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WAP: Rental Business (chairs, Tables, Canopies,etc) How Profitable Is This Businessit is really profitable if you can draw clients |
mr skincare: Is black soap worth all the hype?never tried it so i would not know |
Johnnoah1st: u knw get black and white tv 4 house?up madrid |
success4: No. 1: Dustin Moskovitzi love whites for their simplicity |
donnie: Please join me and millions around the world to celebrate this amazing woman of God, Reverend Anita Oyakhilome.happy birthday |
frosbel: [flash=400,400]business as usual |
trigar12: I culled this report from Encomium magazine. Quiteleave the bishop alone |
trigar12: I culled this report from Encomium magazine. Quiteleave the bishop alone |
[quote author=wawa_boy]Why they want presidency back in 2015 . IBB, Abacha, Abubakar, Dantata, Lukman links exposedA’Ibom willing to renegotiate Fresh revelations emerged at the weekend of how some northern elite members and ex-military rulers took control of the Nigerian oil industry. The scheme was achieved through the allocation of oil wells to themselves, family friends, in-laws and other northern aristocrats and business men, making these individuals to rake in huge incomes from oil money, an online chat portal, NigerianWorldForum, disclosed yesterday. According to the information, Cavendish Petroleum which operates OML110 was awarded to the late Borno patriarch, Alhaji Mai Deribe by General Sani Abacha on July 8, 1996. The oil well is said to have a proven oil reserve in excess of 500 million barrels, which is more than the entire 300 million barrels reserve of Sudan. It also has the capacity to produce about 120,000 barrels of crude oil daily from its OBE 4 and OBE 5 wells. Calculation at current production levels indicates that the Mai Deribes net about N4billion monthly in crude oil sales at oil price estimates of $100 per barrel (p/b). Another prominent northerner enjoying the wealth from the oil industry is Prince Nasiru Ado Bayero, who is the cousin of the Governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi. The Fulani prince is a key shareholder and director in Seplat/Platform Petroleum, operators of the Asuokpu/ Umutu Marginal Field with a capacity of 300,000 barrels monthly and A 30 mmfcsd gas plant capable of feeding 100MT of LPG. Also, former Defence Minister, General T.Y Danjuma, has been linked with South Atlantic Petroleum Limited (SAPETRO). SAPETRO is a Nigerian Oil Exploration and Production Company that was created in 1995 by the retired army General who is also the chairman of ENI Nigeria. General Abacha allegedly awarded the Oil Prospecting License (OPL) 246 to SAPETRO in February 1998. The block covers a total area of 2,590km2 (1,000 sq. miles). SAPETRO partnered with Total Upstream Nigeria Ltd (TUPNI) and Brasoil Oil Services Company Nigeria Ltd (Petrobras) to start prospecting on OPL 246. Akpo, a condensate field was discovered in April 2000 with the drilling of the first exploration well (Akpo 1) on the block. Other discoveries made on OPL 246 include the Egina Main, Egina South, Preowei and Kuro (Kuro was suspended as a dry gas/ minor oil discovery). In June 2006, General T.Y Danjuma was said to have divested part of his rights and obligations to China National Offshore Oil Corporation (CNOOC) for $1 billion (N160bn). Akpo exports about 230,000 barrels of condensate daily. Condensate export is not regulated by OPEC, so SAPETRO/ TOTAL exports as much as possible each day. Egina exports about 75,000 barrels of oil daily. Therefore, Akpo and Egina’s fields export just over 300,000 barrels of oil/ condensate daily said to be three times what Ghana exports. The General gets 25 percent of what accrues. According to the information, the gas component is about 2.5 trillion cubic feet. The money SAPETRO nets each month is allegedly more than the monthly statutory allocation to any Nigerian state and also more than the oil revenue of Ghana according to information. Oil fields OML 112 and 117 were awarded to Amni International Petroleum Development Company by General Abdulsalami Abubakar in the twilight of his administration in 1999. In the productionsharing contract, AMNI gets 60 percent for owning the oil block and Total gets 40 percent for providing technical advice. OML 112 was awarded in February 12, 1998 while OML 117 was awarded on August 4, 1999. Operations started on both blocks in February 26, 2006, according to Nigerian- WorldForum. The licenses are due to expire on February 11, 2018 and August 5, 2019 respectively. The information portal believes that this is one of the reasons why some northern leaders want the presidency back in the north by 2015. The oil fields have about 50 million barrels in reserve and currently produce/exports just a little below 20,000 barrels per day. The chairman of AMNI International Petroleum and Development Company is Colonel Sani Bello from Kontagora, Niger State whose son, Abu, is believed to have married General Abdusalami Abubakar’s eldest daughter. The retired army colonel was a former governor of Kano State and Nigeria High Commissioner to Zimbabwe. Former Petroleum Minister, Alhaji Rilwanu Lukman, has also been linked with Afren Energy. The company operates the Okoro and Setu fields in OML112. Apart from operating Amni oil blocks, Afren, also has key interest in the NNPC/Vitol trading deal, Vitol is a London based oil trading company. Vitol lifts 350,000 barrels of crude oil daily from Nigeria. Former head of State, General Ibrahim Babangida’s in law, Alhaji Mohammed Indimi has been linked with Oriental Energy Resources Limited. The company runs three oil blocks OML 115, the Okwok field and the Ebok field. OML 115 and Okwo are OML PSC, while Ebok is an OML JV. General Babangida’s son, Mohammed is married to Alhaji Mohammed Indimi’s daughter, Rahama Indimi-Babangida, who also serves as a director in the company. Other directors include Amina Indimi- Fodio, Jibrila Indimi, Ibrahim Indimi, Ahmed Indimi and Mustafa Indimi. The chairman and patriarch, Alhaji Indimi hails from Niger State. OML 115 is 228 sq Km. On OML 115, Oriental Energy Resources Limited has 60 per cent while Equity Energy Resources AS, which has allegedly been linked to Alhaji Aliko Dangote’s oil and gas investment vehicle, has 40 per cent. On Okwok, Addax has 40 percent equity while on the Ebok field; Oriental Energy Resources has 100 percent. AMNI produces twice as much as Cavendish Petroleum. Another northern aristocrat, Alhaji Aminu Dantata was awarded oil field OML 108 by General Abacha in November 1995 through his Express Petroleum and Gas Limited. CAMAC Houston, a company owned by KaseLawal bought 2.5 percent equity of Express Petroleum’s 60 percent holdings. The other 40 percent on OML 108 is owned by Sheba E&P Limited, also linked with General Babangida. SEPCOL operates the Ukpokiti offshore field in Shallow water Nigeria, which was acquired from ConocoPhillips in May 2004. Alhaji Saleh Mohammed Jambo is another prominent northerner thriving in the oil industry. He owns NorEast (North East) Petroleum Nigeria limited. The company is the holder of OPL215 license, covering an area 0f 2,564 square kilometres in water depths between 200 to 1600 metres. NorEast is the parent company of Rayflosh Petroleum which was awarded blocks OPLs 276 and 283 leading to a Joint Venture Agreement with Centrica Resources Nigeria Limited and CCC Oil and Gas. The license was awarded to Alhaji Jambo by General Babangida in 1991 and then renewed in 2004. So far $50Million has allegedly been spent on the very promising Okpoi-1 and Egere -1 exploratory wells. Former Vice President, Alhaji Abubakar Atiku, the Yar’Adua family and the Ado Bayeros have also been linked with INTELS , the Oil and Gas Free Zone and Oil Services Centres, as well as Support Bases, are operated from governmentowned facilities, leased to INTELS under long-term agreements. INTELS runs a ‘private port’, with the attendant effect on the Calabar, Warri and Port Harcourt ports. There are over one hundred major companies operating at the INTEL facility in Port Harcourt. http://nationalmirroronline.net/news/48962.html[/quote]they want more money to themself |
eGuerrilla: Nigeria's Millionaire Preachersonly God will judge |
[quote author=My_Time]In the month of November, FORBES will publish its annual official ranking of the 40 richest people in Africa. A lot of research has gone into the making of this list and this year, we’ve uncovered several hidden holders of wealth across the continent. Many of them are names you’ve probably never heard. In the coming days, this author will list at random, ten relatively unknown high net-worth individuals from various African countries, pulled from our extensive wealth database. This is the first part in the series. Here are ten low-key, ultra-wealthy Nigerian tycoons, entrepreneurs and business leaders. Each of them is worth at least $50 million. There are no politicians or criminals here — just good, successful businessmen. Kola Aluko Source: Oil, Aviation services Kola Aluko, a Nigerian energy and aviation tycoon, founded oil trading firm Fossil Resources in 2001, then went on to become CEO of Exoro Energy- an indigenous oil exploration and production firm. In 2007, the company merged with Seven Energy, a leading independent oil exploration company. Aluko is now Deputy CEO and a leading shareholder of Seven Energy, which has operations and key interests in four onshore fields in the Niger Delta. Aluko is also a member of the advisory board of Vista Jet, a Swiss-based private jet charter company founded by Thomas Flohr. A passionate car racing enthusiast, Aluko has competed in major European races with the Swiss team Kessel racing. In June 2012, Kola Aluko was reported to have purchased two luxury ultra-modern estates in Beverly Hills for $40 million. He reportedly has business ties with Nigeria’s current Minister of Petroleum Resources, Diezani Alison-Madueke. Eddy Martins Egwuenu Source: Banking A former bank chief, Egwuenu is the second largest individual shareholder of the Zenith Bank Group. His 1.5% stake in Zenith Bank alone is worth about $60 million. Jide Omokore Source: Steel, Oil, Dredging Omokore is the chairman and founder of Energy Resources Group, one of Nigeria’s largest privately-held conglomerates. ERG has interests in oil trading and exploration, haulage services, steel, dredging engineering and property development. The group’s annual revenue exceeds $400 million. ABC Orjiakor Source: Oil The trained orthopedic and trauma surgeon might have thrived due to his formidable connections with Nigerian military bigwigs such as former President Ibrahim Babangida, but ABC Orjiakor is a successful businessman on all parameters. One of Nigeria’s wealthiest men, Orjiakor is the Chairman and CEO of Shebah E&P Company Limited, an oil exploration firm which has a 40% stake in the offshore block OML 108 which produces over 8,000 barrels per day. Orjiakor is also chairman of Zebbra Energy Limited which owns the deepwater concession OPL 248 offshore Nigeria. Sam Iwuajoku Source: Commodities, Aviation services Iwuajoku made his fortune importing rice and steel rods, while leveraging his extensive political connections to obtain a series of generous import duty waivers from the Nigerian government. Among other ventures, he reinvested in private aviation services. His company, Quits Aviation services is one of the few fixed-base operators in the country. Quits Aviation Services owns a large maintenance hangar at the Murtala Muhammed International airport in Lagos and a jet charter service. Gbenga Oyebode Source: Law, Investments One of Nigeria’s most renowned commercial lawyers, Gbenga Aluko is a founder and Managing Partner of Aluko & Oyebode- a successful corporate and commercial law firm in Nigeria. He owns a minority shareholding in MTN Nigeria, and sits on the company’s board. Oyebode also serves as chairman of Access Bank PLC, Okomu Oil and Crusade Insurance. The value of his shareholdings in these companies is worth tens of millions of dollars. Arthur Eze Source: Oil The Nigerian oilman sits atop Atlas Oranto Petroleum, a West African exploration company which owns several producing and non-producing oil and gas assets across Nigeria, Liberia, Equatorial Guinea and the Gambia. In 2010, Oranto Atlas sold off a set of oil blocks in Liberia for $250 million. Eze pocketed $200 million from the sale. Aderemi Makanjuola Source: Offshore support services The reclusive tycoon is the founder and Executive chairman of the Caverton Offshore Support Group, Africa’s first integrated offshore support service provider. The company provides marine, aviation and logistics support services to oil exploration and production firms based in West Africa. Some of its clients include Cameroon Oil Transportation Company (COTCO) and Shell Petroleum Development Company (SPDC). Caverton Helicopters- a subsidiary of the group owns a 10,000 square meter flight facility at the Murtala Muhammad International airport in Lagos, a 9,000 square-meter facility in Port Harcourt and a heliport in the elitist Victoria Island in Lagos. Dele Fajemirokun Source: Diversified His father, Henry Fajemirokun, was a renowned shipping magnate and one of Africa’s most successful businessmen after Nigeria’s independence. Nigerian Maritime Services Limited, the shipping company he founded in 1962, is still one of the largest shipping companies in Nigeria today. Dele Fajemirokun, his 62 year-old son is now in charge. A prominent boardroom guru, Fajemirokun also owns key stakes and sits on the board of several Nigerian blue-chips including American International Insurance company and oil explorer First Hydrocarbon Nigeria Limited. Michael Ade-Ojo Source: Car distribution Michael Ade-Ojo is the biggest seller of Toyota vehicles in West Africa. His Elizade Group accounts for over 10% of all Toyota sales in Nigeria. He is also chairman of Toyota Nigeria and is a key shareholder of RT Briscoe PLC, an NSE-listed distributor of Toyota cars in Nigeria. Source:Forbes Magazine http://www.forbes.com/sites/mfonobongnsehe/2012/11/02/10-nigerian-multi-millionaires-youve-never-heard-of/[/quote]most nigerian millionaires are criminal |
BUSH MAN: definitely money launderingoverbloated |
nanaman: How Do You Transfer Shares To Next-Of-Kin Where The Deceased Never Made A Will??it is a different ball game out here |
Redoil: The Lagos State Office of Public Defender on Friday summoned officials of the Kick Against Indiscipline of the state’s Ministry of the Environment that allegedly detained a pregnant woman, causing her to lose a six-month-old pregnancy.in civilized society this would post serious legal implication |
pak: Though I saw the 'lesbian' and the 'she' in the report. . .shame to womanhood!! |
Oghale009: GISTvilleorder!!!! |
eyemeka: The district head of Gulak in Madagali local government area of Adamawa State, Alhaji Sa’adu Danburam, has been shot dead in his office in Maiduguri by unknown gunmen.rip |
eGuerrilla: To every action there is always an equal and opposite reaction - Newton's 3rd law of motion.abacha tuaght them to rent a crowd.very soon we will START seeing youth earnesty ask for GEJ |
Chokolee: These two clubs are just used to each other! Tough match its gonno be though!!always a tough derby |
leonshom: Barcelona quartet Carles Puyol, Sergio Busquets, Cesc Fabregas and Xavi are all in line to return to the starting lineup for Tuesday's clash against Real Madrid after being rested over the weekend.hope they win today |
RoblesOg: s exclusively reported by LEADERSHIP on Sunday, Chief Tony Anenih in the early hours of today was unanimously elected Board of Trustees (BoT) chairman of the ruling Peoples Democratic Party (PDP) in a meeting of the party held at the Banquet hall of the presidential villa, Abuja.nigeria is practising recycling democrazy..or what do u think? |
[quote author=fogman,]Missing 30-year-old petroleum engineer found dead. Mr. Akanbi Oluwatoyin, the missing petroleum engineer with an oil company in Lekki, Lagos State, has been found dead. A relative of the deceased, who identified herself only as Ekineyo, told our correspondent through a BlackBerry Messenger that Akanbi was found dead in Ifo, Ogun State. Ekineyo did not elaborate how Akanbi died and what took him (deceased) to Ifo when he was said to have left for his office at Lekki on Lagos Island on the fateful day. PUNCH Metro had on Monday reported the disappearance of the oil worker from his New Okoba, Agege home in his silver-coloured 2008 Highlander with number plate Lagos SMK 975 AS, about 5.30am. Wife of the deceased, Oluwatosin, a medical doctor with Lagos State Health Service Commission, had raised the alarm over her husband’s disappearance. Culled: The Punch[/quote]we cant trust the security to do a good job..so God dey |
[quote author=legacy_systems]Military might at work Russia next-gen air defense system Consist of Pantsir-S missile and artillery systems, as well as advanced radio equipment. The S-400 is a next-generation anti-aircraft weapon system capable of firing three different missile types. The system was designed to intercept and destroy jamming planes, radar planes, reconnaissance aircraft, strategic carriers, cruise missiles and medium-range ballistic missiles. Military analysts reported that the Triumph is capable of tracking more than 100 targets simultaneously at ranges of over 600 kilometers (370 miles), and destroying up to 12 targets at varying distances.[/quote]This does not count in diplomacy..bros...if a crime is comited,the people involved should be prosecuted according to the law of land,it is the norms everywhere,in this case our criminal justice system,due to the corruption involved will not allowed such |
ayodinho91: Justice Okechukwu Okeke of a Federal High Court sitting in Lagos on Monday granted bail to 15 Russian sailors charged with alleged unlawful importation of arms to Nigeria.money must have changed hands..it is not an issue of inferiosity complex |
Bawss1: Apparently there are no threads here on the on-going 2013 Mobile World Congress taking place in Barcelona so let's get the ball rolling.i will get one for myself soon |
[quote author=~Bluetooth]Several months after they were withdrawn from their training school in Cyprus, 67 amnesty trainees are to undergo a fresh selection test to determine their eligibility for placement in new institutions abroad. The affected Niger Delta ex-militants, who signed up for the Amnesty Programme in 2009, were sent to study various skills at Inter College, Larnaca, Cyprus, in 2011 but were withdrawn last December and asked to return home when Nigeria discovered that the school was not accredited to offer the courses it was offering to the trainees. Vanguard’s finding reveals that the Kingsley Kuku-led Presidential Amnesty Programme was misled by one of its vendors to select the Cyprus school. The trainees, it was gathered, were withdrawn when it became clear to the Amnesty Programme that the certificates to be issued to the students at the end of their programmes would not be honoured by prospective employers. The affected students have, however, become agitated since they returned to Nigeria and have asked the Amnesty Office to take steps to find appropriate training institutions for them. In a text message to Vanguard, weekend, the students complained that they had been left almost stranded without any communication with the Amnesty Office since their abrupt return to the country. However, the Amnesty Office said, yesterday, that it had not abandoned the affected trainees and was working hard to source another school for them. Amnesty Head of Media and Communication, Mr. Daniel Alabra, told Vanguard that the affected students would, however, be subjected to a fresh round of selection test on March 25 to determine their suitability for new schools. Alabra said: “It is true that the students were brought back when we discovered that the school was not accredited, principally to save them from avoidable problems in the future. “We cannot allow them to waste their precious time and return with worthless certificates and be stranded in Nigeria. That is why we are doing our best to sort their problems out once and for all.” They lamented that it was wrong for the Amnesty Office to keep them in the dark, having lost some years before they were taken to Cyprus for the aborted training programmes. http://www.vanguardngr.com/2013/02/67-ex-militants-withdrawn-from-cyprus-school They claimed they were misled while billions of naira probably disappeared into thin air yet no investigation was conducted,nobody was arrested nor prosecuted and they deemed it fit to shield this from the public.Nigeria and corruption.[/quote]serious scam there |
[quote author=deal_ordea]https://www.cp-africa.com/wp-content/uploads/2013/01/Ashish-Thakkar.jpg 31 year old Ashish Thakkar is Africa’s youngest billionaire. Born in Uganda, the young billionaire was just 13 when he and his family had to flee the continent to escape the Rwandan genocide. He started his entrepreneurial journey at age 15 after taking a $6,000 loan to start his first company. The journey led him to found Mara Group which has become one of the largest information technology companies in Africa. Wharton Business School recently interviewed the young business man about his foray into the business world and his remarkable success. Check out the interview below. Don’t forget to share it with your friends and associates online. Knowledge@Wharton: You started making money at the age of 14 by selling your own computer at a profit to a family friend. After you sold it, you didn’t have a computer yourself. Why did you do it? so inspirational..how much is he worth? Ashish Thakkar: That’s how it all began. Basically my parents bought me a computer. My father’s friend came home for dinner that night. He saw it and he said, “How much did you get that for?” I told him the price but added on US$100 more than what we actually bought it for. And he said, “How many do you have?” I said, “I’ve got two.” And he asked, “What are you doing with the second one?” I said, “I’m selling it.” He said, “OK great, could you deliver it tomorrow?” And I said, “I’ll do it after school.” So while they’re having dinner, I’m cleaning up my computer, deleting all the files, emptying the trash can, packing it up so I can deliver it. Obviously I didn’t have a second one. I delivered it the next day and I made a hundred dollars. I said, “Wow, this is doable.” Knowledge@Wharton: What did your father say when you gave his friend a price that was a hundred dollars more than what he paid for it? Thakkar: He was laughing. We didn’t discuss it much. We just kind of left it at that. I was a little scared that he would tell me off so I didn’t really discuss it. I just delivered it the next day and bought another computer. And I managed to sell my second one to the school. Knowledge@Wharton: So from then on, you got into the IT business? Thakkar: What happened was then my summer holidays came. I had two months of holidays. I was 15 and I said to my dad I would like to set up a small shop during my summer holidays and then I’ll shut down my shop and then go back to school. I did that. I set up a tiny, little shop with a US$6,000 loan. At that time, floppy disks were the hot thing. I was selling those. And then my summer holidays finished and I didn’t tell my parents immediately. After a week, they figured it out. We sat down and I said, “Look, if you want me to study, I’ll study but I’m going to end up doing this anyway. Why not let me do this now?” My father is a pretty unconventional person and he said, “OK, fine. Go ahead and do this for a year. Do it on your own. If it doesn’t work out, you’ll have to go back to a year below your class.” I said, “Done.” So I still have that option available. I didn’t have enough working capital to do cargoes and shipments. I would travel to Dubai every weekend. Fill my suitcase with IT stuff. Pay my taxes on Monday. Sell Tuesday through Friday. Get my cash on Friday. Go back to Dubai on Saturday and Sunday. Pay my taxes on Monday. That was my cycle for six months. And then I was thinking, “There are so many people coming to Dubai to do exactly the same thing. Why don’t I set up a base to help them? We then set up an office in Dubai when I was 15 in 1996 to actually supply IT hardware into African countries. And the rest is history. Knowledge@Wharton: You had set up an office at 15? Thakkar: In Dubai, you need a local sponsor. I found a local sponsor who was a senior guy in Dubai. We went to the court to register a company. They were speaking in Arabic and I didn’t understand what they were saying. And he goes to me, “There’s a mistake in the document.” And I said, “Why?” He said, “They’ve written your age as 15.” I said, “Well, I am 15.” He said, “You’re kidding. You can’t just set up a company when you’re 15.” And I said, “I am 15 and I want to set up a company.” And he said, “Oh my God. Well, your dad is going to have to fly in and sign as a guardian so he knows what you’re doing.” And I said, “That’s fine. He’ll fly in.” So the company registration got delayed by a week. So that’s how it all began and then we diversified. Knowledge@Wharton: So now you’re in real estate, tourism, manufacturing, etc. Can you talk a bit more about the businesses you have? Thakkar: Today, we’re in 24 countries, of which 19 are in African countries. We have about 7,000 employees in Africa. We’re in IT services. It’s the same IT company I started a few years ago and we merged it a few years ago. It’s been labeled as Africa’s largest IT company but I don’t know how true it is. We’ve got an IT company. We’ve got a call center business across Africa. We’ve got a telecom infrastructure company. We’ve got a corrugated packaging business in East and Central Africa. We’re building a paper mill in East Africa. We’ve got an agricultural project. We’re building an Intercontinental hotel, convention center, shopping mall and office park in Uganda. We’re building two hotels, shopping mall, office park and hospital in Tanzania. We’re pretty active on the real estate side. We’re building a glass manufacturing company in Nigeria. For agriculture, we’ve secured a large piece of land, about 26,000 acres in East Africa. We’re looking at potentially going into the power generation industry as well. We’re a pretty diverse group. We advise some of the heads of state in Africa. We’re pretty active on the African front. I’m on the Global Agenda Council on the World Economic Forum for Africa and quite a few others. We speak and we’re very passionate on the African platform. Our model is we partner with international companies who want to come to Africa and become their local partners. We typically do 50-50 partnerships. We both put in capital. We both bring different expertise to the table. That’s the idea. Knowledge@Wharton: What sorts of traits make a good entrepreneur? Thakkar: You need to have that passion. You need to have that vision. And the most important thing is you need to have a very high moral ground. You need to be very ethical and transparent. I think as long as those three things fit together. Passion meaning loving what you do and really enjoying it, looking forward to waking up the next morning and getting back down to it is really important. That’s what’s going to keep you going. Vision is thinking big and starting small — that’s very important. Being very honest, transparent, open and ethical is very important. Never giving anybody the raw end of the deal is very important. Making US$100 on a margin on a computer is business. That’s fine. Everyone thinks profit in business or the world doesn’t go around. You don’t want to mess people around. It’s always better to under promise and over deliver and I think that’s how relationships should be held. My father always said, “Earn with your partners and not from your partners.” What goes around comes around. It’s important to be very transparent and clean. Knowledge@Wharton: Africa doesn’t have a reputation as being very transparent. Is that quite hard to keep those ethics while doing business in Africa? Thakkar: We’ve definitely lost business in the past because of that. We don’t entertain that kind of stuff. Genuinely speaking, a lot of our leaders have the right passion and vision. They’re really about transformation. In that respect, it’s just important to know how to go about it. So when you are put through that bureaucracy and people are trying to frustrate the process. We manage to reach out and scream. We make sure we get the right attention. We’re not just going to start entertaining other types of stuff because that’s just not something we agree with. Principally, it’s just not the right thing to do long term at all. We’re a case study in that sense because we’re absolutely transparent and we’ve succeeded in doing business. It is a generalization. Forget North Africa but sub-Saharan Africa has 46 countries. Even if 10 or 15 are not great, the others are. Out of the 46, I’m only in 19. Not all 19 are clean either but we have more emphasis on the ones that are. It is doable. Africa isn’t plug and play. It is a challenging environment but as long as you have the right intentions. We don’t do any sort of business that doesn’t have a social impact on people. We don’t want to go into mining and take out minerals from countries and export them to make a quick buck. We don’t do stuff like that. We want to do things that are sustainable for the continent that will benefit people and create some sort of local beneficiation that really help the communities we work in. In that respect, it’s important to have the right intentions. You’ve got to be a long-term player in Africa. You can’t come in with a short-term mentality. Knowledge@Wharton: You also have the Mara Foundation that includes an incubator in Uganda for entrepreneurs. What sort of atmosphere will help support entrepreneurs in modern Africa? Thakkar: After starting off as refugees in Rwanda, we lost everything. That’s when we started off with very little. I started off at the age of 15 with US$6,000. You understand what young entrepreneurs go through. We have a huge issue in Africa with unemployment. Unfortunately, a lot of our governments think the answer is foreign direct investment. It’s not. That’s when we started a mentoring program a few years ago. We were trying to mentor young entrepreneurs. The first year, we mentored around 120 entrepreneurs but it’s nothing in the grand scheme of things. We wanted to make a much bigger impact and that’s when we set up an online mentoring platform that we launched in Silicon Valley about three months ago. Within three months, we’ve actually got 52,000 young entrepreneurs signed up. It’s been amazing. We’re relaunching the entire site to have more content and data and everything else. At the same time, we’re realized it’s sexy to be working out of your bedroom in the West but in Africa, people just don’t respect you and trust you if you’re working from that kind of thing. In order to give credibility and visibility to businesses, we decided to set up business incubation centers. So now you’re guiding them, handholding them, teaching them, inspiring them and you’re giving them credibility and visibility. Now the missing link was partners and capital. How do they get access to funding? Then we launched our own venture capital fund that basically invests in these companies. This entire project belongs to the Mara Foundation, which is a nonprofit social enterprise. So far, we haven’t raised any external money. Everything has been 100 percent subsidized by the group. We’ve launched in Uganda. We’re launching in Tanzania by the end of the year. We’re signing partnership agreements in Kenya, Nigeria and South Africa. It’s quite an amazing thing and I spend about 30 to 40% of my time on the foundation. Knowledge@Wharton: You met with a whole bunch of business leaders like Marissa Mayer, the new CEO of Yahoo, on a recent trip to Silicon Valley. Was it difficult to find top business leaders to partner with budding African entrepreneurs? Thakkar: Everybody loves the idea of it. But it was the method. How do they go about it? Where do they start? That was the big question mark, which is why hopefully the platform answers the question. There was a lot of positive feedback. At that time, we literally had zero entrepreneurs on our network and now have 52,000. We’re launching on mobile now since we’re online. Hopefully we’ll be launching on Nokia and Blackberry apps. That should create a massive scale. When it does, we’ll probably come back to Silicon Valley and relaunch it. Everybody does want to play a role. Everybody wants to help out. Everybody loves the idea of it but doing it in a credible way, hopefully we’ll be one of the conduits for that and support the entrepreneurs. Knowledge@Wharton: Any other future goals? You’ve accomplished so much at such a young age. Thakkar: Frankly, I’m very passionate about Africa. I’m fourth-generation African in that sense. My parents and my grandparents were born in Africa. Helping entrepreneurs is one thing but helping entrepreneurs in Africa and slowly but surely, taking it to other emerging markets and other markets generally. We want to make a global platform because there’s nothing stopping them. The content’s the same. Entrepreneurial advice is entrepreneurial advice. Once you have all that content online, it can be used anywhere. My aim is to impact a few million African entrepreneurs. We want to make the group global. At the same time, I’m very passionate about changing the image and perception of Africa. Unfortunately right now, when people think about Africa, they think about a child with a bowl in his hands. That’s absolute rubbish because plenty in our continent has evolved. We’re really progressive. I think the right story needs to be told. We need to stop generalizing about a billion people in 54 different countries. It needs to stop. I think changing the perception and hence my whole space trip is creating a positive buzz about the region, and making people realize that people in Africa have the vision and ability as well. So I think focusing on young entrepreneurs, which is the immediate thing. Scaling it up in Africa and making it global one day. Also, next year, we’re launching something called Mara Women, which is focused on women entrepreneurs through the Mara Foundation. All our incubation centers and venture capital funds and mentoring will have an allocation fixed for women entrepreneurs. So young women entrepreneurs, going global and changing the perception of Africa are what we’re focused on. Knowledge@Wharton: You have an interesting family background since you said your grandparents were born in Africa but you’ve also lived in the U.K. Thakkar: Sure, in the 1890s, my father’s family left from India and went to Uganda. In 1920, my mother’s family left from India to go to Tanzania. After they got married, they lived in Kenya and moved to Uganda. And then in 1972, the Idi Amin saga took place and everybody was expelled. My parents left, lost everything and went to England. My parents worked in factories, built some capital, started up a business, built more capital and bought a home. In 1993, they decided they wanted to go back to Africa so they sold off the home, sold their business and took everything they had to Rwanda in Central Africa. Nine months later, unfortunately, my parents, my sister and I were taken from our home and we were refugees for three weeks. I don’t know if you’ve seen the movie Hotel Rwanda. I was in that hotel. We were evacuated. Fortunately, we came out alive but unfortunately everything they built from 1972 to 1993, they lost in 1994. So we literally started from scratch. My father took a US$11,000 loan and set up a business. And I took a US$6,000 loan and set up a business in 1996. And here we are today. Knowledge@Wharton: That must’ve been terrifying as a refugee because you were so young at the time? Thakkar: I was 13. It was crazy because you remember everything. It was extremely terrifying. You think back to my father, having my sister, my mother and me with us. He was still playing games and acting all chirpy acting as if everything was fine. When you think back, you think, “Wow, he’s something else.” Knowledge@Wharton: You have been quoted as remembering U.N. convoys running over bodies to make sure everybody was dead. Thakkar: What happened was we were in a truck being taken from the hotel and I was curious. I stuck my head out and saw that bodies were being loaded in trucks. I asked the U.N. guy. Basically, whichever army or rebels or whoever, are taking all the bodies and putting them in a truck and taking them to a place and blowing it up to make sure everybody was dead. When you go through all that, it makes you think, “Wow.” This is the reason it gives you a completely, completely different perspective on life. I’m 31 and have so many people around me, saying “Why are you spending 40% of your time on the foundation? There’s so much more in business.” Literally we have the ability to access anyone we want to, a whole specter. We can do some crazy stuff in the entrepreneurial space. But I think God has been amazingly kind and given us so much. It’s given us a second or third chance. Why not give back and impact other people’s lives? We’ve been lucky that we’ve been able to make things happen but so many others haven’t. Why not help them and give them a second or third chance. It’s important to give back and genuinely that’s how I believe wealth should be measured. Knowledge@Wharton: It sounds like the Rwandan genocide has really impacted the career you’ve taken on? Thakkar: It has. Another major factor that has played a key role in my life is my spiritual leader Morari Bapu at moraribapu.org. He really is an amazing, amazing individual. He has three core teachings, which are truth, love and compassion. He has these nine-day functions every so often. I try to attend at least one or two a year. Listening to him keeps me really grounded. Just listening to him makes you really realize there’s so much more to this world than just earning money. Since I was a child, I’ve been following him. That’s my one little secret. It freaks me out even thinking what I would do without him. He has been an amazing inspiration. He really teaches you truth, how to be honest, how to be a better person. Love – how to love everyone around you, regardless of religion and color and race, this, that and another, regardless of their position in society and all that rubbish. He teaches compassion, like how to give back, with no hidden agenda and no particular intention. That’s why I hate the word “CSR.” [Corporate Social Responsibility] It’s such a useless word. Someone doing it for the sake of doing it so they’ll look good in society. You have to go about creating social enterprises. That’s the way forward. You have to make sustainable wealth in a straightforward and simple manner. I set up my manufacturing plant ten years ago. At that time, I was producing 30 tons a month. Today I’m producing 30,000 tons a month. Why? Because there was a demand so I created this plant. My foundation helped 120 entrepreneurs three years ago. Why can it not help a million entrepreneurs? There’s a demand. Why not create the platform? I did it in packaging. I did it in all my other businesses. Why not do it in this? I looked at it as a real business. That’s where I think we need to switch our mindset. I’m hoping this will create a huge impact, and I’m hoping this will inspire the public sector to do more to support these young entrepreneurs. And also the private sector to do more. It’s not about the size of the check. It’s about the impact that you create. When you’re putting up a business, your simple bottom line is what’s your IRR? How much are you making at the end of the day? It’s not a matter of what kind of investment you make, it’s the return you’re focused on. People need to look at this very differently. It’s time we changed that mindset. Knowledge@Wharton: I want to talk about you being an astronaut. You talked about changing the image of East Africans and you’re the first East African to become an astronaut. You’ve signed up to be an astronaut on Virgin’s private space flight. What made you decide to sign up? Thakkar: A few years ago, I was in China watching the news. And I saw the news and I thought, “Wow, that looks pretty funky, a bit crazy.” It pumped up my adrenaline and I was at the airport lounge. And I just logged onto their site and I just signed up. I didn’t take it that seriously. I hadn’t even watched Star Wars so it wasn’t like I was jumping up and down. I just kind of did this. When I was a child, I always thought about being an astronaut or a pilot. I didn’t take it that seriously and I didn’t take it that seriously when I signed up. But then I got a phone call from Virgin. I was offered a Founder’s Position from Africa to represent the continent to become Africa’s second astronaut and East Africa’s first astronaut. I just thought it can create an amazing political impact. So the heads of state officially handed over their flags to me and I officially represent the region. So it’s feeding that buzz that we have the vision in East Africa. I did training in Philadelphia’s NASTAR Center when they put us through the centrifuge. They’re pushing you down 3.5-Gs [as in G-force] so it’s really intensive. You walk in thinking, “Oh yeah, I’m going into space” and then you walk out, thinking, “Oh no, I’m going into space.” It’s really cool though and very exciting. Virgin Galactic has been an awesome company to be associated with. The whole journey has been really fun. I met some amazing individuals. Knowledge@Wharton: You’re based in Dubai now. Thakkar: Our home office is in Dubai. It’s the perfect hub for Africa. It’s more centrally located than London or South Africa. We feel passionately about Dubai as a hub for Africa. There have been a lot of historical routes between this region and Africa. I think more and more, there’s an active role being played and it’s increasing further and further. Obviously, India and China have invested in Africa pretty aggressively. Europe has inroads from the colonial times. I think the Middle East is getting to grips with it now. They’ve done so much in Africa. But I can see the momentum is increasing. I don’t think the U.S. understands its story as well but I think that will slowly change. You can see the transformation taking place in people’s mindset. Still, there’s a huge lack of understanding. People still need to understand sub-Saharan Africa or take even East Africa. Each of these countries is an independent case study. You can’t copy and paste anything. You have to localize it. The culture is different. The vision is different. The leadership is different. The jurisdiction and laws are different. Policy is different. The mindset is different. You have to plug into each country being very local. And that’s very important. Unfortunately right now, we really generalize the continent and that’s very wrong. Knowledge@Wharton: So because of these generalizations, people in the U.S. and the Middle East have been hesitant about investing in Africa? Thakkar: I think it’s more than hesitancy. It’s a lack of understanding. You can see the eagerness and there are historical ties. There’s a lot of warmth here for Africa but translating into more trade between the two regions. It’s been happening but I think it’s been increasing. But with the U.S., I’m not sure. I still haven’t seen any huge movements in that respect. In the past, the U.S. has been a little bit more conservative and moved a little slower but I’m sure in time, the U.S. will come into play quite a bit more, which is a good thing. Knowledge@Wharton: So where in the Middle East have people been more interested in investing in Africa? Thakkar: The United Arab Emirates [UAE] has been more active. The UAE is the one I understand the most. I haven’t seen too many Qatari groups come in. I haven’t seen any Bahraini groups come in. I haven’t seen too many Saudi groups come in. The UAE seems the most active in that respect. But you can see everyone else bubbling up as well. Hopefully, we’ll see a lot more now. http://www.cp-africa.com/2013/01/22/meet-31-year-old-ashish-thakkar-africas-youngest-billionaire/[/quote] |
2iic: PRESIDENT Goodluck Jonathan appears to have devised a strategy for freeing himself from the clutches of governors hostile to his 2015 ambition, especially those from the states ruled by the Peoples Democratic Party.he is learning obj style |
ogugua88: Gun Owners Get Discount At Virginia Pizza Shop |
[quote author=S@NNiE]Despite promises by the Enugu state Government and its council areas that it will prioritize education in the state, DailyPost investigation has shown that the state of primary education in many parts of the state could still be described as “shameful and embarrassing”. Our correspondent who went round the state observed that primary schools in Igbo-Etiti and Udenu council areas are among the schools neglected by the state government. Ironically, Igbo-Etiti prides itself as the Local Government area that has produced the highest number of professors in the South-East geopolitical zone. With over sixty professors from the council, and its immediate past local government chairman clinching the most prestigious ALGON best local government chairman award, nobody would have believed that thousands of its primary school pupils still receive their class lessons sitting on bare floors in dilapidated buildings. in nigeria nothing shock me anymore To say the least, teachers also sit on their motorbikes to write lesson notes. When DailyPost visited the Union Primary School, Akaibite , Ohebe Dim, a teacher who spoke under anonymity for fear of victimization explained that the school has been forgotten by both the state and the local government. “In fact, this school has been forgotten by the government. There is no help whatsoever coming from the government. During rainy season, teachers and pupils are always in trouble because the roof of this building is leaking. Also in the dry season, heat is always too much here. “Many pupils don’t attend school during rainy season for fear of the building collapsing. Painfully, this school is supposed to be the center for the Common Entrance Examination this year. But, we were denied this because we don’t have seats talk more of other facilities for the comfort of both the candidates and examiners”, he lamented. “We have made several appeals to the government but nothing is coming our way. The parents have done the best they can all these years. So right now, we are surviving by the mercy of God, but my concern is for the pupils, because I wonder how they would compete with their counterparts in other parts of the country”, he added. One of the pupils in primary four who said they were not happy studying on bare floor, told DailyPost that he would like to be a computer scientist. Asked why he would like to study the course, he explained “I will invent a machine that will be able to detect when one is telling lies or not because the government people tell lies a lot. I’m not happy that our school does not have seats and tables for both the teachers and pupils. “We are begging government to help us provide all these and even renovate our school building. Many of us sit on the floor during lessons while our teachers sit outside on their motorbike to mark our class work” For the Chairman of the Parents’ Teachers Association chairman of the school Mr. Robert Ezike, the community’s effort had already been over stretched. He explained that the school was built through community effort, pointing out that there was no basic facility being provided by both the local and state governments since the school started more than three decades ago. He said: “This school was built evenhandedly by the poor community dwellers. We have cried to the government to help us at least renovate the building, all to no avail. If nothing is done to ensure the renovation of this building this year, it may collapse. “As you can see, pupils here don’t have any seat. Teachers don’t have tables and seats. Parents here are very poor and have tasked themselves so much to run this school”. At the Central Primary school, Ozalla, the situation seems worse. But for the presence of the pupils outside the school building, a visitor to the school will mistake the building for an oversize cave. The building that houses the over 200 pupils of the school is one pre-colonial dilapidated structure playing host to holes in their large numbers. One of the teachers stated that they had been trying to get the attention of the government towards the completion of an abandoned school block in the school compound to no avail. “You can see that uncompleted classroom block. It would have reduced our problems. When the headmaster was posted here in 2010, he made all efforts to see that this building was completed. “He even got the phone number of the contractor but when he called the contractor, he said that government had not paid up the agreed contract amount to enable him finish the building. “Another problem is that we don’t have enough seats, tables and public convenience. You can see for yourself that our pupils sit on bare floor while many sit on logs”. He also disclosed that apart from some text books supplied by the state government this year and last year, no other help had ever come the way of the school. “When we got to Enugu last time, they told us that they don’t have even chalk to give us. We use our money to buy chalk here. We need the help of the government here”, he pleaded. At Egbu Primary School Amalla Orba in Udenu Council Area of the State, it was another pitiable sight. Lamenting over the situation, one of the teachers said: “our school is in total collapse. We don’t receive any help from both the local and state government. There is no incentive whatsoever from the government. We use our money to buy chalks and other teaching materials. The headmaster provides chalk, provides seats for the pupils. Most of the pupils sit on dusty ground to receive lessons”. More disturbing is the teacher’s ratio in the school with the over 200 hundred pupils receiving lessons from only 11 teachers. In many other schools visited in the area, it was the same tale of woes. At Amukwu Primary School, two school blocks have already collapsed, leaving the pupils to squeeze themselves in a dilapidated block. http://dailypost.com.ng/2013/02/25/photospeak-pupils-in-enugu-study-on-bare-floor-leaking-roof/?utm_source=&utm_medium=twitter&utm_campaign=photospeak-pupils-in-enugu-study-on-bare-floor-leaking-roof[/quote] |
nwabobo: Israel successfully tests Arrow 3 missile interceptorin isreal every citizen has undergone military training |
Laila Ikeji: Kanu Nwankwo's Heart Foundation is about to build a specialist hospital in Nigeria purely to deal with heart matters and President Goodluck Jonathan will lead top Nigerians in the private and public sector to formally launch the Kanu Nwankwo Foundation on March 3.he has trying for long..one of the few footbalers who has made impact |
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