At the Tekedia Institute, we have more than a dozen companies co-creating and co-learning through our facilitation on their innovation and growth processes. We begin the process by sending the management a questionnaire. They complete it and return, and using that insight gathered, we design a course for that company. Then, we run courses, videos, assignments with the company’s staff and partners, focusing at the core on why they came to us.

This is an evolving new model of education: co-learning with staff and partners alongside. They are the experts on what they do, but we are thought-leaders on the frameworks and models. We infuse our constructs and deepen their perspectives and capabilities. Ask for our brochure on this service. 

We call this Symphonic Innovation:  innovation that is not domain-specific, but is anchored on a unified and harmonious approach in the deployment of business processes to accelerate productivity gains and cushion competitiveness. It is the most impactful of our mission in the Institute, and one that has put the 7 degrees I have earned in life, across different fields into a greater use. Simply, I understand many things through that variety in education.

Next week, one of those firms, we can share publicly, will graduate dozens of its partners. We want to wish We For Good members and its founder  Temitayo Ade-Peters abundance in the future of doing good. A Texas-based based firm is also graduating its members on African insights; we wish them open doors in Africa.

Learn more about Tekedia Mini-MBA for Corporates here https://school.tekedia.com/course/corporates/

I am thrilled to announce that I will deliver the 2020 Africa Business Conference keynote at the Lagos Business School, of Pan-Atlantic University. LBS, as we all know, is  a leader when it comes to business education in Nigeria. Nigeria will rise in markets before it can improve its public sector since the taxes and fees from markets would be needed to make those public institutions better.  (GTBank’s profit before tax, in 2 months, is more than the whole annual budget of Abia state).

Guaranty Trust Bank Plc (GTBank) has returned the unaudited numbers for Q3 2020: they look really good. Profit before tax is N167.4 billion. Yes, GTBank made  more than the 2020 budget of Abia state in 9 months as profit; in 2020, Abia State has planned to spend N137. 419 billion but of course the actual expenditure would be off by billions due to revenue issues. Update: the state revised the budget to N102 billion.

Of course, while we desire for a more efficient use of our factors of production, in governments, the wealth of modern Nigeria lies in our capabilities to build new constructs in business systems which can fix market frictions, unlock value, and deliver shared prosperity for ALL citizens. So, going to a business school to speak takes that message to the mountaintop because the future high priests  of markets, to make use of them, are there.  It would be a great one.

This conference is an initiative of the Africa Business Club student-led activity. Date is Nov 28, 2020; more details are coming.

Today at Tekedia Mini-MBA Live, two industry veterans and Faculty at Tekedia Institute will take us on an academic excursion on capital markets and fundraising for startups. Azeez Lawal, CEO of Trustbanc Capital and Ibraheem Babalola, CEO of Clane will lead the session.  Zoom link in the Board.

Saturday (Nov 21)| 7pm-8pm WAT | Capital Market Operations & Startup Funding | Azeez Lawal, Trustbanc Capital & Ibraheem Babalola, Clane

To join the next edition of Tekedia Mini-MBA, register here.

It was a highly well received course. And it is coming out as a book. Tekedia Faculty, Japheth Jev, ACMA, CGMA, ACA, is finalizing a new book, titled Personal Finance and Wealth Management. This book is an expanded version of a course he developed for Tekedia Institute’s Mini-MBA.

In our second edition, we reached out to Aba and Onitsha traders through our grassroots networks: we focused on impacting knowledge and skills on personal finance and wealth management. Many responded and enrolled. And then asked for the course written material in the form of a book. Books look better on the table than printed materials especially in stores! We are responding to that market need.

Once everything is done, the book would be available in stores in Nigeria, and other places where books are sold. It joins “Seizing our Singularity Future”, another Tekedia Mini-MBA course ,which is becoming a book, to be co-published by Tekedia Institute and TAFFDs USA.

Join our Institute – we’re home of innovators http://school.tekedia.com/

It is raining competition for some challenger fintechs as Google goes closer into quasi banking operations. Yes, while Google will not be the bank (it has to partner with banks), it will take out the shine which has made some digital banks preferable to the traditional banks. So, if an old century bank gets the blessing of Google, and people can access its services via Google, the acceleration of some digital banks may be muted. 

Yes, Citi can send Google to go and battle the digital competitors while it stays at the back handling the regulatory paperworks. This is a new order with a massive new basis of competition. As I noted in this Harvard Business Review piece, Google and Facebook are out for dominance and you need to compete through the flanks. Never, I repeat, go frontally in this battle. CNBC summarizes this new Google playbook.

• Google will let users open a bank account through its Google Pay app, in a partnership with Citi and Stanford Federal Credit Union beginning next year.
• The tech giant is relaunching the payments app to allow people to pay friends, similar to PayPal’s popular Venmo and Square’s Cash App.
• “It’s going to have a broad appeal, but especially among the younger population, Gen Z, that are more tech-driven and mobile-focused,” said Anand Selva, CEO of U.S. consumer banking at Citi.

“Along with our bank partners, we were looking to make banking more relevant for the mobile-first generation,” Caesar Sengupta, general manager of payments at Google, told CNBC in a video interview. “It will help our partners make banking more approachable to that generation, and not only make it more relevant, but make it more fun.”

As you can see here, Citi is already having fun: Paypal, Venmo, etc, we have help now! Hahaha.

Incoming CEO of Citibank Jane Fraser also appeared on Google’s virtual event, saying the Citi Plex account is “a new way to bank.” Today’s customer is of a new generation that wants a “fresh, relevant and better relationship with their money,” Fraser said. “We want to empower them with an account that provides smart very smart financial services built from the ground up with financial wellness and mobile functionality at the very core of the design.”

You’ll create an account from your phone, and “within minutes your whole bank is on your phone,” Fraser said. There are no monthly fees or minimum balance requirements, and the app offers “AI-powered insights to help users save more and set their saving goals.” You’ll get a digital Mastercard debit card instantly and a physical contactless card upon request.