This is a very fascinating vision – a company that makes it possible for Nigerian customers to buy goods from Ugandan merchants and pay over time. The firm, Xente, explores Nigeria, out of its Ugandan root, just as Nigerian startups like to link into United States and United Kingdom.

Largely, if Nigeria gets itself ready, it can become the American to many Africa-nations entrepreneurs and startups. They see the big market and they are ready to roll in Nigeria. It is simply fascinating that someone will structure a deal to make it easier for Nigerians to buy from Ugandan businesspeople; give credits to these young entrepreneurs!

Ugandan startup Xente, which allows customers from all over the world to buy products from Ugandan merchants and pay in instalments with cards or mobile money, has expanded to Nigeria.

Mobile payments and shopping app Xente enables consumers and African businesses to transact efficiently and safely on any mobile channel without the need to use cash.

The startup has now made Nigeria its first market outside of Uganda, allowing users there to, among other things, purchase airtime from all major networks, pay for utilities such as electricity, water and pay-TV services, and pay for physical products at partner stores using their Xente wallet.

“We are proud to have a second home, nothing makes us more happy than to sit in Africa’s fastest growing economy. We are more than happy to provide every Nigerian citizen with a secure, convenient and stress-free online buying experience,” said Xente chief executive officer (CEO) Allan Rwakatungu.

Xente is Africa’s Alipay. Using Xente, customers in Uganda and, Nigeria can make payments in country and cross border for 100 + use cases using mobile money, bank cards, as well as on credit.

By Nnamdi Odumody

Science education in many African and developing countries relies more on the theoretical aspect of imparting knowledge, aimed at cramming, rather than the practical one which builds problem solving, and critical thinking skills. This results to poor overall classroom performance, poor skills development, low job and career prospects, and weak economic development.

Fundi Bots, founded by a young Ugandan, Solomon King Benge, is on a mission to use robotics training in schools to create and inspire a new generation of problem solvers, innovators and change makers. Its hands on approach bridges the technology divide, between the classroom and the real world, providing training that is in line with recent developments, across the globe, to students, inside and outside formal academic institutions.

We provide hands-on, practical Science, Technology, Engineering and Maths (STEM)) education to children and youth in classrooms, communities and universities.

Our students learn how to build robots, which radically improves school curriculum knowledge, classroom performance, provides hands-on vocational skills and career development and empowers students to be forces of change in their communities.

The Fundi Bots learning model is practical, fun, engaging and puts students in a collaborative and exploratory learning environment that inspires them to think beyond simply passing classroom examinations.

Fundi Bots wants students and non-enrolled youths to learn practical skills and resources from day one and pass through an education, and career path, that teaches them to be excellent students in the classroom, innovative problem solvers in the real world, experienced and knowledgeable employees and exceptional technology entrepreneurs.

Its school outreach focuses on providing awareness, knowledge and access to training and resources at the school level, and includes hands on robotics training workshops, speaker presentation, science project assistance and guidance, career and skills development, and mentorship.

Fundi Bots Integrated is a version of its enriched science curriculum that’s deeply integrated within the official government or school curriculum. It addresses the same topics and subjects that the school is following, but adds more layers of practical lessons, projects and deeper immersion within the sciences. The Fundibots After School Program is a special science club for students who want to go the extra mile in learning science beyond their classrooms and for parents who want their children to explore practical science education, beyond the standard curriculum.

Fundi Bots programmes have impacted 4,500 students across 75 schools, and it has 2 regional centers in Uganda.

Kudos to Solomon King Benge and his team for preparing the young ones with STEM skills which will help transform their nation in the Fourth Industrial Revolution.

Technologies for industry 4.0 (source: researchgate)

Creating Jobs for Nigerian Youth in the Fourth Industrial Revolution

One recent study from 2017 revealed that 34 percent of entrepreneurs have no retirement savings at all. While the reasons for this varied among participants, one thing was made clear: a large number of entrepreneurs are not taking the idea of saving for later in life seriously. Even though some self-employed individuals plan to one day retire, many CEOs and entrepreneurs are hard working, driven individuals who do not have a concrete plan to stop working. No matter whether you fall into the former or the latter group, it is crucial for all entrepreneurs to have some kind of savings for later in life.

Retirement does not mean the end of working

Merriam-Webster defines retirement as the “withdrawal from one’s position or occupation or from active working life.” Although many who are traditionally employed look forward to this period in life, and plan for it vigorously, entrepreneurs usually have a different opinion of retirement. In addition to the financial risk involved in giving up one’s business, many individuals who have built a brand or company from scratch do not want to give up their involvement with it. However, even though the goal of most retirement funds is to help individuals to withdrawal from their work, it is important to know that this is not a requirement. Instead of selling or giving up control of your organization, your goal can simply be to scale back the number of hours worked.

Creating a retirement savings allows for added leisure

If you know that you won’t be able to stop working for your own individual reasons, a retirement fund can still serve an exciting purpose. Investing in a retirement fund can help you achieve more than simply working less. If you’ve had dreams of traveling or taking more leisure time in your schedule, saving up money in an IRA account or a solo 401K plan can make those goals a reality. Even if you end up saving much less than what is currently recommended for people who plan to fully retire (about 80 percent of your income yearly), you will have plenty of funds to take extended periods of time away from your work.

A retirement account can help you prepare for emergency expenses

As of last year (2018), experts reported that approximately 55 million Americans had no emergency savings. From home repairs, to unexpected business expenses, to sudden health challenges, emergency expenses can pop up anywhere at anytime. Even if you have a healthy savings account, it never hurts to have extra cash. This is especially true as one ages, when health expenses can add up quickly.

No matter whether you plan to fully retire or work for as long as possible, all entrepreneurs should have a retirement savings. As you age and your plans evolve, having extra funds for whatever life brings is one of the most financially savvy moves you can make.