It is what it is – most global jurisdictions wrote their tax laws before the internet, and accordingly tax jurisdictions were not based on IP addresses but physical address. As a result of that, some technology companies which run their playbooks via  IP addresses could sell globally, and yet not pay taxes globally. Nigeria thinks that is not fair – and to a large extent, I agree with the nation.

So, the nation wants to do something about it: according to the Office of the Vice President, Nigeria will adopt a new playbook which will impose ” taxes on the Nigerian income of global tech giants with significant economic presence in the country, even if they have not established a physical office or permanent establishment and are currently not paying taxes in Nigeria.”

He added that while the Federal Government has no plans to raise taxes now, saying “there are those who argue that our tax rates are too low, comparing us to other places in the region where the rates are much higher.

“So we have had to balance all of these issues because clearly, higher tax rates can be a disincentive to businesses and investments.

The plan is the easiest part, the most difficult component is actually making that happen. How do you tax Netflix if it fails to cooperate? Sure, you can ask Nigerian banks to keep 7.5% VAT on any credit or debit card domiciled in Nigeria which is used to pay for Netflix subscriptions. To a large extent, Netflix will not have issues with that as that money was never coming to it. 

But where things will be challenging is here: asking Netflix to pay corporate tax on businesses done in Nigeria. If you try that, it will become interesting. Yes, magically, due to IP licensing, these companies can claim they make no money in Nigeria!

Left and right, Nigeria’s best playbook is to build local capabilities because the future of commerce will be wired digitally, and no group of people in Abuja can police people in Paris, New York, and London without their governments coming to support them when things get out of hand. And deciding to suspend or ban them would become huge own-goals unless you have alternatives.

Let’s follow the Chinese model: the best defense is offense; create and support alternative companies and disintermediate the global techs (see below) in your jurisdictions so that on tax day, you will be in charge!

Very excited that through Tekedia Capital, we will inject $millions into seven Africa-operating startups. These companies cover six sectors and we are very confident that they would outperform. From next week, I will begin to share the portfolios once we finalize the deals.

Innovators, keep building and I want you to check Tekedia Capital to see how we can support your missions. Let’s ride the rocketship together.

Future investors, we want to work with you to build the NEXT Africa. Learn more and join our syndicate.

My presentation in Alibaba is scheduled on Thursday, July 8.  I will speak on “Building on Numbers for the African Time”. Yes, when you read the news, things could be exceedingly challenging. But look deeper, you will see latent opportunities. In a DealRoom Nigeria Board meeting at 11pm WAT yesterday, Chairman Kyari Bukar provided insights as we spoke. Quickly, right there, you can see that tomorrow is a huge promise.

So, I think that Africa is moving into a cambrian moment of entrepreneurial capitalism, powered by digital technologies, and innovators will use the tools to combine and recombine factors of production to fix market frictions at scale. But we need to build on Numbers because we have to eliminate guesswork! Yes, move from scalars to vectors; with vectors, you have directions.

BrandMobile Africa, creators of Kuuzza announced the launch of its decentralised sales platform, developed specifically for businesses to connect seamlessly to motivated sellers. 

Business owners now have the opportunity to expand their businesses to reach new demographics faster without the interference of middlemen or multiple retailers while sellers can earn money by selling products on the virtual inventory without any upfront capital.

In effect, Kuuzza is automating the traditional person to person commerce that is often driven by personal relationships, word of mouth and social commerce. 

“It is with great happiness and genuine excitement that we announce the release of Kuuzza,” said Toby Nwanede, CEO and co-founder of Kuuzza at the brand launch.

The Gap Kuuzza is Bridging in The Retail Industry

Kuuzza provides a risk-free, exciting, profitable & sustainable business for young, agile and entrepreneurial Nigerians looking for an alternative source of income.

Kuuzza’s solution touches manufacturers, distribution companies, logistics providers, fulfilment centres, credit/loan facilitators, etc. 

Kuuzza combines retail, tech, escrow payment integration and logistics in order to attain customer fulfilment. With Kuuzza, everyone’s a winner. Every stakeholder, be it the vendor, seller or end-user, everyone gets value for every sale. 

Why choose Kuuzza?

Business owners can manage and keep track of their inventory. Products are available to resellers at no upfront cost. Sellers can access thousands of products on the go. Payments are processed using a secured, frictionless payment channel that is accessible by all. 

Resellers can select any product on Kuuzza, decide and add their desired profit themselves before selling directly to customers. For every product sold on Kuuzza, resellers earn points that can be redeemed for airtime, vouchers and cash. 

All these benefits and more are available to all stakeholders on the Kuuzza platform. 

‘’Today has been a proud and humbling day as we launched Kuuzza in a small but wonderful event” said Toby Nwanede, CEO and Co-Founder, Kuuzza. He continued, 

“I am deeply grateful to my team at BrandMobile Africa who have worked tirelessly to put this product together. Kuuzza isn’t just a powerful solution, it represents a significant project for us. What is more powerful is that every single thing that you are selling on this platform can be tracked in real-time through your Kuuzza dashboard. Vendors can see who is selling their products, and how their product is performing – these are real data that can be used to make quick intelligent decisions”. 

L-R: Munachim Anyamene, Project Manager, BrandMobile Africa, Toby Nwanede, CEO and Co-Founder, Kuuzza, Esohe Igbinoba, Brand Consultant and Host, Kuuzza Brand Launch, Blessing Abeng, Pannelist and Branding and Communications Expert, Ayotunde Lanwo, Product Manager, Kuuzza, Padebi Ojomo, Panelist and Founder, Social Media School, Habeeb Aremu, COO and Co-Founder, Kuuzza, Moshood Aremu, Head of Marketing, Kuuzza at the Kuuzza Brand Launch in Lagos on Friday.

While speaking at the event, Habeeb Aremu, COO and Co-Founder, Kuuzza had this to say, ‘’Kuuzza will be among the most significant platforms empowering Africans (businesses and individuals) in the next 5 years.  The objective is to ensure that for individuals it becomes a lifestyle application and for businesses, it becomes an enabler.’’

Gbemiga Jacobs, Founder, All Things Adire, a vendor on Kuuzza.com, who was present at the event, shared his thoughts on the platform, ‘’It’s awesome, this is really awesome, and a good one and makes my life easier, because I get to focus on producing while giving other chains to others including delivery. I will really also love to see more vendors onboarded and I am talking to 5 other people at the moment.’’

Hassan Tukpe-Ajikobi, Project Manager, Home Et Al shared his thoughts on Kuuzza’s referral program, ‘’I think the referral program will be a huge boost because those who are in the small and medium scale businesses will usually have downlines and if you can find a way to encourage them, they can bring more vendors.’’

How to sign up on Kuuzza.com

Getting started on Kuuzza.com is as easy as these few steps:

1. Create an account

Sign up at no cost and access our inventory immediately.

2. Find a product, decide profit and market 

Find and market products to potential buyers via social media or any other channel of your choice, sell.

3. Get paid

After selling, we handle the payments and logistics. You get paid. 

Founded by BrandMobile Africa, Kuuzza presents an opportunity for businesses to expand and reach into multiple regions without costly physical set-ups while providing a decentralized selling experience for Nigerians where everybody wins.

Twitter: @kuuzzanigeria Instagram:@getkuuzza