‘‘We [Dangote Group] are not doing like other Africans who keep most of their money in the bank. We do not keep money in the bank. We fully invest whatever we have and we keep on investing. ’’ – Aliko Dangote To create companies with capacities to fix market frictions, many things are needed. We […]
1.1 – Fixing Business Frictions At Scale
“Every morning when I wake up, I make up my mind to solve as many problems, before retiring home.” – Aliko Dangote Since Adam Smith wrote his classic, in 1776, the Wealth of Nations, to upend the mercantilist system and set forward the basic foundations for modern classical economics, we have seen corporations come and go. The […]
About the Author – Ndubuisi Ekekwe, PhD
- Prof Ndubuisi Ekekwe
- Lead Faculty – Tekedia Mini-MBA
Prof Ekekwe invented and patented a robotic system which the United States Government acquired assignee rights. Dr Ekekwe holds two doctoral and four master’s degrees including a PhD in engineering from the Johns Hopkins University, USA. He earned undergraduate degree from FUT Owerri where he graduated as his class best student. While in Analog Devices Corp, he co-designed an accelerometer for the iPhone. A recipient of IGI Global “Book of the Year” award, a TED Fellow, IBM Global Entrepreneur and World Economic Forum Young Global Leader, Prof. Ekekwe has held professorships in Carnegie Mellon University and Babcock University, and served in the United States National Science Foundation Committee. The South African press called him “a doctor of innovation” for helping organizations on the mechanics of business innovation, strategy and growth. Since 2009, the Chairman of Fasmicro Group which controls many startups and entities has been writing in the Harvard Business Review. He is the Lead Faculty of Tekedia Mini-MBA.
Dr Ndubuisi Ekekwe speaks at the EU Commission (2017)
Prof Ndubuisi Ekekwe’s book received the prestigious IGI Global “Book of the Year” Award in 2010
Dedication
This book is dedicated to Tekedia Mini-MBA participants, and is written as an extended case study for them, on our learning journey. The goal is to use this book to demonstrate the power of vision, taking action and finding opportunities in markets. Aliko Dangote, the Founder of Dangote Group, an industrialized conglomerate, is one of the most important people in African business. His story is the type we hope to prepare our participants in our Mini-MBA program: business innovation, execution of playbook and unlocking leverageable growth across markets and business territories.
The Sovereignty Clause
The House of Representatives yesterday raised the alarm over clauses in Article 8(1) of the commercial loan agreement signed between Nigeria and Export-Import Bank of China, which allegedly concedes sovereignty of Nigeria to China in the $400 million loan for the Nigeria National Information and Communication Technology (ICT) Infrastructure Backbone Phase II Project, signed in 2018.
The controversial clause in the agreement signed by Federal Ministry of Finance (Borrower) on behalf of Nigeria and the Export-Import Bank of China (Lender) on September 5, 2018, provides that: “The Borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.”
Source: Thisday
Indeed.