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Home Blog Page 5801

The Need to Regulate the Influx of Monosodium Glutamate into Nigerian Market

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I helped a client to collate information on monosodium glutamate from scholarly articles and since then, I felt like throwing away all the bouillon cubes in my house. Of course, that is almost impossible because I have made that substance a compulsory ingredient for most of my dishes; it has become the master of my kitchen. But after I gathered information on this compound, I realised why my mother always refers to it as the silent killer.

I could remember a phone-in programme, where someone asked why monosodium glutamate has not been banned from the Nigerian market and the response given to that question. According to the health officer, whom the question was directed, monosodium glutamate (MSG) is just a proteinous substance, which some people react to. She made it sound as if MSG is as harmless as milk. I mean, the way she answered that question, it was as if since milk is allowed in Nigeria despite some people reacting to it, MSG should also be allowed. But fact remains that MSG has adverse effects, which can affect everyone that takes it in excess, especially after a long time of usage. It spares no one.

Yes, MSG has an overdose. From what I gathered, the highest daily intake of the substance is 60mg/kg of body weight. Anything higher than that floods the system with the substance and creates problems for the consumer/s. So when you hear manufacturers, chefs, and vendors telling you that MSG is safe, tell them they are not being honest.

In case you are wondering what that seasoning that makes you the best cook in the neighbourhood does, you may have to know that your mental, psychological, and nervous health are endangered by that sweet killer. You may also need to know that it attacks your liver and kidney each time you overdose on it. Your reproductive system is also in danger; even your DNA isn’t left out. Your skin and your digestive system are equally harassed by this substance. Now you can understand why you sometimes have diarrhoea after eating at parties.

You may say there is nothing to worry about because you will never overdose on the substance, but I’m here to tell you that it is very easy to take an excess of the substance. Go to the market today and take a look around you. What do you see hanging on the shelves of those people selling provisions, food condiments, and convenient foods? Pick up as many of them as you can and read their labels. Now, tell me, how many of them are free of MSG? Do this little survey and you will understand that your system is already over flooded with this substance. MSG is in almost everything we eat today, except unprocessed food items. We, actually, should be worried.

But what is more worrisome is the fact that the quantity of MSG contained in these products is not well specified. Ok, it is written on their packs; but how do you decide how many milligrams of the substance you take per serving? How can you tell if crushing in two cubes of your favourite seasoning into your pot of soup is safe for you? What is even the level of MSG in that cube you are holding? Did you notice they didn’t include that detail on the label? What are they hiding?

This article is not to take people’s sources of living away from them or to deny any of us the pleasure of eating palatable meals. This article is a call to those in charge to regulate how these manufacturers flood our markets with MSG. It is also a call for them to insist that the level of MSG in every serving/cube/sachet is specified. This article is also demanding that MSG should be given the same level of attention done to tobacco: the manufacturers should warn consumers of the risks they face each time they use their products.

As for us, we need to rediscover our African seasonings left for us by our forefathers. Think of your health each time you take this substance. Remember, health is wealth.

TEKEDIA CAPITAL – what we look for in startups to invest [video]

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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. Learn more here.

We invest in mainly technology-anchored companies and are sector-agnostic which means those companies could be operating in any industry, including finance, real estate, education, health, logistics, etc. In this video, we explain what we look for in startups and founders to invest. Go here, learn more and send us your business plan or pitch deck.

This one below explains Tekedia Capital Syndicate

Nigeria, It’s Time for Action, Let The Think-Tanks Become DO-TANKS

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Yesterday in a Society of Petroleum Engineers (SPE) event, I spoke before some of the most talented young people in Nigeria. Banking, oil & gas, and telecoms continue to attract the core talent of the nation. You can add well-funded startups and foreign-invested insurance firms in the group. When you speak with these young people, you will notice one thing: action and execution. They speak with clarity, and with a high optimistic exuberance, powered by sheer knowledge base, anchored on the constructs that with efforts, any problem could be solved. They are pragmatic and action-oriented.

Later in the day, I led a session on Discovering Opportunities in Tekedia Live. Interestingly, the innovators and project champions there converged on the same trajectory: besides discovering them, only taking ACTION unlocks opportunities. Yes, everyone knows that Nigeria needs clean water, good schools, better healthcare….those are latent opportunities. But to get anything from those, you need to take ACTION.

Across human history, the destinies of people have been practically defined by having men and women who take actions through the spirit of entrepreneurial capitalism. On this Sunday, I want to wish Nigeria, Africa to take ACTION on healthcare, education, agriculture, governance, etc – and advance our communities and nations.

We have had many Think Tanks (too many please), this is the era for DO-TANKS. #ACTION4Progress . Yes, Just Do it!

Happy Sunday.

Ant Group Plots Jack Ma’s Exit to Ease China’s Scrutiny

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Days after Chinese authorities handed Alibaba $2.8 billion fine for monopolistic practices, things are taking a new turn for the e-commerce’s founder, Jack Ma.

Reuters reported, citing sources familiar with matter, that Ant Group is exploring options for founder Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw a line under Beijing’s scrutiny of its business.

Ma ran into trouble with the authorities late last year and inadvertently put his conglomerate under their radar. Now, investors in Ant are looking for a way to take the yoke off by sacrificing Ma.

The report for the first time, give details of the latest round of meetings and the discussions about the future of Ma’s control of Ant, exercised through a complicated structure of investment vehicles. The Wall Street Journal previously reported that Ma had offered in a November meeting with regulators to hand over parts of Ant to the Chinese government.

According to the report, officials from the central bank, People’s Bank of China (PBOC), and financial regulator China Banking and Insurance Regulatory Commission (CBIRC) held talks between January and March with Ma and Ant separately, where the possibility of the tycoon’s exit from the company was discussed, according to accounts provided by the source familiar with the regulators’ thinking and one of the sources with close ties to the company.

Ant denied that a divestment of Ma’s stake was ever under consideration. “Divestment of Mr. Ma’s stake in Ant Group has never been the subject of discussions with anyone,” an Ant spokesman said in a statement.

It could not be determined whether Ant and Ma would proceed with a divestment option, and if so, which one. The company hoped Ma’s stake, which is worth billions of dollars, could be sold to existing investors in Ant or its e-commerce affiliate Alibaba Group Holding Ltd without involving any external entity, one of the sources with company ties said.

But the second source also with company connections said that during discussions with regulators, Ma was told that he would not be allowed to sell his stake to any entity or individual close to him, and would instead have to exit completely. Another option would be to transfer his stake to a Chinese investor affiliated with the state, the source said.

Any move would need Beijing’s approval, both sources with knowledge of the company’s thinking said.

The accounts provided by all the three sources are consistent in terms of the timeline for how discussions have evolved over the past few months. On the company side, one source said Ma met regulators more than once before the Chinese New Year, which was in early February. And the second source said Ant started working on options for Ma’s possible exit about a couple of months ago. The source familiar with the regulators’ thinking said Ant had told officials during a meeting sometime before mid-March that it was working on options.

The source familiar with the regulators’ thinking has direct knowledge of conversations between Ant and officials, while one of the sources with company ties has been briefed on Ma’s interactions with regulators and Ant’s plans. The other one has direct knowledge of Ant’s discussions about options. They requested anonymity because of the sensitivity of the situation.

The Ant spokesman did not provide any comments from Ma. Alibaba referred questions to Ant. Jack Ma’s office did not respond to Reuters’ request for comment made via Ant. The State Council Information Office, PBOC, and CBIRC, also did not respond to requests for comment.

The high-stakes discussions come amid a revamp of Ant and a broader regulatory clampdown on China’s technology sector that was set in motion after Ma’s public criticism of regulators in a speech in October last year.

Ma’s exit could help clear the way for Ant to revive plans to go public, which stalled after the tycoon’s speech, both sources proximate to the company said. Ant, which was about to raise an estimated $37 billion in what would have been the world’s largest initial public offering, aborted plans the day after Ma’s Nov. 2 meeting with regulators.

Since then Beijing has unleashed a series of investigations and new regulations that have not only reined in Ma’s empire but also swept across the country’s technology sector, including other high-profile, billionaire entrepreneurs.

For Ma, 56, who once commanded cult-like reverence in China, the consequences have been particularly severe. The tycoon completely withdrew from the public eye for about three months and has continued to keep a low profile after a brief January appearance.

China’s antitrust regulator fined Alibaba a record $2.8 billion on April 10 following an antimonopoly probe that found it had abused its dominant market position for several years. A couple of days later Ant was asked by the central bank to become a financial holding company, bringing it under the ambit of banking rules that it had managed to avoid so far and allowed it to grow rapidly.

“China still likes to promote its technology firms as global leaders just as long as they don’t get too big for their britches,” said Andrew Collier, managing director of Orient Capital Research.

CONTROLLING STAKE

Although Ma had previously stepped down from corporate positions, he retains effective control over Ant and significant influence over Alibaba.

While he only owns a 10% stake in Ant, Ma exercises control over the company through related entities, according to Ant’s IPO prospectus.

Hangzhou Yunbo, an investment vehicle for Ma, has control over two other entities that own a combined 50.5% stake of Ant, the prospectus shows. Yunbo can decide all matters related to Ant and exercise the combined voting power of the three entities, the prospectus shows.

Ma holds a 34% equity interest in Yunbo, the prospectus shows.

One of the sources with company ties said there’s “a big chance” Ma would sell his equity interest in Yunbo to exit from Ant, ultimately paving the way for the fintech major to move closer to completing its revamp and reviving its listing.

Barcelona Wins Copa del Rey, Increasing their Chances to Keep Messi

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Barcelona on Sunday, won Copa del Rey for the 31st time, equaling Real Madrid’s 92 titles record. The Catalonian giants piped Athletico Bilbao 4-0 to clinch their first title since 2018/19 season.

After a barren first half, French forward Antoine Griezmann opened the scoring with a 59 minute strike to put Barcelona ahead. Dutch midfielder Frenkie De Jong doubled the lead in the 63rd minute, and Argentine wonder boy Lionel Messi sealed the victory with a brace netted in the 68th and 72nd minutes of the match.

It was a breath of fresh air for Barcelona that has been riddled with crises, which have put the future of its captain Messi in doubt. The club is hoping to convince the six-time Ballon D’or winner to stay by returning to winning ways. Messi, who last year, requested to leave Barcelona, has been unhappy with the performance of the club, in and off the pitch, and was desperate to find joy in his trade by winning titles once again.

The Spanish giants got knocked out of the Champions League on Tuesday by Paris Saint German, narrowing their title hope for the season under the leadership of new coach, Andy Koeman.

“We are really happy for this title. It has been really tough Copa del Rey, suffering in a lot of games. We won all the ties. It is always special to celebrate a title, a great day for the club,” Messi said after the match.

The 2020/21 season began shaky for the Catalan side, casting doubt on the ability of Koeman to convince Messi to stay. But things turned around eventually, and Barcelona moved to top three in the league table from sixth position.

The Copa del Rey title is expected to change Messi’s decision and make him stay in his childhood club. In March, following the election of a new president, Joan Laporta, the goal has been to convince Messi to stay, even though Barcelona is also dealing with a financial crisis.

“I’m convinced that Messi wants to stay, he is deeply rooted in Barca. That’s what we want most. We will try to do whatever it takes, within our possibilities so that he continues to play for the club of his life,” Laporta said after the Copa del Rey title win.

Reports from Spain said Laporta’s plan is to convince Messi with a contract that will start with a lower salary than what he has now, and increases as the financial situation of the club improves.

Messi has maintained that his love for Barcelona goes beyond money, and he only wants a club with projects and a winning team. The recent changes in the club, from the president to coach to players, are believed to be wielding enough conviction for a better future that will make Messi stay.

“It’s been a difficult year. Like in life, you fall down and have to get back up. The team has turned the situation around. In 2021, the team is different, playing well. With a president who’s come back, Joan Laporta… it’s like starting again, a reset,” Gerard Pique, Barcelona’s center back said.

Barcelona is currently at the third position in the La Liga table with eight matches remaining, which means there is still a chance for the club to win the double in the season. With Copa del Rey down, a La Liga title will make the job of getting Messi to sign a new contract easier for Barcelona.