Notes: Table below provides the scheduling of Tekedia Live this week. Nice piece from one of our community members on business model Comprehensive guidelines for the Certificate program capstone. Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company. Learn more. Tekedia Live Day Time (Lagos time) […]
Bayern Pips PSG 1-0 to Win Sixth Champions League Title
? Congratulations, Bayern – winners of the 2020 UEFA Champions League! ???#UCLfinal pic.twitter.com/ksKeqmgliR
— UEFA Champions League (@ChampionsLeague) August 23, 2020
“It’s difficult to come to terms with this feeling of joy at full time. It’s a dream for us all. We weren’t so relaxed in our build-up play; perhaps we lacked a little confidence from everyone. I’ve never had so much fun playing with a team,” Bayern Munich’s captain Manuel Neuer told Sky Sports after 90 minutes in Lisbon.
When you hear a statement like this from the German skipper, it means that Bayern Munich won the match and the trophy.
It has been a thrilling season for the German side, winning all their matches in the Champions League campaign is a record added to the season’s treble. Bayern had already won the German Bundesliga and domestic cup earlier.
Former PSG player, Kingsley Coman headed in the winner in the 59th minute to separate the two sides. It was Bayern’s sixth Champions League trophy.
“I’m very happy, it’s an unbelievable night – not just for the club, but for all the fans. Obviously, I wanted to have a good game, not because of Paris, but because I’m 100% Bayern and I was determined to win. I feel sorry for Paris because I came from the city,” Coman, who emerged man of the match, said after the game.
Paris Saint Germain (PSG) came into the Champions League final for the first time with a high hope, the French side has been thirsty for the trophy since its owner, Qatar Sports investment took over in 2011.
Over the past nine years, more than $1 billion has been spent on the purchase of players to fulfill the Champions League dream. Though the Parisians got closer than ever before this time, the dream was shattered.
Neymar and Kylian Mbappe were unable to find the back of the net of Bayern, and Paris has to live with the pain of the disappointment. Neymar and Mbappe were on the shoulders of Bayern defenders waiting for a breakthrough, but Neuer was standing like a rock on the goal post. He denied Neymar a chance to put PSG ahead with a superb save as Bayern’s Robert Lewandowski got the same treatment from the woodwork.
“All we lacked was the first goal. We had chances and they got the first goal. I’m convinced that if we’d got the first goal, we would have won that same game 1-0. We had very strong moments and others where we had to suffer. We weren’t clinical enough. We want Kylian and Ney to always score, but you can’t ask for that,” Thomas Tuchel, PSG coach said after the match.
“That was my last match for Paris. I’m sad, I apologize to the supporters and thank all the fans for their love,” PSG captain Thiago Sylva said.
Bayern coach Hansi said his team made life difficult for PSG by their pattern of play.
“When you think how we worked defensively until the 92nd minute – Lewandowski was chasing after the ball, that was incredible. It was a complete team performance.
“So many people deserve credit for this victory. You saw during winter how much determination we have in this team, which is obviously something you wish for as a coach,” he said.
The first half ended in a goalless draw, heightening the suspense that has followed the match from the beginning. But the second half changed the story with Coman’s header giving the German side the lead and eventually, the win.
“Winning the trophy today is the best thing that could happen to us. We worked incredibly hard and in the end it came through to be the best team in Europe,” Bayern winger Serge Gnabry tols BT Sports after the game. “It’s the final, Paris came out wanting to win and so did we. Nobody is going to give up easily but we came through.
“As long as it was 0-0, it was always going to be open for us. Of course, they were going to have chances. It was lucky they didn’t score and lucky we did score.”
The Champions League season has been marred by COVID-19 pandemic, forcing the matches to be played behind closed doors, denying the fans the thrills of live spectatorship. The knock-out games had been played in Lisbon with one tie only replacing the two-leg tradition.
Nevertheless, it has been a great season for Bayern Munich, winning 11 Champions League matches and scoring 43 goals. Though prolific striker Lewandowski didn’t score at the final, he has had a great individual season, scoring 15 goals in a single Champions League campaign, only two goals from equaling Cristiano Ronaldo’s record of 17.
Despite the disappointment, French president Emmanuel Macron and the Paris fans show their undying support for PSG.
“Congratulations to Bayern for their sixth Champions League title and to Paris for their exceptional run. The hour of victory will come for French football,” Macron said.
The Humanitarian Crisis in Nigeria
The state of humanitarian crisis in Nigeria has become alarming, especially in the Northern Eastern states of Borno, Adamawa and Yobe states, and has had a spill-over effect in neighbouring countries like Chad, and Cameroon. As reported by the United State Office for the Coordination of Humanitarian Affairs (UNOCHA), the number of people in need of urgent assistance in north-east Nigeria rose from 7.9 million at the beginning of 2020 to 10.6 million since the onset of the COVID-19 pandemic.
According to Unicef, this conflict in north-eastern Nigeria has continued to devastate the lives of civilians, resulting in a humanitarian crisis affecting 7.7 million women, men and children who are all in acute need of help and protection. It reports that since the start of the conflict in 2009, more than 20,000 people have been killed, more than 4,000 people abducted and 1.7 million remain displaced, mostly in Borno State. According to UNHCR, there are over 2.7 million internally displaced persons in North-Eastern Nigeria, over 684,000 IDps in Cameroon, Chad and Niger, and 294000 refugees in the four countries.
Civilians are the major victims of the conflict, as many have been displaced. Thousands of women and girls have been abducted, and have been made to face different forms of violence. There has also been a rise in the number of underage terrorists , as many have been recruited by these armed groups to carry person-borne improvised explosive devices (PBIEDs).
According to UNOCHA, currently, 1.9 million people are still internally displaced, some living in dire conditions. Over 80 per cent of them are in Borno State – the epicentre of the crisis, as four out of five internally displaced people are women and children, and one in four are under the age of five. Also, it reports that an estimated number of up to 1.2 million people remain inaccessible to humanitarian actors, 81 per cent of whom are in Borno State.
The Farmer-Herder clashes are still occuring in the background, thus threatening food security and peaceful co-existence in the country. These clashes have been more devastating in the Middle Belt, in such states as Kogi, Benue, Nasarawa, and Plateau. As a result, there have been calls to label the Herders/Nomads (Fulani Herdsmen) as terrorists, as the violence has spread to other regions in the East and South. From 2011-2019, the violence claimed an estimated 8,000 lives, based on a 2019 joint assessment by the United Nations High Commission for Refugees, Migrants, and Internally Displaced Persons. The report also indicated that a total of 210,354 persons have been displaced from 171 towns across the northwestern region.
There are also seasonal communal clashes, and regional conflicts in Kaduna and Jos. Most of these conflicts are ethnic conflicts , while others are religious based among Christians and Muslims. In modern times, the Kaduna South Crisis, and Jos Crisis have been a recurring incident, and have continued to ravage families. Many have had to seek shelter in neighbouring states, as so many lives have been taken.
Banditry violence has also been on the increase in Nigeria, as it has affected people living in such states as Zamfara, Kaduna, Niger, Sokoto, Kebbi, and Katsina States in the NorthWest. According to the Assessment Capacities Project (ACAPS), about 21 million of those living in these states have been exposed to insecurity from the activities of these bandits. These activities which include cattle rustling, kidnapping, and sexual violence, have affected about 35 of the 92 local government areas in the four states. As at March 2020, ACAPS reported that about 210,000 persons have been internally displaced, and over 35000 have sought refuge in neighbouring countries such as Niger.
The government has continued to rally round for support from International agencies in the fight against terrorism, as it tries to manage the Boko Haram Terrorists in the North East, the rising Banditry violence in the North East, as well as the Herdsmen-Farmer Clashes in the North Central, South West , and South East. It has also tried to curb Youth restiveness/Niger Delta Militants attacks in the South South, as well as the rising secessionist movements in the South East. Not only this, with the fight against corruption by public officials, the government has been blamed for non-accountability of recovered funds, and showing bias in the appropriation of funds , fight against corruption , and appointment of public officials.
The Paradox of Bank Earnings in Nigeria [Video]
The Paradox of Bank Earnings in Nigeria states that the market performance of the banking sector is uncorrelated with improving revenue and profitability. Using GTBank as an example, the bank has seen erosion of market cap in a period where it has delivered sustained improvements on revenue and profitability. What do Nigerian investors want? And what is the reason behind this market dislocation? I this video, I posit some reasons.
Potential areas:
- Economic Growth
- Extraction of fees
- Confidence in markets
- Relative Performance
- Fintechs & Telcos
- Inefficiency in markets
Lumber is Beating Tech – 70% YTD
We have one sector that is BEATING tech: lumber. It is ahead by 70% year to date (YTD). Yes, as families look for larger homes since homes are now extended offices, there is an emerging boom on the use of lumber. While I do not know how that is playing out in Lagos, one thing is evident: Work from Home (WFH) policy is not a bonanza from your company, it is evolving as a strategic business call which will help companies improve the efficiency of the utilization of factors of production. Imagine the “miracle” when rent payments disappear in financial statements!
Sure, I do think it is an illusion to expect some men to give up the fun of letting you know they are in charge, physically! The virus will pass, the clock-in will begin: Zoom makes everyone appear equal, not sure some men are paid to accept that! Yes, you must be reminded that this part of the canteen is for “senior staff” because hunger attacks them differently in Nigeria.
But right now, lumber is running the numbers.
As economies struggle to recover in the pandemic and U.S.-China tensions flare, investors piling into precious metals may be overlooking another potential haven: wood.
Lumber futures have doubled since early April and are level pegging with silver as the top-performing major commodity this year. Surprisingly, wood is even outshining gold — the go-to haven investment.
While lockdowns and stay-in-place restrictions were expected to curb demand for building materials, North Americans stuck inside decided to spend money and renovate their homes just as aggressive production cuts tightened supplies.