Category: Business

  • Covid19 Vaccine Fiasco In Africa

    Covid19 Vaccine Fiasco In Africa

    The year in 2021AD, an African country which shall forever remain unnamed, has just ordered for millions of doses of covid19m vaccines from China, yes it has always to be china since the Breton Woods became irrelevant and uncle Sam started churning out conspiracy theories. The ‘God-chosen’ government of this African country is holding a high level Media briefing to announce to its citizens how they managed to get the vaccine in good time since it cares for their lives. All the vaccines have been received and well stored in highly secured government warehouse. The mass mass vaccinations is to be commissioned by your loving president live on TV the following day. You only manage to catch the news later at nigh since you could not be at home to watch the live presser. You can’t help but give a sigh of relief and retire to bed hopping sooner you will get this  much needed jab.

    The following day ou wake up to the news that some of the boxes; thousands of them containing the vaccines never made it to the government warehouses as was reported by your Minister or Secretary for health. The minister hurriedly issues another written Media dispatch and warns that all those involved in the disappearance of the vaccinates would be prosecuted and if possible be electrocuted for messing up with the lives many citizens. Before you know it those busy bodies called Nothing Going On(NGOs) and some activists- for-hire hold placards on the streets demonstrating against the theft of the vaccines,but the demo doesn’t take long in fact, the intent of the organisers is to show their foreign funders that they are working. They proceed to take selfies and some other photo Ops which they quickly upload on social media and retreat to their west end offices in the quiet suburbs of the city waiting for foreign donations to hit their accounts to facilitate more demonstrations. While there they continue to issue threats and curses to the thieves by sponsoring all manner of social media hash-tags.

    As if in cue, the other stooges of the executive called The the Senate and National Parliament join the frenzy in investing the mysterious disappearance of the vaccines. They too hold countless meetings and trips soem of which to the Beijing- the source of vaccine and issue in equal measure, threats in the midst of copious amount of tea and hefty allowance running into millions. In the end you end up you local chief, the OCPD,OCS, the governors office, the local police, the DCI and a myriad of other anti-corruption bodies in the country all investigating the same theft.

    While the main substance of the investigation is cacophony of accusations and counter accusations, one of the few remaining relevant local media houses carries its own parallel instigation and reports that  some of the stolen vaccines were sold to Al-shabab in Kismayu while others were sold to Boko Haram in Nigeria, by associates of one of the prominent functionaries in the government and another by a politician sitting in the investigating committee in the Senate or National Parliament. But the government would hear non of this, it comes out gun blazing in denouncing the report. It assures the public that they are on it and that no any other report other that from the government should be trusted.

    Meanwhile the government goes ahead to roll out the vaccination, as it had promised starting with the doctors,the elderly and teachers, but, this a problem, there is shortage, grating to cripple the exercise. This shortage is as result of a number of factors: Since they represent you and must be healthy to serve you well, the politicians are the first to get the vaccines, followed by their girlfriends and boyfriends, both known and unknown. Next in line are their families, for as you know, behind every performing politician is a healthy family and relatives and of course girlfriend too. The public hospitals doctors and other public heath workers too upon receiving their vaccines go ahead to steal some thousands which they go horde to their desperate monied cooperate honchos in their private hospitals in some backstreet buildings in Abuja,Lilongwe, Nairobi or the prowls of Soweto. Due to this shortage, the price of one jab of the vaccine shoots like quasars from a black hole.

    Still held in thought as to why this is happening to you as you walk along the streets of Dzivarasekwa Slums in Harare, Mathare in Nairobi or Wandegeya market in Kampala, you are brought back life from your deep thoughts by those irritating prerecorded voice-overs announcing mobile SIM cards; this time they are advertising Covid19 Vaccine which promises to protect you for ever and ever Amen. You reach home still thinking if indeed the vaccine being advertised is genuine. So by the time the vaccine reaches cane cutters of Kakarira,fishmongers of Kado market in Abuja or rice farmers of Ahero in Kano, you would not know which of the many vaccines in the markets is genuine, which is generic or which one is just pure water labelled as covid19 vaccine.

    Suddenly you hear nothing of the once much publicize investigations on the vaccine theft. The masses of this God-forsaken country just moves on and forgets about it completely as if it never occurred in the first place.

    Just, then your banana republic is about to go to the elections towards the end of 2021 or in 2022. Your local and national political animal seizes the moment of the vaccine, offering them like Holy Water in weekend medical camps which end up to be political rallies to entice you to vote for them; and because you are gullible and fickle like them all, you gladly swallow the lies and  you line up in torturous heat or drenching rain from Eight in the morning to Five in the evening to vote the same thieves back into office, to repeat the same cycle of lies, theft and deceit one more time as you curse them.

    ***

    Merry Christmas to you all from Cane Cutter.

    Twitter: @CaneCutter2

  • Dangote to Buy back 85million Issued Shares Of the Company.

    Dangote Cement Plc has announced the commencement of its share buy-back programme, under the approval granted by the Company’s shareholders at the Extraordinary General Meeting of DCP, held on 21 January 2020.

    This announcement was made in a notification issued this morning, the 21 December, before the opening of the stock market. This is also the first share buyback in Nigeria’s stock market history, according to Nairametrics checks.

    According to the notification, the Share Buy-Back Programme is in line with the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s (“SEC”) Rules and Regulations (as applicable) and in accordance with Rule 13.18 of the Rulebook of the Nigerian Stock Exchange (“The NSE”).

    Key highlights from the notification
    Based on the aforementioned shareholders’ approval, the number of shares to be repurchased under the Share Buy-Back Programme will not exceed 10% of DCP’s issued capital.
    The Programme will be effected in tranches, as the first tranche under the Company’s share buy-back programme will commence on the 30th of December 2020, and will be completed on the 31st of December 2020.

    During this period, the approved brokers of the company would purchase up to 85,202,537 fully paid-up ordinary shares of 50 Kobo each, representing 0.5% of the entire current issued shares of 17,040,507,404 ordinary shares.
    The first tranche under the Company’s Share Buy-Back Programme will be executed by Meristem Stockbrokers Limited and Vetiva Securities Limited, the appointed stockbrokers of the Company under the programme. The stockbrokers will at their discretion purchase DCP shares in the open market between 30th and 31st December, subject to prevailing market conditions and under the current daily trading rules of the NSE.

    The shares being bought back by the Company under the Share Buy-Back Programme will be held as treasury shares, and may subsequently be cancelled. Execution of this Tranche I is not expected to have any material impact on the Company’s financial position.

    What you should know
    Nairametrics reported a year ago that the Board of Directors of Dangote Cement Plc announced it would convene an extra-ordinary general meeting (EGM) of shareholders for January 22, 2020, in a bid to obtain shareholders’ approval to amend its Articles of Association, which would enable the Company to undertake a share buy-back of up to 10 percent of its issued shares, in line with the concluded arrangement.

    What to expect
    Shareholders seeking to participate in the first Tranche under the Share BuyBack Programme are hereby advised to contact their stockbrokers or any other independent professional adviser registered as a capital market operator by the SEC for further guidance on the submission of trades.
    Dangote Cement will provide weekly updates on the progress of the First Tranche of the Programme on its website over the duration of this tranche.

    However, the Company will continue to monitor the evolving business environment and market conditions, in making decisions on further tranches of the Share Buy-Back Programme.
    Upon the completion of this programme, an announcement will be published on the website of the company and issued on the website of the Nigerian Stock Exchange, in line with the exchange and the company’s policy on full disclosure.

    By Omokolade Ajayi @Nairametrics

  • SEC, FSD Africa begins Review of Capital Market Masterplan

    The Securities and Exchange Commission, Nigeria (SEC Nigeria) and Financial Sector Deepening (FSD) Africa have announced the commencement of a joint review of Nigeria’s 10-year Capital Markets Master Plan (CMMP) in line with current realities. This is aimed at supporting the country’s economic growth amid the devastating effect of the COVID-19 crisis and fallen oil prices.

    The synergy would enable SEC Nigeria to work with FSD Africa’s regulator support programme to develop a revised 10-year CMMP to strengthen Nigeria’s capital market and its capacity to mobilise funds. The CMMP provides a vision for Nigeria’s capital market, as well as a roadmap with objectives to meet it.

    According to the Commission, the process will involve an assessment of progress made since the plan’s implementation to date and engagement with stakeholders for input.

    This would also result in the introduction of more stringent tools to measure the plan’s progress against objectives and the inclusion of new challenges, opportunities and risks related to the current environment into the plan.

    SEC explained that the review of the CMMP is in response to changes in the economic realities upon which the plan was anchored when it was launched in 2015.

    The Director Capital Markets at FSD Africa, Evans Osano said: “This review will give market stakeholders in Nigeria a unique opportunity to not only take stock of the plan’s results so far but also grow and respond to previously unforeseen economic developments.

    “As FSD Africa works to support and regulate financial markets in Sub-Saharan Africa, we are excited to be partnering with SEC Nigeria to enable them to strengthen the country’s capital markets during a time of immense upheaval.”

    Director-General of the SEC, Lamido Yuguda said the implementation of the CMMP would deepen and improve the capital market’s contribution to the nation’s economy.

    By Helen Orji @The Guardian

  • The Stages of Man’s Financial Life

    The Stages of Man’s Financial Life

    Life is not fair to anyone. What man amases from life is a product of his determination and resolve. This informs the chasm between the rich and the poor. Nobody is born rich or poor. What we give to life is what life throws at us. Specifically speaking, some individuals, especially at old age, do experience poverty. Why and how does this happen to them. In simple terms, the manner in which they handle all-important stages of their human existence immensely contributes to the excruciating financial conditions.

    Human life contains three cardinal phases: early, middle and late. The early is the determining stage, which is called learning phase. This stage of life is the bedrock of man’s financial life. It is the stage characterized by freshness, vigour, acquisition of ideas and knowledge as well as skills. A stage when man goes to school to acquire knowledge and skills that enable him to be fit in the society where he lives in and respected among peers and mates. By virtue of the acquired experiences, man either secures a paid job or starts a personal business. In some cases, a combination of both is not impossible to be possessed by man.

    Middle stage, otherwise known as earning phase is a juncture when man translates all the knowledge and prowess acquired in learning stage into pecuniary gains. This is usually made possible through salary or wage collection, known as renumeration, or profit making. The relationship between man and money is a decider of destiny in this regard. If money is wiser than man, a challenge emanates, but if man is wiser, financial security, financial freedom and financial stability will be guaranteed to the maximum. This is because a solid financial base must have been built through circumspect spending, meticulous strategic savings and investment portfolios.

    The last stage is the yearning stage, which is in sharp contrast to the first one. It is the opposite of stage one, because it is featured with debilitating state, inactive and ineffective services rendered. This is a result of ‘wear and tear’ phenomenon. Retirement from active service takes place at this point. Man might be without any jobs. However, if man is jobless, it is an indicator that he has no investment portfolio whereas if he is business-inclined, he must have definitely appropriated business strategies and ideas acquired over the years. In order to ‘retire’ his retirement, he keeps the business going and money continues to work for him on this note. On the other hand, man who has no business investment portfolios might be confronted with poverty – stricken situations such as begging and dependence on others for survival. Embarrassment of old age may be inevitable. This can be avoided though.

  • Searching For A Business Mentor

    A mentor plays an important role in the success story of every individual on earth. In today’s world, a mentor is being described as a person with a high level of business qualities, and an expert who oversees, trains, and guides young or entrepreneurs from the conception of their business ideas and growth. Your chances of success in life and business can be amplified by having the right mentor
    This article proposes a conceptual model for mentors and discusses a few resources on how to find mentors and reasons why entrepreneurs need mentoring support by the type of business, decision-making style, and phase at which they are at that moment.
    Mentoring is quite different from other related forms of discrete supports such as teaching and coaching, the mentor puts the young entrepreneur’s interests as a complete priority and has to understand that his main role is to be dependable, engaged, and tuned into the needs of the entrepreneur.
    Here are a few resources to get you started on the path to finding a mentor:
    ACE MENTOR PROGRAM: engages, excites, and enlightens high school students to pursue careers in the construction and engineering industries through mentoring and support.
    SCORE MENTORING: fosters vibrant small business owners and entrepreneurs through mentoring and education SC0RE has helped over 11 million entrepreneurs since 1964.
    IS HAVING A MENTOR RECOMENDED IN THE BUSINESS WORLD?
    Sadly, not every entrepreneur realizes the potential benefits of having a mentor in his life. They believe that they can succeed without mentors and while it is indeed possible in the business world without relying on a mentor, it is unnecessarily complicated as he will have to endure the consequences of his failure alone which poses a high level of negative impact on his productivity.
    Life without a mentor is much harder work. A mentor has been where you are, has seen the struggles you face, and most importantly, they have survived and thrived. Yet a woeful number of entrepreneurs start their business careers without one.
    While arguments abound on why entrepreneurs do not need mentors but should only follow their instincts, most successful business moguls had mentors. For example, the late Apple founder Steve Jobs served as a mentor to Facebook’s Mark Zuckerberg. The late Bill Campbell, the silicon valley coach mentored Steve jobs and Larry page.
    Here are 5 reasons why having a mentor is important.
    1.MENTOSHIP INCREASES BUSINESS SUCCESS RATE.
    Research and surveys have proven beyond doubt that having a mentor is important to success. The valuable connections, timely advice, occasional checks together with spiritual and moral guidance provided by a mentor will leapfrog you into success
    MENTORS SHINE A MIRROR ON YOU
    The worst person to see your faults is you. When you run your business this is deeply perilous. Your staff can’t tell you what’s wrong with you so you need a great mentor who is aligned with your best interests and guides your future development.
    A MENTOR GIVES REASSURANCE
    It has been proven by numerous research that a quality mentor-ship has powerful positive effects on young entrepreneurs. Having someone who practically guides and share your worries with you, someone who often placates your fears with their years of experience and gives you a high level of reassurance that you will be successful.
    MENTORS OFFER ENCOURAGEMENT AND GUIDANCE
    Anxiety, fear, and sadness erupted by a failed business cause setbacks on an entrepreneur’s productivity. Therefore every mentor must offer encouragement and guidance to young entrepreneurs during hard times.
    NETWORK OPPORTUNITIES
    A successful mentor has an unlimited network of people who can benefit young entrepreneurs to live. Since they have invested in your ideas and careers, it only makes sense for them to let you tap into their network of people when the need arises since their main aim is to complement and not to compete with you. This is an opportunity you cannot tap into if you do not have a mentor.
    WHAT TO LOOK FOR IN A MENTOR
    Everyone needs a mentor. So what do we look for in a mentor?
    As a young entrepreneur, securing a mentor for oneself might seem a little difficult and tasking, as not every business mogul has the characteristics of a good mentor.
    I recommend that you choose someone with the right skills and experience. Experience is a very expensive asset yet it is crucial to business success. Choose a mentor who will help you to be the best you can be, a mentor who is not afraid of your success or threatened by them.

  • Build Your Brand

    Ways in building a business brand Effectively
    A brand is a guarantee of a specific encounter that has been created through the aggregate of different elements including the logo, slogan and the brand personality. Your brand is the manner by which individuals perceive you at whatever point they associate with your business which includes the impressions you can control and the ones you cant.
    At the point its been put into consideration, people possess individual brands as well unique names, a face , an identity, a style and with all these qualities, we establish various connections with different individuals. Similarly business have names, products, logo, colors, text styles ,voices and notoriety that make up what they are and influences how they are seen.
    Your brand ought to be at the focal point of your business, simultaneously influencing and at the same time mirroring the entirety of all your actions and decisions.
    Brand Building
    Truly branding is one of the most remarkable ways a business can differentiate itself, its products or administrations from its rivals. Not exclusively will a solid brand cause clients to pay attention, however it will permit its rivals, build customers loyalty, drive sales and accelerate products differently in the market.
    As businesses turn progressively threatening, obviously solid brand-building aptitudes are needed for survival and prosperity. Successful business personnels have found the importance of branding as a strategic assets and an organization essential wellspring of competitive advantage.
    A brand isn’t only a conspicuous name and logo that distinguishes you in a crowded market, its your professional services firm’s most valuable assets. If this is valid , then building up a more standard and stronger brand is the most significant task.
    Building your own brand essential boils down to five steps
    >> Research your target audience and your rivals/competitors.
    >> Pick your concentration and personality.
    >> Compose your trademark.
    >> Choose your business name.
    >> Apply your branding across your business.
    Brand development defined: This can simply be explained as the process of creating, reinforcing your professional services brand which is best understood as your firm’s reputation and its visibility in the market place as reputation X visibility of your brand and as well as its relevancy to the target client audience.
    A strong well differentiated brand will make firm’s growth much easier. You cannot develop a brand without being reliable and maintaining that level of consistency as you extend your brand to all aspects of the business is very mandatory.

    How to create a brand
    Brand creation is an aspect of business and economy development that requires team of intellectuals passionate about change and value creation. Below are the steps necessary in brand creation;
    Specialty creation: This is the initial step required in brand creation; it assists with management and fills in as a compass in brand situating. It assists with intensifying brand personality. Niche creation is just discovering specialization in a specific industry. Footwear creation, style planning, adornments promoting and others are altogether branches. In the fashion business ,specialty creation requests that a brand represents considerable authority in one significant part of this branches. It isn’t prudent for a brand to serve the market from all branches.
    Brand situating: This viewpoint can be best characterized when a brand analyzes the market it serves, it is significant for a brand to know the purchaser of her items and their recognition, this will assist the brand with working better on the worth it serves her clients and how to situate itself in the market for clients to get to. It is significant for a brand to recognize what clients are anticipating from it.
    Advertising and sourcing of materials : This is a critical aspect in brand creation, a brand must be prepared to serve clients/customer with no type of dissatisfaction or disappointment. Marketing is basically grabbing of audience, a successful marketing campaign is only achieved when the attention of audiences are grabbed. Brands ought to deliberately work on getting their products before clients.

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