Thank you Jollof Republik, Texas, USA for sponsoring 10 students to Tekedia Mini-MBA which begins June 7 to end Sept 1, 2021. At Tekedia Institute, we thank you for investing in the future of the youth; you are a Funder of the Future.
Jollof Republik is uniting people of a colorful heritage. It guarantees an authentic cultural experience, an opportunity to create impactful relationships, and a community that builds bridges and harnesses our collective strengths.
This scholarship is for current students in any university in Africa. Youth Up will do the selection and send the ten names to the Institute. (If your non-profit has structures to find in-need people or students for academic scholarships, email my team to be included in our recruitment system.)
Jollof Republik, we wish you open markets and opportunities as you continue to serve your customers, and bless humanity. Thank you for your partnership.
Good People, join me to welcome Saima Khan, a partner in Toronto-based Strategic Pricing Management Group (SPMG), to Tekedia Institute as a Finance Faculty, focusing on pricing, revenue growth and profitability.
SPMG is a global leader in the development of value-based strategies. The firm provides value-based solutions to its clients with unique guidance and insights for their pricing and marketing strategies and tactics.
Saima builds profit models and helps global firms strategically optimize profitability while accelerating revenue. She holds a Master’s Degree in Finance from Harvard University.
This course has been added in Tekedia Mini-MBA next edition which begins June 7. We expect it to help business leaders, entrepreneurs and founders acquire capabilities on how to maximally price their products and services without any adverse effect on growth.
We have two more days to conclude Tekedia Mini-MBA edition 4. At 7pm WAT today, Tekedia Live will focus on “The Call to Business Execution”. Largely, it is ACTION time and we need to go to the markets, and apply the constructs, capabilities and frameworks we have mastered. Until it is done, it has not been done.
How do we get things done? How do we execute in markets? I hope to meet in class in about two hours.
Thur, May 6 | 7pm – 8.30pm WAT | The Call to Business Execution – Ndubuisi Ekekwe . Zoom link in the Board.
Registration for the next edition of Tekedia Mini-MBA (June 7 – Sept 1, 2021) continues here . It is $140 (or N50k) for the 12-week program which is self-paced and wholly online. Join us.
Paystack, a Nigerian fintech startup, which recently wasacquired by Stripe, is planning to expand its services to South Africa, an indication of further growth since its acquisition seven months ago.
The startup has come from a little beginning to become a notable payment platform in the global stage. In 2018 when Paystack raised $8 million in Series A funding, led by Stripe and others, it was only powering 15% of all online payments in Nigeria. With a customer-base of more than 10,000 businesses on its platform, Paystack’s next line of action was to expand to African countries. It started with Ghana.
Ever since then, the company has seen significant growth, increasing its customer-base in Nigeria to 60,000, powering around 50% of all online payments. The customers which include MTN, SPAR and UPS, use the company’s software to collect payments globally.
Techcrunch reported that the South African launch was preceded by a six-month pilot, which means the project kickstarted a month after Stripe acquired it. And also, Stripe is gearing toward a hotly anticipated IPO, which is fueling its aggressive expansion to other markets.
It is also seen as a reason why the company acquired Paystack as it was seeking a foothold in Africa. Before acquiring Paystack, the company added 17 countries to its platform in 18 months, but none from Africa.
Paystack founders
In March,Stripe raised $600 million in additional rounds to expand its services in Europe, putting its valuation at $95 billion.
“The company will use the capital to invest in its European operations, and its Dublin headquarters in particular, support surging demand from enterprise heavyweights across Europe, and expand its Global Payments and Treasury Network,” Stripe said in a statement.
While Europe offers a huge market for Stripe, the fintech boom in Africa presents growth opportunities that the company cannot ignore.
“There is an enormous opportunity. In absolute numbers, Africa may be smaller right now than other regions, but online commerce will grow about 30% every year. And even with wider global declines, online shoppers are growing twice as fast. Stripe thinks on a longer time horizon than others because we are an infrastructure company. We are thinking of what the world will look like in 2040-2050,” CEO Patrick Collison said.
Nigeria, Ghana and now South Africa make up the 42 countries where Stripe is operational, and the company hopes to ride on the back of Paystack to penetrate more markets in Africa.
“South Africa is one of the continent’s most important markets, and our launch here is a significant milestone in our mission to accelerate commerce across Africa,” said Paystack CEO Shola Akinlade of the expansion. “We’re excited to continue building the financial infrastructure that empowers ambitious businesses in Africa, helps them scale and connects them to global markets.”
However, the new market presents Paystack with a new challenge different from what it had to deal with in West Africa, where it worked with different businesses and grow a local team to handle on-the-ground operations during the six-month pilot.
In South Africa, fintech companies like Yoco and DPO, who are already dominating the market, are ready to give Paystack a run for their money. The move into South Africa thus sets the Nigerian startup up for a fierce competition. But the company’s product marketer said the new market is wide enough to accommodate everyone.
“The opportunity for innovation in the South African payment space is far from saturated. Today, for instance, digital payments make up less than half of all transactions in the country,” Abdulrahman Jogbojogbo, product marketer at Paystack said. “So, the presence of competition is not only welcome; it’s encouraged. The more innovative plays there are, the faster it’ll be to realize our goal of having an integrated African market.”
Khadijah Abu, head of product expansion, added that “for many businesses in South Africa, we know that accepting payments online can be cumbersome. Our pilot in South Africa was hyper-focused on removing barriers to entry, eliminating tedious paperwork, providing world-class API documentation to developers, and making it a lot simpler for businesses to accept payments online.”
While working in a company, we had a Technical Fellow, the highest and most respected title any engineer could have in the company. Fellows are legends because they are the company; some earn more than the CEO. They are men and women who have made impacts through technical quality and engineering prowess. They hold powers which some CEOs may not command. Any Board from Google to IBM to Apple, and indeed top-grade technical companies, will prefer to fire a CEO than annoy the Committee of Fellows.
For this Fellow, some electrical circuits in most textbooks are named after him. I never met him in person but I passed through his office. He did not use computers and he did not use CAD tools to design circuits. But whenever he faxes circuits from his home, many PhDs would become busy: the high priest has sent new circuits and now we need to go ahead and integrate.
That takes me to Eden Hazard who left Chelsea to Real Madrid. Last night, his former team made him irrelevant. Eden was largely of no impact. Recall when David Beckham left ManU for Real Madrid, the legendary “bending” struggled. Recall Ronaldo, from Real Madrid to Juventus, and how those magical moments before goalposts dimmed.
In careers, most times, we do not appreciate the support our institutions give us. Like the Fellow who could work from home and communicate to PhDs via fax, a new company might not have been ideal for him. Before you get carried away on your excellence, check if the new place can nurture and accommodate what makes you amazing. Of course, that depends if you understand that there are many assists to your success which may not be available in other places.
The Belgian’s move to Real Madrid has been a bit of a disaster so far and footage of the 30-year-old’s reaction to losing the Champions League semi-final will only anger the club’s passionate fans further.
After the full-time whistle had been blown, Hazard re-entered the pitch and decided to have a laugh with Chelsea pair Edouard Mendy and Kurt Zouma in front of the television cameras.
Comment #1: Nice one, Sir But, in the case of Hazard, he felt he had given his all for Chelsea Football Club and needed to take a new career step, pursuing his dream and working alongside his idol, Zinedine Zidane. We can not fault him for following through with his career ambitions as we all have one, Cristiano Ronaldo felt he was no longer valued at Real Madrid. He felt expendable, so he had to leave. David Beckham had a feud with his manager Alex Ferguson over his celebrity lifestyle which the manager saw as a distraction to his contributions to the team. So, he had to leave. Sir Ndubuisi Ekekwe, true, the grass is not always greener on the other side, but I felt these guys moved for justifiable reasons perhaps bar David Beckham ?
My Response: CO, you may need to re-read this piece, again. No one said you cannot work with your idol. No one said you cannot be a celebrity and have issues with your boss. Here, I am discussing results and nothing more. I did not fault them – I simply used them as cases on the intangibles. Many moves turn out well of course; I simply said, shine your eyes as you move.
