We are only at the begining of the Internet Journey says Wikipedia Founder

In a business interview with Chris Blackhurst, Jimmy Wales talked about the potentials of the internet, Social media and online’s capacity for reaching the poorest lives on the planet.

“Social Media is turning traditional business models on their heads…. In the developing world in five years, one billion people possibly two billion, are going to have small and inexpensive phones”. They are going to demand access to information they could never see before. That will have all sorts of ramifications”

Encouraging Entrepreneurs to embrace courage, patience and persistence, he said:

I’d launched a project called Nupedia, which was very top down, very academic, and failed. It was too difficult for volunteers to contribute to. It was relaunched as Wikipedia using the wiki software. allowing everyone to edit”… it has just grown and grown and grown.

We are in 288 languages, in every country in the world. Typically, we are in the top five websites people look at. Monthly, over 400million people look at .

Click on this link to read the full ineterview: http://bit.ly/1S3ZiJV, also published on http://zurumnewsdigest.blogspot.co.uk/

 

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Six Questions African Policy Makers Must Answer Now by Ngozi Okonjo- Iweala

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The “Africa rising” story of the past decade, fueled by 5 percent average annual growth, is in danger of faltering, due to the impact of global uncertainty, depressed commodity prices, and weakly performing economies like China.
Don’t be lulled by the IMF’s 2016 forecast: yes 4 percent growth will outperform global expectations, but continued commodity price volatility and global uncertainty are giving rise to a fresh bout of Afro-pessimism. To change the narrative, and — more importantly — the reality it describes,
African policymakers must urgently answer these six questions.
1. How do we ensure steady financing for our significant needs for sustainable development in an increasingly uncertain global environment?
This is perhaps the fundamental question. Slowing growth and low commodity prices will be around for the next few years, causing an inevitable, but hopefully temporary, macroeconomic setback. This increases vulnerability to a retrenchment in external finance. Several African countries have issued Eurobonds (to the tune of $21 billion during 2013–15) and foreign investors hold a growing share of domestically issued debt. Foreign direct investment, which tends to be concentrated in natural resource sectors, is also likely to pull back. A cutback in external funding will put badly-need infrastructure investment and social programs on hold, dealing a blow to long-run growth. African countries need to work with the donor community to avert such a situation.
Economic diversification, creating jobs and tackling inequality, which are discussed below, are a vital part of the long-run challenge in Africa and also feed into two key global achievements of 2015: the adoption of the Sustainable Development Goals (SDGs) in September and the agreement on climate change at COP21 in Paris in December. But diversification requires well-developed infrastructure, telecommunications, power, roads, rail, water, etc. The World Bank estimates Africa’s infrastructure financing needs alone at US$93 billion annually. Climate-friendly and sustainable infrastructure will cost even more. But Africa offers the best opportunity for low-carbon, resilient, and sustainable infrastructure development because so much is greenfield and still to be built. Directing the necessary financing from international public and private sectors into African infrastructure development can reap important positive externalities for the whole world.
Africans rightly argue that they are victims, and not perpetrators, of today’s climate-related challenges. So will the international community rise to the occasion? The reality is weak global growth, coupled with domestic challenges on unemployment and immigration, makes it unlikely that developed countries will fully honor promises for additional financing to implement the post-2015 development agenda. Africans will have to mobilize the majority of their own resources. In fact the New Climate Economy estimates that 50–80 percent of the resources required for the development of sustainable infrastructure will have to come from countries’ own domestic resources.
This means African countries must ensure a quantum leap in domestic resource mobilization (DRM). The opportunity clearly exists to substantially increase tax and other revenue efforts, including limiting tax evasion and illicit financial flows. Across sub-Saharan Africa, tax revenues account for less than a fifth of GDP, while they correspond to over a third in OECD countries. African countries will need to almost double their tax revenues to help finance the SDGs. The good news is that tax revenues on the continent are growing rapidly. Through reforms between 1990 and 2004, Ghana raised tax revenues from 11 to 22 percent of its GDP, for example. Admittedly this is difficult. Raising non-oil tax revenues was something we saw as an opportunity in Nigeria and struggled with.
What is needed is a significant improvement in capacity, systems and processes in these countries — a worthwhile investment for governments and a small fraction of aid budgets that donors can support. In addition, DRM should also involve leveraging public resources innovatively to tap private-sector resources. Estimates indicate approximately US$380 billion in total pension assets under management in just 10 African countries, and these resources are growing rapidly. Between 2008 and 2013, Nigeria’s pension industry grew from US$7 to US$25 billion. In Ghana, the pension industry is expected to grow 400 percent between 2014 and 2018.
2. How do we truly diversify our economies?
Diversification has become a slogan. Everyone talks about it but the debate on how to truly diversify is shallow. The discourse reflects lazy thinking as if diversification could happen in just a few years. The vision of what needs to be done is often truncated into the short time frame of politicians, instead of carefully laying out the various stages to achieve a truly diverse economy — notwithstanding the abundance of 10-, 20-, and 30-year-long economic plans that are crafted in almost every country, and then gather dust.
There are plenty of models to follow: Dubai, Singapore, Thailand, Malaysia, Mexico, Indonesia, and South Korea are admired by Africans as economies that have managed to transform themselves. But the discussion often stops there without recognizing that Dubai, for example, started more than three decades ago to ask the question: What should life be like after oil? And it set out to implement a step-by-step vision of a services economy, putting infrastructure and incentives in place to build up financial services, tourism, medical services, real estate, media, arts, and culture. Singapore and South Korean are no less inspiring because they had few or no natural resources to rely on.
What these countries also had was leadership that was relentless decade after decade in pursuing the diversification and transformation of their economies — either through entrenched but benign dictators or democracies in which generations of leaders and citizens agreed on a vision of a broad-based economy.
Sub-Saharan Africa has the foundation for diversified growth that several of these trailblazers did not: value-added agriculture and agro industry, processing and transformation of mineral resources, petrochemical complexes, manufacturing of durable and consumer goods, tourism and entertainment, and an emerging information technology sector.
For donors, diversification delivers on several critical SDGs:
Goal 1 to end poverty
Goal 8 to promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Goal 9 to build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
Goal 10 to reduce inequality within and among countries
Goal 13 to take urgent action to combat climate change and its impacts
The journey toward diversification is long, but policymakers must start down this road now.
3. How do we improve the quality of growth and create jobs?
Recent growth in Africa did not bring a corresponding increase in jobs. Except in a few countries, like Nigeria, where growth actually occurred in the non-oil sectors, growth in most African countries was linked to their commodity sector. And growth benefited only a few, leaving, especially, young people and women behind. In fact inequality, measured by the Gini coefficient (with 0 denoting perfect equality and 100 perfect inequality) rose in several African countries between 2006 and 2013.
Country 2006 2013
S/Africa 57.8 63.1
Nigeria 43.7 48.8
Rwanda 28.9 50.8
Ghana 40.8 42.8
Tanzania 34.6 37.6
Source: UNDP World Development Reports for 2006 and 2013
Policymakers should answer this: is growth occurring in sectors that create jobs such as agriculture, manufacturing, and services? Who is left behind? How can taxation and income redistribution redirect resources better, and include those at the bottom of the ladder via social safety nets?
These were questions we were starting to ask and answer about our own growth story in Nigeria. The idea was not to question whether we needed growth but to improve the quality of growth.
4. What type and quality of human resources do we need to underpin our development aspirations?
As African economies diversify, matching skills to emerging job opportunities will be critical. Many Africans feel that despite the progress made by the continent on health and education indicators under the Millennium Development Goals (MDGs), our education and health systems are broken and need fixing. On a continent where 70 percent of the population is already under 30, and that is home to half the worldwide total of primary-school-aged children not in school, basic reading, writing and technology skills, followed by vocational, technical, and entrepreneurial training, must be priorities. Nigeria, especially, should act decisively here — Africa’s most populous country also has the largest number of children out of school, at 8.7 million in 2010.
But we must simultaneously strengthen weak health-care systems to tackle endemic diseases that sap productivity (such as malaria), and to provide preventative care for adults and, especially, for children (through vaccinations and routine immunizations). Stronger health-care systems will also help the world cope with future epidemics: the World Bank estimates the devastation wrought to the economies of Guinea, Liberia, and Sierra Leone by the Ebola virus at US$2.2 billion, or 16 percent of the combined GDP (2014) of the three countries. Sierra Leone’s growth rate for 2014, for example, was forecast at 11.3 percent prior to the crisis, but fell to 4 percent. The impact on other African economies due to the neighborhood effect was also significant.
5. How do we trade better with each other?
African goods and services accounted for just 16 percent of trade within Africa in 2013, and just over 3 percent of world trade. One problem is what we are making. Most African countries produce the same type of commodities, and trade them with very little value added. The continent’s industrialization drive, very much a part of the African Union’s 2063 development agenda, needs to focus on the issue of specialization to enhance inter-African trade. Industrializing through trade was the focus of the Economic Commission for Africa’s 2015 Economic Report on Africa. Countries with the requisite manufacturing base should consider what can be processed or manufactured, and traded with others.
One encouraging signal is the growing volume of intra-African investment, which rose as a share of the continent’s overall foreign direct investment from 8 percent in 2003 to close to 23 percent in 2013. This could be harnessed to achieve greater industrialization and increased trade of differentiated goods and services between African countries. This can be a virtuous circle which adds value and volume to Africa’s trade with the world.
But there is another problem to consider: logistics. Policymakers must make it easier to move goods across borders, by improving connectivity between countries, and reducing bureaucratic hurdles and administrative costs. For example, road transport tariffs across Africa are estimated at US$0.05 to US$0.13 per ton-kilometer, compared to the average of US$0.01 to US$0.05 for all developing countries. This must come down so Africans can more easily trade with each other.
There are some examples of significant improvements. The East and Southern African regional blocs , COMESA and SADC, have made some important gains in this area. For example, paved roads along the central corridor connecting the ports of Dar es Salaam, Tanzania, to Bujumbura, Burundi, increased from 57 percent in 2006 to 87 percent in 2010. There have also been efforts to improve rail infrastructure to increase efficiency and reduce costs. The African Development Bank estimates that the ongoing Rift Valley Railway project between Mombasa, Kenya, and Kampala, Uganda, would double the volume of trade while reducing marginal costs by 30 percent.
6. How do we focus on good economic management?
African policymakers should remember that much of the successful growth over the past decade and a half was down to good macroeconomic policies and good economic management. It will be difficult to succeed in all the areas outlined above unless the fundamentals are right. This means that prices in the economy have to be right, starting with the exchange rate. This is a tough call in 2016 for commodity-dependent African economies which have been hit by declining export earnings, but rates that are largely market-determined can ensure a softer landing. Some countries need temporary controls to curb injurious capital outflows and this is understandable. But these countries should have an exit policy and a plan for better management of the exchange rate in order to avoid a hard landing. Inflation rates, debt levels, adequate foreign exchange reserves, current account, and fiscal deficits are all key indicators to keep in reasonable territory to provide the solid framework within which real sector issues, such as the ones outlined above can be tackled and implemented.
Africa offers incredible opportunity for diversified economies based on low-carbon, sustainable infrastructure. We can meet the Sustainable Development Goals and the Paris climate agreement — indeed, we must — and we can change the “Africa failing” narrative.
But African leaders must answer these development challenges now.
Ngozi Okonjo-Iweala is a former finance minister of Nigeria, and a distinguished visiting fellow at the Center for Global Development.
Source: Okonjo Iweala., also published on http://zurumnewsdigest.blogspot.co.uk/

 

Financing Your Venture

Ian Sobieski, investor and managing director of the Band of Angels Venture Fund, highlights the benefits and specialties of angel investors, underlines the keys to finding and engaging an angel, and defines how to get the most out of your relationship with your investor after the deal is made.

Angel Investors are wealthy individuals who back business ideas .They  invest in exchange for partial ownership of the new company.

Venture Capitalists are typically partnerships or organizations that invest in businesses that are already in existence.

Click on this link to watch video :

Angel Investment: Angel Investors and Venture Capitalists.

https://youtu.be/RUFGyPV_O20

 

Surviving Disruptive Technology

Disruptive innovation occurs when an innovator brings something to market that is simple, convenient, accessible, and affordable.

https://www.youtube.com/embed/qDrMAzCHFUU“>

Disruptions are impacting industries like education; Coursera and others offering massive open online courses are a big challenge for Universities around the world.

https://www.youtube.com/embed/Aau-a8Z_7_s“>

Companies must make an early move to either adopt a new business model, or morph the existing model to take advantage of disruptive innovation — or suffer the same death of one-time industry leaders Kodak, Blockbuster and Borders.

Clayton Christensen explains his theory of disruption, drawing on examples of innovations occurring in the steel industry and from leading companies such as Toyota, Sony, Walmart and Indian refrigerator manufacturer, Godrej. Christensen explores how the theory can explain why the economies of America, England and Japan have stagnated. He also uses the theory to analyse how economies in Asia have achieved prosperity and to examine why countries such as Mexico are not experiencing economic growth.

https://www.youtube.com/embed/rpkoCZ4vBSI“>

Here are some tips to help you pinpoint disruptive opportunities within your organization.

Innovation Keynote Speaker, Soren Kaplan (http://www.leapfrogging.com), presents the business strategies, principles, and practices of disruptive innovation and how to create a culture of innovation. Dr. Kaplan is the award winning & bestselling author of Leapfrogging, a writer for FastCompany, a business school professor, and a top keynote speaker on disruptive innovation, disruptive technology, and innovation culture.

https://www.youtube.com/embed/UUZopoH_45c“>

Unlocking the Potential of Africa’s Next Generation: 20 critical Points Raised at the State of Education in Africa

The State of Education in Africa Conference 2015 was held in Lagos on September 2, 2015 and organised by the Africa- America Institute and sponsored by Ford Foundation and the World Bank.

The President/ CEO of the Africa- America Institute, Amini Kajunju said during her welcome adress that the event is focused on Innovative Approaches to Africa’s Education to consolidate on the considerable progress and achievements made in the education sector in Africa and to draw attention to critical key areas of improvement.

 

20 Critical Points Raised At The State Of Education in Africa Conference 2015

  1. Convert religious centres such as churches and mosques that are empty during the day to classrooms in educationally under-served areas in Africa. ~ Ndidi Nwuneli,Founder, LEAP Africa
  2. Agriculture studies’ curriculum should be reviewed to focus more on the Business dimension of Agriculture to enhance job creation.~ Ndidi Nwuneli, Founder, LEAP Africa
  3. Private Sector involvement in Education in Africa will augment government’s efforts.~Lawalley Cole; Coordinator, Working Group on Community for Education and Development, Association for the Development of Education in Africa (ADEA), African Development Bank
  4. Quality Assurance of Education (Reading, Writing, Arithmetic and Cultural Values) should be the yardstick of competition among schools in Africa~ Limbani Nsapato,Regional Coordinator, The Africa Network Campaign on Education for All (ANCEFA), Zambia
  5. The Education Curriculum in Africa should be tailored to suit the need of a particular environment. ~Lawalley Cole; Coordinator, Working Group on Community for Education and Development, Association for the Development of Education in Africa (ADEA), African Development Bank
  6. Attending a university is as dignifying as attending a Technical College; parents should note this! GE has a 2-year intensive course to re-align graduates with what is obtainable in the industry~ Yemi Fajemirokun, General Electric, Nigeria
  7. The education system in Africa should be reworked to prepare graduates to be job creators and not seekers. ~Olive Branch, Resource Mobilization Manager for Economic Projects Transformational Facility & Adjunct Faculty, Catholic University of East Africa, Kenya
  8. A close partnership between tertiary institutions and the industries in Africa should be worked-out for a continuous curriculum review. Representative of the Sector Manager for Education in Central and West Africa, World Bank
  9. The major education deficit that has been overlooked for years as observed in Morrocco, for instance is in the area of soft skills.~ Ahmed Legrouri, Academic Program Manager, African School of Economics, Princeton University
  10. Parents must realise that they are their children’s the first teachers; the teachers are only assisting. ~ Prof Pat Utomi, Founder/CEO, Centre for Values in Values in Leadership
  11. The obsession with tertiary eduaction should be curtailed; primary education is the most important. ~ Prof Pat Utomi, Founder/CEO, Centre for Values in Values in Leadership
  12. A continuous licence validation exercise for teachers will help improve their competency. ~ Pius Achanga, Head of University Affairs, National Council of Higher Education (NCHE), Uganda
  13. A teacher’s crash program should be given to National Youth Corps (NYSC) members during the orientation camping, since majority are posted to teach in schools especially in rural areas. ~Oluyomi Ola-David, Development Economist and Faculty Member, Department of Economics and Development Studies, Covenant University, Nigeria
  14. The governments in Africa should try to draw the line between teacher qualification and knowledge dissemination ability in order to establish a benchmark for teacher recruitment. ~Ola David, Head of Innovations, Connect Academia; Education Advisor, Permanent Mission of Nigeria to the United Nations
  15. Teacher educators are often overlooked; the governments in Africa should adopt an innovative and problem-based learning approaches to teachers’ training.~ Ola David, Head of Innovations, Connect Academia; Education Advisor, Permanent Mission of Nigeria to the United Nations 
  16. Poor teacher wages should be looked into by African governments, also the best brains should be sent to the classroom. ~ Ola David, Head of Innovations, Connect Academia; Education Advisor, Permanent Mission of Nigeria to the United Nations
  17. Government in Africa should offer free and qualitative education to intending teachers; that will go a long way to address the acute shortage of teachers.~ Julius S. Nelson, Jr., Vice President and Dean of Student Affairs, University of Liberia
  18. Energizing and unlocking bright minds for a bright future in STEM in Africa is possible with continous science laboratory equipping, teacher capcity upgrade, more time at practical sessions and e-library set-up. ~Prof Doyayi M. Aminu, Study Group Coordinator, Institute for Security Studies, Abuja and Visiting Professor, Distance Learning Centre, Ahmadu Bello University, Zaria, Nigeria
  19. Creating science and technology summer camps with lots of simulation tools including establishing a quota system to encourage female participation will go a long way in boosting Africa’s economy through innovation and invention. ~ Marcel Silue, Associate Dean, Science, Technology, Engineering and Mathematics (STEM), International University of Grand-Bassam, Cote d’Ivoire
  20. A culture of innovation should be imbibed in our young people across Africa because we live in a technology future. ~ Iyinoluwa Aboyeji, Co-founder and Director Recruitment, Andela., Compiled by Bidemi Ojo (Source: Word Press)

Try something New; Start from a blog.

Starting a blog is almost automatic ● No technical expertise needed ● Anyone can start a blog!

A blog is a personal web page that is created by an individual or a corporation to communicate with readers. It contains a series of chronological entries by its author, and links to related web pages.
The act of creating a blog is often referred to as “blogging”.

Blogs require no knowledge of HTML. Millions of people without HTML skills of any kind can post their own web pages, and share content with friends and relatives.

A blog can host pictures, text, audio, and video; which makes it really versatile, plus you own it entirely-being in control.”-ExposureNinja

Blogs serve as a marketing and advertising mechanism. Blogs have become very useful as the internet is now well on its way to becoming a major distribution channel for News, movies, TV shows, and sporting events.

There are many opportunities to address a large market with unmet needs:

Increased internet usage and smartphones penetration heighten the potential value of emerging markets as content creators and distribution seek ways to “make the long-tail of consumers the fat-tail”-WEF

Internet users are now increasing the time they spend online watching TV and movies,listening to radio, reading newspapers, magazines and even books.

Young adults watch more TV on the internet, less on cable. Online newspaper readership is expanding rapidly as more people get their news online, and as smartphone and tablet apps become more widespread.

Alternative online sources such as yahoo, google and even blogs have become major sources of news for many people. Much of this “news” is redistributed content generated by newspapers.

The thousands of blogs in the blogosphere depend on traditional reporting media like TV and newspapers to create content that blog writers can react to.

Use the internet and social media for good and explore ways you can profit from it.!

Technology is making it easier to work wherever you want. You can work from anywhere!

“E-Commerce is set to become the fastest growing form of commerce. Just as automobiles, airplanes, and electronics defined the 20th century, so will e-commerce of all kinds define business and society in the 21st century”-Kenneth .C. Laudon, etal.

Uche okeke; inspiring young people to think different.

Also published on http://zurumnewsdigest.blogspot.co.uk/

 

The Future of Education

Digital learning has the potential to transform the reach, nature and quality of education; however standards, training, infrastructure and impact evidence are still needed.
Technology can help make: (1) educational content freely accessible, (2) individualized instruction possible, and (3) subject mastery the measure of a quality education (vs. simply attendance)

https://www.youtube.com/embed/G_iDIJdv3Xs“>

Khan Academy strives to provide a free, world-class education for anyone, anywhere — through online content delivered directly to independent learners worldwide or using a blended learning model in schools. It allows a student to learn at her own pace to truly master a subject.

Khan Academy and its free online educational videos are moving into the classroom and across the world.

Their goal: to revolutionize how we teach and learn.

https://www.youtube.com/embed/JC82Il2cjqA“>

How to Start a Business with very little Money

“If I were to start a new business right now and had no experience, no connections, no specific idea, and very little money, here’s exactly what I’d do.”- Jason Zook

If you are struggling with self-doubt, I want to tell you one important thing: You are not alone! We all struggle with defeating thoughts, especially when it relates to creating a business.

Your idea is good enough. You are good enough. You just need to put in the time, effort, and be willing to stick with it.

https://www.youtube.com/embed/NugRZGDbPFU“>

All business owners struggle at one time or another. Some in the beginning. Some near the end. Some struggle constantly. As long as you care about what you are doing and it brings you and your customers value, then you should fight through the tough times.

Getting started in business is easier than it’s ever been. The trick is to just get started.

Click on this link to read more: http://bit.ly/1P6TVcG

  • Will anyone like this idea?
  • Will anyone buy my stuff?
  • Will people think my business is dumb?
  • Will I ever make any money?
  • Will people talk negatively about my idea?
  • Will I end up naked, homeless, starving, and trapped in a pit of scorpions if I start this business??

Why high net worth Nigerians should invest in tech startups

Chinenye Mba-Uzoukwu, Information Technology (IT) entrepreneur and vice chairman of Demo Africa 2015 edition, has urged high net-worth individuals [HNIs] in Nigeria to start investing in technology startups, arguing that Return on Investments (RoI) in technology businesses has proven to be one of the most attractive in the world.

https://www.youtube.com/embed/7vtz_wTZi3M“>

Mba-Uzoukwu, managing director/chief executive officer of InfoGraphics Nigeria, , noted that most studies have shown that rapid growth start-ups generate the most new jobs in an economy and require the highest amount of equity risk capital. He quoted Craig Mullett from the Branison Group as stating that a 2005 study of 37 countries showed that out of various sources of funding including debt, private equity, venture capital and angel investor capital, “only angel investor capital significantly positively influenced the propensity to be entrepreneurs”.
 While all successful entrepreneurial hubs such as Silicon Valley, Boston, New York, Tel Aiv, Bangalore and Warsaw all have developed angel investor networks, which incubated start-ups rely for financing, contacts and strategy advice, Nigerian HNIs are slow in stepping up to create the platforms and enterprises oftomorrow. He said: “Interestingly Nigeria HNIs appear unaware of, disbelieving of, and/or uninterested in the latent potential of local technopreneurs despite the relatively low entry barriers to investors and a burgeoning start-up community. We recognise that the tech industry is still in early stage development.” He added, however, that “we must be intentional and aggressively so in looking inwards if we are to find sustainable and uniquely suited solutions to the challenges facing our country in the context of a 21st century global economy. Demo Africa is a great step and a new class of indigenous Nigerian investors must rise up and be counted because technology offers the most realistic stairway to a brighter future for Africa.”
While informing that Demo Africa connects African startups to the global ecosystem, he said the initiative “is the place where the most innovative companies from African countries get a platform to launch their products and announce to Africa and the world what they have developed.” A successful entrepreneur with proven capability, Mba-Uzoukwu explained that several options are available to potential investors under engagement models, which range from business angels to venture capital and private equity, for funding technology startups. “Whether it is purely a financial investment or a business decision to diversify business portfolio or an eagerness to join the next big game-changer, it seems pretty obvious that every savvy investor should have a technology company in his portfolio. Local investors who shun technology businesses today will see the earliest pickings taken by their Western counterparts at low valuations despite the apparent high risk,” he warned.
While describing technology as the fourth wave that should not be missed if Africa would hope for economic transformation, he likened the likes of Konga and Paga as signposts of things to come with Nigerian entrepreneurs requiring an infusion of foreign blood in order to scale in the absence of local HNI interest. He explained that investing in start-ups would soon be a serious investment option from banks to corporate organisations and individual investors. “By simple logic, if you have cash and have already made investments in real-estate, shares, other financial instruments, gold and possibly your own enterprise too, what can you do with any residual cash that you have? Invest in a start-up stands out as a good option – given that Nigeria is now a fertile ground for ideas and innovation, and being an entrepreneur is cool. And if you are wondering if any have been successful, just look at Interswitch, Hotelsng, M-Tech, IrokoTV, and Jobberman”.
According to him, the technology start-up industry has never been more vibrant with ideas and willingness to tread the uncharted waters and a burning desire to bring change to the communities in which they exist.  “There is a smoldering fire in the eyes of Nigerian youths that view technology as a means of self-expression, actualization and a driver for creating the Nigeria of their dreams. He opined that Nigerian youths are “socially-committed, deeply convicted and determined to see the fullest expression of their values and ideas in the markets they have in focus. They want the double-impact – to make it big and to make it happen. High net worth Nigerians should support them. Look around you – there will be an entrepreneur near you and that is the exciting thing about Nigeria. Therefore, if you don’t have the next big idea or experience or inclination to start your own venture, you can play a part in the start-up community by funding them”, he said.
[ Source: Business Day]
Compiled by Uche Okeke