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Mamoudou Gassama – The Mali’s Spider-Man [Video]

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Mamoudou Gassama

From CBS:

A young man from Mali is being praised as a hero after he scaled an apartment building to save a child dangling from a balcony. President Emmanuel Macron on Monday rewarded the young man’s bravery with an offer of French citizenship and a job as a firefighter.

“Bravo,” Macron said to 22-year-old Mamoudou Gassama during a meeting in a gilded room of the presidential Elysee Palace where Gassama also received a gold medal from the French state for “courage and devotion.”

Gassama climbed five stories up the apartment building, moving from balcony to balcony, and whisked a 4-year-old boy to safety on Saturday night as a crowd below screamed. His actions went viral on social media, where he was dubbed “Spider-Man.”

 

Founders, Competition is Not Your Problem; Execution Is.

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Usain Bolt

“The competitor to be feared is one who never bothers about you at all, but goes on making his own business”

Henry Ford

Nigerian founders, competition is not your main enemy as you build that startup. Your main enemies are the internal elements in your company which could affect flawless execution. Do not fret morning and night about competition because ideally for a Nigerian startup, you do not have many competitors!

Most of our industries are still at infancy with the incumbents largely operating at sub-optimal levels. So, when you focus on competition, you lose the sights to think how to innovate and make great products. (You should be aware of competition, but do not think they are there, to snuff life out of your business. That is not the case.)

Failing as a Nigerian startup is not because any competitor took you down. The likely major reason is that you could not execute to fix that friction you have established that company to solve. For the solar companies that went under, they did not die because of DISCOs, since the DISCOs are still not distributing enough electricity. Those logistics startups did not collapse because of competition as our logistical systems in Nigeria are still at infancy. The farms did not collapse because we suddenly have excess produce capacities from big farms. Largely, failing as a startup, in Nigeria, has nothing to do with excessive competition: it is a product of inability to execute. (I am hoping you do not plan to start another Facebook to make a case that competition does kill!)

Fix a Friction: Frictions exist in markets and because of those frictions we have the need for companies. Those frictions are the market needs which companies are created to solve and fix. As an entrepreneur, your main job is to find frictions which are prevalent in markets and which affect many people and companies. For example, in Nigeria, we have a friction in the inadequacy of electricity. It affects many people and companies and certainly something that needs to be fixed.

So, as a founder, give yourself a break and focus on the real business: building great products and a fantastic company. Do not allow another new fund-raise by a perceived competitor to stress you. Do not allow another new city expansion by the same competitor to stress you. Do not allow another hiring of Vice President to stress you.

But worry if you are not serving your customers and improving your products. Many startups do not die of murder [competition], they die of suicide [lack of execution], notes Sam Altman of Y Combinator.

Get back to work and stop being fixated on competition. Sure, you do need to be aware of competition but it does not need to stay in your face as you pursue your mission. Most sectors in Nigeria remain at infancy. If you have a real business model, you would be fine. You may see big buildings and expensive cars driven by (incumbent) executives, but if you check well, the market has not been scratched.

Consider the insurance sector where we still have only single-digit market penetration [Vanguard has 0.4%]. There could be “competition” but if you are really innovative, you can create a new basis of competition and disrupt the market. Not doing well in the insurance sector cannot be due to competition, rather your inability to at least move the penetration to say 30% from the current single-digit. That is execution failure.

NB: Startup in this content means going to create something of value with transformational impacts in the market. It is different from small business which could be “barbing salon” [Nigerian slang for barbershop], selling corn along the roads, etc that rarely scales. While a barbing salon [small business] could have competitors on a street, a barbing entrepreneur who runs many salons across Nigeria, will not collapse because of many salons, at the moment. Rather, the entrepreneur will likely go down because of poor execution. Nigeria has not attained parity on the number of barbing salons it needs at the moment; we have more rooms to grow nationwide, but that has to be done optimally and profitably. The competitive elements remain low.

“A company five years old can still be a startup,” writes Y Combinator accelerator head Paul Graham via email. “Ten [years old] would start to be a stretch.”…

One thing we can all agree on: the key attribute of a startup is its ability to grow. As Graham explains, a startup is a company designed to scale very quickly. It is this focus on growth unconstrained by geography which differentiates startups from small businesses. A restaurant in one town is not a startup, nor is a franchise a startup.

Zenvus Unveils Public Property Search for Farms and Farmlands

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Zenvus public search result

Few weeks ago, we received messages from partners and farmers: they would like a public search to validate and authenticate digitized farms and farmlands within Zenvus database. Farmers were using the Zenvus Boundary report as a document to demonstrate evidence of asset ownership as they look for small loans before friends, families and financial institutions. Our goal has been to design a system that would help in the formalization of assets controlled by our farming partners. We do think that a man who inherited 2,000 hectares of land should not be classified as being poor in any fair society.

Zenvus Boundary maps property boundaries and superimposes them on Google Earth, providing stunning visualizations of properly locations and perimeters. The resulting maps or surveys can be printed from Zenvus web portal. Property owners (land, farm, and house) can do this without any external help. This video explains all. We have franchising opportunities across Africa for those interested in helping farmers, landlords, etc to digitize their property perimeters and locations.

Doing the public search was not really hard but we needed to be sure of legal compliance elements. Africa’s land regulations have not evolved for decades. It turns out that we can do it creatively without compromising privacy and security of assets. We worked with farmers’ cooperatives and tested with some partner-institutions. Today, we are launching the public search of any property within Zenvus Boundary.

For our agents and partners, this search function is in your dashboard. For farmers and the public, here is the link to use. To use it, type the Zenvus code for the report (it begins with SB at the Right Hand Side of the report). Click the “I am not a robot”, then hit Search. The outcome will look like this.

Zenvus public search result
Zenvus public search result

 

Address by President Buhari on 2018 Democracy Day [Full Text]

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ADDRESS BY MUHAMMADU BUHARI, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA IN COMMEMORATION OF THE 2018 DEMOCRACY DAY CELEBRATION, TUESDAY, 29TH MAY, 2018

My Dear Nigerians!

Today marks the 19th year of our nascent democracy and the 3rd Anniversary of this administration. I am thankful to Almighty God for bringing us thus far. This administration came at a time that Nigerians needed Change, the Change we promised and the Change we continue to deliver. We have faced a lot of challenges on this journey and Nigerians have stood by us in achieving the three cardinal points of this administration namely; Security, Corruption and the Economy.

2. The commemoration of this year’s Democracy Day is a celebration of freedom, a salute to the resilience and determination of Nigerians and a recommitment by Government to keep its promise to lead Nigeria into a new era of justice and prosperity.

3. Public safety and security remains the primary duty of this Government. Before this Administration came into being 3 years ago, Boko Haram held large areas of land spanning several Local Governments in the North East.

4. Today, the capacity of the insurgents has been degraded leading to the re-establishment of authority of government and the release of captives including, happily, 106 Chibok and 104 Dapchi girls, and over 16,000 other persons held by the Boko Haram.

5. In order to minimize the impact of the insurgency on Internally Displaced Persons, Government has established secure IDP Camps and has improved the mechanism for the distribution of basic aid, foods and essential commodities using various strategies in collaboration with local and international Organizations.

6. Efforts are in process for resettlement of IDPs in their home communities by providing schools, hospitals, clinics, water, and sanitation to facilitate a quick return to economic activities. Government is similarly implementing de-radicalization and rehabilitation programmes to facilitate sustainable peace and development.

7. The unfortunate incidences of kidnappings, herdsmen and farmers clashes in several communities which have led to high number of fatalities and loss of properties across the country is being addressed and the identified culprits and their sponsors shall be made to face the full wrath of the law. All the three tiers of Government are presently engaged with communities and religious organizations to restore peaceful co-existence among Nigerians.

8. I want to commend members of the Multinational Joint Task Force drawn from Niger, Benin, Chad, Cameroon and our own country in collaboration with the International Community who are assisting in the fight against insurgency in the North East. I also commend the gallantry of members of our Armed Forces and other security agencies that have continued to provide security for lives and properties across the country. State and Local traditional authorities are helping with much needed intelligence in this fight against insurgency.

9. This administration is pained over the grievous loss of lives and properties occasioned by the carnage of insurgency and other forms of criminality in the country. I wish to assure Nigerians that we will not rest until all criminal elements and their sponsors are brought to justice. Government is boosting the capacity of our security agencies through recruitment of more personnel, training and procurement of modern equipment, enhancement of intelligence gathering as well as boosting their morale in the face of daunting challenges.

10. The Niger Delta Region has enjoyed relative peace through social inclusiveness and cooperation of the Elders and the good people of the region. Government is committed to implementing the comprehensive peace, security and development plan for the region. The environmental clean-up of the region which commenced with the launch in Bodo, Ogoni in June, 2016 is progressing satisfactorily. Furthermore farming assets are being revived and investors in cocoa and palm oil plantations are showing serious interest.

11. The second primary object of this Administration is to fight corruption headlong. Like I have always said, if we don’t kill corruption, corruption will destroy the country. Three years into this Administration, Nigerians and the international community have begun to applaud our policies and determination to fight corruption. We are more than ever before determined to win this war, however hard the road is. I therefore appeal to all well-meaning Nigerians to continue to support us in this fight.

12. Various policy measures already put in place to stem the tide of corrupt practices are yielding remarkable results. Some of these key reform policies include:

a. The Treasury Single Account (TSA) has realized Billions of Naira being saved from maintenance fee payable to banks. N200 Billion has also been saved from elimination of ghost workers in public service.

b. The Whistle-Blowing Policy has helped to recover over N500 Billion;

c. The Presidential Initiative on Continuous Audit set up with a mandate to validate controls, assess risks, prune personnel costs, ensure compliance with Public Financial Management reforms has helped to identify and remove over 52,000 ghost workers from the Federal Government MDAs Payroll;

d. The Voluntary Asset and Income Declaration Scheme (VAIDS) aimed at expanding tax education and awareness has offered the opportunity for tax defaulters to regularise their status in order to enjoy the amnesty of forgiveness on overdue interest, penalties and the assurance of non-prosecution or subject to tax investigations.

e. The Sovereign Wealth Fund project portfolio has been expanded with an injection of US$650 million so as to strengthen its investment in local infrastructure, power, health, re-construction of Abuja-Kano road, Lagos-Ibadan Expressway, East West Road (Section V) and the Mambilla Hydro-electric Power project as well as the construction of the 2nd Niger Bridge.

13. The fight against corruption through the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission has resulted in recoveries of Billions of Naira, as well as forfeiture of various forms of assets. This alongside other efforts has improved Nigeria’s international image and regional cooperation.

14. We have retained the services of one of the world’s leading assets tracing firms to investigate and trace assets globally. This is in addition to the exploitation of provisions of existing Treaties, Conventions as well as Bilateral Agreements with Multilateral bodies and Nations. Nigeria has also signed Mutual Legal Assistance Agreements to ensure that there is no hiding place for fugitives.

15. This Administration has therefore focused on revamping the ailing economy it inherited in 2015. In 2016, Government executed an expansionary budget and developed the Strategic Implementation Plan. For the first time, 30% of the budget was earmarked for capital expenditure which represents an upward review when compared with the 2015 budget. The SIP was followed by the development of a comprehensive medium term plan – the Economic Recovery and Growth Plan 2017 – 2020.

16. The broad strategic objectives of the ERGP were to; Restore and sustain economic growth; Build a globally competitive economy; and Invest in our people. The implementation of the ERGP has started yielding results. The National Bureau of Statistics reports that the economy grew by 1.95% in 1st quarter 2018, which is a good performance when viewed against -0.91 in 1st quarter 2017 and -0.67% in 1st quarter 2016 respectively.

17. Our foreign reserve has improved significantly to 47.5 billion USD as of May, 2018 as against 29.6 billion USD in 2015. The inflationary rate has consistently declined every month since January, 2017.

18. Recently, Government conducted Focus Labs in three key sectors of the Economy namely, Agriculture & Transport, Manufacturing and Processing as well as Power and Gas. These have yielded significant prospects for investments and Job creation to the tune of US$ 22.5 billion with a potential for creating more than 500,000 jobs by 2020. These investment generation initiatives are expected to increase capital inflows in the form of foreign direct investment. There is a high prospect that the cumulative investments from this first phase of the Labs will hit US$39.2 billion by 2025.

19. Under agriculture, Nigeria continues to pursue a strategic food security programme built around self-sufficiency and minimization of import dependency. As a result, rice importation from other countries has been cut down by 90% which has a direct impact on foreign reserves.

20. The Social Investment Programmes (SIP) has been created as a means to graduating our citizens from poverty through capacity building, investment and direct support. The major strategic objective is to restore livelihood, economic opportunities and sustenance for the poor across the country. The SIP programmes and projects include:

a. Home Grown School Feeding Programme – About 8.2 million pupils are currently being fed from 24 States of the Federation with over 75,000 Catering Staff engaged under the programme.

b. The Conditional Cash Transfer has so far recorded over 297,000 caregivers and being trained by 2,495 Community Facilitators in 21 states. Less privileged Nigerians are now being paid N5,000 monthly stipend in 9 pilot States of Bauchi, Borno, Cross River, Ekiti, Kwara, Kogi, Niger, Osun and Oyo. Eventually the scheme will cover all the 36 states of the federation including the FCT.

c. Under the Government Enterprise Empowerment Programme – About 264,269 loans had been disbursed to 4,822 societies in the 36 States and FCT, while another 370,635 are awaiting release of funds.

d. N-Power Job creation Scheme – is targeted at providing jobs for unemployed young graduates and has so far recruited 200,000 youths while the next batch of 300,000 have been selected, verified and would soon be deployed across the 36 States and the FCT. Furthermore, 20,000 non-graduate volunteers have also been selected to kick off the N-Build programme in collaboration with the National Automotive Design and Development Council and the Council of Registered Builders of Nigeria.

21. In the area of power generation, Nigerians from all parts of the country continue to report better power supply and less use of generators. This underscores the effectiveness of the methodical plan to deliver incremental and uninterrupted power supply to our homes, markets, offices and factories.

22. The country achieved 5, 222.3 MW representing the highest peak of power generated onto the national grid and delivered to customers in December, 2017. With new facilities, repairs and rehabilitations by Government and private investors, generation capability now exceeds 7,500 MW.

23. This Administration is committed to lawful interventions to ensure the operators of the distribution business live up to expectations especially in the areas of distribution capacity, service delivery, collection efficiency, and metering to eliminate contentious estimated billing.

24. The Transportation Sector continues to undergo a series of reforms in order to sustain the international best practices and ensure safety and security. The nation’s major airports have witnessed reconstruction of runways, installation of navigational equipment and new international terminals due for commissioning in Abuja, Lagos, Kano and Enugu. Bilateral Air Services Agreements between Nigeria and the Governments of other countries will significantly open up new flight routes.

25. As a result of strict regulatory and compliance policies, Nigeria retained her Federal Aviation Administration (FAA) Category 1 status, after a routine international audit. Recently, a new Maintenance Repair and Overhaul facility with capacity for aircraft C-checks and other comprehensive levels of maintenance was established in Lagos. This would save the country an estimated $90m annually.

26. Giant strides have been recorded over the past three years to improve road transport infrastructure in all geopolitical zones of the country.

27. The Railway Sector has also received tremendous attention as this Administration is committed to the goal of linking all State capitals in the Federation by rail network to ease the movement of goods and passengers.

28. The Education Sector especially at tertiary level has continued to witness expansion in order to improve access to higher education by millions of youths in Nigeria. Over the last three years, Government has approved the establishment of 1 new Federal Polytechnic, granted licenses for the establishment of 4 State and 14 private-owned Universities as well as 12 private Polytechnics.

29. Government has also continued to support the implementation of various initiatives aimed at improving the quality of Basic Education delivery. Thus, it has ensured proper funding at the Basic Education level with the disbursement of N42.2 billion UBE Matching Grant to 26 States and the FCT, N851.5 million Special Education Grant disbursed to 23 States and private providers of Special Education and N2.2 billion Teachers Professional Development Fund to 33 States and the FCT.

30. The Federal Government has continued to support fiscal sustainability at the sub-national governments through the implementation of the Budget Support Facility which was accompanied by the 22- point Fiscal Sustainability Plan. Thus, bailouts funds were made available to States to ease their fiscal challenges and other obligations including payment of salaries.

31. In addition, a total of 73 Ecological Fund projects for the control of gully erosion in different communities across all geopolitical zones have been completed in the last three years and are undergoing commissioning while 53 other projects are ongoing. The execution of these projects has generated 357 skilled jobs and 1,350 unskilled jobs during this period.

32. It is pertinent to also make mention of the immeasurable contributions of the Nigerian woman to national development and advancement of democracy, over the last three years. The government and people appreciate you all as mothers of our great country.

33. My dear country men and women, as we all celebrate our democratic experience, let us resolve to avoid hatred and intolerance; we can only achieve our objectives in an atmosphere of harmony and peaceful co-existence.

34. Finally, the up-coming months will usher us into another season of general elections. Let me use this opportunity to urge us all to conduct ourselves, our wards and our constituencies with the utmost sense of fairness, justice and peaceful co-existence such that we will have not only hitch free elections but also a credible and violence free process.

35. In few days to come, I will be joined by many promising young Nigerians to sign into law the “Not Too Young to Run” Bill

36. I thank you for your attention.

37. God bless the Federal Republic of Nigeria.

Avoid this Metric As You Build that Business

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Founders, as you build your company and it grows, avoid the temptation to propel your self-esteem and self-importance by the number of people working in your firm. The number of staff working in a company is a very terrible metric to measure success in the 21st century.

Do not scale the wrong metrics just because it makes you look “big”. Yes, I do understand that some partners may focus on that in Nigeria before they could give you an opportunity. It is typical with banks and insurers as one of the key metrics they use is staff strength in ascertaining readiness for partnership. You do not need to fault them – they have the rights to examine partners from any angle they choose.

Yes, apparently, the more people you have, the more established you may seem! But do not follow that path and start hiring people that would corrode your culture. A business is built on culture and that culture is really the people that work in that firm. So, the people you hire and those that stay, advance or move on would determine what that business would become.

Simply, make a very good case why that metric of number is irrelevant in a knowledge-based startup where the quality of the team is what matters. It is better to have two great engineers than 10 mediocre engineers. And from what you have done, that partner would see the quality of your vision and the mission to it. The vision is the aspiration of the future. The mission is what you want to get done now, in the short-time. The two are anchored on the culture of the firm – the people that work therein.

Sure – growth will demand that you expand headcount but let it be based on real business needs and not the impulse to say “I have 250 staff now”. If your ego takes over, within months, you would be filling the whole company with people you do not need. Avoid that temptation if you want to thrive for the long time.

Many startups which raised money in Lagos had this problem many years ago. They hired with reckless abandon and ended up causing pains to the staff when they had to fire them. I know of a young man who left a promising bank career for an ecommerce company only to be fired within weeks. If the company had thought-through that position, strategically, that hiring would not have happened. But when you measure growth and success by the number of employees, people do crazy things when they have money in the bank.

Always remember – when WhatsApp sold for $19 billion, it had only 32 engineers (the total staff strength was around 55).

Even by the standards of the world’s best technology companies, WhatsApp runs lean. With only 32 engineers, one WhatsApp developer supports 14 million active users, a ratio unheard of in the industry.

Yes, you can build a company in the age of cloud computing with very small people. Provided you feel good on where you are going, you do not need to justify relevance by the number of people on the payroll. The metric of labor was one of the factors of production. In the 21st century, the shift has been made. Any bank that parrots its strength by the number of staff in its payroll may be missing something: the world is moving into an era where robots  and lines of codes would be the ubiquitous bankers.

If you hire for self-esteem, you may not be helping those workers because very soon, market forces would push you to let them go. There are many cases of those experiences in Lagos in startups where after raising money, founders go on hiring spree only to cut promising careers within months.