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Home Blog Page 5812

The Age of COIN – And Nigeria’s Own Goal

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Coinbase, a cryptocurrency exchange, has evolved to become the largest publicly traded exchange in the world. It began life in Nasdaq today and closed the day at $85.8 billion. With that, it has eclipsed the previous king, Hong Kong Exchange, which has a valuation of about $74 billion. Yes, Coinbase is more valuable than Nasdaq which houses it!

Coinbase, the largest U.S. cryptocurrency exchange, made history by going public on Wednesday, closing at $328.28 and giving it an initial market cap of $85.8 billion. The Nasdaq had set a reference price of $250 a share. Coinbase is the first major digital currency exchange to go public in the U.S., and the company recently estimated that it oversees about 11% of the total cryptocurrency market. The move also comes a day after Bitcoin reached a fresh high above $63,000, having more than doubled its price this year.

So, a public market has now validated everything: Coinbase which helps people buy and trade cryptocurrency has real value. It is no more the secret Wall Street traders, but real people who are pumping money to make this clear call. Yes, there is nothing else to expect as real people have voted with their money.

And if Nigeria is reading, this game is ending very soon. You need to take a better position by  regulating cryptocurrency, and allow your young people to participate. Follow the clear instruction of the Vice President of the nation where he noted: “There is a role for regulation here. And it is in the place of both our monetary authorities and SEC to provide a robust regulatory regime that addresses these serious concerns without killing the goose that might lay the golden eggs. So it should be thoughtful and knowledge-based regulation not prohibition.” 

We need to stop our own-goals – and listen to Prof Yemi Osinbajo, a professor of Law.

The Gold Winners!

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This observation may not be evident to many, but it has played like this for years: Edo and Delta states have always done very well in Nigeria’s National Sports Festival. In short, if you have been looking at the data for years, the Southsouth geopolitical zone has outperformed other regions. In the current edition, here is a breakdown of the top medal table:

  • Delta – 298 medals – 124 gold, 91 silver, and 83 bronze
  • Edo – 285 medals – 103 gold, 97 silver and 85 bronze
  • Bayelsa – 139 medals – 48 gold, 42 silver and 49 bronze 
  • Rivers – 101 medals – 27 gold, 27 silver, and 47 bronze
  • Lagos  – 92 medals –  22 gold, 27 silver, and 43 bronze medals.
  • Akwa Ibom – 77 medals – 17 gold, 21 silver, and 39 bronze,

Any reason for this dominance from the Southsouth states?

Tekedia Live Tomorrow – Transaction Due Diligence and Business Intelligence

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What do lawyers do during deals? What is due diligence and how do you position your firm to pass one? What is transaction intelligence? What do market makers look for? A Partner at @Niccom LLP,  Barrister Chike Obimma, will be in Tekedia Live tomorrow to discuss Transaction Due Diligence and Business Intelligence.

Thur, April 15 | 7-8pm WAT |  Transaction Due Diligence/Business Intelligence – Chike Obimma,  Partner at NICCOM LLP (Commercial Law Firm) LLP.

Zoom link in the Board.

Leading innovators and growth champions co-learn at Tekedia Institute Mini-MBA. Join our community here

Making a Case for SDG18 Eradicating Pandemics and Epidemics

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I am proposing a rethink of the UN Sustainable Development Goals (or SDGs), largely from an African lens. In this article, “Making a Case for SDG 18 Eradicating Pandemics and Epidemics,” my main contention is that Africa has always been late to the party from a global community perspective.

We have witnessed the laid back attitude of many countries who are party to numerous accords and treaties include those related to climate change and the sustainable development goals. I say laid back, because the arguably “smart” members put their national/ regional interests first. Is it protect Big Tech as is the case of the US or the Common Agricultural Policy (including fisheries) in Europe (notably France)?

Why is the UN SDG skewed towards climate change and the environment and less elaborate on health concerns (Africa’s main challenge), which have now been accentuated by the coronavirus pandemic and the firefighting approach to what should have been long foreseen?

Looking at the 17 SDGs, at least seven revolving around the environment i.e., SDG 6 (Clean Water and Sanitation), SDG7 (Affordable and Clean Energy), SDG 11 Sustainable Cities and Communities, SDG 12 Responsible Consumption and Production, SDG 13 Climate Action, SDG 14 Life below Water, SDG 15 Life on Land. In all of this,  only 1 is focused on health i.e., SDG 3 Good Health and Well Being. This makes me wonder how unhealthy people can take care of the environment and climate change related matters.

Malaria is still baffling Africa alongside Tuberculosis, Cholera and Ebola – all immunisable epidemics that preceded the technological advancements we enjoy today.

Believe it or not, Ebola is (not was) a pandemic only limited by its spread, and consequently relegated to the status of epidemic. However, neglecting its severity may well have made it more difficult to manage the current coronavirus pandemic. As a recent article in The Africa Report points out, African leaders are still at the preparatory phase of tackling the next pandemic.

Only recently, a report from the African Union read “Africa Mulls over Vaccine Manufacturing – African Union.” Read the excerpts of that news briefing:

African leaders and international and regional partners are holding a two-day conference to discuss manufacturing and supply of COVID-19 vaccines across the continent. President of the Democratic Republic of the Congo Felix Tshisekedi, who is the current chairman of the African Union for 2021, South African President Cyril Ramaphosa, Rwanda President Paul Kagame, and Senegal President Macky Sall are attending the two-day conference…

 

The list of attendees at the conference cannot get any bigger that the following four:

  • Moussa Faki Mahamat: Head of the African Union Commission.
  • Tedros Adhanom: Director General  of the World Health Organisation.
  • Akinwumi Adesina: President of the African Development Bank.
  • Ngozi Okonjo-Iweala: Director General of the World Trade Organization.

In his welcome address at the virtual conference, Mahamat called for what he described as “a strategic partnership for a new health world order” in view of enabling the continent to be able to meet most of its need for pharmaceutical drugs and vaccines.

In an article I published two years ago, “Meeting the Sustainable Development Goals through Higher Education,” I raised concerns about the preparedness of Africa towards meeting SDG 4 Quality Education.

Interestingly, the 2021 session (ninth in the series of meetings) of the High-level Political Forum on Sustainable Development (HLPF) taking place from 6 July 2021 plans to interrogate the national implementation of the SDGs by tracking progress and challenges at this level.

The HLPF is the main UN platform on sustainable development. It has a central role in the follow-up and review of implementation of the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs). All UN Member States as well as representatives from civil society organizations participate in the HLPF, which meets under the auspices of the UN Economic and Social Council (ECOSOC).

It also seems, from reading the agenda of the forthcoming conference, that only nine of the 17 SDGs would be on the table come July 2021.

The 2021 HLPF will also hold in-depth reviews of nine SDGs: Goal 1 (no poverty), Goal 2 (zero hunger), Goal 3 (good health and well-being), Goal 8 (decent work and economic growth), Goal 10 (reduced inequalities), Goal 12 (responsible consumption and production), Goal 13 (climate action), Goal 16 (peace, justice and strong institutions), and Goal 17 (partnership for the Goals).

In the light of the above, perhaps it may be too late or unnecessary to have another SDG, but the importance of refocusing efforts on preventing future pandemics and having an “armed response,” so to speak, strategy in place, may well move SDG 3 further up the agenda. For African Leaders, kindly make more judicious use of the resources you plan to set aside for Covid-19 vaccines by sourcing what you have limited capacity of making. Focus on sourcing and distribution for now and provide us with an update on the Ebola vaccine and other diseases that pose a clear and present danger.

Tekedia Capital Launches To Democratize Wealth Creation

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Good people, I am very happy to share that we have launched Tekedia Capital and just made our first two investments (a digital bank in Nigeria, and a California-based digital-tech in energy downstream sector with focus in Africa). I invite all nations, all organizations, and all people of the world to partner with us to build the next Africa.

Through our playbook, everyone can have access to Africa-operating category-king companies, which are changing the ordinance of markets, and accelerating human welfare, community advancements and wealth in nations.

Prospective investors, click here to learn more, watch the short video, and schedule to speak with us [email capital@fasmicro.com and we will send time slots].

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. 

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. The opportunity is open for individuals in Africa, Africans in diasporas, global citizens in any place in the world, investment groups and organizations around the world.

This is the era of opportunity. Yes, a cambrian moment for the creation of new wealth, and I want you to get excited about the promises of the future. Click and learn more.

For startups which are looking for funds, learn more here. This video explains what we are looking for in startups and their leaders.

Let’s #BuildAfricaTogether.