A masterpiece is a great work piece from a master! And every one of us can create a masterpiece if we commit, dedicate and pursue to master something.
As 2022 arrives, think of one thing you will like to master. If you do that very well, you can create a masterpiece. Yes, master that piece – and own a masterpiece!
Become a master!
Let me congratulate Tekedia Capital portfolio startup, Boundlesspay, for releasing its blockchain-native app which makes it possible to transfer money at zero fees. Yes, do remittance without any fee. Engineered by my hometown Isuikwuato Abia state boy, Franklin Peters Odoemenam, they have elevated the game with a new dimension: accept payments in cryptocurrencies through phone number or email address. Yes, no need for a crypto wallet, just email and phone number.
BoundlessPay which began life in Nigeria now operates from Dubai after Nigeria’s policy changes in the crypto world. Last month, it acquired two companies in London and Mauritius as it begins its global playbook.
Please go and download BoundlessPay and experience the next big deal.
The 2000s provided the voice telephony era in Africa. The 2010s provided the mobile internet era. The 2020s will engineer the application utility era where the combinatorial and re-combinatorial power of cloud computing, mobile internet and software will redesign market sectors across territories in Africa.
This is the cambrian moment of entrepreneurial capitalism and mobile internet is powering it. New business models will be invented and new ordinance in markets will evolve.
It’s here – begin to build because new empires will emerge as market structures will be transformed. Every sector will see changes in Africa.
Comment #1: We can’t write our problems away with codes.
I don’t know of a software that can make affordable bread and water. In 2019, Nigerians spent 56.7% of household income on food, this year, there’s a report on Business Day that the number has risen to 101% a month, thanks to underwhelming supply and productivity. Nigerians won’t eat software. We need to read meaning into these numbers.
Startups that are serious about solving Africa’s problems at some point must begin to Resolve Supply, demand is not the problem, you can always aggregate after building supply resolution stacks. Until Innovators begin to Resolve Supply, their Total Addressable Markets will continue to shrink since any increase in price of food (which is only going up and up) will send more and more people below the poverty line eroding the purchasing power of the nation.
We’re not at par with America where Supply is largely Unbounded. Innovators must innovate meaningfully, else it’s all a convoluted head rush.
My Response: xx information improves market inefficiencies. Using software, logistics startups now synchronize when farmers harvest, trucks arrive and move those produce to the processing centers. By doing just that, waste is reduced. Africa does produce decent tonnage of food but the problem is that most are wasted. If you reduce that waste, you have fixed a problem.
If that efficiency improves for wheat, that “affordable bread” will happen. These things are linked. You need to start somewhere. You may not see the connections between a trucking company and the price of bread but those who look at end-to-end logistics do.
In other words, from seeding to harvesting, you can do many things that will reduce the cost of bread even when you are not making bread.
“Startups that are serious about solving Africa’s problems at some point must begin to Resolve Supply, demand is not the problem” – I do not really agree generally. Nigeria has about 30 million who earn income (most minimum wage) and those power the other 180m. No matter how you look at it, that is very small and it is a demand problem because of purchasing power. That is why companies like Shoprite, Mr. Price struggle.
The Nigerian Communication Commission (NCC) has selected three telecom companies as qualified bidders for the license of Nigeria’s 5G spectrum, the telecom industry regulator announced Thursday.
In a statement signed by the Director, Public Affairs NCC, Ikechukwu Adinde, the Commission said MTN Nigeria Plc., Mafab Communications Limited and Airtel Networks Limited have so far been selected to bid for the 5G auction.
It also reaffirms the date and time of the Mock Auction, which is scheduled to hold on Friday, December 10, 2021 at Transcorp Hilton Hotel, Abuja by 11:00 a.m., while the Main Auction will hold on Monday, December 13, 2021.
“Consistent with its regulatory principle of open and transparent auction, the Nigerian Communications Commission (NCC) has announced that three telecoms companies have qualified as approved bidders of the forthcoming 3.5 gigahertz (Ghz) spectrum auction for the deployment of Fifth generation (5G) networks in the country.
“The qualified bidders that have met the criteria for participation in the licensing process of 3.5Ghz spectrum, including payment of the stipulated Intention to Bid Deposit (IBD) as outlined in the Information Memorandum (IM), are include MTN Nigeria Plc., Mafab Communications Limited and Airtel Networks Limited.
“Consequently, the stage is now set for the three companies to participate in the Main Auction as well as in the mandatory Mock Auction process, which will come as a precursor to the Main Auction.
“The Commission has also reaffirmed the dates for the conduct of both the Mock Auction and the Main Auction. The Mock Auction is scheduled to hold on Friday, December 10, 2021 at Transcorp Hilton Hotel, Abuja by 11:00 a.m., while the Main Auction will hold on Monday, December 13, 2021 at the same venue and at the same time,” the Commission said.
Nigeria is among a few countries in Africa leading the push for 5G deployment. Though the roll out had faced parliamentary questions earlier, borne out of safety concerns about 5G technology, the Senate later gave approval for the deployment.
NCC had last month, pegged the reserved price of the spectrum license at $197.4 million (N75 billion). The regulator said only licensees, who make down payment of 10 percent of the reserved bid price and with 100 per cent regulatory compliance would be allowed to participate in the auction while licensees with outstanding debts that have secured NCC’s approval for a payment plan will be allowed to participate in the auction.
The auction comes with a 10-year spectrum license and a minimum requirement of an operational Universal Access Service Licence (UASL). However, new entrants or licensees without a UASL will be required to obtain a UASL operational license to be qualified for the 5G license.
So far, it seems that only the three selected companies, MTN Nigeria Plc., Mafab Communications Limited and Airtel Networks Limited, have met these criteria.
A federal judge has blocked the controversial Texas bill designed to stop social media platforms from blocking users over what they post.
The bill was introduced in Texas after former U.S. President Donald Trump was blocked by major social media platforms, including Facebook and Twitter. The bill called HB 20, was signed by Texas governor Greg Abbott in September and was billed to take effect from Dec. 2.
Republicans were counting on the bill to quell what they called “censorship.” But a federal judge blocked the bill on Wednesday, saying it violated the First Amendment.
Judge Robert Pitman ruled that the bill would violate social media companies’ First Amendment right to exercise editorial control over the content that appears on their platforms, according to a filing submitted to an Austin, Texas district court.
“HB 20 prohibits virtually all content moderation, the very tool that social media platforms employ to make their platforms safe, useful, and enjoyable for users,” the filing states.
The HB 20 was challenged by NetChoice and the CCIA, the two industry groups representing online platforms, whose members include Amazon, Google, Meta and Twitter. The groups, who have challenged a similar bill in Florida earlier this year, said in a press statement that they have expected the ruling.
“Today’s outcome is not surprising. The First Amendment ensures that the Government can’t force a citizen or company to be associated with a viewpoint they disapprove of, and that applies with particular force when a State law would prevent companies from enforcing policies against Nazi propaganda, hate speech, and disinformation from foreign agents,” they said.
The CCIA has been advocating for free speech online for more than two decades, and has relied on the First Amendment to protect internet platforms.
“This ruling upholds the First Amendment and protects internet users. Without this temporary injunction, Texas’ social media law would make the internet a more dangerous place by tying the hands of companies protecting users from abuse, scams, or extremist propaganda,” the group said.
Challenged by the groups, Florida Gov. Ron DeSantis’ attempt to enact a similar law was blocked by a federal judge in July, on the grounds that it violated the First Amendment.
The Wednesday ruling has dealt a huge blow to the right wing’s push to restore Trump’s social media presence. The former Republican President had relied on social media to communicate during his time in office. He was blocked by many social media platforms for inciting the Jan. 6 Capitol riot that resulted in the death of many people.
However, Republicans have largely seen the action of social media platforms as censorship targeting the conservatives. Abbott and DeSantis were heading the charge to protect conservative voices from social media moderation. When he signed HB 20 in September, Gov. Abbott said: “There is a dangerous movement by some social media companies to silence conservative ideas and values.”
The ruling means that Trump will remain without his megaphones for long. His earlier attempt to establish a social platform of his own, where he would communicate with his followers, failed. In October, Trump announced plan to develop another social media platform called Truth Social, in partnership with Digital World Acquisition Corp. – the Spac company.
But the November launch date that Trump Media & Technology Group set for Truth Social has elapsed, indicating another failure at attempt by the former President to set up his own social media. Trump’s plan to take another shot at the presidency in 2024, depends so much on getting back his social media megaphone. But it is faltering.