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‘Entrepreneurship can come out of necessity or innovation’ – Kolawole Olajide

Entrepreuneurship is gaining more traction across the African continent as more and more youth are looking to start their own business.  Kolawole Olajide is the co-founder of BridgeLabs, his third entrepreneurial project that was founded from his interest in building high-quality technology products designed to enable forward-thinking organizations to compete and perform in the 21st century. Olajide spoke to The Africa Report about entrepreneurship on the continent, and how the coronavirus pandemic has affected entrepreneurship, and BridgeLabs specifically. Parts of this interview have been edited for length. The Africa Report: In Nigeria, more than half of the youth don’t have enough work or none at all. Entrepreneurship seems to be among...

Opinion: The Open Secret to Reopening the Economy

Anne O. Krueger argues that areas that eased their initial COVID-19 lockdowns and now have surging infection rates are a testament to all that has gone wrong in the pandemic. The lesson from day one still holds: until the virus is defeated, there can be no return to normal. The future of the world economy is becoming clearer. At the outset of the pandemic, there were lively disagreements over whether the lockdown and other measures were warranted, or whether the economic costs were too high. Now, it is increasingly evident that economic activity will resume fully only after lockdown restrictions have been given time to work. Otherwise, COVID-19 will continue...

Emerging Opportunities In Growth Sectors Amid Covid-19 Crises

With the Covid-19 pandemic pushing the global economy (Nigeria inclusive) to record decline, creativity and innovation in goods and services have become very imperative and necessary, perhaps the competitive advantage factor. Opportunities for productivity and economic optimization abound in sectors like healthcare, agriculture and food, manufacturing, ICT amongst others. The success or otherwise of Nigeria at this critical period will depend to a large extent on our ability to leverage on creativity and innovation to build a competitive economy and promote import substitution moving forward. According to the recently released Nigeria Economic Sustainability Plan (NESP) for 2020 titled “Bouncing Back”, the government seeks to foster...

Legal Representation during Contract Negotiation: ‘’An African SME perspective”

By Olufemi O. Obudu LL.B (Hons), B.L, LL.M, ACIArb Legal Representation during Contract Negotiation - "A requisite need or avoidable want?" Entrepreneurs and businessmen alike have a crucial and pivotal role in the unemployment and collective required economic output crisis in Africa. Securing investment and funding to facilitate growth and economic impetus thus lies heavily in the minds of businessmen. The challenges of creating the right business plan, a realistic budget to gain traction and identifying adequate potential investors can sometimes be such a daunting process, and creates an avenue to be blindsided without proper guidance, representation or advice. The role of legal representation during contract negotiations...

PROFILE: Olufemi O. Obudu

About Femi Femi is currently a senior contract negotiator with Gazprom Energy, the UK’s leading business gas supplier. With over 10 years’ experience in the industry, his primary role is to produce a strategic approach in ensuring all negotiation tenders are proactively managed for both Gas and Power retention, enabling the successful and profitable expansion of the Gazprom Energy Mid-market business. Educational Background Femi has a background in Oil and Gas law. After an undergraduate degree in law from the University of Lagos, Nigeria, he obtained his Master’s degree in Oil and Gas from the University of Aberdeen in the United Kingdom. “GetFundedAfrica is a technology-based, business information platform operated...

Making Finance Work For Agriculture in Africa [Part 2]

Recap A continuation from last weekend's article which discussed 'Agriculture In Africa'. Some of the key points described include - agriculture as a wealth sector in Africa, agricultural imports and exports, agriculture’s contribution to employment in Africa and unlocking agriculture value chains in part 1 (Read HERE) This week focuses on: GetFundedAfrica’s role in tracking Africa’s recent Agricultural Development Case Studies Understanding GFATracking and data capturing Conclusion Case Studies In the past, we profiled some institutional investors in Africa's space HERE, analysed significant investments such as Twiga & Grainpulse and featured the continent's outlook HERE For this section we look at snaphosts of others sources for agricultural sector...

Making Finance Work For Agriculture in Africa [Part 1]

IntroductionAgriculture as a wealth sectorAgricultural imports and exportsAgriculture’s contribution to employment in AfricaUnlocking agriculture value chainsTaobao Villages?The profile of a typical e-commerce shop ownerWhere to go from here Introduction On Tuesday 9th, June 2020, Co-Founder of GetFundedAfrica (GFA Capital) - Debo Omololu, participated as a Guest Panelist at the Agric Investment Summit alongside Onyeka Akuma (CEO FarmCrowdy). These types of corporate events now hold particular significance when we consider recent developments in the global economic landscape, with the almost default shift in focus to "other" sectors such as Agriculture, because of the plunge experienced by the Oil Industry. The Agric Investment Summit , focused on areas such as...

New Report Ranks South Africa, Kenya and Rwanda As Africa ’s Top Startup Ecosystems

Although much of Africa ’s fundraising has gone to Nigeria in the past two years, a new report by the India-based global startup data firm, StartupBlink, code-named StartupBlink Ecosystem Rankings Report has ranked South Africa, Kenya and Rwanda as the continent’s top startup ecosystems.  According to the report, globally the US has maintained a substantial ranking gap from all other countries, the big four also includes the UK, Israel, and Canada. The only change that differs from 2019 in the Big 4 is between Israel (3rd) and Canada (4th).According to the report also, the highest placed country new to the top 100 is Taiwan, ranking 30th; an impressive...

Latest Report shows African regulators are holding back growth of cryptocurrency on continent

While the rapid adoption of cryptocurrencies may be likely in Africa — given the continent’s high inflation rates, volatile currencies and underdeveloped banking — regulators are holding back its growth, a new report has found. The State of Crypto: Africa report, released last week by SA founded cryptocurrency platform Luno in conjunction with Norwegian research organisation Arcane Research, reveals that the legality of Bitcoin and other crypto assets varies significantly across the region, with over 60% of African governments yet to clarify their position. “While some nations maintain a positive stance, multiple counties have issued complete or partial bans. For whatever reason, North African countries have taken the most hostile...

The impact of Covid-19 pandemic on Oil and Gas Projects in Nigeria

Introduction COVID19, first discovered in Wuhan City, Hubei Province of China in December 2019, has now become a global pandemic as declared by WHO. Statistics indicated that as at 23rd of May, 2020, a total of 5,061,476 cases have been confirmed with 254,045 deaths worldwide. Unfortunately it is the same story in Nigeria with 7,261 confirmed cases and 221 deaths. The economic impact of COVID-19 may result in the suspension of key oil and gas projects running into millions of Dollars, which invariably would have a significant effect on the Nigerian economy. Oil and Gas Projects impacted by Covid -19 Governments’ reaction to curtailing the spread of COVID-19 via...

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