When your business experience began with selling garri in Oriendu Market, Ovim, Abia state, after school in primary school, you will possibly have tons of experience in business. Selling garri was easy because it had a standard unit of measure: cup. And grandma could give you guidance on how many cups per naira.

But to be  promoted to selling yam, a new skill is required: you need to understand the customer (from the city or local), time in the market (sell if after 4pm to avoid taking it back home), the type of yam (nkaa, obiaturuge, mbala, etc) etc.

Those experiences are critical even when it comes to global commerce. As I wrote in Harvard Business Review a few years ago, every business is local. And we have brought that construct to Tekedia Capital.

Tekedia Capital offers a specialty investment vehicle (or investment syndicate) which makes it possible for citizens, groups and organizations to co-invest in innovative startups and young companies in Africa and around the world. Capital from these investing entities are pooled together and then invested in a specific company or companies.

Today, young people in Nigeria are honouring us at the Best Venture Capital/ Angel Investor Ecosystem in Nigeria. Join us at Sheraton Hotel Ikeja as Tekedia Nation receives the honour.

To join Tekedia Capital, go here ($1,000 or N550,000 naira). Those who join Tekedia Capital will have access to the startups.

Good People, I am very happy to share that Tekedia Institute will open operations in India in Q1 2022. #India is now one of our fastest growing regions with many attending our programs. We will be introducing the business leader who will lead this for us in India next month. He is already on board.

Our plan is to co-learn with at least 20,000 young Indians by 2022 across our different programs at Tekedia Institute. For the next edition of Tekedia Mini-MBA, I am developing 25 business cases, covering USA, India, China and of course Africa to expand our courseware well beyond #Africa.

Tekedia Institute >> to discover and make scholars in markets. Join our next edition here.

Congratulations again Tekedia Mini-MBA edition 6 class for successfully completing your program. This is to remind you to add your new qualification on your LinkedIn education section.  Visit your LinkedIn profile and begin.

—To List for Mini-MBA:

• Go to Education section in your LinkedIn profile:
• School: Tekedia Institute
• Degree: Mini-MBA
• Field of Study: Business Administration Management, General

For new members, we have since opened registration for the next edition of Tekedia Mini-MBA which begins Feb 7 2022

Good move Nigerian Civil Aviation Authority (NCAA) on Emirates. A really great piece of music is playing in Abuja and Dubai now. Since we took a tougher position even British Airways and associated authority are approaching things in more respectable manners.

I do not like these international commercial confrontations but I have grown to understand that sometimes they could be the only ways to make progress in this world. UAE cannot give Air Peace just one weekly flight (out of 3 it requested)  when we are giving Emirates 21.

I commend the NCAA: it is called reciprocity – 1 for 1! If Air Peace gets one, Emirates also gets 1. But if they allow Air Peace the 3 it asked for, then approve the 21 Emirates requested. It is called fairness!

Full statement from NCAA below

“Following the lifting of the ban on Emirates Airlines passenger flights to Nigeria by the Government, the UAE based airline applied to Federal Ministry of Aviation for approval of its Winter flight schedule. The requested schedule consisted of 21 weekly passenger flight frequencies to Nigeria, comprising of two daily flights to Murtala Muhammed Airport, Lagos and one daily flight to Nnamdi Azikwe International, Abuja.

“The Minister of Aviation graciously approved the Winter schedule as requested without any hindrances in the spirit and intent of the Bilateral Air Services Agreement (BASA) between Nigeria and UAE.

“Air Peace Airlines, the only Nigerian airline that operates passenger flights to UAE, requested for 3 weekly passenger flight frequencies and was granted only one weekly passenger flight frequency. The NCAA counterpart in UAE attributed the development of this action to non-availability of arrival slots at the Sharjah International Airport.

“The Minister of Aviation decided to apply the principle of reciprocity and withdraw the approval given to Emirates Airlines and instead approve one weekly flight frequency to Abuja on Thursday. The DG, NCAA notified the country manager of Emirates Airlines of the new approved weekly flight frequency schedule.” Director-General, Nigerian Civil Aviation Authority (NCAA), Musa Nuhu.

TikTok, the high-flying short video app, is ending the year 2021 as the non-game app with the highest revenue, according to Sensor Tower Store Intelligence data.

App stores experienced a boom in 2019 and 2020, following huge global spending on both mobile games and non-game apps. TikTok has been on top of the trends table as young people flock to the platform, getting paid for their contents. The app has more than one billion users. 

The huge adoption saw TikTok downloads skyrocket, eclipsing other social media apps as the most downloaded on the App Store for 2021, racking up 745.9 million installs across both app stores. This is despite a dip of 24 percent year-over-year from 980.7 million installs in 2020, demonstrating the app’s global popularity even as it was removed from its top market India, according to Sensor Tower data.

Besides downloads, TikTok has also surpassed YouTube for average watch time in US and UK. Sensor Tower said the app will stay on the top of the revenue chain.

“TikTok, including Douyin on iOS in China, will maintain its dominance at the top of the chart as the non-game app that saw the most revenue across both app stores combined. ByteDance’s short video platform passed $3 billion in lifetime revenue earlier this year—in the first 11 months of 2021, the app saw $2 billion in revenue, up 67 percent Y/Y from $1.2 billion. By the end of the year, Sensor Tower forecasts that the app will see $2.3 billion in spending, bringing its lifetime total to $3.8 billion,” it said.

Generally, TikTok’s revenue growth was buoyed by the boom in adoption and spending for both mobile games and non-game apps in 2020, market trends began normalizing in 2021 as worldwide consumer spending is projected to reach approximately $133 billion on in-app purchases, premium apps, and subscriptions across the App Store and Google Play, according to Sensor Tower Store Intelligence data.

This represents 19.7 percent year-over-year growth from $111.1 billion in 2020, nearly mirroring the 21 percent Y/Y growth consumer spending experienced in 2019. Global consumer spending in non-game apps grew 19.7 percent to $133 billion in 2021.

While TikTok leads the pack, other apps also show incredible numbers in downloads and revenue. On Google Play, Facebook tops the charts with about 500.9 million installs on that marketplace alone. Across both marketplaces, the app will see about 624.9 million installs, down 12 percent Y/Y from 707.8 million, Sensor Tower said.

App stores, downloads and revenue

However, when it comes revenue, the app stores have had it differently in 2020 and 2021. Sensor Tower forecasts a drop in downloads for Apple’s App Store and increase for Google’s Play Store.

“First-time installs remain relatively flat when compared to 2020, growing 0.5 percent Y/Y across the App Store and Google Play to 143.6 billion in 2021 from 142.9 billion 2020. This is driven mainly by app adoption on Google Play, which will see installs climb 2.6 percent Y/Y to 111.3 billion from 108.5 billion; Apple’s marketplace will generate about 32.3 billion installs this year, down 6.1 percent from 34.4 billion,” it said, adding that worldwide app downloads grew 0.5 percent year-over-year to 143.6 billion in 2021.

App Store revenue is expected to increase by 17%, while Play Store will climb more than 23%.

Globally, consumer spending on the App Store will reach $85.1 billion, up 17.7 percent Y/Y from $72.3 billion in 2020. Although users have spent less on Google Play, that platform will see more Y/Y growth, climbing 23.5 percent to $47.9 billion from $38.8 billion. The two platforms’ spending relative to each other remains the same as in 2020, with the App Store seeing about 1.8 times the revenue as Google’s marketplace, Sensor Tower said.

The firm projects that Google One, which has amassed more revenue in 2021, will reach $1 billion in consumer spending, up 123% year-over-year from $448.5 million last year.