular app to be blocked in the latest batch.

The Southeast Asian giant Sea-owned battle royal game had over 40 million of its 75 million globally monthly active users in India in January, according to analytics firm App Annie, data of which an industry executive shared with TechCrunch. Sea, which counts Tencent among its largest backers, is quietly also testing its social commerce Shopee in India.

The news of the ban has come as a surprise to Garena’s team in India. The firm was chasing deals with tournament organizations to further promote its game and attract more users and high-profile gamers in the country, a person familiar with the matter told TechCrunch. Sea did not have an immediate comment on the development.

The series of app blockings in India began in late June 2020 when the world’s second largest internet market banned TikTok, Alibaba’s UC Browser and Tencent’s WeChat and dozens of other apps with links to China over national security concerns.

New Delhi, which has never explicitly mentioned China in these announcements, did not make an official statement on its move Monday. With most of the previous bans, New Delhi has said the way the apps have compiled, mined, and profiled users’ data posted risks to national security and defense of India.

In the past one and a half years, the Indian government has banned over 300 Chinese-linked apps including popular title PUBG. That game remains the only known app that has made a return to Google Play Store and Apple’s AppStore in India in some way.

Several other firms and app operators have attempted to address New Delhi’s concerns, but the Indian government retained its decision early last year after deeming the responses inadequate.

India is by far the largest market globally by app installs. Last year, the South Asian nation clocked over 25 billion downloads, according to App Annie.

US giants as well as firms from other nations including China and South Korea aggressively focused on India in the past decade as they looked for the next great growth region. In comparison, only a handful of Indian firms operate in China.

After India refused to revoke its ban on TikTok, ByteDance (the app’s parent firm) laid off the vast majority of its employee base in India and recently shut down its edtech business in the country, TechCrunch reported.

TikTok’s ban in India, which prompted several local startups to launch short video apps, gain traction and raise over $1 billion, did not make much impact on ByteDance’s revenue as the firm made deep inroads in several other overseas markets. Indian social network ShareChat and on-demand streaming service MX Player said last week they were merging their short-video apps in the country in what TechCrunch reported is a $900 million deal.

Flutterwave Raises $250M at Valuation of $3B to Become Nigeria’s Largest Financial Institution

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CEO of Flutterwave

It is now official: Flutterwave is the largest financial institution in Nigeria. Yes, its valuation is bigger than any bank in Nigeria by at least a billion dollars. Just this weekend, in Tekedia, I dropped this potential $3 billion number, as I discussed innovation, and creating a new basis of competition in markets.

Yes, this morning, Flutterwave announced that it has secured $250m in Series D funding led by B Capital Group, resulting in a valuation of over $3bn. I left a message on WhatsApp to CEO Olugbenga ‘GB’ Agboola with “Your continent salutes you…Nations rise when great entrepreneurs emerge. Thank you for changing your nation and continent.”

In the past five years, Flutterwave has been on a mission to create endless possibilities for customers and businesses in Africa and the emerging markets. To date, the company has served over 900,000 businesses, processed over 200M transactions worth over USD $16B across 34 countries in Africa. With the Series D funding, Flutterwave will accelerate customer acquisition and growth through M&A as well as develop complementary products.

The next destination: ringing the bell by next year in New York. This type of ascension will become common because 9 new unicorns are joining by Dec 2023 in Africa. Yes, the digitization of Africa’s economies will be decades-long.

==Press Release======

Flutterwave, a leading technology company, announced today that it has raised USD $250 million in Series D funding, valuing the company at over $3 billion as the brand continues to transform the way Africans transact on the continent and worldwide

Flutterwave has become the highest valued African start-up with this investment. It is a validation of African talent, innovation and its young inspiring people. It is also a huge endorsement in the growth of the business, innovation and technology landscape in Africa.

Flutterwave’s latest backers include some of the world’s most respected investors led by B Capital Group, and with participation from Alta Park Capital, Whale Rock Capital, Lux Capital, among others. Several existing investors who also participated in previous rounds also followed this round, including, Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital and Salesforce Ventures. The new funds will drive Flutterwave’s ambitious expansion plan to accelerate customer acquisition in existing markets and growth through M&A, and develop complementary products while encouraging new innovations in its products and services development.  The Company will share more details during the Flutterwave 3.0 event.

Since its inception in 2016, the Flutterwave team has been on a mission to create endless possibilities for customers and businesses in Africa and the emerging markets. The Series D fundraise comes on the back of an impressive run of five years in which Flutterwave has processed over 200M transactions worth over USD $16B to date across 34 countries in Africa. It also follows a year of rapid growth for the brand which now serves over 900,000 businesses across the globe.

In 2021, Flutterwave launched a range of new products including Flutterwave Market for merchants to sell their goods via an online marketplace and, most recently, Send, a remittance service that empowers customers to seamlessly send money to recipients to and from Africa. Flutterwave has also partnered with leading global and pan-African technology and telecommunication companies such as PayPal, MTN, Airtel Africa to drive financial inclusion on the continent and create endless possibilities for customers who can build customisable payment applications through its APIs.

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said “Our story is that of resilience and hard work. Our growth so far is due to the support of our customers, our partners, the banks, the public, the regulators, and importantly our people. The Central Bank of Nigeria, under the leadership of Dr. Godwin Emefiele, laid the vision of a transformational Payment System in Nigeria, provided the framework for innovation in this space, and has continued to create regulations that have enabled us to grow and thrive. We are grateful to them and to all the other Central Banks in all the countries where we operate. We set out to build a platform that simplifies payments for everyone and today, our solutions are used across the globe to connect Africans to the world and the world to Africans. We are delighted that investors believe in us and our story and are committing their resources to this belief. This latest funding demonstrates the conviction of some of the world’s leading investors in both our business model, team and the Africa technology market. It gives Flutterwave the much-needed support to deliver on our plans to provide the best experience for our merchants and customers around the world.”

Matt Levinson, Partner at B Capital said, “At B Capital, we seek to back generational companies with broad platform potential. Flutterwave has a unique opportunity to accomplish this as the dominant payments infrastructure provider across Africa. In addition to their emergence as the leading enterprise payments processor for the continent, Flutterwave is innovating at breakneck speed with novel fintech solutions for large corporates, SMEs and consumers. I’ve had the pleasure of backing this world-class team since 2017 and couldn’t be more thrilled that B Capital is leading their Series D. Flutterwave may ultimately build one of the most consequential fintech business in the world, enabling hundreds of thousands of merchants to transact online and connect Africa to the global economy.”

David Glynn, Managing Partner of Glynn Capital, said: “We believe the digitization of payments globally is one of the largest and most important trends in technology. Having been investors in Flutterwave since 2017, we have had a front row seat in seeing Flutterwave establish itself as a leading payments company in Africa as it drives adoption of seamless digital payments experiences for merchants and consumers alike. We look forward to supporting the company as it addresses its significant growth opportunity in the years ahead.”

This latest fundraising has seen Flutterwave’s valuation more than triple since its last funding round in March last year when it became one of Africa’s fastest-growing Unicorn.

Register for Tekedia “Igba-Boi: The Igbo Apprenticeship System” Program

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The first academic program on “Igba-Boi: The Igbo Apprenticeship System” has been unveiled by Tekedia Institute. Check the academic curriculum. Program will run April 4 – May 28, 2022

Tekedia Institute has opened registration for “Igba-Boi: The Igbo Apprenticeship System”. The program is designed to run for 8 weeks, and is structured to prepare learners on the mechanics of the Igbo business worldview philosophy of entrepreneurial stakeholder capitalism where everyone rises, and not just a few. The program includes pre-recorded videos, written materials, cases, etc.

Click and check the full curriculum. It  will begin April 4 to end May 28, 2022. The cost is $100 or N45,000. Register here.

Upon graduation, we will award Tekedia Institute Advanced Diploma in Igba-Boi: The Igbo Apprenticeship System.

“The Igbos in Africa have been practicing for centuries what is today known as stakeholder capitalism”, we wrote in Harvard Business Review. In Tekedia Institute, we recognize that as the Umunneoma Economics (economics which works for all) and it looks more promising than Adam Smith Economics. This program will provide the tools, processes and elements necessary to not just understand Igba-Boi, but practice it in markets, in modernized ways.

7th Edition of Tekedia Mini-MBA Begins, Registration Continues…

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Welcome to Tekedia Institute. We run an amazing business school which has attracted professionals and students from 39 countries. Our Faculty members come from Microsoft, Shell, Flutterwave, Nigerian Breweries, Jobberman, Coca Cola, and other great organizations. Thrice weekly, I personally coordinate live Zoom sessions on the mechanics of business systems. We bring our Faculty and Guests on those sessions, covering industries and business domains. REGISTER today and join us! – Prof Ndubuisi Ekekwe, Lead Faculty.

Invent, innovate and drive organizational transformation, performance, and growth. Capture emerging opportunities in changing markets while optimizing innovation and profitability. Digitally evolve your business or functional area, turning digital disruption into a competitive capability and advantage. Master the concepts of building category-king companies, and thrive.

Registration for the 7th edition of Tekedia Mini-MBA (Feb 7 – May 7, 2022) opens. Tekedia Mini-MBA, from Tekedia Institute, is an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents. Our programs are designed for ALL sectors, from fintech to construction, healthcare to manufacturing, agriculture to real estate, etc.

More so, the sector- and firm-agnostic management program comprises videos, flash cases, challenge assignments, labs, written materials, webinars, etc by a global faculty coordinated by Prof Ndubuisi Ekekwe. When we finish, we will issue a certificate from the Tekedia Institute, Boston USA.

Register and join us. You will emerge transformed with tools and capabilities that engineer confidence, performance and growth.  Accelerate your leadership ascent with us! Here are our programs and costs.

How To Register

Group Registration Benefits

For bulk registration, the following benefits exist:

  1. Discount: Discounts based on number of participants.
  2. Growth Hour: A private Zoom session with your team and Lead Faculty, mainly on how you can grow, using frameworks in our program.

Curriculum for Tekedia Mini-MBA

 

 

More Registration Benefits

Capstone Program

Here are the 12 tracks:

The program is completely capstone-based. Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company. It is the project component of Tekedia Min-MBA.

Important Links

ALL Tekedia Programs and Costs Here

Selected Tekedia Mini-MBA Corporate Clients


Tekedia Mini-MBA Syllabus

Theme: Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies

Introduction

Over the last few decades, digital technology has emerged as a very critical element in organizational competitiveness. It has transformed industrial sectors and anchored new business architectures, redesigning markets and facilitating efficiency in the allocation and utilization of factors of production. The impacts have been consequential: continents like Africa are moving towards knowledge-based economic structures and information societies, comprising networks of individuals, firms and states that are linked electronically and in interdependent relationships. In this program, we will examine this redesign within the context of fixing market frictions and deploying growth business frameworks in a world of perception demand where meeting needs and expectations of customers are not enough.

Program Time: Feb 7– May 7, 2022

Venue & Format: Online via videos, articles, webinars, and flash cases. Program is self-paced which means you consume the materials at your own time and pace. It is completely online. Where you live or your time zone would not be an issue as program is not live-delivered.

Cost: US$140 (N50,000 naira). We have a payment plan, i.e. installment payment plan (email us for details)

Target Audience: This program is designed for professionals and students across functional areas like sales, marketing, technology, administration, legal, strategy, finance, etc across all business sectors and domains.

Learning Objectives: To innovate is to set a new basis of competition in an economy, business sector or market. Sometimes, it results in disruption. This program is designed for private (large, SMEs, startups, sole businesses), public and government institutions, and individuals. Participants will:

  • Master the mechanics of growth – the reward of innovation – through frameworks, cases and evolving strategies.
  • Understand how to undergo transformation journey that is fully aligned with corporate objectives through measurable and realizable benchmarks.
  • Acquire business capability tools that do not just RUN their firms but can TRANSFORM them.
  • Design corporate growth experiments in Lab sessions based on One Oasis Strategy, Aggregation Construct, Double Play Strategy, Accumulation of Capability Construct, and more.
  • ETC

Tekedia Live Sessions

We run optional three Live Zoom sessions (two weekdays and one Saturday). This provides a way for our members to ask our Faculty and experts live questions and get feedback.

Tekedia Mini-MBA certificate sample

 

Tekedia Diploma program certificate sample

 

Tekedia Capstone program certificate sample

Special Weeks

Tekedia runs two special annual programs – Tekedia Career Week (not designed for finding jobs but rather planning careers) and Tekedia Innovation Week for our members. Admission is that member must have attended a Tekedia Mini-MBA program in that year. The dates are announced in our program curriculum.

Our Career Week is not designed for finding jobs. Rather, it is structured to TRANSFORM workers, founders & professionals into business leaders and champions of innovation in their companies. The sub-theme is Nurturing Innovators: Career Planning & Resilience During Disruption. It is packaged under the Tekedia Mini-MBA theme of Innovation, Execution & Growth. Our knowledge experts for the Week include human resources experts and leaders from MNCs and startups, across industries and global regions:

Other Tekedia Institute Programs

Our Contact Email: tekedia@fasmicro.com
Refund policy is full refund within 6 days from start of a program; after that, none but we can defer as requested.

Lead Faculty of Tekedia Institute

Prof Ndubuisi Ekekwe is the Lead Faculty of Tekedia Institute

  • PhD, Electrical & Computer Engineering, Johns Hopkins University, USA
  • MBA, University of Calabar, Nigeria
  • BEng Electrical & Electronics Engineering ( Federal University of Technology, Owerri, Nigeria)

Prof Ndubuisi Ekekwe invented and patented a robotic system which the United States Government acquired assignee rights. Dr Ekekwe holds two doctoral and four master’s degrees including a PhD in engineering from the Johns Hopkins University, USA. He earned undergraduate degree from FUT Owerri where he graduated as his class best student. While in Analog Devices Corp, he co-designed an accelerometer for the iPhone. A recipient of IGI Global “Book of the Year” award, a TED Fellow, IBM Global Entrepreneur and World Economic Forum Young Global Leader, Prof. Ekekwe has held professorships in Carnegie Mellon University and Babcock University, and served in the United States National Science Foundation Committee.

The South African press called him “a doctor of innovation” for helping organizations on the mechanics of business innovation, strategy, and growth. Since 2009, the Chairman of Fasmicro Group which controls many startups and entities has been writing in the Harvard Business Review. He was recognized by The Guardian as one of 60 Nigerians Making “Nigerian Live Matter” on Nigeria’s 60th Independence Day (Oct 1, 2020).

Selected Faculty & Testimonials

We have more than 85 Faculty members; see the full list here.  For selected testimonials on our program, click here.

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