DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 5574

A Tekedia Capital portfolio firm will begin its global expansion via Canada

0

We got great news: a Tekedia Capital portfolio firm will begin its global expansion via Canada. One of the world’s finest builders of digital companies picked our firm. As the official news arrives next month, I want to congratulate the team for continuing to deepen the nativity of African business values within the tenets of global entrepreneurial capitalism. With those, we will win more markets and territories.

I love Canada – it is a very generous nation and it is rising. We’re truly honoured for the opportunity to be in the land of the red maple leaf.

Tekedia Capital – next cycle begins next month here.

Early stage investing in technology-anchored 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.

As Retail Credit Reshapes, Goldman Sachs Acquires Buy Now Pay Later GreenSky for $2.2 billion

3

In America, when you swipe your credit card, your bank has given you a loan which if you do not pay off at the end of the month, will attract an interest. Yes, that process of issuing a rolling loan via a credit card simplified what typically would have required going to a bank, filling a form, getting approval, etc.

The banks made tons of money through this business model. Until a generation of young people came. Yes, the millennials hate paying for interests: they are value seekers. And because of that, a new generation of innovators invented a new product which is called Buy Now, Pay Later. 

What this does is magical: you can buy most things and spread the payment over months and pay absolutely zero interest! Of course, the merchants do pay those interests, by playing on volume, through discounting with the startups. The Buy Now, Pay Later competes with credit cards.

Goldman Sachs understands this disintermediation as you can have those cards and no one will care to get them or if they do get them, use them, since someone is offering them zero-interests over 4 months. Without adoption and usage of the cards, interest revenue nosedives.

That is why GS is paying GreenSky to buy $2.2 billion. I will be explaining this more on Saturday during Tekedia Business Growth Playbook session.

This could work in Nigeria and Africa with a little flavouring.

The Goldman Sachs Group, Inc. (“Goldman Sachs”) and GreenSky, Inc. (“GreenSky”; NASDAQ: GSKY) today announced that they have entered into a definitive agreement pursuant to which Goldman Sachs will acquire GreenSky, the largest fintech platform for home improvement consumer loan originations, in an all-stock transaction valued at approximately $2.24 billion. GreenSky’s differentiated lending capabilities and market-leading merchant and consumer ecosystem will help accelerate the efforts of Goldman Sachs to create the consumer banking platform of the future, help tens of millions of customers take control of their financial lives and drive higher, more durable returns.

  • Goldman Sachs is acquiring fintech lender GreenSky for $2.24 billion as the investment bank pushes further into consumer finance.
  • The all-stock deal for GreenSky, called the biggest fintech platform for home improvement loans in a release announcing the deal, is expected to close by the first quarter of 2022, the companies said on Wednesday.
  • GreenSky shares jumped 44% in premarket trading before they were halted.

THE INTERNECINE WAR: Reconstructing and Rehabilitating Ife-Modakeke, Erin-Ile-Offa Using SRJ Model

0
Ife and Modakeke Arial View

In language, culture, traditions and norms, Nigeria is one of the diverse countries in the world. It is a country that has hundreds of minority ethnicities within the major ethnic groups [Yoruba, Igbo and Hausa]. Each of the dominant ethnic group has over the years claimed to be the only group capable of solving socioeconomic and political challenges. However, recent activities showed that the minority ethnic groups have seen reasons for uplifting their specific traditions and norms within and beyond their domains in reference to the political and the economic domineering of the main ethnic groups.

In our experience, we have seen how it is difficult to determine the starting point of a particular town or city from another one. For example, Labaka-Ojo and Omi-Aro are two rural towns in Kwara State, a central Nigerian state. The population and number of houses in the two towns are not up to 15,000. Yet, the duo has different names and deriving solace in being independent towns, politically and economically. But in terms of culture and language they are the same. Over 1 years of staying in one of the towns by our analyst reveals that no significant differences in the land boundary. In spite of this, people and businesses always find it difficult to interact economically and politically.

Away from these towns, Ife and Modakeke are city and town in Osun State, a southern Nigerian state. Erin-Ile and Offa are city and town in Kwara State. Like the picture painted earlier, it is not really clear where a particular city boundary starts and end. This is also applicable to the town. In terms of language, culture and social activities, these towns and cities are not quite different. Despite that they have been engrossed and still being in varied wars over the years.

Information has it that the Erin Ile and Offa boundary crisis has caused over fifty years of recurring waves of violent clashes that have resulted in many human and material casualties. The first intra-community conflict between the Modakekes and the Ifes broke out in 1835. A recent research notes that “land issues, Ife East Local Government issue, debate about Modakeke’s sovereignty or staying with Ife, masquerade (Egungun) crossing into each other’s territory, boundary disagreement.”

According to our analyst, the feuds in the towns and cities remain chronic threats to sustainable peace because political, traditional and mediation institutions have not been able to find lasting solutions to the conflicts. Our analyst points out that the conflicts could be described as Abiku. In  2018, a report has it that Offa and Erin-Ile end age-long rift. Less than two years later, another report indicates violent activities of the two communities, which led to the deployment of the security operatives. In Ife, the traditional ruler of the city recently debunked news reports that the city and Modakeke are at war again.

From the reports on the conflicts analysed by our analyst it emerged that both the print and broadcast media are failing in their social responsibilities of ensuring sustainable mediation and peace in the towns and cities. It is, however, imperative that the media practitioners and owners consider solutions and restorative journalism practice more than sensationalism which has caused mayhems and impeding peace building processes and sustainability.

It is high time that the media see the need for reporting events that would foster hope, healing and resilience. The public have the right to know who among the actors making significant efforts towards peace restoration. They equally need to know categories of solutions being proffered by the actors, especially those at the communal level and political institutions. Restoring peace into the towns and cities, according our analyst, rests mostly on the media because selecting and framing certain aspects of any activity related to the conflicts have a propensity of increasing or decreasing tensions among the participants.

SmartNews Is Now A Double Unicorn – The Power of Aggregation Construct

1

This is the future of the digital economy: aggregation at different levels of operational stacks. The top five leading companies in the United States (on market caps) deploy one element of aggregation in the business. Today, you could be hard working but if your business model has expired for the digital era, you will struggle to capture value. 

Aggregation is the reason SmartNews, a news aggregator, is now worth $2 billion! (New York Times, the world’s finest journalism, is worth about $8.3 billion)

SmartNews, a Tokyo-headquartered news aggregation website and app that’s grown in popularity despite hefty competition from built-in aggregators like Apple News, today announced it has closed on $230 million in Series F funding. The round brings SmartNews’ total raise to date to over $400 million and values the business at $2 billion — or as the company touts in its press release, a “double unicorn.” (Ha!).

[…]

The aggregator’s business model is largely focused on advertising, as the company has said before that 85-90% of Americans aren’t paying to subscribe to news. But SmartNews’ belief is that these news consumers still have a right to access quality information.

Last week, during the Tekedia Business Growth Playbook, I explained the power of Aggregation Construct in the new economy. Your business model is the most important thing you must spend time to understand and update where necessary. Your newspaper must be a technology company which offers news instead of a news organization that uses tech.

Our world is changing: an aggregator of news is now bigger than most banks.

From Press Release

SmartNews Inc., the global leader in redefining information and news discovery, announced today it has raised $230 million in its Series F round of funding. This brings the company’s total capital raised to date to more than $400 million and secures its status as a “double unicorn” with a valuation of $2 billion, the highest for a standalone news app. The oversubscribed round includes existing investors as well as significant new ones who are aligned with SmartNews’s vision and growth strategy.

“Since the company’s inception in 2012, our vision has been to redefine the way we discover and engage with information by supporting diverse, quality journalistic sources, and serving our users a wide variety of timely and relevant content that helps improve their daily lives,” said Ken Suzuki, CEO and co-founder of SmartNews. “This latest round of funding further affirms the strength of our mission, and fuels our drive to expand our presence and launch features that specifically appeal to users and publishers in the United States. Our investors both in the U.S. and globally acknowledge the tremendous growth potential and value of SmartNews’s efforts to democratize access to information and create an ecosystem that benefits consumers, publishers, and advertisers.”

The Series F funding round represents another significant milestone for SmartNews, which has been the number one news app in Japan for multiple years running. In the U.S. market, SmartNews achieved the highest monthly user time spent among all news apps and saw its monthly active users (MAU) double in 2020. Since its last funding round in 2019, SmartNews has more than doubled its headcount to approximately 500 globally.

China Missing in Global Top 10 As Regulatory Crackdown Continues

1

Why is China doing this to its companies? As we write, there is no single Chinese company anymore in the global 10. You may ask why is this Nigerian villager worried about China when his country has none in the top 100! Yet, understanding what is happening in China is extremely vital for us to understand the future of commerce in Africa because if China pauses their firms at home, I expect most of them to make Africa a growth destination. As I write, the largest financial institution in Nigeria, on market cap, at a valuation of $2 billion, is OPay which is controlled from Asia.

Tencent Holdings Ltd. has lost its place among the world’s 10 largest companies by market value, leaving no Chinese company in the list as Bejing’s regulatory crackdown continues to wreak havoc on the stock market.

Hong Kong-listed shares of the gaming and social media company fell 0.5% Thursday, valuing it at $556 billion. That’s just below U.S. chipmaker Nvidia Corp., data compiled by Bloomberg shows.

This is the first time that a Chinese company isn’t among the world’s ten largest since 2017, the data show. Tencent’s unseating follows that of Alibaba Group Holding Ltd. earlier this year, as China’s tech behemoths face tougher rules on everything from monopolistic practices to data security and kids’ gaming hours.