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A Business Model For OPay

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OBus from Opera's OPay is expected to be launched in some Nigerian cities next month

Car sharing and Ride sharing models have been hailed as the bridges towards transiting to autonomous mobility. These models minimise capital expenditures and increases the efficiency of transportation assets.

Recently, OPay recently launched a new vertical, OCar, to compete against the likes of Uber and Bolt, which makes the field even more crowded. ‘With its go anywhere from 200 naira’, OCar is definitely incentivizing consumers to come onto its platform.

Even though this vertical (ride sharing model) represents a good move, I am of the opinion that OCar could equally benefit from a car sharing business model. The car sharing model, in this context, means if Mr A owns a car and he is commuting to Ikeja from VI (both in Lagos, Nigeria), he is able to share his car with other passengers commuting from Ikeja to VI.

This would provide a market opportunity for private car owners interested in sharing their cars during their journeys. By private owners, I mean private car owners who are not Uber or Bolt drivers, simply private car owners who use their cars for private use but are interested in sharing their cars when commuting.

To achieve this, OCar would need to provide a platform for these private car owners (in Lagos and elsewhere) who may be willing to share their cars with passengers commuting in the same direction of travel. It is already a common occurrence to find private car owners in Lagos offering to pick passengers travelling in the same direction of travel. Such a platform would encourage more private car owners to consider sharing their cars as well as enjoy profits from such car sharing arrangements. This represents a new market opportunity which could help differentiate OCar from Bolt or Uber.

Is this market segment small or big? I do not know. OCar would have to conduct its market research to determine if this market segment is of significant size to justify any reasonable investment. I do know there is an opportunity here, which could easily grow with time.

With its ORide and OTrike platforms, Opay currently manages various motorcycles and tricycles within various cities. It is very common to find various OPay and OTrike drivers sitting idle during less congested times of the day. OPay could equally benefit from expanding its services to allow these drivers become engaged in the delivery of food (take-aways), items (e-commerce), dispatch and other delivery needs etc. I am aware that Opay already collaborates with small restaurants and allow consumers to order food. This service could further be expanded to the ecommerce industry, beyond the food industry.

Another expansion that may interest Opay may involve the provision of bicycle sharing arrangements (OBike) within universities or small private communities. This may be particularly attractive to universities looking to reduce their greenhouse gases, as a way of addressing climate change. This would no doubt involve the construction of dedicated cycle lanes as well as close collaboration with universities.

With Opay’s rapid expansion across various verticals, it may not be long before we see an OTruck platform which may disrupt the truck industry.

For now, OCar looks ready to take on Uber and bolt. The race is definitely on and we are watching closely to see who emerges the winner.

Konga’s Sim Shagaya Raises $3.1M for New Startup uLesson To Fix WAEC Exams

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He is a pioneer and one of his generation’s finest in our nation. He made many people to believe, and created a path for others to believe. His simplicity is legendary and his optimism about Nigeria was unbounded. He is Sim Shagaya, the founder of Konga. Everyone knew that the day he left Konga that something new would happen: no one can cage a tiger, for long. Today, we are learning that Sim has raised $3.1 million including his own money to help West African kids do better in WAEC. But this time, the magic will come via smartphone classes, not necessarily in what happens in the blackboards.

When Sim goes to WAEC, expect As. I personally congratulate him for the tenacity and rising out of the miry clay of Konga. That is how legends are built.

Press release below.

Nigerian edtech learning platform uLesson has closed a $3.1mn seed-level round led by TLcom Capital with participation by Sim Shagaya – the founder, to address infrastructure and learning gaps in Africa’s education sector. Targeting secondary school learners across the West African region, uLesson will launch officially in February 2020, having been in development and beta testing for 12 months. The seed round announced today allows the team to take the product to market in West Africa, before looking to develop educational content and a product for the East African market.

Founded by serial entrepreneur and founder of Nigeria’s Konga, Sim Shagaya, uLesson has built the technology to deploy curriculum-relevant content via smartphones, that allows learners to use the product without concern for internet limitations and costs. uLesson’s mobile offering rests on three pillars: academics, media & technology and curriculum content is delivered via streaming and SD cards. To-date, the Jos-based team has produced over 3,000 richly animated, personalised video learning modules, quizzes and tests that will be available on the uLesson android app, via a subscription model, in Q1 2020.

Low-income families in Africa can spend as much as 40% of household income on expensive schooling and supplemental education, yet the school system across the continent is recording poor academic outcomes. uLesson has been built to address these issues, by leveraging mobile technology to scale access to education and learning, at less than 10% of the cost of a traditional tutor.

The platform allows learners to experience personalised learning, practice tests, region-specific mock tests and assessed performance and progress for students and parents, including rich reporting dashboards for detailed analysis. Tailored towards the WAEC curriculum region (Nigeria, Ghana, Sierra Leone, Liberia and Gambia), uLesson’s current content focuses on core subjects of Maths, Physics, Chemistry and Biology for secondary school students.

Speaking on the investment and upcoming launch of uLesson, CEO Sim Shagaya says, “Education systems across Africa are in crisis and uLesson has been developed to radically shake-up the system and bring better access to high-quality curriculum-relevant educational content to learners across the continent. As our population grows extremely rapidly, the current public and private approach to education investment is chasing a goal that is moving further away. We want to lower the entry point for access to education for young Africans, and technology is the only way this challenge will be met. With this in mind, today is not just an investment in uLesson – it’s an investment in Africa’s future.”

As part of the seed round, Ido Sum and Omobola Johnson, partners in TLcom’s executive team, will join the board alongside former Konga CEO, Shola Adekoya. Speaking on the investment, Ido Sum adds, “In uLesson, we found a company that fitted perfectly with our ethos – an entrepreneur-led startup building affordable, mass-market mobile first solution tackling one of Africa’s largest challenges. In Sim, we have an entrepreneur with an unrivalled track record in building technology products for Africa. His team is building solutions for a massive opportunity, and we strongly believe they are about to make a serious dent in the education market across the continent.”

The global edtech market is projected to reach $341bn and Africa will be a key market fuelling this growth, due to rising smartphone adoption on the continent combined with a high youth population [40% of Africans are under the age of 15]. At present, student to teacher ratios in some parts of Nigeria are 1:70, compared to an average 1:10 in the United States. The dearth of quality teachers, tutors and educational infrastructure on the continent, according to Shagaya, represents a ticking “youth bomb” for the region’s unprecedented demographic growth.

Shagaya concludes, “We work collaboratively, passionately & relentlessly, utilizing every tool available, to deliver high quality affordable education to all Africans. Education, Financial Inclusion & Health need to be tackled on the continent. Remarkable progress in developing financial products has been made. Of the other two, Education represents an immediate opportunity that can be addressed with the tools provided by digital technology (smartphones, wireless internet, data storage and analytics). uLesson believes it has a model that can work in substantially addressing these challenges.”

He Gave Up, Even Before He Began. INEC Nigeria Needs To Improve.

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The biggest progress will come in Nigeria when we can have an efficient electoral umpire. While I am party-neutral but not apolitical, the consequences of total paralysis in the just concluded Bayelsa and Kogi elections are evident, and make it clear that Nigeria cannot attract new generation of leaders to fix this nation. Two people I know who plan to run for the upcoming governorship election in Anambra have killed the ideas, post Kogi and Bayelsa. One is a tested leader and someone with the heart of his people and community. But looking at the system, he gave up, even before he began. His words: “INEC does not give me confidence, and because I will never invite thugs to maim people I want to serve, I see no path. Because no one has arrested those men on the videos, no clear message has been sent that law was broken. I will remain in the boardrooms to serve this nation”.

 

LinkedIn Comment on Feed

They want the best brains and untainted minds to join politics, what we haven’t been told is whether they would win from graveyards or treatment homes; because what we call elections here are pure and undiluted madness, with no holds barred.

Politicians have invested heavily on thuggery, to the extent that divesting is no longer attractive, so each election cycle brings greater brutality.

You cannot commit super fraud and simply tell people to go to courts, if they are aggrieved, that’s clear invitation to anarchy and instability in the land. Courts can’t resolve the anger and toxic atmosphere we have created with fraudulent elections, and we know it!

We had decent elections from 2010 to 2015, there were issues, but the votes seemed to have counted considerably. This madness has gone haywire – starting from the staggered elections before 2019 general elections, and from 2019 it has been downward spiral all the way.

INEC’s failure is epic, while the ruling class has essentially destroyed the little progress made in our electoral systems, now we are back to the trenches.

Legacies don’t matter here, thuggery has been elevated and glorified.

 

A Letter To A Waiting Graduate

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We live in a society where a fresh Graduate from a Nigerian university finds it hard to own a decent job even after two years of rigorous search. As a result, such academically equipped individual begins to deteriorate over time, especially in his/her mental engagements.

However, it is important to note that WE can stay RELEVANT till we own our dream job with that perfect employer. We can bridge the long gap between unemployment, age, mental meltdown and emotional stress.

One of the most significant features of mankind is TIME. It has proven to be of great essence to all humans, hence, we all have a chance even as time evolves gradually. We all have our own seasons. Therefore, we can utilize TIME, being our greatest weakness and strength to BUILD and STAY RELEVANT.

HOW?

  • Build global skills by following the global trends; for instance, Sustainability Development Goals. You can align your career path or vision to the world recognized Sustainability Development Goals.
  • Learn soft skills like critical thinking skills, communication skills, public speaking and leadership.
  • Work your hands around a vocational skill. Yes young graduates, do something with your hands.
  • Volunteer and attend global conferences while you wait. Make volunteering the core of your being. Remember, the best way to develop your mind is to serve others in your basic skills.
  • Access global opportunities to broaden your academic prowess like www.opportunitydesk.com and www.opportunitiesforafricans.com.
  • Work on your social media platforms, especially professional and media platforms like Twitter and Linkedln connections. Your outlook as an individual is very important, therefore, develop meaningful content on your career goals.
  • Make learning a priority. Graduates, learn, learn and learn. The act of learning cannot be overemphasized. You can learn from various platforms like Coursera, Udemy, Google Online Courses and other places.
  • Finally, see yourself as an employer or an employed staff every day. Be accountable for every minute of your time and never think of yourself as unemployable. Every day you wake up, use your 9am to 5pm to learn something new. While others are earning; you’re learning. Employers want to ensure you are not a liability to their firm.

So, cheer up! Your condition isn’t going to last forever if you can own your life and stay responsible.

I look forward to seeing you at global platforms.

Interest, Tide of the Wind and Dedication

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I giggle a lot and almost could see through anyone’s depth of interest at a glance by asking two simple questions.

  1. How long have you been interested?
  2. Since you are interested in this for this long period of time, what have you done regarding your interest?

By anyone’s answer to this question, I could almost tell whether such person’s interest is motivated by the tide of the wind or by dedication to leapfrog the tides.

Interests are fluid and multidimensional often flowing with the tide of the wind. It is never stable for a living and active being, it can even grow uncontrollably. I was there or say I am still there, that’s why I know.

Interest grows, but interest never gets anyone anywhere, obsession does. Now I agree things start out as interest but those things must grow to become an obsession for them to see the light of the day and possibly leapfrog. It took me time to be able to bring this to perspective. This tweet’s question and answer reveals that…

How do you discover what you need to be focus on? Being one that has a varying interest.
@KapilGuptaMD

Replying to

@real_DavidALADE
There are interests And there are obsessions.

That was me on June 19, 2019, asking the respected and insightful man question about the multidimensional nature of interest and his answer changed everything.

Yes, there are interests and there are obsessions, the mistake a lot of us make is to think of both as one. However, it does not actually take long before it gets revealed that this thing is only a thing of interest to this fellow and not an obsession. For me, the two questions I mentioned earlier quickly help me to pinpoint the difference per time either for myself or for someone else.

Many interests flow with the tide of the wind. I have been there and maybe I am still there. I wish I still have my LinkedIn profile image of about 2 years ago. My profile would have been evidence to show that this guy flows with the wind. I had things like Fintech enthusiasts, Big Data enthusiasts, tech evangelist, tri-sector intelligentsia and so on my profile.

Now those things aren’t bad at all, in fact, it was my version of not seeking permission but following after forgiveness constantly. However, unsustainable.

And if I was to advise anyone, I would still say it’s fine to go through that process. Don’t seek permission always remember.

What usually makes the difference is not stopping at that point of interest. Today those things are ripped off my profile.

How do people move from interest more often than not motivated by the tide of the wind to the realm of obsession? 

By dedication, people achieve this.

Till tomorrow, your interest will keep growing just like mine is constantly growing albeit with the tide of the wind. However, we get to work on (dedication) just a minute percentage of our interests (I may peg it at <5%).

Those interests that we dedicate our time to pursue end up either being an obsession or we realize oh, this can’t grow beyond this and we drop it. In technology development cycle we call it the peak of inflated expectations.”

Only those interests that survive the peak of inflated expectations gets to become an obsession and they are usually very few.

I started by saying I giggle when I get asked some questions. That’s because I could tell that these things someone is asking me of are still in the realm of interest and no matter what I say, it might not be enough to move them to the realm of obsession. It is your sole responsibility to move yourself to the realm of obsession, interest is too multidimensional to invite anyone to navigate it for you. Move beyond interest.

When I see folks in the realm of obsession, something I rarely do, by the way, I can go all out to see them building upon their obsession. They are people worth 100% of my time.

Few of them I’ve met, I pay for online courses for them to learn, some I share my login details with to learn, some I go the extra length of being their accountability partner and some I benefit in different measure.

Yes, it is usually a worthy investment, some did it for me. They are ripping it now and will do later.

Why have I written this?

  1. To help you understand yourself and forces that are shaping you. 
  2. To help you understand the interplay between interest and obsession. 
  3. To help you understand that not all interest will turn into an obsession and only those who turn to obsession actually leapfrog you. 
  4. To also help you understand that it is all normal to have a varying interest.

Above all to help you to move quickly from the realm of interest to the realm of obsession through dedication.

And lastly, to point out that not all interests will make it past the bridge of dedication. And that is 100% alright.

However, you need to be dedicated ASAP in order to root out those interests that are only occupying space in your mind but will never see the light of the day.

I have mastered the art of navigating the realm of interest and obsession for myself and have a mental playbook for this. Hopefully, I will be committed enough to share one day. For today, that’s all.

Invest in people’s obsession and you had reaped your investment one way or another.

Invest in people’s interest and you are almost guaranteed to lose your investment.

When you are making a choice between both, go for obsession.