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The Rotimi Amaechi’s Voice [Listen], Nigeria Needs to Update Constitution

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by Amaka Uche

I do hope the alleged Rotimi Amaechi’s voice, as reported by Premium Times is fake. Also, can someone explain to me why ministers and commissioners (paid by the citizens) are allowed by the Nigerian Constitution to serve in partisan Director-General positions of electoral campaigns?

The recording contains a portrayal of Mr Buhari as a dismal failure who has been unable to meet the expectations of various segments of the society, ending with a dismissal of Nigeria as a never-going-to-change hopeless nation.

The transcript of the recording reads: “These are not things you publish ooo. If you publish them, you will never sit with me any day.

“Three years of Buhari oo, everybody is crying, crying…pressmen are crying, farmers are crying, workers are crying, politicians are crying, students are crying, three years oo!

“The rate of poverty is very high. The people are hungry. Nigeria will never change!”

Across the nation, PDP and APC commissioners are appointed DGs of governorship campaigns, and at the presidential level, Rotimi Amaechi, a federal minister of transport, heads President Buhari election campaign.

Before you attack APC – this did not start with Buhari; from Obasanjo to Jonathan administrations, this has been the norm. A female minister headed the women wing of PDP while she was a minister!

As the alleged voice of Amaechi depicts, being partisan takes away any objectivity. That is why I think Nigeria should update the Constitution to make it illegal: if you are appointed into a federal or state cabinet, you cannot be involved in any direct partisan politics like running elections, as a Director-General, unless you resign your cabinet position. Unless we fix that, we will not have objectivity in service; one message for the public, one for the inner club.

Nigeria Leaps Ahead; $726 Million Invested in African Startups in 458 Deals

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According to numbers compiled in WeeTracker’s Venture Investments Report 2018, US$726 million was invested across 458 deals in African startups. That is a 300% gigantic leap in the total funding amount and over 127% increase in the number of deals as compared to 2017.

In terms of the number of deals, all inclusive, NIGERIA outperformed all other location with a total of  136 deals. South Africa, which gave it a close competition stood second with 107 deals, followed by Kenya with 73 deals. This trend has a slight deviation from the last year where South Africa had topped the chart. Joining the race this year along with the investor’s preferred destination are countries like Egypt, Uganda, Ghana and Tunisia.

  • A total of 243 investors participated in the investment landscape in Africa
  • 458 startups raised funding in various rounds throughout the year
  • 80% of the deals were concentrated in South Africa, Nigeria & Kenya.
  • Fintech retained its top position as the sector with most funding.
  • 30 startups made it to the 5 million club of fund raising across the continent
Startups which received $5m or more. Source: WeeTracker

 

Some of the startups. Source: WeeTracker

My Most Impactful Articles of 2018 on Tekedia: “The Call to Mission” is #1

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Mission

We have compiled the most impactful articles I authored in 2018: “The Call to Mission” topped the list. The piece had 17 re-print requests from print newspapers, religious organizations, and HR/leadership companies. I had explained how the Messiah had recruited His disciples, trained and prepared them, to execute the mission. If possible, read it again here.

The second most impactful article was the One Oasis Strategy (PDF) where I articulated a management framework on efficient utilization of capital. This brought the highest consulting and advisory opportunities to us. The third most impactful was Aggregation Integration Construct.

In 2017, Marginal Cost, and Accumulation of Capability Construct were the top two. My plenary presentation at the Tony Elumelu Forum “The Next Frontier” came third (was published late in the year, could have made #1).

We do not track traffic, internally, on Tekedia. Yet, if you check Alexa, these articles were the most searched. My most cited and re-printed leadership article of all time is on ants, published in Harvard Business Review. The Catholic Church has integrated it in a leadership manual. Clayton M. Christensen investment firm has it as a required reading.

Beyond Samsung Galaxy, the Samsung Tecno for Africa

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On the piece that Samsung will buy Tecno within 5 years, I have updated it with the core basis of my prediction. Largely, if Samsung cannot grow in U.S. and Europe*, the only remaining place is Africa. Samsung has no serious market share in China. It has struggled in Japan. And in India, Chinese firms are now winning there. So, if you look critically, it is only Africa that it has as a growth market.  But since it is losing market share in Africa, it can buy itself out! Why save itself in Africa? It was doing better in the continent before it started fading. In the other markets, it never really did well.

Samsung market share is about 1% and is included in others in China (source: counterpoint)

You can minimally add Apple iPhone in this paralysis of losing market share; Huawei overtook Apple few months ago on smartphone shipment. Despite Apple argument via the Tim Cook letter, the real issue is that many Chinese phone makers are making great phones at 60% of iPhone price. So, in Asia, few people want to spend money on iPhone when they can get really great ones at 60% of iPhone price.

Apple CEO Tim Cook released a statement, warning investors Wednesday that the company is lowering expectations for its first quarter 2019 performance: “While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China. In fact, most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad.”

Notice the *: I added it because U.S. and Europe are strategically keeping Chinese brands out of their territories on the basis of national security. So, Huawei and Mi are not officially sold in U.S. through the big channels like telecom operators like AT&T and Verizon. If U.S. has allowed Huawei, Samsung and Apple would struggle at home. Americans like value and when they see how much Apple and Samsung are charging compared to the value on price and quality that Huawei offers, they would go for Huawei. The national security accusation is not strong since most of the phones sold in U.S. are actually made in China including Apple iPhone, and the ones sold by the telcos like Verizon and AT&T.

On the acquisition, how much would it cost? Looking at Tecno Mobile financials, it made (at most) $1 billion on revenue as at 2014, shipping 37 million units of phone in 2013. Samsung revenue in 2016 was $176 billion; the firm shipped 72 million phones in Q3 2018. Simply, Samsung can afford to acquire Tecno and make it Samsung Tecno with focus on Africa and Latin America. Samsung Galaxy is not cutting it here; Samsung Tecno is a better name! Maybe, it may cost it $6 billion to have Tecno in-house.

Smartphone unit shipments of Samsung worldwide by quarter from 2010 to 2018 (in million units)