Tekedia Institute is excited to welcome US-based Nairagram team to Tekedia Mini-MBA which begins Sept 13. Nairagram is an instant payment gateway exclusively dedicated to servicing the Nigerian community: “When you need to transfer funds to residents or businesses located in Nigeria, few competitors are able to offer the same kind of caring service we easily provide.” We look forward to co-learn with these innovators.
Welcome to our Institute; registration continues for the next edition.
I like reading Maro Elias and he has another nice one. Like I have noted, I missed the opportunity to invest in Kuda despite all the efforts by the founders. The piece by Maro offers some insights why sometimes, the best things are packaged in simple ways!
Anyways, Kuda is a great example of what twenty first century African innovation looks like. To be clear, I do not think Kuda is profitable – neither do I believe they’re a US$500million business, and considering their model of not charging for bank transfers (at least the first 25 monthly), which is an extremely high customer acquisition cost, I find it hard to understand their business model, but considering the fact they have investors like Valar Ventures, Target Global and SBI on their term sheet, I want to believe they have access to some internal data I have very little knowledge about.
But note, nothing has happened – we are still at infancy on this. There is one fintech startup I got in a few days ago. In 6 months, they added 150k users. If all goes as roadmapped based on compounding leverages we have activated, they plan to hit 1.2 million users by December; I will not share until Tekedia Capital members have been offered an exclusive path to invest on this next month; you can join us here.
It is a beauty and led by one of the nation’s best. So, nothing has happened because this digitization of Nigeria’s economy would be decades-long. We are still at infancy across all sectors including banking.
How? The market cap of one South African bank is more than the total market cap of Nigeria’s financial sector. Yes, Standard Bank of South Africa’s $15.5 billion market cap is more than the value of Nigeria’s banking and insurance sectors combined! Simply, Nigeria has growth ahead because nothing has happened.
Now, read Maro…
As an engineer who has worked with doctors on many surgeries on pigs (abdominal and thoracic surgeries, and minimal invasive surgeries on throat), I want to welcome 170 medical doctors and healthcare professionals who are joining Tekedia Institute mini-MBA in our next edition which begins Sept 13. I help to build technologies which help doctors make miracles in operating and consultation rooms.
We like having doctors at Tekedia Institute – and many do come. We hosted 40 amazing Lily Hospitals doctors, led by Dr. Austin Okogun, and since then, we have sharpened our knowledge base to support the high priests of healthcare on the mechanics of business.
In the next edition, we are bringing new cases specifically in the healthcare domain. To the doctors, nurses, and healthcare professionals, welcome to Tekedia Institute. Thank you to the amazing teaching hospital for choosing our school to introduce business to these amazing men and women.
On behalf of our Faculty, staff and co-learners, THANKS for the confidence. And to our alum who recommended us, thank you for your testimonial.
Registration continues for the next edition of Tekedia Mini-MBA.
photo – Ndubuisi Ekekwe in operating room, operating on a pig (abdominal surgery). We are testing tools and technologies!
Innovation brings a new basis of competition. Join Tekedia Institute Mini-MBA which begins Sept 13 to experience how to bring an innovation regime in your playbook. For 12 weeks, you will master the physics of market systems, from business leaders who make innovation and growth happen in companies.
The wealth of nations and the wealth in firms go through productivity, and productivity elements must not be complex to be amazing. Register today in the best school and get many early bird benefits (Ndubuisi Ekekwe exclusive books, free First Atlantic Cybersecurity Institute cybersecurity course, Planning a Career in a New Country, etc)..
On that link, we have many ways to pay (Paypal, bank transfer, Stripe, Bitcoin, Zelle, etc). Cost remains N50,000 naira or $140 depending on your payment currency.
The report that the National Industrial Court of Nigeria, has ordered the National Association of Resident Doctors (NARD), back to work has been disputed.
According to ThisDay, Justice John Tergema of the Abuja Division of the Industrial Court made the order on Monday while delivering ruling in an application by the federal government seeking an order of court compelling the striking workers to return to work.
The NARD had on August 2, 2021 embarked on an indefinite strike to protest what they say is a breach of agreement the association reached with the federal government to end its strike of 2020.
After weeks of unfruitful dialogue, the government approached the industrial court for an order to enforce its “no work, no pay” rule.
Responding, the court had summoned the striking doctors to appear before it and show cause why their salaries should not be stopped as requested by the federal government.
In a short ruling, the trial judge fixed September 15, 2021, for hearing of the originating summons.
The judge also directed that the defendant should appear on the next adjourned date to show cause why the “no work, no pay” rule should not be enforced against it.
The federal government seemed not satisfied and had last week approached the court for an order compelling the striking doctors to “suspend the said industrial action commenced on August 2 and resume work immediately, pending the determination of the substantive suit”.
The ex parte application dated August 18, 2021, was argued on behalf of the federal government by Mr O. E. Kaswe, wherein he urged the court to restrain the doctors in all the states of the federation from further continuing with the strike on the grounds that it runs contrary to section 41 of the Trade Dispute Act.
Delivering ruling in the ex parte application, Justice Tergema ordered that: “The claimant/applicant and the defendant/respondent suspend all forms of hostilities forthwith, pending the hearing and determination of the motion on notice.”
The judge ordered that the defendant/respondent be served with the hearing notice and the originating processes, adding that proof of service be filed in the case file before the next adjourned date of September 15, 2021.
Members of the NARD embarked on a fresh strike due to the government’s failure to honor the memorandum of action that led it to calling off its strike in 2020.
Specifically, they are protesting the government’s removal of House Officers from the scheme of service.
In response to the union’s latest industrial action, the government approached the court, seeking punishment for the striking doctors for what it claimed is an abdication of responsibility.
Among the issues for determination by the court is whether or not the “no work, no pay” rule should not be applied against the defendant.
The suit also contained a prayer seeking an order of the court to direct the striking doctors to return to work immediately.
A statement signed by the ministry of labour and employment spokesperson, Charles Akpan, said the presiding judge, Mr Targema, granted the order of interlocutory injunction, “compelling all members of the Defendants/Respondents in all the states of the Federation to suspend the said industrial action.”
“The Court held that the continued downing of tools by the striking doctors has inflicted a lot of damage on the health system and the sick, especially in this perilous times of COVID-19 pandemic,” the statement added.
But in a surprising reaction to the news, the NARD told Premium Times that it only heard of the court sitting on the pages of newspapers after the sitting was over.
“We are not aware that the matter came up. We are just hearing it from news platforms and that is why we did not appear before the court,” the NARD President, Uyilawa Okhuaihesuyi, said.
He added that the NARD is only aware of the September 15 adjournment, and so Monday’s sitting was strange to the union.
Mr Okhuaihesuyi also debunked what he described as rumour that the court ordered his union’s back to work, saying the strike continues until their demands are met by the government.
With these conflicting statements from the media, the ministry of labour and the NARD, the hope of many Nigerians who have breathed sigh of relief at the news that the doctors have been ordered back to work, is dashed. The resident doctors’ striking action has paralyzed medical activities across the country for weeks now.
Justice Targema had on previous occasions refused to order doctors back to work, suggesting the NARD’s statement could be true.
However, Nigerians have kept bearing the brunt of the doctors’ strike as many are dying preventable deaths due to lack of Medicare.
“Losing my cousin to a road accident today (Monday) because no doctors available to attend to him on time has completely shattered me. My aunt is in coma already. Her only son is gone,” a bereaved Nigerian lamented on Twitter.