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Trump Issues Executive Order Banning the US from Transactions With TikTok and WeChat in 45 Days.

By
Samuel Nwite
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0

President Trump on Thursday issued executive orders to ban TikTok and Wechat from operating in the US in 45 days if they are not sold by their Chinese parent companies.

Trump had on Monday changed his mind to ban the apps following a meeting with Microsoft’s CEO Satya Nadella and the persuasion of members of the Republican Party. Trump thus set September 15 deadline for the acquisition of TikTok from ByteDance, but his new order means the app would be banned if the deal fails.

Negotiation between Microsoft and ByteDance is still ongoing in a deal that Microsoft is expected to pay between $10 billion to $30 billion. Trump said the latest order is masterminded by his finding that “additional steps must be taken to deal with the national emergency with respect to the information and communications technology and services.”

The United States government’s concern had been centered on TikTok, until recently when attention was extended to WeChat.

Trump said the decision to include WeChat is because like TikTok, it captures vast swaths of information from its users which the Chinese Communist Party has access to.

He said for example, in March 29, “a researcher reportedly discovered a Chinese database containing billions of WeChat messages sent from users in not only China but also the United States, Taiwan, South Korea, and Australia.” And the app also censors content that the Chinese Communist Party deems politically sensitive.

WeChat, owned by Tencent offers financial transaction services to users and it is used by millions of people around the world, including the United States. The executive order aims at prohibiting such transactions in the US.

“The following actions shall be prohibited beginning 45 days after the date of this order, to the extent permitted under applicable law: any transaction that is related to WeChat by any person, or with respect to any property, subject to the jurisdiction of the United States, with Tencent Holdings Ltd,” the order said.

“45 days after the date of this order, the Secretary shall identify the transactions subject to subsection (a) of this section,” it added.

Trump justified the order citing threat to national security and made reference to India’s TikTok ban, quoting the country’s Ministry of Electronics and Information Technology which said that TikTok was “stealing and surreptitiously transmitting users’ data in an unauthorized manner to servers which have locations outside India.”

The United States government had on the same language of ‘national security threat’ banned the military and federal agencies from using TikTok, a trajectory the Joe Biden campaign has followed.

While TikTok appears to have a lifeline, WeChat doesn’t. Unlike TikTok that has been around the pressure for a while, thus making preparation for a possible acquisition, WeChat didn’t see it coming. Though there has been a lot of talk from the US policymakers about Chinese apps, the discussion has so much centered on TikTok.

The executive order may help Microsoft to negotiate a cheaper acquisition of TikTok, as the companies are hurrying to beat the deadline.

Trump is concerned that TikTok could be used to manipulate November presidential elections. The app was used in June to prank organizers of his Tulsa rally, where a group of youngsters made seat reservations but did not turn up, leaving the auditorium half empty and embarrassing him.

It is not clear what scope the ban will take as Trump said that part of the acquisition proceeds will go into the US treasury. However, analysts believe that the US’ move to ban the Chinese apps may usher in a new wave of conflict between the two economic powers.

“The executive orders represent a major escalation on the US side of the confrontation with China over the use of technology and mark the first time the US government has attempted to ban a software application running on millions of mobile phones within the US,” said analysts at political risk consultancy Eurasia Group.

The group noted that the implication of the ban may force Beijing to retaliate.

“The US actions against TikTok and WeChat could be a turning point in Beijing’s calculus around how to respond to the US policy actions that have now either impacted or threatened to impact all of China’s national tech champions,” the group said.

China has decried the move, saying that the US is unjustifiably attacking Chinese companies to “maintain monopoly” over them, and urged Trump to rescind his decision because “it goes against market principles and international trade rules.” It is not clear what measures China’s retaliation will take.

What Konga, Jumia, Jiji and other African E-commerce brands can learn from Shoprite Exit

By
Rasheed Adebiyi
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0

A study has warned ecommerce platforms to pay more attention to the pain points of their customers so as not to lose them at critical times. The report titled “Exploring Key Issues Affecting African Mobile eCommerce Applications Using Sentiment and Thematic Analysis” and published in the IEEE Open Access Journal focused on the views of customers on the ecommerce platforms in selected African countries. 

Specifically, the multi-country study focused on Jiji Nigeria, Jumia, Jiji Kenya, Konga, Takealot, Kilimall and Jiji Uganda with an attempt to understand both the positive and negative sentiments that those who patronize them have for or against them. The study identified three pain points around business, legal and technological frameworks within which the ecommerce platforms operate. Analysis also indicated the preference points for the customers. An earlier report has identified price value and trust as significant influences on intention to purchase online.

On the customer’s positive perception, the report identified the ease of use, fast delivery, affordable products, convenience, cash on delivery and good aesthetics of the platforms and their products. Customers also enjoyed the discounts, fast delivery, user-friendliness of the applications and the speed with which some of these applications allow them to sell.

The report equally noted the pain points of the consumers of the ecommerce platforms to include delivery mistakes, issues on tracking their purchased items, poor product tracking culture, insufficient product information, poor customer service, unfriendly return policy and  Application crashes. Other negative issues include poor search algorithm, high shopping list, sudden cancellation of order without notice, poor quality of items bought, payment issues, non functioning product filter and too many notifications. The report made recommendations on how the platforms could address some of the major customer complaints in the study.

It would be recalled that Shoprite, a South African Mall Franchise, has been trending online for the wrong reasons. The company has been battling a complicated rumour surrounding its continued operations in Nigeria. Analysis has indicated that major sentiments do not favour the company staying in Nigeria despite more than a decade of operating in the country. Observations of comments and online disposition of Nigerians who are actually rooting for the exit of the shopping mall giant might not be divorced from pre-crisis unaddressed complaints they have about the company.

Analysts have queried the continuous negative reviews and lack of sympathy from Nigerians whose patronage Shoprite has enjoyed for 15 years. This may be due to poor public relations and inability to conduct consumer research that would have likely yielded some of the issues arising now.

How to produce a Business Plan from a Business Model

By
Progress Ibrahim
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0

You will love how he tested my capabilities. The first time I met him was shortly after i wrote the book “3S Rules: How to Build a Billion Dollar Business Model”. I was to meet him to become my mentor, in a new city I was relocating to.

Fortunately, I met him on that fateful day, the first question he asked me was; what can you do? I told him that I’m an entrepreneur, a business model expert (business analyst), alongside a copywriter.

He looked at me and smiled. He proceeded by saying Progress, here is an idea I’m working on. This is your assignment; develop a business model and produce a business plan from it. I want it ready in a week’s time.

Truly, I went to work in order to prove my capability. You know you have to prove your worth to new people. I was able to deliver before the deadline. The work was good, and he has believed in me, since then.

So, I will be showing you in this analysis how to produce or draw a business plan from a business model. But before then, what do we mean by a business plan?

Investopedia defines a business plan as a document that shows how a business will achieve its goals. This goal has three components to note in order to write a winning business plan.

The components of the goals as highlighted in an article on Harvard Business Review are; the market goals, the investors’ goals and the entrepreneurs’ goals.

We shall see how we can successfully produce a business plan from a business model with the above goals in mind.

How to produce a Business Plan from a Business Model

In order to do this successfully, we shall break a business plan into four components and link them to some segments of the business model. Well, at this time I assume you have an idea and a business model.

 If you don’t have yet use this strategic  business model template to come up with one.

  • How Does Your Business Work?

This is usually the first thing I love to address when preparing a business plan that will be convincing to investors and to me. It is your business model that shows how your business works to unlock value. 

So, visit the friction (problem) section, value proposition section and product section of your business model to write this aspect. This aspect shows the investors, partners and team how your business solves the market friction or how you model to solve the market frictions.

  • The Market Plan:

The market plan is one of the important considerations of a business plan. It shows the commercialization aspect of your invention or product. You need to have a market plan that shows elements such as; an analysis of the market data of your market, the pricing, the marketing strategies, retention strategies etc.

Your business model already has the customer section or the market segment section, it will make it easy for you to research more about them, without thinking much about who is your target.

You must know your customer properly and the segments they are. For example, 1,000,000 smallholders farmers may be the market size but may not be your market target. 

It may be 100,000 of those smallholder farmers that have smartphones and farmland of not less than 10 hectares each.

  • Competitive Advantage and Scalable Advantage:

The competitive advantage of a firm or a product is what gives it advantage over the existing players. This is very crucial as your competitive advantage to an extent determines your scalable advantage. 

It is simply what makes you different from another? You can employ SWOT analysis and the Porter Five Forces analysis to explain how you differ from others.

Scalable advantage is how your competitive advantage will help your business to grow at a low marginal cost of  serving a new customer.

  • Financial Forecast or Financial Projection:

This is determined from your revenue models of the business model. How will your business make money? 

In a profit-driven business , it exists to make money by creating value. So, you should be able to determine the unit economics of the product and use that to project on a large scale.

You can project revenue for five years and make plans to get there.

Don’t forget that your financial forecast includes; revenue analysis, cost analysis and profit analysis . In an established business, you will have to show the cash flow, Profit and Loss account and the Sales Forecast of the business.

It is very important for a start-up to analyse the financials based on revenue, cost and profitability metrics.

With this approach, it will be  easy for you to draw your business plan from the business model. This will help you to secure the needed funds you need and win the support of others.

I will analyse in my next article how to produce a Pitch Deck from a business model. Watch out.

“I have tried a series of programs but this is just the best” on Tekedia Mini-MBA

By
Ndubuisi Ekekwe
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0

“This is Hajia Fatima Ahmed of work and connect, just want to say a big thank you to Tekedia Institute for this wonderful package. I have tried a series of programs but this is just the best, from the written materials to the videos, to the webinars, to the slack and the whatsapp; simply the best. Looking forward to more of your programs.”

– Hajia Fatima Ahmed

We’re thankful for the kind words. From a sample survey, we received 4.7 of 5 from our co-learners and members. We will keep improving. Source: https://www.tekedia.com/2week6/

Selected Testimonials from Tekedia Mini-MBA Participants

Nigeria Strikes The Perceived Choiceless MultiChoice (DStv, GOTv)

By
Ndubuisi Ekekwe
-
110

PayTV players like DSTV and GOtv are now banned from having exclusive sporting content in Nigeria. Upon paying pounds, euro and dollars, the companies are required to share content with local players like NTA. More so, if they pay for La Liga Spanish football league, they are required to spend at least 30% of the amount on the Nigerian league.

People, Nigeria is now run like an activist organization. I am not a fan of DStv, GOTv or whatever, but we must be bold to tell our government that it is not helping power, education, logistics, banking, retail, etc sectors on foreign investments when they make policies designed to cripple one company. There is no inherent fairness in this code. It has been structured to destroy DStv. 

PayTV is a luxury product in Nigeria. Our government should invest efforts to fight for clean water, electricity, etc and not waste our trust banks on Zee World, Messi and Ronaldo.

This is this business as I have noted in the past. I expect DStv to begin disengagement from Nigeria as there is simply no protocol for it to remain. As it returns back to South Africa, exiting Shoprite may be a flight mate. And as that happens, NTA will call Europe to wire Naira and Kobo to watch Messi and Ronaldo on its own terms.

Once NTA makes it tender to Europeans, it will notice one thing: the cost of this product has been rising: “The cost of English Premier League broadcast rights has risen almost 8% to 9.2 billion pounds ($12 billion) for the next three seasons”. If you make it a direct correlation, it simply means that DStv should be increasing costs by 8% over the next few years. But in Nigeria, even though naira is losing value to the euro or pounds sterling, DStv is expected to freeze its rates. That does not make sense!

Technically, unless MutiChoice has changed its business charter to non-profit, it has no business in Nigeria. When you add the new muted plan to force it to license its expensive London luxury product to local players, at Umuahia rate, you will understand the outcome. Yes, MultiChoice will abandon Nigeria and will not renew its EPL rights unless Nigeria allows it to increase rates, to compensate for increasing cost of the raw material and naira deterioration.

Hello Kano Pillars & Enyimba! Yes, local sports teams are still there.

The statistic depicts the revenue from the Premier League television broadcasting rights from 1992 to 2019. From 2013 to 2016 the Premier League generated over 3 billion pounds in revenue from its marketing of TV broadcasting rights per year. (source: statista)

LinkedIn Comment on Feed

No one is saying you do not need to protect Nigeria. But our model of changing the rules during the game needs to stop. When govt sold electricity properties with a good rate, many came and invested. After they shipped their monies into Lagos, we changed the rates. Now, power is not working for years because no one trusts Nigeria to invest. China is consistent on this. Brazil is consistent on this.

Our problem is that Nigeria is not consistent and that is the problem. If you want to fight, as a dev. nation, who watches football is not a good place to waste our reputation as a nation. This is a luxury product and should be left to those who can afford. We have more urgent needs in Nigeria we need help.

Abiola. SB. I do not write to please anyone. This is my personal opinion. To be reading me, you have to deal with it. It is irrelevant what Ghanaians think of their govt.

Good points. You do not develop your products. Someone buys a working product for $100. And you make a law for him to sell it at below market price. Yet, people are hailing government because we are Nigerians. As I noted in the piece, price increase of DStv has tracked or even lagged EPL tv rights increment. This means, the cost of raw materials has increased because this is an imported product, and customers need to pay more. NTA wants to pay $10 for a $100 product.

Understand that this product is auctioned which means anyone can challenge DSTV parent and win the rights. But NO, you wait for it to bring it home and then you use laws to cripple it.

 

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