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What African Investors and Entrepreneurs Can Learn from Marathons

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By Nnamdi Odumody

The recently held Access Bank Lagos City Marathon 2019, the fourth edition since it commenced in 2016 saw Sintayehu Legese, an Ethiopian emerge first finishing the race in 2hrs 17 mins, while Joshua Kiprotich a Kenyan came second in 2hrs 18 mins. For Legese his prize money for 1st position was $50,000 and Kiprotich, $40,000. They defeated over 50,000 participants from different countries including Nigeria the host.

The preparation for a marathon is different from that of a 100 metres, 200 metres race which are short distances. A marathon is a journey of endurance which is why usually those who run short distances and  some others who think that going to the gym to shed weight without getting used to jogging or running long distances find it difficult when embarking on the competition. Those who win don’t begin by sprinting like Usain Bolt when they haven’t gotten to half of their journey. They start on and gradually increase their pace till the finish line and after winning the preparation for the next competition begins immediately  to keep their body fit and ready ahead of time.

A couple of Nigerians enraged at the dominance of the Kenyan and Ethiopian athletes who are world champions and winners since the marathon started three years ago began running as if it were a 100 metre race for a distance of 42.5km and when they got to Third Mainland Bridge which is about 15km from the start point, many collapsed and couldn’t continue.

When Jeff Bezos began Amazon in 1995, he just wanted to create a wonderful customer experience for people to get books online. Twenty four years down the line it became a $1 trillion company selling virtually anything and offering more advanced products which helped it scale like it’s cloud computing services AWS which is the global market leader. Sergei Brin and Larry Page created Google as their Phd thesis to find a better way of providing search with algorithms better than what Yahoo the dominant leader then was doing.

Today more than fifteen years since their first version was released to the public over a billion users use Google’s Gmail, Youtube, Android Operating System, Google Cloud, Google Drive and so many much more products. It is important to note that the two companies aforementioned were not earning money immediately they launched or profits on revenues. For Amazon it took a long period before their profits started coming because e-commerce is a business which takes time to scale due to issues around logistics, trust from potential customers and supply chain. But those who invested in the brand saw and admired Bezos vision for the bigger picture he wanted them to see and kept faith.

In Nigeria and Africa, infrastructure to help entrepreneurs scale is a major problem. This is the major reason for high mortality rate of startups on the continent, and due to the poverty prevalent, most entrepreneurs when they commence new ventures feel discouraged  when the money doesn’t start coming immediately as capital is scarce and investors here lack the patience like their counterparts in Silicon Valley and Beijing, the two top startup ecosystems in the world who can keep on funding startups for five years and wait for them to start earning revenue and be profitable. African entrepreneurs and investors can learn from marathons to endure the hard times and keep on supporting and developing the venture until it succeeds as both parties will celebrate the success when it arrives.

2018 Was Breakout Year For African Startups On Funding (See Plot)

Just Arrived The OPEN Lagos

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I just arrived Lagos – the most OPEN city in Nigeria. I was here ten days ago, and spent a day in Epe Resorts on a Board session. As we drove into Epe, I did not see many posters of politicians unlike what I saw in Ikeja, Ikoyi, VI and other major cities in Lagos State.

Certainly, it was not hard to understand why: modern day indirect rule used by political parties work well outside major cities in Nigeria. Simply, have a solid local political chieftain, and you are on your way to control most votes under his domain. The implication is that campaigns in most rural areas are not necessary intense once the gatekeepers have been secured. Indeed, the real campaign is politicking for those gatekeepers to align with the candidates and parties. And once executed, parties will expect them to instruct their “subjects” the people to vote. That might have been the reason while Epe did not have many posters as the lords have made the calls already!

But after the Board session, we drove back to the open Lagos. There, I saw many posters with politicians making their cases on why they would be the ones to deliver that future we all crave in Lagos and indeed Nigeria. Unlike Epe, politicians were making efforts to sell their visions directly to Lagosians because in Lagos individual liberty is high. That liberty is at the center of the entrepreneurial capitalism which everyone admires in this open city.

Lagos is Open. A young man comes here with CV and certificate, and leaves as a captain of commerce and industry. A young lady comes with nothing but commands one of the fastest growing fast food empires in Africa. Some that never entered school, came with nothing except ambition and optimism, and made it back to villages driving Mercedes Benz.

As I look at the horizon, I can see an unbounded and unconstrained energy from the lagoons. Bigger than the economy of Ghana, larger than the economy of Kenya, Lagos is the nation within Nigeria. It is called the Centre of Excellence; in all ways, it is where you find the best of Nigeria.

I am in Lagos – the very best of this nation for trade and commerce. Yet, I continue to wish that we can have more cities like Lagos in Nigeria. Yes, we need more Lagos, as by doing just that we will scale abundance and opportunity, taking more people to the mountaintop.

I am HOME.

Sanwo-Olu’s Adaptive Micro-Messaging for Governor of Lagos State

Young Nigerian Heroes

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By Samuel Odebode

There is this false notion, a great falsehood among Nigerians in the diaspora that they have the magic solution to issues in Nigeria, they compare their newfound near perfect system and cry out for more things to be done in Nigeria, they look at the roads, power supply, housing, basic infrastructure, beautiful environment and workplace condition, not to talk about the disparity in value of the ‘almighty’ dollar or pound they get from readily available hourly income to that of the ‘not too mighty’ naira. You are very wrong to make such comparison of these two system, race and environment.

I recently visited Nigeria after 5 years hard and adaptive sojourn in St John’s Canada with an average weather temperature of 8-degree Celsius. Going back home, I took the BA flight and landed in MMA Lagos after 28 hours fatigue laden flights including two stop-over at Toronto and London to inhale that long lost sweet hot air of my beloved fatherland, it was an ecstatic moment indeed, despite the deafening horn sounds and heavy high beam lights illuminating visually from all vehicles on Lagos roads, I wasn’t perturb because I am back home for good and to see my beloved families and friends especially my childhood cousins and neighbours who are now married with kids, and there wasn’t any better opportunity than the interment ceremony of my beloved late uncle Victor.

As I set out to travel 330km east of Lagos to my birthplace next day, my motherland in a better word, a place where I spent the first 21 years of my life, learnt my mother’s language Ora, got basic understanding of the Bini language, annual visit to EBS trade fairs for fun and dance, got numerous leadership roles in primary and secondary schools, volunteered with Nigeria Red Cross Society, admired few couple of girls, wrote numerous love letters, met some beautiful girls, got born again, preached the gospel at school, participated in crusades at various communities, trekked home through numerous bad and flooded roads, ate fish meal with some great Warri guys I met during my days at Auchi Polytechnic, always telling me ‘chop fish o-o-oh, chop fish o-o-oh’, poor me, I was trained to eat fish or beef at the end, not during meal.

Going to Benin City, I opted to travel by road rather than flying, so I could see some landmark on my way to motherland, Landmarks like the various church camp sites along Lagos-Ibadan express way, Sagamu town my favourite stop point during my Polytechnic Ibadan days, the stop-over town of Ore to eat some local delicacies, University town of Okada access road gate, to see the changed police force, custom and road safety officers at various check points, the new looking federal road to Benin, my university-UNIBEN beautiful new gate, and also to experience the new looking Toyota hiace bus use by God Is Good Motors, the well-dressed drivers, o-oh sorry my friend they are called Captains not drivers, Infact we were warned before departure not to make the mistake. As I took the 3 to 4 hours journey to Benin City, I saw what my people go through daily, I saw same old issues are still present, I saw the smile and laughter from these faces, despite the hardships, I saw the genius, sincerity and positive passion to survive and get food home at the end of the day. As I sat on the bus looking through the curtained window of my air-conditioned bus, I saw the complete absence of governance, unnecessary suffering on the streets, it was a sober moment with tears coming out of my eyes, I finally saw the real challenges these heroes pass through every day to make their life better, in a society that offers little or no help.

I know we might talk about the epileptic power supply, poor road network, lack of public supply water, high rate of unemployment, absent or blocked drainages, poor traffic and transportation system, poor medical facility, no affordable housing and insecurity as top predicament in Nigeria. But, that’s not true brothers and sisters, the number one drawback in Nigeria is the belief system, yes, our belief or faith system, these give birth to our psychological makeup, plays a great role to how we are intrinsically motivated, how our thought pattern are moulded. I have seen that collectively as a people our fight for a high standard of living is too weak, our drive, passion and action wheel are always thwarted by friction called divine help or favour. This is where the big gulf between thought patterns in countries where things work and where things don’t work.

In my 5 years sojourn in winter wasteland-Canada thus far, problems are looked at logically and experts are called upon to evaluate, analyze and proffer solutions…which is always subject to political and scientific debates, stakeholder consultations, feasibility study and impact on the environment, plant and animal species and then set-up of a project management department to management agreed upon solution from initiation to closing process, keeping such project within scope, budget and schedule and other blah-blah-blah-blah in PM.

In Nigeria, problems are often looked at spiritually, let’s talk about the gully erosion issue in Benin City, my hometown, every year, I repeat every year, houses and schools are flooded, numerous homes destroyed, people and property worth billions of naira are lost. Do you know what will follow after this catastrophic incident? All manner of prayers from the palace, churches and mosque comes flooring in, numerous displaced residents crying for help, then the government pay a visit and promise to help and compensate, repair the road, and clean the drainage. Did I say to repair the road yes, then immediately contractors are mobilized to site to start construction and government and well-meaning individuals pay compensation to affected people, what a magical wave, everybody is happy again, a caring governor, a listening governor, the people governor blah-blah-blah. Then the professional, yes, the people with ‘Engr.’ ‘Prof.’ ‘Dr.’ etc. has no comments, no comments mean all is well.

Guess what will happen the following year? Any devastating gully erosion again, this time more houses away from the previous location are affected, perhaps the new roads are still standing but the shallow drainages are covered again with dirt thanks to street trading, illegal waste dumping and erosion sand. The cycle starts all over again, prayers, governor visits, tears, compensation, construction, cleaning etc. This cyclic ‘act of God’ or what I call ‘act of visionless’ happens annually but our professional engineers have no comment, in fact, some just grew more pot-belly from membership’s dues and kickbacks from the last visit to politicians. Our professors, our learned ones are busy discussing getting more salary, more allowances if not strike here we go. Yet, my people are so happy, armed with shouting and inspiring scripture verses from the Holy Bible and Holy Quran to back up the current predicament, more tithe payment, seed offerings, Sadaqah, more hours of religious worship, more spiritual pictures to show I made it, I survived on social media. Then the favourite yearly rituals of 31st December crossing-over service for a fresh and better start coming again.

The people who looked at their problems logically and proffer technically sound solutions, with months of planning, debating the problems are busy drinking wines, alcohol and dancing in the various homes or clubs on the 31st December to celebrate their successes and achievements, my brothers and sisters in Nigeria are crying, praying, and sowing cash for a new miraculous, trouble-free and divine filled new year again. Some actually give up halfway into the new proposedly divine year and seek to travel out of our spiritual and godly country to another country where homosexuality is allowed, cannabis freely smoking, church attendance abysmally low, alcoholism number one top problem, drugs use a big issue but things are working, yes things are working to the extent humanly possible. I repeat again things are working and why? Because our worldly problems must be handled logically and backed by technically verifiable researches and findings.

In all this chaos, some home-based Nigerians are staying strong, innovative and changing their communities despite these challenges, I respect you because you are the true hero. All foreign-based Nigerians are cowards who ran away to enjoy the comfort created by those old colonial masters, slave-owners, white supremacist and those who believe and call the black race subhuman beings either by an intentional or non-intentional act.

It is time to get back home and join these heroes and make the black race a better race not subhuman race as it is today, thousands dying yearly on Mediterranean Sea with no action from the Africa Union, millions of Africans living in subhuman conditions in various places all over the world. Until you get back to Africa to help, please keep that criticism of your government, your society and proffer solutions based on technical research, not random hypothesis based on comparing both environments. Stop showing us the nice environment, stop showing us your nice mortgage homes and cars, stop enticing people to leave Nigeria, show them compassion, extend an helping hands, adopt a library or school, send us medical aids, invest back home and tell us how great we can be if this and that is done by actively partaking.

Let’s join hands together to change the subhuman tag to superhuman tag, the Chinese did it, Indians are doing it now, and we Africans can do it too starting from Nigeria the most populous black nation on earth. A working country – Nigeria is a working and better one black man out of ten in the world, thanks again to those heroes that never ran away like many cowards like us.

********Coward means “a person who lacks the courage to do or endure dangerous or unpleasant things”.

Whatever Happens – My Diamond Is Forever

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By Jaja Agu Kalu Mba

I was already on my way to the East for the Christmas and other celebrations when the authentic news of the merger/acquisition of Diamond Bank with/by Access Bank filled the entire social media. It wasn’t a surprise to me or some others who have been following the developments in the bank. Then I read many of the comments, for and against. I also commented on a few of them, especially on the Facebook page of Diamond Bank employees (past and present).

One comment on the Facebook page really hit me hard and it reads as follows, “Change the name to “Diamonds are NOT forever”. Before then others had suggested closing the group titled “Diamonds are Forever” or changing the name to “Access are Acquirers, etc. I immediately thought about other organizations that I proudly belong and our slogans: CASOR – “Once a CASORite, Always a CASORite”; Heriot-Watt University Alumni – “Once Watt, Never Not”. Nothing is going to change that as far as is humanly possible in my head. Why will I drop “Diamonds are Forever”? It is not possible.

I graduated late 1998 to early 1999 when Nigeria was transiting from military regime to democracy. We graduated without touching and most times without seeing computers. There were few jobs available and reserved for people who knows people. That was the era when IM was a popular slang in Nigeria, especially SE. There were few scholarships local/overseas that you could apply to do postgraduate studies. When there is any, before you hear about it the deadline has passed. It was all paper-based and there was no internet, and you cannot afford to buy newspapers where the adverts appear.

Landing Enugu from Gombe State the hustle started in earnest. I was being invited for aptitude tests almost every Saturday, tests were mostly passed but none became an employment;

National Bank WAEC aptitude test at PH and interview at Lagos.
Arthur Andersen test where only four of us passed and the lengthy interviews, with so much promises that I started ignoring many bank tests, including Diamond bank test at Owerri.
FCMB, Platinum Bank, Several other banks, Guinness, Nestle, Lion Of Africa Insurance, First Bank, Accenture, Capital Alliance, National Oil & Chemical Marketing Coy (NOLCHEM – now Conoil), Insight Communications, WAMCO, etc. The list is very long. 95% of aptitude tests passed no employment.

By this time suggestions were forthcoming. Visit prayer city for deliverance; you can’t have this kind of result without a job waiting for you. A friend even invited me to follow him to see a man of God who prayed for him to get a bank job. That night I brought out two chairs for God and myself and had an all-night discussion with him. Others of course have concluded that with the course I studied and my class of degree that I was good for nothing than being a lecturer. At some of the interviews they will tell me, “I know you have several job offers and came to try us out and make a choice”.

And who said being a lecturer is a bad idea? I packed and went down to UNN, did the necessary documentation and resumed. However, ASUU strike didn’t allow me to work. It wasn’t long and my Oga called me that I have another test with Diamond Bank. He could sense how reluctant I sounded and he urged me to just try. I went for the test at Nigerian Law School where I have become a regular customer. In those our days young graduates dress up on Saturdays and head to Law School uninvited to see if there is an aptitude test they can gatecrash and write. Weekdays we trek around Broad Street and Marina checking offices that are accepting CVs; then we will move down to Victoria Island and continue disturbing security men who by this time dismiss us with the question, “Do you have a minimum of a 2.1?”. Thank God for Nigerian banks; they were majorly the industry that were giving Nigerian graduates opportunities without a connection. The population of candidates in aptitude tests normally will run into thousands, and so it was for this particular Diamond Bank aptitude test. The journey that started with thousands in Law School test center ended up with a list containing only 28 names and I met a GM (Emeka Onwuka) who later became the CEO of the bank in the course of the interviews. Before the ASUU strike was called off I was already at Diamond Bank Training school where I met 49 other interesting trainees popularly known as “BOLOS”.

How could I forget the first time I picked a ‘Diamond’ chequebook, drew a cheque and cashed it? The first bag of rice I gave to my mum in December 2001 was from Diamond Bank. I was to get 10 more bags of rice with cartons of groundnut oil in my course of working for the bank.

I was a single employee yet the bank allowed my medical cover to be used for my family members when I joined. How can I forget the first time I travelled to Lagos by air in 2002/2003 for a training? It was a Sosoliso aircraft from Enugu airport. The closest I came to that airport was when we took children from my church for an excursion and here I was grabbing my luggage to go board a plane. I have heard stories about turbulence in the air and was secretly afraid. The captain had an Edo name and he just dived into the air or so it seemed to me. I closed my eyes and pretended to be asleep because I am used to flying – imagine. When I opened my eyes I saw small boys running around, going to the lavatory. I had to advise the fear to respect itself. The air travels happened some other time until it became constant and a popular means of travel even for my personal trips. However, I won’t forget the origin.

How could I forget that my house at Ohafia was built when I was at Diamond Bank? When I get distress calls from people asking for financial help to pay bills when their wives deliver a baby at a hospital I will remember that thrice Diamond Bank paid for me, from ante-natal to post-natal with superior treatment. I never paid hospital bills and they even pay a little sum to cater for out of pocket drugs that I bought when I wasn’t treated in a hospital (Medical off the shelf). I became a chartered certified accountant (ACCA) while working for the bank. I bought three cars in seven years while working for the bank, that is excluding the one paid for that I never got. During my wedding, they sent two vehicles to convey colleagues and my wedding gifts.

For the 10 years plus that I worked there I never knew what was bank charges, chequebook, ATM, transfer charges (local and foreign), name it. I once resigned from the bank, met a brick wall, returned and was taken back as if I never resigned. Few weeks down the line, I was promoted. I worked in a bank that thrived in trust and brotherliness. We called ourselves “Pally”. It doesn’t matter if you are a guy or a lady, from North or South. When we see a cheque with “016” and “203” code we have confidence to even part with cash before debiting. Mine was 016-203-000-9895. We trusted ourselves to a fault that we even shared passwords with our Ogas.

I can’t finish talking about “Diamond” in one post. More will come in the future. You may tell me that I worked myself to stupor to earn those benefits, especially for those who knew me in the bank. But I tell you that many Nigerian companies never gave me the chance to work hard.

Lastly, what is the percentage of Nigerians who owns a Rolex watch? Yes, the type worn by Tiger Woods. Because of Diamond Bank I am among those very few. And they invited me to that “White Party” after I left the bank to collect that prestigious watch and a Diamond-shaped crystal plaque.

You see, so many things may have gone wrong, the bank may be acquired, we Diamonds may be unhappy. But one thing remains – “My Diamond is Forever!”

This is appreciation Day 18. Thank you so much Diamond Bank for believing in me and giving me the opportunity to serve.

[Apply] AfDB Next African Global IT Leaders Program In South Korea

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Are you an African mid-career professional with English proficiency and a degree in an IT-related area? Apply for the Next African Global IT Leaders Program by APRIL 9 to study at higher educational institutions in Korea. More info below!

The African Development Institute of the African Development Bank is implementing the next African Global IT Leaders Programme under the aegis of the Korea-Africa Economic Cooperation (KOAFEC) Knowledge Sharing Programme (KSP). The objective of the programme is to create across the African continent a critical mass of global IT experts: highly trained professionals in ICT.

The secondary objective of the programme is to expose mid-career professionals in African countries to the latest techniques and knowledge available through graduate studies at higher educational institutions in Korea. Upon completion of their studies, the scholars are expected to return to their home countries to apply and disseminate their newly acquired knowledge and skills to enhance the development of their countries.

This two-year Masters degree programme in Information Technology provides integrated courses focused on the IT technologies and Korean business strategies. It also offers opportunities for networking with Korean IT industrial companies through classes and seminars; field trips to traditional sites to experience Korean culture and history; and on-site workshops at IT companies.

The rigorous student selection focuses on employees working in the field of ICT in public and private sector in the Bank’s regional member countries. Applicants should additionally have the following qualifications:
1. A certified Bachelors degree in an IT-related area
2. A certificate of English proficiency: TOEFL (iBT 83, PBT 560, CBT 220), IELTS 6.5, TEPS 599, TOEIC 720 or higher). These should have been taken at most two years before the deadline of the application
3. A public official, employee of public institutions or senior-level researcher at national research institutes working in IT fields (employees from private companies will not be considered)
4. Korean citizens are excluded – this also applies to Korean citizens with dual citizenship.

Please apply online on https://apply.kaist.ac.kr/intergradapply before 1700 hrs on 9th April, 2019 (Seoul time). Further details are available in the attached guideline.