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The Strive Masiyiwa’s $100 Million Zimbabwe 2.0 Startup Fund – “Nwaoha” of Zimbabwe

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Strive Masiyiwa, the Founder of Econet, and his wife Tsitsi Masiyiwa have pledged $100 million to fund rural entrepreneurs in Zimbabwe. This is a massive moment in that African nation. This mirrors the Tony Elumelu $100 million structured for African entrepreneurs.

Some features for Strive Masiyiwa Fund: women will get minimum 50%, no collateral required, and no political lobbying for support required. In Igbo land (Nigeria), parents name their kids Adaora [daughter of all] and Nwaoha [child of all, usually males] symbolizing that a child belongs to all in the community, not just the parents.

Strive is Nwaoha of Zimbabwe: he is building Zimbabwe and he deserves our commendations.

My wife and I have decided to set up a special fund of $100m over 5 years for ReImagine Rural in Zimbabwe.

We have also challenged our friends in the philanthropy community to join us to expand it across Africa.
The fund which is our own personal money will be disbursed as loans through Steward Bank (a member of the Econet group).

The money will support projects from rural entrepreneurs or those entrepreneurs willing to focus on rural areas.

SB will set up a special team [Masiyiwa Rural Challenge Fund].

I want to use this initiative to challenge global donors to support mass entrepreneurship in Africa by putting my own money into what I believe. My wife is currently on a major drive to get this concept adopted by other philanthropists, so we can push into other African countries.

This initiative does not reduce our commitment to other areas of our philanthropy efforts including education and the $60m sanitation and water initiative in Harare.
We thank the Lord who empowers us!

Details of how the fund will work were posted on his Facebook page and we know the following:

  • 25% must be set aside for an area of Zimbabwe called Matabeleland;
  •  Women must get minimum 50%;
  • Young people must be the focus;
  • Traditional businesses like stores and grinding mills will be excluded. We want to see a new generation of businesses, to fulfil my dream of #ReImagineRural.
  • Min: $1000, Max $10,000.
  • No collateral;
  • Maximum interest 5%;
  • Repayments will go into revolving fund;
  • All entrepreneurs must undergo training before loans;
  • No political lobbying for support

Council of Experts Nominates For Top 100 Achievers

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Yours truly received a letter yesterday that the Council of Experts (European Union) meeting in London UK has entered my doctoral work and the patent which came out of it for Top 100 Achievers in Minimally Invasive Surgery practice. I invented a special mechanism to build dexterous robots during my PhD in the Johns Hopkins University.  The United States Government acquired licensing rights on the patent last year.

 

Nigeria’s Minimum Wage Struggle – A Pyrrhic Victory

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By Martins Eke

It is superfluous to mention that interlocutions relating to the minimum wage in Nigeria have unfortunately received little or no concern. For a fact, Nigeria’s minimum wage talks are as messy as the Brexit talks. Perhaps, the sparing attention lent it is the better of two conditions: What is more is that in times where minimum wage issues motivate some conciliatory attention, there appears to be disconcerting variation in the ends of both the Federal government, Nigerian Governors Forum and the Nigeria Labour Congress. What this sloppy condition means is that Nigeria may continue to whirl in circles – one that is immensely attributable to the unfathomable doggedness of the Nigerian Government Forum which has refused to agree with the threshold of 30,000 Naira minimum wage and the near justifiable insistence of the Nigeria Labour Congress, the effect of which is the irremediable nationwide strike.

It is logical to admit that the government of Nigeria cannot, or strongly ought not to put a flat minimum wage across the states in the Nation. An action in this direction reeks of two neat indices of feigned naivety: first, that every state in Nigeria has equal economic strength and a deliberate absentmindedness to the asymmetrical output of states over the years serving to unfairly cover for the inequities of some states in terms of their returns to the Gross Domestic Profit of the nation.

While we concede that a flat minimum wage cannot reasonably be made across board, we however express dissatisfaction at the lacunae in constitution – the originating source of all laws, contemplates a minimum wage that cuts across all states of the federation which in for our money, is the genesis of this vicious circle which promises no revelation of amity. Whether it pleases us to hear, the interplay of factors such as cost of living and income generation will always interface to determine what a state can pay and we must admit that the effect of these factors do not apply across board in similar fashion. One may ask, is it not foolhardy to then consequently react in similar fashion across board?

For some inexplicable reasons, it is apparent, if not intrinsically true, that Nigeria which ought to be a federal state has always gravitated somehow to  centralization. This is perhaps as disconcerting as it is unforgivable, considering the prodigious amount of literature including the constitution that theorizes the government of Nigeria as a palatable federalism. This organic hypocrisy perhaps is borne out of the caution to not become a confederate state. We are best suited to work like the United States of America but we are stuck to the cleavages of our colonial masters who do not even practice a federal system.

The United States of America adopts a minimum wage based on a state basis and also has a federal minimum wage. Facts and verifiable statistics have it that, 29 states in the U.S enjoy a minimum wage higher than the federal minimum wage while states like Georgia are a bit below the threshold.

If Nigeria is to take a cue from such idealism then maybe we may have had a reasonable head way presenting a more printable panacea than any cockpit fight between the Federal Government alongside the Nigerian Governors Forum and the Nigerian Labour Congress can possibly provide the citizenry without a choice but to remain at the unfortunate end of a meaningless tussle of unimaginable grandstanding.

The National minimum wage brawl is sheer wickedness on the citizens and governors who legitimately cannot pay or at best is a nearsighted fight of the Nigerian Labour Congress to either flutter settled waters or just for what it is worth. How prudent is it to ask of Lagos state that which can be reasonably asked of Sokoto state which has 81.2% poverty rate?

By and large, the controversy has lingered this long not because the NLC and Federal  Government have held doggedly to their jealous ends of bargain but because somehow, the Nigerian Governors Forum has not reconciled with paying 30,000 naira minimum wage and of course, they wear the shoe and know the attendant consequences of assenting to a figure that they cannot pay. In fact, how many governors have religiously kept the extant minimum wage of 18,000 naira and are not owing its civil servants?  Although, corruption is a contributory factor to this failure, nonetheless, we cannot say the plaint of the Governors have no bearing. No doubts, they all admit to top up the existing 18,000 naira minimum wage but not by almost a 100% as demanded  by the Nigerian Labour Congress, a good number are within the threshold of 24,000 naira as its minimum wage and in fact, that is the amount proposed by the federal government.

Furthermore, the implication of imposing a minimum wage which is difficult to maintain is often felt more by the labour force who are often at the behest of their employers. The likelihood of reduction in the workforce is too strong to be dismissed quickly, consequently leading to an increase in unemployment rate and its far-reaching negative effect on our economy and society at large and even those who would be fortunate to retain their job will have to live with the fear of job insecurity and of course, battle unpaid salaries. These indices are not mere speculations but are the challenges that we battle presently even at 18,000 naira minimum wage.

Be that as it may, how then does the present struggle improve the lives of the labour force if it comes with the attendant consequence of job insecurity? Isn’t the Nigeria Labour Congress being overly short-sighted in this struggle?  Wouldn’t it be fair to say that NLC victory over the minimum wage will spell tomorrow’s doom? can we then say such victory is laughably pyrrhic.

RECOMMENDATIONS

  1. Ultimately, the constitutional provision on minimum wage should be revisited. The extant placement of minimum wage as a matter for the exclusive legislative powers of the National Assembly is too rigid. The state should enjoy the privilege of legislating on minimum wage bearing in mind the threshold as contained in the national legislation, this will afford the State Labour congress a leverage to agitate  on a wage it thinks is fair in a particular state that way, it would avert possible nationwide strike.
  2. That the Nigeria Labour Congress should invoke the Freedom of Information, Act in demanding for the financial books of each state to ascertain the threshold of the federal minimum wage scale.

Zenvus Loci Concept Designs As We Move Into Production

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These are the Zenvus Loci concept designs as we move into production – prototype already done and solid. Concept 2 wins here for Loci Max. There is another design, not shown here, for Loci Mini. Loci is an IoT designed for the African market. We are creating everything from scratch through PCB to production.

We’re Launching A New Hardware Product (Loci), Distribution Partners Wanted

Positioning For That Payment To Come

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NairaCoin, Bitcoin

I have received many feedbacks on the ‘Getting paid” post from the community. After scanning few, the questions are along this line – “How do you position to get people/firms to pay for those services?” This is my answer:  to get people to pay you, make them to see a business and not you (the person). If you can structure to have that distinction, between you and the business, you will get paid.

You Need To Ask To Be Paid!

See it this way: if your landlord calls you to come and fix his computer, he expects you to do it free. Yes, the same landlord that collects rents from you and never gives you waivers. But your computer skill is free and should be accessed for free. (Get the context, I am not saying you should not help people or support your community). But if that landlord contacts a company for the same job, he will expect to pay for that service.

Personally, I have a non-profit, African Institution of Technology, which has a decent annual budget to do many things in African universities. Everything we do there is FREE. Simply, I advocate that you have a mindset to support communities and not just live on packing more money. Yet, it is important to know when you need that payment to actually make it happen.

To move from You to a company in Nigeria, all you need is a Business Name.  It costs N5,000 (last quarter, government did bonanza by cutting it from N10k to N5K for Business Name registration). With a Business Name, you can position your service as coming from a company to get people to open their wallets to pay you. But when you parade all as YOU (the person), you will run out of luck.

Develop a strategy around this and work on it. What you are doing already is work. It does not have to be within NNPC or Dangote Group or Federal Ministry of Finance to be called work. Just ask to be paid when you want to be paid! Good luck.