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MultiChoice (DStv, GOtv) Double Play Strategy on $81 million, 20% Deal with BetKing

By
Ndubuisi Ekekwe
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1

Tomorrow at Tekedia Live, I will lead our live session. During my monologue part, I will discuss Scaling through Partnerships. As I do that, I will illustrate how MultiChoice is executing a winning strategy, and what we can learn from the firm. Also, I will discuss the latest deal where the entertainment giant in Africa acquired 20% of BetKing for $81 million.

Many of our Tekedia members would have understood the strategic play in that acquisition: Double Play Strategy; I will explain at deeper levels. Essentially, the best consumer money-making business in BBNaija is the gambling part in which betters wager who among the housemates would be cut as the show progresses.

Unfortunately, MultiChoice/DStv was not capturing any of those massive betting revenues. During the last edition of BBNaija, many betting sites built products around BBNaija, and many of them made tons of money. For DStv, buying a part of BetKing is to keep that value in house by now using the betting platform as its official partner. Possibly, through that, it would capture value. This is a good example of a Double Play Strategy: MultiChoice is going to capture tons of monetary value through BetKing with the show serving as the One Oasis.

MultiChoice buys 20% in Betking for $81 million, valuing the company in excess of $400 million.  Essentially, MultiChoice does not just want to live on European soccer rights which keep rising on aggregate price, affecting margins in a continent where consumers are discovering alternative ways to be entertained.

So, provided you call it entertainment – watching Ronaldo and Messi or playing and betting their avatars – money can be made. With BetKing, MultiChoice thinks there is an opportunity to ramp up revenue from this exploding sector in Africa, and it could do that without relying on the capacity to ship more money to hold football rights in European capitals.

Do not feel stressed that I am discussing betting here – it is one of the things that happen for any educator. You do not always bring your morality in the game provided that business is a legal sector. Yes, that you are an environmental activist does not mean you cannot teach petroleum engineering in college.

The schedule as follows: Wednesday | 7pm – 8pm | Scaling through Partnerships, MultiChoice/DStv BetKing Deal, General – Ndubuisi Ekekwe | Zoom link

 

Desirable Qualities of An Educated Person

By
Ozioma Okey-Kalu
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0

Being educated is not only about passing through a formal classroom. Education is more than that. But unfortunately (though fortunately for some people), education is attributed to literacy. So when you hear many people say they are educated, they actually mean they can read and write or that they passed through formal schools (usually higher institutions). In other words, once you are a literate, you are (or you are supposed to be) educated. Of course, this belief is a supposition because it is not always true. In fact, it is rarely true. This is why we have a lot of uneducated intelligent literates in every corner of the world.

Literacy is just one of the aspects of education. It is one of the things an educated person is expected to possess. Of course, before the invention of writing, man was educated. But nowadays, literacy is one of the yardsticks for measuring people’s level of education. All I am trying to say here is that being a literate is a sign that someone passed through formal education. Nevertheless, an illiterate cannot be said to be uneducated. It is possible that he had another type of education, which had nothing to do with learning the symbols that represent sounds in his language. So, the desirable qualities of education mentioned in this essay is not reserved for only those that can read and write but for every human, who has received trainings and passed through experiences that have formed and reformed him.

  • Self-Esteem

One of the qualities of an educated person is healthy self-esteem. He is never self-conceited. Even with his abundant ideas and knowledge, he is never arrogant or wishes to be worshiped. He acknowledges that he has the knowledge but he understands that others have higher knowledge. The good thing about this person is he rarely feels he’s being looked down because his submission is challenged (he understands that everyone won’t agree with him). He allows the opinion of others and never undermines them. The way he respects himself is the way he does to others. This quality is actually rare these days because people that have a little knowledge seek for fans and worshipers; pity.

  • Desire to Grow

Training and experiences teach an educated person that knowledge is unlimited: he can never know it all. This person appreciates the fact that he is a learner even in the grave. This quality makes people like this seek for more knowledge – the more he learns, the more he finds out there are so many things he didn’t know. It is this quality that causes them to listen, learn, unlearn, relearn, assimilate and analyse. This quality makes them realise that two different persons may not view a phenomenon from the same angle. This is actually the quality that turns them into experts. Of course, the opposite is always the case with an uneducated person, be he a literate or not.

  • Analytical Abilities

Unless a person understands the true nature of unbiased research, he will fail to solve existing problems. The good thing about educated people is that by describing what is happening around them, they predict solutions to existing problems. They are never quick to judge or conclude and they don’t believe in surface value. Somehow, they understand the complexities of human nature and apply them to situations. And they are never wrong. This quality is why Plato, Aristotle, Socrates and the rest are still cited today and their submissions still applied to the study of present day predicaments. These people developed their analytical skills through education; a quality many literates lack.

  • Desirable Characters

You must have noticed there are some characters that when people exhibit, they will be called uneducated (or illiterate). A person’s poise, or lack of, tells a lot about his level of education. Usually, when people are passing through some forms of training, their characters are also formed. In schools, teachers do not condone lateness, noise, lies, laziness, haughtiness, rudeness, and what have you. They chastise students that exhibit these characters so that they drop them as time goes by. To a large extent, the positive characters people picked up from school follow them all through life unless they chose to drop them along the way.

Education is a continuous process; it doesn’t end. When you realise there is something you are not doing well, instead of continuing with it, you drop it. That is also education. So as you gather knowledge in your field and acquire several professional skills for your place of work, remember to reform yourself. That is what education is all about.

SystemSpecs & Remita Business Case – Tekedia CaseWorks

By
Ndubuisi Ekekwe
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0

SystemSpecs is a leading software company in Nigeria. Remita, a fintech, is one of its subsidiaries. We have completed a case study for Tekedia Mini-MBA which begins Feb 8. Tekedia Fellow, Maro Elias, did the primary research and draft while I finalized the case. The next innovators are co-learning at the Tekedia Institute. Visit our NEW portal https://school.tekedia.com/ – the home of Tekedia Mini-MBA.

Tekedia offers an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents.

Register here and join us.

How To Apply for Lagos State’s N1 billion Seed Capital Investment in the Hospitality, Tourism and Entertainment Sector

By
Amarachi Uche
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0

The Lagos State Ministry of Tourism, Arts and Culture has designed a palliative eligibility form to enable it evaluate applications of qualified practitioners for its N1 billion seed capital investment in the Hospitality, Tourism and Entertainment sectors.

To be considered eligible for the seed capital, here as the requirements:

  •  Must be a resident of Lagos State (LASSRA).
  •  Business must be within the creative Arts, Tourism and Hospitality sector.
  • Business must be registered with the Lagos State Ministry of Tourism, Arts and Culture.
  •  Business must be operational for at least One (1) year.
  • For Term Loan and Hub Loans/Production Loans within the SME category, business must be registered with CAC.
  • Must provide Guarantors with a sizable income: Two (2) Guarantors for Term and Hub loans/Production loans within the SME category. One (1) of the Two (2) Guarantors must be an Association and One (1) Guarantor for Term Loans within the ME category.
  • Evidence of Tax Compliance.
  • The Ministry implored interested and qualified practitioners to visit the Hotel and Licensing department of the Ministry of Tourism, Arts and Culture at Block 10, Secretariat, Alausa, Ikeja for further clarifications and any other assistance or call 08023320906.

The Access Bank’s Mistake

By
Ndubuisi Ekekwe
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6

Many people are pushing a narrative that Nigerians should boycott Access Bank. The question is this: What can Access Bank Plc do? The government asked it to freeze bank accounts of leaders of ENDSARS protests, and as a law-abiding institution, it went ahead to execute the notice.

I had noted that Access Bank did not read the signals very well: it ought to have known that doing what the government wanted would create a public relations nightmare since the notice could be construed as being defective. Yes, if peaceful protest is enshrined in the constitution as a right, freezing accounts of participants may not be legal, even if the protest degenerated into acts of vandalism, outside the controls of the original planners.

The bank had put a statement: “It is common knowledge that we and the entire banking industry are regulated entities and therefore operates under the authority of our regulators and law enforcement agencies. As such we are compelled to with regulatory directives.”.

Nigerians are calling for a boycott of Access Bank as a punishment against it for freezing the accounts of people linked to the recent #EndSARS protests across the country.

The Central Bank of Nigeria (CBN) recently obtained an order from a Federal High Court in Abuja to freeze 20 of such accounts in Access Bank, Fidelity Bank, First Bank Nigeria, Guaranty Trust Bank, United Bank of Africa, and Zenith Bank.

Some people are accusing Access Bank of freezing the accounts before the order which is being challenged in court. PREMIUM TIMES has obtained no such evidence.

Some Nigerians on Twitter said Stanbic IBTC rejected a similar order from CBN. PREMIUM TIMES could not verify this claim, as of the time of filing this report.

I call on people not to harm the bank – that is not necessary. What needs to happen is that Access Bank has to deepen its PR strategy. What the bank could have done was simple: immediately it received the list from the Central Bank of Nigeria,  it ought to have challenged it in a Nigerian court knowing that a judge would deny its prayers. Magically, by doing that, it could then argue that it was obeying a legal court order, different from a unit of the government. I am nearly confident that some banks went through that path, immunizing themselves from the public high voltage searchlights. The whole process can happen within 3 hours!

The problem here is the notion that the government can ask a bank to freeze an account of a customer, and the bank does it outside of any legal basis. It is time our banks learn to challenge even the central bank, just as Apple takes America’s CIA and FBI to courts, on cases where the tech giant knows it is on solid grounds.

Those calling for boycott should STOP. The bank’s N50 billion BOOST is a sign that it cares.

So, the news that Access Bank has earmarked N50 billion to support Nigerians through interest-free loans and grants to communities, young people, and SMEs (micro, small and medium-sized businesses) is commendable. Herbert Wigwe continues to lead; he won my person of the year a few years go.

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