Tekedia Institute welcomes our learners to the 7th edition of Tekedia Mini-MBA. We’re 41 countries in this edition using data from Paypal, Stripe,, etc payment systems. By now, you ought to have received your login credentials to the academic board. The courseware will go live on Monday and the festival begins. Welcome to the Institute. Check our curriculum here.
Welcome Eonsfleet to Tekedia Mini-MBA
The innovators are gathering. Tekedia Mini-MBA which begins Feb 7 welcomes the team from Eonsfleet: “Africa’s AI driven asset management and energy monitoring Platform”. We’re confident that your time at the Institute will deepen your capabilities to advance in markets. You will master the constructs of innovation, business growth and digital operational execution.
CEO Tokunbo Olaitan Arannilewa, thank you for sending your team to us, for this 12-week academic festival.
I will be sharing profiles of our selected companies which are joining us; reach out to Admin and send your images. To send your team to Tekedia Institute Mini-MBA, go here
The Airtel Africa Transformation – Join The Conversation At Tekedia Mini-MBA Live
Airtel Africa is now Nigeria’s largest publicly traded company. This was the same company that nearly packed up and left the continent a few years ago. What happened?
What can we learn from this company? In Tekedia Mini-MBA Live, we are scheduling this ahead due to massive requests from many upcoming learners in the next edition of Tekedia Mini-MBA which begins on Feb 7.
Come with your questions. And if you want to join the conversation, register today for Tekedia Mini-MBA and join Africa’s largest business education festival.
Update: The company’s performance has been solid; from Premium Times.
Airtel Africa recorded an earnings spike that helped its after-tax profit almost double to more than half a billion dollars in the nine months to December, according to its unaudited earnings report issued Friday.
Airtel jumped 9.99 per cent to N1,398 per unit in Lagos at 10:54 WAT in Lagos on Friday, following the news.
Revenue leapt 21.7 per cent to $3.5 billion, drawing support from its data business, whose contribution to turnover in constant currency approached one-third of Airtel’s turnover.
A rapid acceptance of mobile money services in its Nigerian, East African and Francophone Africa markets means earnings from that income source, now at $406 million, accelerated at the rate 37.2 per cent when set beside the figure posted a year earlier.
The future of earnings for the telco will be substantially shaped by its mobile money business which, having been spun off from its regular operation after hitting a valuation of $2.65 billion last March, pooled $550 million from investors as varied as Mastercard, Qatar Investment Authority, Chimera Investment LLC and San Francisco-based TPG in less than nine months.
Profit before tax for the period stood at $894 million compared to the $482 million posted in the relative period of 2020.
Profit after tax spiralled by 97.3 per cent to $514 million. It was $261 million a year earlier.
The Nigeria’s Insatiable Urge for Borrowing
China is no longer responding to our loan request, we are soliciting for loans now in European countries ~ Mr Rotimi Amechi, Nigeria’s minister for transportation.
The Nigerian Minister for transportation has claimed that the reason why they have been unable to finish some of the railway projects they have at hand is due to the unavailability of funds. In his words, China has stopped giving out loans to Nigeria to fund Nigerian projects and the best alternative is to shop for loans now in the European nations.
The Nigerian government has a knack for constant borrowing and running to countries and world financial institutions for financial help. The problem is not borrowing or seeking out for financial help, the problem has always been the proper utilization and management of the funds borrowed.
For a country that is in debt to the tune of 38 trillion naira, no project or capital investment(s) can the government point at to justify the spendings and utilization of those loans collected from World Bank, United States, the UK, China, Japan, Switzerland etc.
The bitter truth is, whether the government likes it or not, the Nigerian government will definitely repay back every dime they owe or have ever borrowed; even to the last kobo of it. When countries of the world throw money at you or other international organizations give you money, it is not a free gift, nobody is Father Christmas, although some of the loans could be written off but it should be noted that if you don’t pay back in cash you will definitely pay back in kind.
China for example has been accused of debt trapping diplomacy in Africa. What this means is that China is using loans and monetary gifts to entrap African countries and gain political and economic influence in those countries for colonization. China has also been accused of using loans and the so-called free money to gain so much influence, harvest intels, swing votes in their favour in the United Nations General Assembly (UNGA).
The Nigerian government should be careful of always running to countries for loans without reading to the last prints of the terms and conditions. One of the terms and conditions of some of those loans granted is that the lender will take over the national asset if the borrower fails to repay back at a particular time. This was the case in Uganda when the lender (China) was accused of trying to take over the only international airport in Uganda for the Ugandan government’s failure to repay back the 200 million dollars loan they got from China for the building of the airport.
As China Pauses Lending to Nigeria, Risks of Project Abandonment Mount
“We are stuck with lots of our projects because we cannot get money. The Chinese are no longer funding. So, we are now pursuing money in Europe.” Nigeria’s minister of transportation, Rotimi Amaechi, as China pauses financing projects in Nigeria.
Let me add this: those who despised China should step forward now, and fast. It is only in Nigeria that people think that capital is free. Someone is giving you money, risking assets and yet you are making it look like you are doing him a favour.
China has seen a lot, and now wants to allow those activists to provide the capital. Sure, this is not to say that I support everything China does on lending. My point remains: China deserves respect for taking risks in nations where Americans and Europeans dare not venture into.
As they pause loans across Africa, expect a monumental abandonment of projects, from railway systems to airports to presidential villas. I have called it the Great Project Abandonment and it would be massive.
Yet, the most unfortunate part: you have to keep servicing the current loans because the loans are always in phases. Not funding phase 3 does not mean that phase 2 which was funded would not be serviced. Unfortunately, without that phase 3, those shiny railway tracks may not have coaches to make use of them, as the coaches are expected to be funded in phase 3.
China wants to sleep and I hope the Western press which has waged wars on them in Africa can convince their countries to help in the continent. As the minister says, Nigeria needs money but China is not interested. The road to Europe….hope you can speak good English or French to be admitted?
China gives cash, Europe gives line of credit.
Nigeria’s railroad infrastructure projects and its push for trains as alternative means of transportation have suffered a major setback.
For months now, there has been delay in the execution of the railway construction projects as well as other infrastructural projects being financed by China.
The Minister of Transportation, Rotimi Amaechi, said the delay has been orchestrated by China’s inability to finance the projects. Amaechi said the federal government is now looking towards Europe as an alternate source of funds. He said if the loans are secured from Europe, the projects will be completed in no time.
“We are stuck with lots of our projects because we cannot get money. The Chinese are no longer funding. So, we are now pursuing money in Europe.
“And when I look at the money they are borrowing in other countries and compare it with the one we have borrowed, the kind of comments by Nigerians will put you off.”