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How Firms Can Make A Difference To Global Problems

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If we observe closely, we will notice the presence of global problems around the world, waiting to be solved. Global problems such as climate change, healthcare, human rights, food security, etc. Any business/ company that wants to thrive in today’s world has to be deliberate in creating meaningful and value-added products and solutions that will solve a problem. Once they succeed in solving a problem, that way they will not only make profit but also make a positive impact on the world.

Building an agile organization that is positioned for long-term success, should ensure that there would be partnerships and collaborative efforts to bring innovative products and services to the market. Leading multinational businesses/corporations have understood that by finding solutions to the world’s greatest problems, they can reduce costs, dominate the market, mitigate risks and increase profits.

In solving world problems such as eradicating poverty, solving the issue of climate change, human rights abuse, etc. The national government does not have the full ability and resources to address global problems. Such issues are only addressed by multinational businesses/ corporations, because they have the profit motivation, worldwide influence, and might to tackle and accomplish these purposes.

Lately, businesses that are leading the way ahead of others, are those that are innovating solutions to social, economic, and environmental problems, which has accrued large profits for them. For example, Visa and Paypal have indeed solved a worldwide problem, where they have made it easy to pay for good services, also making it easy to move and receive funds between people. It has been reported that social, economic, and environmental challenges threatening the world today are likely to increase exponentially in the coming decade.

Global problem-solvers are noticed to be doing three things well. Companies/businesses that profit by finding solutions to global problems do three things well:

  1. Include sustainability on the governance agenda: The board of directors has the legal and fiduciary responsibility to ensure the company’s prosperity. The risks and opportunities described here are boardroom issues. Sustainability is a governance matter.
  2. Collaborate with other companies/NGOs: Thoughtfully and purposefully identify and collaborate with NGO/nonprofit partners who bring expertise as well as credibility, relationships, and access to communities where the company seeks to engage.
  3. Engage with stakeholders: They build trust with consumers, employees, investors, and communities where the company/business has a presence.

Any company seeking to make a difference to global problems should look at these areas and more to bring about possible solutions. Companies that discover solutions to global threats have so much to gain. The greatest opportunities for businesses to profit are in emerging markets, especially in Africa. In Africa alone, consumer-facing industries will grow by $400. A 2015 Nielsen study found that brands with a demonstrated commitment to problem-solving and sustainability, grew 4 percent over the year, compared to less than 1 percent growth of their competitors. This reflects consumers’ increased desire to buy from brands that have a positive impact on society.

Where Can We Find The Imo Aircraft?

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In 2017 under the reign of Chief Rochas Okorocha, the people of Imo State were informed by the Government of its intention to purchase an aircraft for the State.

The said aircraft tagged “Imo Air’ was launched by the State’s government precisely on Tuesday, 24th January 2017, after it successfully landed at the Sam Mbakwe Airport Owerri with passengers from Lagos State, at about 12:20pm (WAT). It’s noteworthy that the aircraft had a capacity of one hundred and forty (140) passengers.

Prior to its successful landing at the aforementioned airport, several Imolites and onlookers were of the notion that the awaited feat was likely to be a mirage. At last, their skepticism – which was natural and normal though – was proven wrong by the then Governor who was accompanied to the airport by various top government functionaries.

It suffices to say that the above mentioned date ushered in a moment of ecstasy mixed with astonishment. The mixed feelings were obviously witnessed by anyone who could see through his or her eyes.

Therein, the governor made it known that the number of airlines the State had planned to kick-off with, regarding its interest in aviation business, was five. According to him, four additional aircrafts were on the way, and would soon be equally launched by the ‘Rescue Mission’ administration.

The then number one citizen went further to disclose that the airline business would temporarily be managed on behalf of the State by Dana Airline pending when the state would receive full license to run the business.

It would also interest you to note that the governor reiterated his administration’s readiness towards ensuring that the Imo airport was fully transformed to an International Cargo Airport in no distant time.

He said the April 17, 2017, being the date the State was targeting toward meeting the lofty demand, would never be shortchanged or compromised. Based on his speech, the initiative which was supposedly a Federal Government (FG) project was at the time duly funded by the Imo State government.

The then governor apparently proved to the general public, particularly those who understood what it takes to run a venture in the Aviation sector, that the business the FG had been afraid of going into could easily be initiated as well as managed by a state government.

Actualization of such a feat made Imo to be reckoned the first state across the federation to invest in aviation, especially at a period when every facet of the country was seemingly suffering from economic comatose.

This very accomplishment was strongly propelling my person to believe that one of the expensive statements made by the then Imo governor during the launch of the ‘Imo Air’ was something to behold.

Speaking at the event, Chief  Okorocha wholly told the members of the press, and of course the entire public, that Imo – the Eastern Heartland – wasn’t affected by the ongoing recession, though that was seemingly an overstatement.

Funnily enough, this claim and supposed achievement came when the teeming workers in Imo State were being paid seventy per cent (70%) of their salaries, and there was a sixty per cent (60%) cut from the arrears of pension accruable to the state’s pensioners. In fact, as at then, the retirees were owed several years of pensions by the Government; the story hasn’t changed till date.

We must be mindful of how we speak in any public domain, so that we won’t end up in a crisis when the people are expected to rejoice. I must say unequivocally that such an utterance didn’t augur well for any civil servant or pensioner who was present at that epochal ceremony.

Lest I digress, as at then, I made the Imo State government realize that the aviation business was often characterized by several challenges and intrigues. Yes, a feat was recorded, but it’s imperative to acknowledge that sustaining it ought to be of paramount importance, both to the investor and the beneficiaries at large.

It’s not anymore news that lack of maintenance culture remains one of the major factors bedeviling contemporary Nigerian society, and Imo was no doubt exceptional.

To this end, I therefore advised the government in question to take the day-to-day management of the venture very seriously with a view to ensuring that the basic motive of establishing it was duly actualized.

Diversification was the only way out, and having thought it wise to include the aviation industry in the scheme of things, was arguably a laudable step. But it was pertinent to comprehend that if the government failed to do the needful in the long run, the lofty dream would definitely yield further crises rather than addressing the existing quagmire.

It’s appalling that as I write, no one could presently hear of anything pertaining to ‘Imo Air’ as an aircraft belonging to Imo State. Could it be that it flew away or vanished into thin air after the expiration of Okorocha’s tenure?

NCC Warns Nigerian Mobile Phone Users of TangleBot, SMS-based Malware Targeting Android

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The Nigerian Communications Commission (NCC), again has raised alarm over a malware targeting Android phones. The Commission, in a statement signed by its Director of Public Affairs, Dr. Ikechukwu Adinde, warned the Nigerian public of the “new high-risk” malware named TangleBot, spreading through SMS.

NCC said the disclosure on TangleBot was made in a recent security advisory made available to the Commission’s New Media and Information Security Department by the Nigerian Computer Emergency Response Team (ngCERT).

“TangleBot employs more or less similar tactics as the recently-announced notorious FlutBot SMS Android malware that targets mobile devices. TangleBot equally gains control of the device but in far more invasive manner than the FlutBot malware.

“TangleBot Android malware is installed when an unsuspecting user clicks on a malicious link disguised as COVID-19 vaccination appointment-related information in an SMS message or information about fake local power outages that are due to occur,” NCC said in a statement.

TangleBot is the latest of many cases of malware attacks targeting Nigerian mobile phone users. Late last year, the NCC also sounded a warning about FluBot, a mobile banking app impersonating malware targeting Android users.

The Commission said the aim behind both or either of the messages (on COVID-19 or impending power outages) from TangleBot is to encourage potential victims to follow a link that supposedly offers detailed information.

“Once at the page, users are asked to update applications such as Adobe Flash Player to view the page’s content by going through nine (9) dialogue boxes to give acceptance to different permissions that will allow the malware operators initiate the malware configuration process,” it said.

Highlighting the consequence of the above, the Commission said that TangleBot gains access to several different permissions when installed on a device, allowing it to eavesdrop on user communications. The malware then steals sensitive data stored on the device and monitors almost every user activity, including camera use, audio conversations, and location, among other things.

In addition, the malware takes complete control of the targeted device, including access to banking data, and can reach the deepest recesses of the Android operating system.

Thus, while warning Nigerian mobile phone users to be wary of wiles being used by cybercriminals to commit fraud, outlined measures to take to avoid being a victim. Read below:

These measures include an advisory to telecom consumers and other Internet users to refrain from opening Uniform Resource Locators (URLs) from unknown sources while using your mobile devices.

Additionally, telecom consumers should never respond or send replies to messages or call back a phone number that is associated with the text that they are unaware of. Should any telecom consumer or Internet user become curious and wish to ascertain the authenticity of any call or messages and wish to probe the incident, such persons may do a web search of both the number and the message content.

The NCC hereby reiterates that mobile users are under obligation to practice safe messaging practices and avoid clicking on any links in texts, even if they appear to come from a legitimate contact. Indeed, it is important to be judicious when downloading apps by reading install prompts closely, looking out for information regarding rights and privileges that the app may request.

Other risk-mitigating measures advised by ngCERT is for users to be cautious of procuring any software from outside a certified app store. Advisedly, it is safer to call the company directly rather than using the phone number on the message received, especially if the message is spoofing a company. Finally, telecom consumers and other Internet users should report any incident of system compromise to ngCERT via incident@cert.gov.ng for necessary support and technical assistance.

They Create New Basis of Competition – Support Them At Tekedia Capital

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At Tekedia Capital, we define disruptive innovation startups as startups which introduce technology-anchored and -enabled products or services that bring new basis of competition in the market. These startups have the capacity to rewire the ordinance of market systems, creating leverageable factors which can compound, outperforming the market. We find them in all industrial sectors – and we like to support them!

Join me to support them at Tekedia Capital where we’re building the foundations of the next Africa.

Tekedia Capital invests in technology-anchored early stage startups and companies. Our opportunity antenna and grassroot connections with innovators enable us to see patterns as they develop.  We invite you to partner with us as we nurture and build category-king companies in Africa and beyond, and in the process advance citizens, communities and nations. At Tekedia Capital, we fund the foundations of the NEXT African economy.

Tekedia Introduces A New Course: “25 Startup Innovation Cases (10 Africa, 5 USA, 5 India, 5 China)” by N. Ekekwe

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Extra 200 participants are joining Tekedia Institute Mini-MBA from India, according to an update this morning, from our India-based Lead Asif Chowgule. I told him that Tekedia will create a dedicated program with focus on India as the numbers are significantly ramping up. This is in recognition that India is one of the fastest growing markets for Tekedia Mini-MBA and Tekedia Startup Masterclass.

Yet, we will make sure that we’re glocal, using cases which help all learners, encapsulating local and global perspectives. In all our programs including Tekedia Mini-MBA, Tekedia Startup Masterclass, Tekedia Practice, Tekedia Industries and Phase 1  Corporate Virtual programs, you will see a new course, from Feb 7: “25 Startup Innovation Cases (10 Africa, 5 USA, 5 India, 5 China)”.

To make things easier, here is a table of all programs with costs – and how to join