₦airaland Forum

tomakint: @ OP, your perspicuous analyses on this topical issue of 'gender balance' portrays you a brilliant scholar that really master this topic with a class! First thing first, while I respect the female gender to a large and most times to an unbearable extent, I have come to discover that the term 'gender balance' being propagated by decision bodies and think tanks worldwide is nothing but a flawed doctrine because a man is distinctly different from a woman! Morphologically, intellectually, emotionally, radically, socially, spiritually and in creativity, if you pile these factors together and put them on a scale, men still towers above women in all spheres, this is not a means to pick on the female genders but just stating my own candid opinion! I love women because they make the world go round!

Thanks for your insights and candid opinion Tomakint. On a side note, both sexes tower above each other in different settings, activity or strength. so we men don't tower above women in all Spheres but we instead compliment each other.

talk2hb1: Very encouraging, but wait a minute I have some few question for you.
1.What is your aim of building the application?
2.Are you just trying to fill a gap or build a software company?
3. Is it because of the money or the passion of doing it?
The reason I am asking these questions are, from what I have read above its like you just want to build or develop something you have a dream for, you want your dream to come true. Dream-reality is different from the mindset of software entrepreneurship mindset.
I don't want to build a crappy product: nobody loves a crappy product even the product developer, why not chunk your product into version with version 1.0 having all the must have features and version 2.0 having the should have features, these are just my own suggestion and not an advie.

1. To change the lives of millions hopefully billions of people.
2. I am not trying yo fill a gap, but have discovered a need in my target market. I intend to build a consumer technology company.
3. Not the money, but red hot passion to contribute my own quota in changing the lives of Nigerians first and the world at large.

Yes I agree with you version one will not have all the features. I have thought about that already.

talk2D: Talk is cheap.
The application of knowledge is power.
Tell a trusted friend who you think can relate with your idea.
Start with the smallest step possible like writing the first line of your code.
Don't take too long to release or you will realize you have wasted time.
Take Action Man!
And also, the idea of people stealing your idea kills.

I agree with you talk is cheap, If you read my article you''ll discover am not folding my hands but taking steps to achieve the vision.

I don't intend to take too long, but I will take my time and make sure I don't come out with a crappy product. Plus I have a futuristic way of developing products.

As for people stealing my idea that's the least of my worries, an excerpt from my post has this to say.

"Most founders are afraid of their ideas been stolen, they guard them with diligence, most of them on meeting investors request them to sign a non- disclosure document all in the bid to protect their idea, something investors truly hate, in fact they hardly agree to sign one.

My first fear when I started out was, please God let not my idea be stolen, I was very careful and guess what, it was stolen on 5 different occasions in my 5 failures.

But amidst all this I still stand because I have come to understand that "YOUR IDEA CAN BE STOLEN, BUT YOUR VISION CAN'T". No one can see what you see, it is yours, you own it."

hisblud: Thats the spirit... i think am about to enter my valley of death... downloading java,sdk and eclipse ... and this piece by the above writer is really inspiring and encouraging...thanks

GideonG: I am a very passionate Android developer working round the clock almost all the time, I am greatly inspired by your write up. we are on the same lane because I see my mobile App taking over the entire country and the whole world will benefit from my idea. I have no element of doubt in my mind that I will make it big time as a developer. I am working so hard with intense desire.I strongly believe it...follow me on twitter @GideonGeorge
Thanks for that bro God go make you bigger

from this responses I am glad this article is achieveing it's aim. Which is to encourage people presently in the valley or about entering the valley... thank for your heart warming response.

...

soccerinfo9ja: Your opinion makes no reasonable sense. Why? Well my answer is simple and brief. Those girls in question were never forced to shake their yansh in any music video they intentionally made up their minds to feature in a "supastar" video for what so ever reason best known to them. So dont write an article that makes guys look bad , we (guys) have done nothing wrong we decided to make music and a bunch of girls came and decided to shake their yansh nobody forced any body you girls are the soul architect of your own degradation. Bye.

Seconded

NeoTesla: If a feminist is someone who demands equal rights, equal representation and equal opportunity, then the word should not only be left in the dictionary, but should also be celebrated. However, the feminists I know demand something more: equal representation. That is just as devious as it is silly because it insidiously sanctions the use of quota at the expense of merit. What is wrong if the most competent people are placed in positions they are fit for be they male or female? Feminism as it stands today, with its insane weapon - political correctness, are simply symptoms of a world going crazy.

Quite true.

I was opportune to be a resource person at an IT lecture for young ladies. In preparing for this lecture I stumbled across articles publications that bother around gender equality, feminisms, sexisms etc.

It was my first time in a female only gathering, it turned out to be It an eye opener, I got to see the world from their perspective for a little while, I saw their strength, intelligence and essences in full display.

I have came to the conclusion that the female gender has a lot to offer if given the opportunity they truly deserve.

After this experience I left with the following questions: How can they fight for this opportunity and How should they manage it.

While pondering I came up with the following conclusions, observation and hard truths. Truths that challenges the some deep rooted ideologies that is already in existence. Which I believe need to be tackled if they are excel in their battle for equal rights.



1. Men and Women are not equals:- Most feminist I encounter are well versed about gender equality and they argue that men and women are equal, especially when it comes to intelligence and given that we are in a dispensation where what decides superiority is no longer physical strength but intelligence.

They believe based on this, they should be given equal opportunity, privilege and standing with men. The propagation of this premise has been a major hindrance to the snail like success of gender equality.

It is to be noted, that for two things to be equal they most share the same characteristics. Therefore this premise holds no water because of the wide difference in the biological make up and type of intelligence exhibited by both genders.

I think a better premise should be "Yes Men and Women are different but are both humans and as such women are entitled to their fundamental human rights, therefore should receive equal treatment unless there is a sound biological reason for a different treatment". This is what true Gender equality proposes … "excerpts from Wikipedia".

But on a closer look, this definition harbors a clause which is "unless there is a sound biological reason for a different treatment". This in my perspective has been the major bone of contention from both sides.

Because in what scenario or occurrences should females be given unequal treatment due to a biological reasons.

Now it is left women to engage intelligently with the world why there is no biological reason why they should be treated in certain manner in a given scenario, and fight against policies from this perspective instead of fighting their cause with false ideologies such as "Men and women are equal , What a man can do a woman can do better, Women more are intelligent that men", type of arguments, in general ideologies that have a an aggressive undertone. This leads me to my next truth



2. It's a Man's world… Deal with it:- During my lecture I bluntly told the women this truth. and I was met with angry stares , but this is not far from the truth. The world is controlled by men, they decide policies, and cultural tenets are mostly influenced by them. They dictate what "beautiful and sexy is", women constantly seek their approval in regards to their body and identity , This is something that has been going on for ages even before you were born.

And the truth is that there is little you can do.

Note that doesn't mean you can't do anything, But it simply means it really going to be tougher for you as a female when compared to your male counterpart. This understanding is necessary because it prevents you from seeing every man as the problem, instead you now see the system and the societal order as the problem, with this knowledge you now know which battles to fight, how to fight them and who to fight. Now talking about how to fight it, leads me to my third observation.



3. [size=15pt]The Word "Feminist" needs to be deleted from your dictionary if you really want to be heard more easily[/size] :- I get it a feminist means "one who advocates for equal social, political and all other rights of women as equal to those of men.

This definition on its own, is a good one. But over the years this word has had a negative connotation, I think this is because of the way some women in the past went about to advocate for equal rights. The Average man on hearing the word "feminist" see you as the enemy , who is out to attack his place as man in his world, a woman who wants to emasculate him, instead of a woman who is demanding she be treated fairly and equally.

The word "feminist" subconsciously in the mind of a man is synonymous to rebellion, stubbornness, a Man hater and in extreme cases a "woman who has excessive male genes and hates being a woman". Given the negative connotation it is becoming increasingly difficult for most women to fight for their right under this name or brand. Because of the invincible mental barrier that is immediately put up in the mind of a man when this word is mentioned.

I think the world "feminist" should be replaced with "modern woman" or "Woman Activist" or something cooler "Because the way you are perceived is the way you will be addressed." This leads me to my next truth.


4. A "Modern educated woman" is not synonymous to bitchy, stubborn, aggressive, overbearing controlling, and domineering:-

A trend I have discovered lately is that majority of women who are presently enjoying the freedom and opportunity that was fought for in blood and tears by women of old, is that they are presently abusing this freedom due to a myopic mindset and there ungrounded understanding of gender equality. They tend to see every contact with man as a battle for superiority, and they find joy in emasculating men, they can go to any length to try to prove an unnecessary point, just to prove that they are strong. This has lead to high divorce rates, and the slow progress rate, gender equality has experienced in the past 20 years and a host of other ills.

Such women are rarely taking seriously in the society, especially by their male counterparts.

"The truth is that no Gender is superior to the other, or inferior to the other, but instead they complement each other" Until both genders understand this. We'll keep fighting the wrong battles and getting no results.

This truth can make her understand that the reason a man is called head of the home is not to make you as a woman feel inferior but because he is well suited physical and mentally for this role given Our Present society, she will therefore look for ways to support him in his role instead of trying to contended with him,

Also the man gets to understand that even tho he is the head, his wife is partner and closest aide not a slave or punching bag and therefore should be treated with love, care and respect.

Also that a woman been your boss or president doesn't emasculate your as a man, because for here to be there she has proved with out doubt she got what it takes to rule.

I think a "Modern educated woman" is a woman who loves being a woman, believes her femininity is an asset, she is educated and know her right as a woman, and she fights for this rights respectfully, fairly and diplomatically.


On a final Note: Treat Men with respect they respond to it more. You don't have to be aggressive to get heard, diplomacy should be your best friend. Approach men with sound logic they respond to that more than emotions or guilt. Never directly threaten or question a man authority or attack his ego, instead try to make him understand where you are coming from.

Disclaimer: Solely my opinion and not a true representation of the entire male population and I stand to be corrected.

Do share your thoughts below, feel free to correct any misconception Cheers.

#Matthew Briggs

dansmog++:
steve jobs..@mathew And please check this link out, same question but in hackers news https://news.ycombinator.com/item?id=46024

Thanks man I checked it and it reinforced your premise quite well. Learnt a lot from it. Thanks for the moral support.

Dansmog++

Thanks for your input. I Really appreciate it. Item I-4 is sorted out, I have a very cool and detailed mockup on Ground, a detailed business plan, A very strong grasp of what I want and The Required Skill sets I Want On my Team. Will proceed with your second suggestion.

Thanks man.

GraphicsPlus: Guy, if the idea requires coding, you MUST learn some coding or it will not fly.
Go and ask Zukerberg and Seun.

I hundred percent disagree with this statement. It will fly, all I need is the right team.

GraphicsPlus: if it`s an idea that requires coding, you MUST go and learn coding first.

spikes C: it is a lie, a big one. I've worked on a startup where the owner doesn't know what is a variable. We still got along all fine

Thanks spikes For your Moral support. @graphic plus. Tried to learn how to code but discovered that am not very passionate about it. So i didn't Bother learning it Because without passion i can never be very good at it so i have focused my energy on developing my strengths in user interface design and user experience design. Moreover I believe in synergy of skill sets, specialization, and team work.

Like Jeff bezos says : Jeff Bezos:
Chairman and CEO of Amazon
“One of the huge mistakes people make is that they try to force an interest on themselves. You don’t choose your passions; your passions choose you.” ~ from the 2013 book Shortcut to Prosperity: 10 Entrepreneurial Habits and a Roadmap for an Exceptional Career.

LeBlack: Hope this helps... http://www.youngentrepreneur.com/startingup/leadership-qualities-skills/6-tips-for-building-a-strong-founding-team/

Thanks leblack for the info.

Every career is worthy.
If you have passion, the right skill, and a well thought out strategy.
Even a shoe-maker can build a billion dollar empire if he's got the above.

You need to work on building a stronger business network.

spikes C: How do I go about it?


How do I know the right people?
From there inputs, suggestions and ideas.


As a top developer/designer what do you look out for in a founder before you join his team.
Passion, profitability, my interest, the idea itself.

What is your preferred numeration. Stock options or cash?
Both (Always)
I consider the short and the long run

Thanks Man for your input.

Hello web-masters, designers, database managers and coders extraordinaire. I am just a guy with an idea for a product, I have spent quite a while developing the ideas that power this product. I have no coding background, but an awesome design sense. I want to put together a very strong team to execute this Idea. Please I need your input in regards to

How do I go about it?
How do I know the right people?
As a top developer/designer what do you look out for in a founder before you join his team.
What is your preferred numeration. Stock options or cash?

Thanks for your comments and inputs in advance
#Mathew Briggs

As person I prefer Entrepreneurial women to career women.
This maybe because my mom is an entrepreneurial woman at the same time a loving mother and a supportive wife. As they say most men marry women that reminds them of their mother.

Or the fact that I think they are the best of both worlds, they are smart, intelligent, resourceful, goal and result oriented, very independent and the can still have time for the home, given that they are their own boss, they therefore own their time. If such a woman truly loves you be sure it's not for your money but because she truly loves you as a person.

Or the fact that me as person I prefer to create jobs than to have one. The idea that someone own my time pisses me off big time, turned down quite a number of job offer to build by own Company. This therefore makes entrepreneurship a very sexy attribute I see in a woman, as the saying goes, like minds attract.

This is solely my preference and my opinion. Share yours.

In summary I distaste the Master / Slave relationship format (not be be mistaken wit provider/housewife) that our fathers practised, I think it's barbaric, and I for one wouldn't wish my sister to be involved in that form of a relationship. Men who thrive in this kind of relationship to me have low self esteem, and are selfish.

Moreover women who go ahead and abuse this new found freedom, seeing their men as head on equals instead of as partners with one as the captain of the ship and the other as vice captain, chooses to take career first instead of family, sees every man as the enemy and pounces on every available opportunity to insult men in general or her man in particular,,
maybe due to her negative past relationships or one who Loves to engage in power tussle with her man instead working together as one. Is doing so at her own peril.


Gender equality has come to stay, but my plea to women as they experience this new found freedom that is gradually unfolding to them. should learn, from the failures of their female counterpart in the western world, and never for anything forget that their first responsibility is that of a mother and wife. Their basic responsibility of grooming our future generation should never be neglected in expenses of their career.

Disclaimer: Solely my opinion and not a true representation of the entire male population and I am open to correction. This is in no way targeted to a group of people.

I prefer a balance. But if I am to choose just one I will go for beauty. I want my want eyes to always have an intelligent conversation whenever I come back home. Plus I can make her intelligent to some extent by grooming her. But I can"t make an ugly woman beautiful.

esere826: @OP
A quite 'normal looking' Phd gal was trying to cossy up to me once
I held her palm in mine
it was extremely coarse against mine
wen i imagine her hand ontop of my gentlman

no one told me to pick race

Looooool I can imagine

[size=15pt]Guys please can I get naruto From any of you. I am based in Abuja[/size].

Thank you guys for the moral support. I promised to give you guys feed back as to how it went. So here it is.

I took it slow I never proposed a relationship, or told her how i felt instead, I Tried to get to know her the more, and allowed her to get to know me. But alas I discovered my feelings for her gradually faded and I discovered we are better off as friends. She's left the country and I wish her the best and pray she finds the right person for her, we still keep touch tho.

I am glad for this experience, It has built my emotional intelligence a little. I have also discovered that love doesn't make you weak but instead stronger, yes it can leave me vulnerable but it's worth it. And that even though I have set standards, I should never let it get In the way if deep down I know she Is the one.

Thanks guys. You're the best
Matthew Briggs

...

adconline: So if the woman asked u to name one thing that made u fall in love, what would that be?

I will tell her the qualities I see in her, that I love about her, Because that's what she wants to hear. But deep down I know that that's not the main reason, because there thousands of women with same qualities and I never fell for them. Love is a force I can't explain, no matter how we try it remains a mystery.

adconline: Romantic love is the most selfish thing. Love is in consideration for something......its not free and never will be.You can only love that person if he/she has most of the qualities you are looking for. It's like marketing..3ps. place, price, product. All these things must fall in place before a buyer pays,so is romantic love. most of the desirable traits must fall in place before we can settle. This we do in order to protect our selfish interest. So falling in love involves protecting one's interests; expanding those interests and gaining more ground. Falling in love has never been altruistic, it's like using what you have to get what you would not have gotten if you were to be alone.

The above is lust not love. Love is selfless. I have once fallen in real love with someone who didn't have the qualities I wanted in a woman, I fell in love with, who she was not what I wanted from her. also I have friends who have the qualities I want in my ideal woman, but I am not attracted to them talk less of falling in love. In my opinion this qualities increase the probability of you liking or fancying someone but not a sure bet to induce love.

Black face...needs to re-brand himself, first by changing his name becos that name has Subconsciously been tied to failure, he needs a good manager and publicist, with that he should go back and find him-self again, build his character, sharpen his skills and blow our minds with an album that can boast of at least 3 hits. He should forget about the glory of the past, and fully embrace the present, with a strong resolve and a well thought Out strategy I strongly belief he can stage a come back.

This article by Michelle Atagana originally appeared on Ventureburn, a VC4Africa publishing partner.

Entrepreneurs In Africa: Forget Innovation, Focus On Profitability


Let’s forget building the next Facebook, Google or Apple, writes Michelle Atagana. Instead African entrepreneurs should build “boring companies” that simply make money and provide useful services. “Wouldn’t that crazy idea work and wouldn’t that profitability attract foreign investment?”…

You will be hard pressed to find anyone in Africa who doesn’t agree that a wave of something big and game-changing is coming. In fact, the way the world is turning, it’s a school of thought that seems to be a soaring fire bird — it is starting to feel like everyone is thinking it.

Innovation is the key energiser. Having leapfrogged with wicked-smart and insanely useful mobile solutions, it seems the continent has no choice but to build the next big thing. So I keep hearing. So much so that innovation has become quite formulaic with rules as strict as a limerick or sonnet: find a problem, build an app to solve it, develop for smartphone and add social integration.

The tech ecosystem is slowly setting itself up as a playground for mavericks, dropouts and quick-talking 20-somethings just itching to change the world. The current atmosphere suggests fresh possibilities for a continent desperate to prove itself as an innovation and entrepreneurial destination. But is innovating more important than a real, solid business model?

All of the bright-eyed tech savvy, buzzword-dropping and skill-infused entrepreneurs want investors to take notice. They’re pissed off because foreign investors don’t seem to get it and governments make it doubly hard. Perhaps they have a right to be. Perhaps investors should be pouring their hard-earned cash into the industry — maybe they need to bring their Midas touch and change things.

It’s a growing space. Just ask The Economist:

A booming economy has made a big difference. Over the past ten years real income per person has increased by more than 30%, whereas in the previous 20 years it shrank by nearly 10%. Africa is the world’s fastest-growing continent just now. Over the next decade its GDP is expected to rise by an average of 6% a year, not least thanks to foreign direct investment. FDI has gone from $15-billion in 2002 to $37-billion in 2006 and $46-billion in 2012.

And the good folks at McKinsey & Company have stats for days on why “the continent’s consumer-facing industries are expected to grow by US$400-billion, representing its single-largest business opportunity, by 2020.”

It’s easy to get caught up in Africa’s sexy, trendy and attention-grabbing tech scene. It has the trappings of an intriguing love story, trying to make it in world that refuses to give it a break. It’s easy to want to join in and crusade for it.

Or maybe they shouldn’t…

My first startup pitch event was quite the experience. Eleven startups pitched that day and I couldn’t believe the sheer brilliance that Africa had to offer. The room was filled with anticipation: everyone waiting, nervous entrepreneurs peeked from their corners, masking their nerves with obsessive foot-tapping, nail-biting and deep sighs. Investors watched on like sharks ready to devour the fledgling startups. It was a whole new world. Every company that pitched that day could have robbed me of all my money and it would have been okay with me. Today, I wouldn’t even be bothered to write about one of them let alone advise anyone to invest.

Why? Because I have seen 20 of them pitch, with different PowerPoints, fonts and names, but essentially the same companies, ideas and value proposition. This is not to say Africa has nothing to offer — some great companies have been founded here. As an investment destination, Africa is a good choice. It just gets tiresome to only see the same people over and over: the dark jeans, faded T-shirt, hyped-up-on-caffeine entrepreneurs building the next Google or Facebook in a coffee shop is becoming the staple.

In essence, Africa is turning into one of those places where you’re screwed if you do and screwed if you don’t. The really loud and most talked about startups aren’t actually any good and aren’t doing anything interesting, or actually making money. Invest in those companies and you back mediocrity. Walk away completely and the good companies doing interesting things lose out as do you.

The people doing interesting things don’t talk about it — they play the undercover startup card. Quietly working away not caring for the media circus. They want investment but aren’t visible enough to be noticed on the surface. It’s the perfect catch-22. You have to invest, but finding what to invest in is a challenge. There is a likelihood that this is actually a reasonable approximation of the investment dichotomy in every continent for all I know — though somehow I doubt it.

Some startups on the continent are ruled by a fear of sharing their ideas because they are convinced someone might steal them. Venture capitalists are asked to sign non-disclosure agreements before an idea is pitched to them. Is a continent still guided by such fears ready to play in the world stage? Perhaps most countries have these problems (the Facebook legal dramas are a pertinent US example) but so what? If an entrepreneur is not willing to risk his or her idea for the possibility of success then perhaps an investor shouldn’t risk anything on that entrepreneur or their idea.

Innovation may be the death of us

In Africa there is a lot of pressure to innovate. Many wheeler-dealers, bored of the corporate humdrum, ready to turn an industry on its head, with a basilisk gaze are primed with the perfect quality for entrepreneurship. Good solid businesses become boring, making money is an afterthought and innovation is the watchword. The pressure to innovate is as overwhelming as the burning sun on delicate skin. Investors want you to innovate, mentors advise it and journalists flock to it like moths to a flame. Its appetite is insatiable and most startups are victims of it. Truly, we ought to rename Africa “the place where good companies die of too much innovation”.

A real African game-changer demands passion and some crazy inventiveness. That’s real innovation. That’s not what most African entrepreneurs are doing though. Even when you do encounter that kind of cavalier, risk-taking attitude, investors shy away. A large part of that is because investors on the continent just don’t have the money to take massive gambles.

There is nothing wrong with innovation, but not all business are primed for it. Some of the most successful business are based on old-fashioned business models that offer a unique angle. A simple ecommerce platform will always be successful if you offer people a simple way to shop coupled with decent customer service — just ask kitchen appliance retailer Yuppie Chef. You don’t need bells and whistles or fancy technology, just a good, sensible way of doing business.

The problem of focus comes from the fact that most of these companies are attempting to innovate at the same level as businesses in the mature markets. Entrepreneurs are building their businesses with the wrong audience in mind. It’s a bit of a stretch to pitch a business to an American investor aimed at an American audience that is something of a clone of an existing American company. Why would the investor choose you? The quest for the next big thing is stunting growth on the continent. We can start looking at building the big thing once we’ve figured out how to solve all the small problems around us.

Indulging in crazy what-ifs

Everyone walks around like mavericks but no one really is. Passion is lacking in startups I have seen pitch recently. It’s all about joining the sexy cool kids in the ongoing exclusive party where tech entrepreneurship is glamorised, workaholism is something to boast about and arrogance slowly becomes a familiar coat. There are many Groupon clones out there, but of all the entrepreneurs that started a group-buying business, only one person was actually passionate about it. The rest simply hoped that guy would buy them.

So for one unthinkable moment let’s forget building the next Facebook, Google or Apple. Think about using your vast technical knowledge to for example, solve the simplest problem Africa faces — service delivery. Think of the innovation that would come with that.

What if more entrepreneurs considered bootstrapping their companies, using a host of the many free services out there until they were profitable enough to invest in more infrastructure. Wouldn’t that crazy idea work and wouldn’t that profitability attract foreign investment?

Before the angry mob asks me for my passport back and ousts me out of the continent with nothing but the clothes on my back and my trusty MacBook, think about it for a second. Wouldn’t it be better to build boring companies that simply make money and provide useful services, employ people and watch them grow into juggernauts (think about how well Kalahari.com has served Naspers over the years). We can build companies that will eventually invest in other companies, companies that don’t need foreign investment. Now wouldn’t that be something?

http://vc4africa.biz/blog/2013/04/15/entrepreneurs-in-africa-forget-innovation-focus-on-profitability/

Omidyar Network has released the report “Accelerating Entrepreneurship in Africa”, promising to be one of the most comprehensive studies done on African entrepreneurship to date. Below an abridged version of the report’s section on financing.

The Accelerating Entrepreneurship in Africa report was compiled by the Omidyar Network, the philanthropic foundation established by Pierre Omidyar — the founder of eBay — in partnership with global strategy consulting film, Monitor Group. This epic 48-page report is the result of a three-phase research project launched in 2012 aimed to better understand the state of entrepreneurship in Africa.

The project started with a survey of 582 entrepreneurs across six Sub-Saharan African countries: Ethiopia, Ghana, Kenya, Nigeria, South Africa and Tanzania which was then augmented into 72 in-depth interviews. The second phase invited business, government and thought leaders to the 2012 Entrepreneurship in Africa Summit, held in Accra Ghana, to analyse the survey findings, and offer proposed solutions.

The report presents the findings of the survey, as well as the outcomes and solutions given at the Accra meeting. The report lists financing, skills and talent, and infrastructure as Africa’s greatest challenges. Below an abridged version of the section on financing.

Lack of capital, lack of fundable business plans

The study quotes research by the International Finance Corporation that estimates that up to 84% of small and medium-sized enterprises (SMEs) in Africa are either un-served or underserved, representing a value gap in credit financing of US$140- to 170-billion.

So there’s not enough capital right? While, 71% of the entrepreneurs surveyed agreed, the report says something rather interesting: financiers argue that many of the new ventures are simply not fundable. Financiers note a lack of fundable business plans, pointing to issues ranging from the quality and feasibility of the business idea to the commitment of the entrepreneur and his or her team.

Of the six countries surveyed, Kenya seems to fare the best in terms of capital supply — only 52% of Kenyans sees this as a challenge.

Sources of financing

The main sources of financing are personal and family loans (45%), private equity (19%), bank debt (18%), government funding (5%), venture capital (5%), angel seed (4%) and other (4%). “Other” funding sources include corporate funding, lease / receivables financing or stock options. Some entrepreneurs in South Africa claim that their businesses are funded using multiple credit cards because most banks are reluctant to provide a loan to businesses but are willing to increase limits on the entrepreneurs’ credit cards — expensive, but easy.

The majority of respondents are in agreement that the cost of funding is too expensive — the report found that in some cases, banks require 150% of the borrowed amount in collateral. An alternative, government lending, could be more attractive was it not for bureaucracy and nepotism reported by some respondents.

Venture capital still emerging

The report concludes that venture capital in Africa is still an emergent phenomenon and the majority of survey respondents (67%) agree. Entrepreneurs are forced to pursue bank loans which simply are not tailored for startups. Banks see startup investments as high risk, low reward and like to quote statistics that show 9 out of ten startups fail within the first five years of operation.

Illustrating a profitable business model is critical to boosting VC activity in Africa says the report. Entrepreneurs need to focus on being rigorous business planners and demonstrating their understanding of a particular sector to investors. Entrepreneurs must “know something about everything, and everything about something,” says the founder of First Rand Group in South Africa, Paul Harris.

The report warns however, that finance is not the determining cause of a venture’s success or failure. “Rather, the entrepreneur’s ability to adapt to market changes and cope with uncertainty, as well as their level of tenacity, are greater determinants of a business’ success.” Entrepreneurs also forget about market access. Without multiple product channels, revenues and profits likely stall, and this lack of growth makes funders reticent to invest.

When looking for funding it’s important to get matched with the correct funding provider and to be proactive. A mismatch might occur where a financier is looking for historical data when the venture is fledgling. Entrepreneurs must identify the availability of capital sources and the suitability of capital given their company’s stage of growth. They must also be able to assess their funding requirements and identify those funders that are most likely to fund them. The report advises that misperceptions and misunderstandings can be mitigated by enhanced communication.

Lack of exit opportunities

The report identifies a lack of viable exit opportunities, which leads to a disincentive for funders to make investments — funders can’t recoup their investments. 48% of Ghanaian respondents report that it is uncommon for business owners to use buyouts to sell their firms. Respondents in Ethiopia (42%), Tanzania (41%), Nigeria (38%) and Kenya (37%) share the same concern. The regulations for exiting businesses are also considered rigid, and there is little awareness about the fact that large multinational corporations or private equity funds can sometimes be compelling buy-out options.

Importance of networking

The report raises a fascinating point about how the size and power of an entrepreneur’s network shapes innovation. A larger, more powerful network, with a larger funding pool will allow for bigger ideas and lessen the chances of a startup stagnating.

The research calls for the formalising of seed and angel investing networks. It singles out successful examples, such as the Mo Ibrahim Foundation and the Tony Elumelu Foundation.

Solutions

To mitigate some of the challenges, the study proposes solutions for startups in different growth stages.

Early-stage enterprise financing in Africa

- Reduce bureaucracy for early-stage companies to access government funding in order to provide ‘softer’ sources of financing for less-experienced entrepreneurs.

- Expand or initiate local angel investing ecosystems to ensure the availability of the most appropriate type of funding for start-ups, especially for entrepreneurs who lack the network of friends and family that traditionally play this role.

- Provide tax and other incentives to formal, as well as informal (e.g., family and friends), angel investors to make it easier for people who have extra cash to invest in startup businesses and reduce their risk.

- Provide tax and other incentives for large clients of early-stage ventures to provide supplier credit to incentivise and reduce the risks suppliers take when providing generous payment terms and/or stock to new ventures.

Mid-sized enterprise financing in Africa

- Leverage indirect personal sources of funding, such as pension funds to fund SMEs, so that more resources are available to fund more-established enterprises where the risks are lower.

- Expand or initiate local venture capital investing ecosystems to ensure that the most appropriate source of funding is available for companies at the mid-level stage of development.

- Use local banking systems to disburse donor or government lines of credit to SMEs to reduce prohibitive interest rates and collateral requirements.

- Provide incentives and support to mid-sized SMEs to practise sound financial management and maintain adequate records, including audited statements.

Later-stage enterprise financing in Africa

- Create capital-raising engagement programmes with leaders of well-established private African enterprises to inform entrepreneurs about the benefits of private equity funding, as well as the benefits of listing at local stock exchanges.

- Create continent-wide ‘regional champions’ programmes to facilitate access to capital (both debt and equity) for independently vetted pan-African companies that are expanding across the continent.

- Educate entrepreneurs about possible sources of funding outside banking systems.

- Train and assist early-stage entrepreneurs in the intricacies of capital-raising.

- Train the local financial community to evaluate investment opportunities on the basis of future prospects rather than historical cash flows.

As always we welcome you to share your own experiences, insights, reactions in the comments below!

The VC4Africa community wants to close Africa’s startup-funding gap, bringing quality entrepreneurs in Africa and qualified investors from around the world closer together. Entrepreneurs who join VC4Africa can register their venture and follow five steps to fundraising on VC4Africa. Investors can register on VC4Africa to see which screened ventures are fundraising, get access to private venture documents and express their interest to invest.

http://vc4africa.biz/blog/2013/04/23/report-on-entrepreneurship-in-africa-lack-of-capital-lack-of-fundable-business-plans/

zentarr: HoUse wifee

Where you see housewife for the list.

The ideology passed by the female right movement and the increasing education of the girl child have changed the way our women view marriage. Subjects like gender equality and the place of a women in the home raises serious commotion in forums.

I for one as web 2.0 African, I support gender equality, the fact that women should be allowed to contribute actively in the society via their careers and marriage should be seen as a partnership instead of a Master and Slave relationship that is currently popular.

This brings me to my question.

CAREER Or An ENTREPRENEURIAL Wife Which Do You Prefer Or Want To become & Why

A career woman is a woman who attends college, takes the required professional exams, bag every possible masters and Phd with the dream to work in the best companies, climbing from one position to another, which might require transfers from one location to another, working odd hours. the catch is that at the end of the day she will become a voice in her profession.

An Entrepreneurial woman is a woman who goes to school, take all the professional exams, bag every possible masters and Phd with the dream of starting her own company, where she create jobs, decide her working hours, and delegate tasks and responsibility to enable her have time for her family as she builds a very strong company.

WHICH DO YOU PREFER MEN. WOMEN WHICH DO YOU PREFER TO BECOME

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What a very smart analysis at OP, from you post I deduced the following.
Your post should be called the "Desirability Quotient"

Which states that.
That the desirability of a man is directly proportional to Class and intelligence. While that of a woman is directly proportional to sex appeal and inversely proportional to Age. Given that the order of the present society remains constant.

The set "Class" is made up of the following variables such as, financial status, age, education, sex appeal and family background. With financial status been the most important variable.

It is to be noted that this quotient is used to determine desirability and possibility of you getting the one you Love or fancy to say yes to a relationship, but can not be trusted 100% to measure the possibility of finding true love.

NB: Love can not be reduced to a formula it's a force that till 2moro defies logic, it can't be bought or manipulated by tweaking your desirability value. True love is is divine.

Increasing your desirability can only help in getting you true love notice you or give you a chance.

That been said. I keep on increasing my desirability Value, to make it easier for her to say yes, and give "US" a chance.

Secondly in answer to the new dilemma faced by women who have discovered that the're is a short supply of desirable guys. They have 2 options which is either they lower their standards to a reasonable level and should'nth wait till their desirability quotient go down natural before doing so. Or they can keep contesting with the 90% women for the desirable 10%.

#Matthew Briggs

http://realbeautysketches.dove.com

Every woman should watch this