In today’s videocast, I discuss The Elumelu Way and what African entrepreneurs can learn from it. The Elumelu Way is the construct enshrined by the legendary Lagos banker and investor, Tony Elumelu. Through hard work, discipline and vision, Mr Elumelu has built one of the finest financial institutions in Africa. Upon retirement from United Bank for Africa Plc CEO, he pioneered a truly novel way of philanthropy through the Tony Elumelu Foundation. Highly respected around the world, the icon has many lessons aspiring entrepreneurs can pick. This videocast shares some gathered over the years by studying his writings and video clips.

The following are related videos

The Elumelu Way: Core Pillars for Successful Execution [Video]

My 3 Pillars In Raising Capital As An African Entrepreneur [Video]

TechCrunch is hosting its first startup competition in Sub-Saharan Africa.The celebrated Startup Battlefield competition is coming to Nairobi on Oct 11 2017.

They are looking for Sub-Saharan Africa’s best innovators, makers and technical entrepreneurs to participate in TechCrunch Battlefield Africa 2017. Startups can apply to three categories: social good, productivity and utility, gaming and entertainment. TechCrunch will host the event in Nairobi in front of a live audience and top judges, and they will live stream the show on TechCrunch and Facebook so the rest of the world can tune in. The judges will choose a winner in each category and select an overall winner, “Sub-Saharan Africa’s Most Promising Startup,” whose founders will win $25,000 USD in no-equity cash plus an all-expense paid trip for two to San Francisco to compete in the Battlefield at TechCrunch’s flagship event, Disrupt SF 2018.

Sub-Saharan African startups are helping unleash the region’s potential, from last-mile technologies that deliver edtech, agritech, and medtech to remote areas, to mobile-based fintech innovations that ease financial transactions and lending in bustling cities. Sub-Saharan Africa’s diversity in language, culture, politics, technology and living standards demands huge creativity from entrepreneurs.

Here’s how to participate

Startups must fit into one of three categories (social good, productivity and utility, gaming and entertainment) to participate. Five startups in each category will be selected to join us on stage for the Battlefield Africa in Nairobi.

Apart from clear relevance to one of the three themes, qualifying startups should:

• Be early-stage companies in “launch” stage
• Be a resident from our eligible countries
• Have a fully working product/beta, reasonably close to or in production
• Have received limited press or publicity to date
• Have no known intellectual property conflicts

What do the winners receive?
Apart from the exposure that comes from pitching to the global TechCrunch audience as well as the live audience of distinguished technologists, entrepreneurs, and investors in Nairobi, the overall winner will receive $25,000 in no-equity cash plus an all-expense paid trip for two to San Francisco to compete in Battlefield at TechCrunch’s flagship event, Disrupt SF 2018.

What are the judging criteria?

Productivity & Utility — The judges will pick startup with the product or service most likely to go into full commercial production and have the biggest impact on human potential and/or the largest exit.

Social Good — The judges will look for the startup with the product most likely to catalyze social and economic development through technology.

Gaming & Entertainment — The judges will pick startup with the product or service most likely to see wide consumer adoption and have either the biggest exit and/or impact on gaming and entertainment.

Apply here –  due July 14th, 2017 at 5pm PST.

Source

In today’s videocast, I discuss the rise of Paga. Paga is a fintech company based in Lagos, Nigeria. It started as a mobile money company but quickly pivoted when it realized that mobile money was not (quickly) taking shape in Nigeria. Paga is growing and is well positioned to become a very important financial institution in Nigeria. Its numbers, revealed by its Founder, are better than most public-traded Nigerian insurance companies and in coming years, I expect it to overtake most banks in profitability.

They always say that opportunities come to those who are usually prepared for them. I am not sure how many of us were prepared that our generation has witnessed the best investment opportunity of the last 2,000 years. That opportunity was not for hedge funds or some secretive Wall Street kings and deal makers. This one was largely open to the whole populace for those that dare dream.

Bitcoin is turning out to be a hugely popular investment for those that took the risks. Fortune broke the numbers is a very short enlightening piece.

Seven years ago, the value of a single bitcoin was worth a quarter-of-a-cent. Today, that single bitcoin is worth upwards of $2,200.

Monday marked the seventh anniversary of what is said to be the first recorded instance of bitcoin used in a real world transaction. Over the course of seven years, bitcoin’s value has multiplied 879,999 times over since 2010. If an investor had decided to spend five dollars back then on about 2,000 bitcoins, that stake would be worth $4.4 million today. With $1,200 spent on some 480,000 bitcoins, the investor would be worth at least $1.1 billion today.

The early months of 2017 have been particularly heady days for bitcoin. Since the beginning of the year, the value of the cryptocurrency has surged as it gains legitimacy in countries like Japan. Investors have also come to see the currency as something of a safe haven asset amid geopolitical turmoil — and there’s been plenty of that in recent months, in both Europe and the United States.

But this does not mean you should go out today and buy one. Be warned, it can turn into a vapor currency in hours!