Was Rome built in a day?🧱
Hello Venturer,
They say Nigerians are always angry. That's why we often say "sorry" during conversations. You'd wonder why that's the case. Well, I can't speak for everyone, but I can for a few of us. Getting by in this country is not easy: inflation is biting hard, so it's challenging to maintain a decent standard of living.
When people like me try to unwind with social media, we get barraged with ads telling us how people are making millions of dollars from affiliate marketing or mobile games. They'd say: "Learn how I turned $5 to $1 million in two days."
Social media is littered with clickbait and stories exploiting people's struggle to earn a living; there isn't much content giving relatable roadmaps to success. That's why many young people like me are angry. We are barraged with success stories we can't connect with.
The new generation of corporate workers, freelancers, small business owners, and creatives need to see successful people whose journeys are not so different from theirs. We explore such a story in this week's issue of VA Weekly.
Amoo Zainab
Social Media Executive.
What's new?
Oladimeji ajegbile: How I made my first N100K
Dimeji’s career is a blend of positions that work in synergy. He studied architecture at Bells University of Technology and practices as an architect in the environmental branding space. He currently leads a multi-firm where he combines branding and architecture to create unique spaces for brands and businesses. He is also a brand identity designer and content creator with over 40,000 followers on Instagram. Read more
Nigeria is no longer an oil giant
For a long time, Nigeria has enjoyed the eulogies of being Africa’s biggest oil giant. But today, it doesn’t hold that status anymore. Its oil production has been on a steep downtrend, and two African countries have overtaken it. Angola and Libya are now the top two oil producers on the continent, per a new report by the Organisation of the Petroleum Exporting Countries (OPEC). Read more
Does africa need more development banks?
Three months ago, Ghana established Development Bank Ghana, its fourth development bank, to provide long-term, competitively priced loans to SMEs that have long been financially underserved. As usual, praise followed its launch, with many touting it as a “step in the right direction”. But it’s not easy to shake away the feeling that Ghana doesn’t need a new development bank, not even for SMEs. Read more.
Nigeria’s top export partners in 2022
Interestingly, Nigeria’s top export destinations have remained the same. About 39.8 percent of Nigeria’s exports by value went to European countries. While 34 percent went to Asia. Recurring partners in the past five years – India, Spain, and France – bought over a third of Nigeria’s exported products. Read more
My pivot journal: How this chemical engineer transitioned into a communications manager
Enajite Efemuaye has a wealth of experience in the media and communications space although she did not take any course in that field. When it comes to pursuing her passion, she has learnt to take risks no matter the cost. It’s been over a decade since she earned her first degree in Chemical Engineering and Enajite has pivoted to work as the Communications Manager, Pivo Africa – a finance platform for the supply chain. Read more
Will 5G work in Nigeria?
5G (5th Generation) is the most recent generation of mobile communications technology and is designed to outperform previous 4G networks. Over the last 30 years, so much economic transformation has happened as the mobile industry developed 2G, 3G, and 4G technology. And 5G ought to build on these previous generations’ success to create new use cases and possibilities on the internet, thereby aiding new business models. Read more
Diversification and development Key to fulfilling Africa’s potential
Nicolas Kazadi, Finance Minister for the Democratic Republic of Congo (DRC), recently outlined the Congolese government’s ambitious plans to turn the country into an African industrial hub with the launch of a far-reaching reform agenda. The roadmap Kazadi laid out is a first step towards concretizing the vision that DRC President Félix Tshisekedi evoked in a late June speech, wherein he promised to embark on “a new fight against poverty and social injustice”. Read more
South Africa’s thriving banking sector is vulnerable to cybercrime
The banking and insurance sectors in South Africa have shown impressive growth in recent years. However, cybercrime is rising at an overwhelming rate. In 2021, South African banks recorded net profit increases of between 95% and 224%, and total banking assets in the country grew by 16.36% to hit $388.2 billion at the end of March 2020. Read more
Weekly economic index: Africa needs $250B to transform its agricultural sector
The 2022 Africa Agriculture Status Report (AASR22) report has revealed that Africa needs between $40 billion and $77 billion yearly from the public sector and up to $180 billion in private sector funding to trigger and sustain agro-food transformation. The report said such funding is needed in areas of supply chain financing through digital solutions, blended finance, partial credit guarantees, risk sharing facilities, fintechs and crop receipts, among others. Read more
Our Weekly Collectibles
Queen Elizabeth II was a symbol of an idea that changed the world permanently. Even after her death, the idea still burns. Find out why in Elizabeth II: Life after death.
How smart are you with money? Learn simple yet expert tips on how to spend less and save more in get smart with money.
Visual artist Chase Hall turned questions of identity and belonging into a fiercely independent and deeply inspired artistic practice. Discover the awesome audacity of Chase Hall.
What do Mexico and Nigeria have in common? Find out in Mexico and Nigeria: A tale of two cities.
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Remember to stay safe!
