Wednesday, 16 April 2014

In Business and Love, Emotional Intelligence Rules

Emotional intelligence is the most powerful tool for success -- not only in in romantic relationships, but business, too. In fact, the same rules for achieving your goals in business also apply to love. Here are five practices that people with high EQs use to achieve success at both work and in their personal lives:

1. Follow actions, not words. When I hire someone, I don’t pay much attention to lip service about accountability or hard work. Instead, I screen for a solid track record -- do they meet deadlines? Make calls? Close deals? What are they doing (not saying)?
In business and personal matters, talk is cheap.
2. Check yourself. We’re all emotional people, and sometimes little things can turn into unnecessarily big deals. Emotionally-intelligent people know how to push pause before making a perceived slight into a colossal deal. Did someone interrupt you in a meeting? Instead of stewing about it or plotting revenge, consider that the person is possibly distracted by personal issues at home. Maybe they felt scrutinized by their boss that day and was over-compensating with their boisterous presentation. Rise above it and give them the benefit of the doubt. It’s not always about you.  
The same rules apply to your romantic and business relationships. Everyone has bad days and everyone has their quirks. Just because your date doesn’t feel like dancing doesn’t mean she is embarrassed to be seen with you, or that you should never go out with her again. Take the incident for what it is and move on.
3. Keep the end goal in mind. Those who succeed in life and business keep an eye on the big picture. This means letting go of petty perceived slights and road bumps that present themselves each and every day. When you keep the end goal at the top of your mind, it is easier to negotiate with a difficult client, create successful, win-win partnerships, and focus your energy on what is most important -- not getting sidetracked by petty annoyances and putting out little fires.
That goes for relationships, too. If a long-term committed partnership with your spouse is your top priority, then you are less likely to focus on the proverbial toothpaste cap conundrums that trip up so many couples. Even bigger issues such as differences in money management or raising kids are more easily negotiated when you are both focused on lifelong collaboration.
4. Cleanse out the toxins. Good business feeds off good energy -- and negative people can destroy an organization. Entrepreneurs with high EQs know there are enough positive people in the world that there is no need to waste valuable energy managing the toxic ones. Sometimes even high performers are not a good fit if they are manipulative, combative or otherwise a negative force in the office.  
Ditto for your love life and business relationships. If someone zaps your energy or otherwise makes you feel bad about yourself, have the strength to move on. Emotionally intelligent people have little tolerance for others who are insincere (or downright lie), critical, needy or have addictive habits. There are some people who are better out of your life -- or on the other side of the courtroom.
5. Stay connected. Just because a relationship ends doesn’t mean that you have to obliterate the bridge. Even if a deal falls apart on a sour note, emotionally intelligent people make all efforts to take the high road and keep the connection alive and positive. You never know when you may cross paths again -- or need that person in the future.
Just because a relationship doesn’t last a lifetime doesn’t mean that you must part ways as enemies. More often than not relationships end because of differences or circumstances -- not personal slights. When a bridge is still available, there is far more opportunity for you to enjoy richer experiences on nearly every level.

From Entrepreneur

Ever Want to 'Unsend' an Email? Now You Can.


Ever send an email and immediately regret it? Or realize you've misspelled the recipient's name, and want to correct it? Or just don't like the idea of a catty remark about a co-worker sitting in a friend's inbox for all eternity? Is the inherent permanency of email crippling your style?
If you answered 'yes' to any of the above, Harvard Law students David Gobaud and Lindsay Lin believe they've cooked up a solution: Enter Pluto Mail, a free Web-based email service or, more succinctly, the Snapchat of email. (The name originates from the fact that Pluto's planetary status was doled out, and then abruptly rescinded – Similarly, "if you have second thoughts about something you said, our service allows you can take it back," explains Lin.)
Thanks in part to Facebook fatigue, as well as growing concerns about data breaches and NSA surveillance, Gobaud and Lin believe that people increasingly want their online exchanges to mirror their offline ones: impermanent, untraceable and therefore less restricted. "People self-censor themselves online," Gobaud says. "But if you have a conversation with a friend in person, you're not worried that that it will follow you for the rest of your life."
Pluto Mail's central selling point is its ease of use. It's not really an email provider – you need to authenticate your main email address to sign up – which means the service isn't limited to Pluto's Web interface; it can also be used on email clients like Gmail, Outlook and Apple mail. Unlike encryption services, which need to be downloaded and installed by both parties, recipients aren't required to use Pluto or install anything for the service to work. 
Similar to Snapchat, Pluto Mail allows you to choose when your email expires (although the options, of course, are far vaster). Do you want it to vanish ten days after you've sent it, regardless of whether it’s been read? Five minutes after it's been opened? Two seconds after it's been sent, just to mess with someone? Because while you can delete emails after you've sent them you can't erase their subject lines from a recipient's account. Say you send an email to your friend with the title: Top Secret, and then delete the message before she reads it. The subject line will remain in her inbox, except when opened, the email will simply state: “This message has expired.”
Like with Snapchat, Pluto Mail has an obvious loophole: if a recipient takes a screenshot of your email, it he or she can then save it forever.

Dodge the screenshot scenario, though, and once your email is deleted, it's truly gone. "In settings, the user can turn on auto eliminate so that when an email expires, we delete it from our servers immediately," Gobaud explains. He insists that Gmail's servers don't hold onto the email either and that, after a maximum of three days, the email disappears from Pluto Mail's backup server. In other words, your email is truly and completely erased.
"From a security perspective," says Lin, "ephemerality can be very beneficial." While Pluto Mail has generated excitement among people like herself and Gobaud (i.e. the young and tech savvy), Lin says there's also been a lot of interest from small businesses who want more control over their ability to manage confidential information.
Both Lin and Gobaud predict a seismic shift – anticipated by Snapchat's popularity – in how we use and think about data. "There's a trend towards a more forgettable internet," Gobaud says. "Humans don't have perfect memories. Computers do. And I don't think a world of perfect memories facilitates natural communication between people."
While Pluto Mail is currently still in beta, you click on this link to sign up.

From Entrepreneur

Tuesday, 15 April 2014

Africa must back entrepreneurs - Omidyar Network

                                                Billionaire Pierre Omidyar and founder of eBay

DAKAR - Entrepreneurs are central to bridging Africa's widening inequality gap but most governments on the continent are not doing enough to help them, the regional head of billionaire Pierre Omidyar's philanthropic arm said.

The Omidyar Network, set up by the founder of eBay and his wife, works through grants and equity investments to maximise the social impact of organisations in sectors like technology, entrepreneurship and government transparency.

It opened an office in Africa last year and has spent $50 million on the continent since 2008, a figure that will rise by $15-20 million a year from 2016, said Malik Fal, managing director of the network in Africa.

Africa's poor were failing to reap the benefits of an economic growth rate of around 5 percent, Fal said.

"South Africa is now the most unequal country in the world. We are seeing this inequality spreading across the continent," Fal told a Reuters Africa Summit.

"That speaks directly to our efforts in entrepreneurship because small businesses are the largest creators of employment."

The Omidyar Network provides grants and investments of up to $4 million. Its entrepreneurship initiative focuses on issues ranging from access to capital to legislation and changing attitudes to failure in countries.

Rankings like the World Bank's Doing Business index have led to African governments paying "lip service" to improving the environment for entrepreneurs, Fal said: "There's a willingness from governments but the execution ... is sometimes lacking."

He identified Kenya and Nigeria as exciting prospects and said Rwanda had achieved a lot despite its meagre size and troubled history. Technology, agriculture and clean energy were sectors presenting some of the best opportunities, he added.

But in most parts of the continent, Africans became entrepreneurs just as a means of survival, rather than because there were specific opportunities to exploit.

In many African countries there was a "cacophony" of policies that were not properly thought out and or in line with their needs.

In a bid to meet U.N. Millennium Development Goals over access to primary education, governments had built schools without providing teachers, administrators or a curriculum.

"You have many countries in Africa, including South Africa, where you have schools sitting idle," he said.

Fal said while nations were trying to be the next Silicon Valley, they needed to think more about what kinds of businesses their economy really needed. "It is very local. It is not even about countries but regions within countries," he said.

Another priority for Omidyar Network is helping people use technology to improve the transparency of governments.

In Nigeria, it supports Sahara Reporters, a citizen media website that encourages people to publish evidence of corruption and other abuses. It also supports the XYZ Show in Kenya, a satirical television show similar to Britain's "Spitting Image".

Omidyar is carrying out a survey of public service delivery in South Africa, Nigeria, Kenya, Ghana and Tanzania.

"In Africa, I don't think we have yet understood the difference between the public service and the government ... We need to uncouple that discussion," Fal said.


From NewVision

Good news for women entrepreneurs in Africa

Partnership formed between UN Women and the Mara Foundation, to enable and empower women entrepreneurs not only in Africa, but globally. The measure was announced yesterday during the African Union Summit in Addis Ababa, Ethiopia. Mentoring, training and tools will be provided to help women entrepreneurs.



UN Women and Mara Foundation announce  partnership to support women entrepreneurs in Africa

(Addis Ababa) UN Women and Mara Foundation today announced a partnership to enable, empower and inspire women entrepreneurs globally.
Announced during the Africa Union Summit in Ethiopia, the partnership will see the two entities working side-by-side to provide mentoring, training and business tools designed to meet the individual needs of women entrepreneurs on the continent.

One such tool, 'Mara Mentor', has been developed by Mara Online to help young entrepreneurs connect with their industry peers, as well as gain access to valuable business advice, online networking opportunities and training materials. 'Mara Mentor' can be accessed via a website (mentor.mara.com), and a recently launched app which helps users connect, anytime, anywhere.

UN Women's Knowledge Gateway for Women's Economic Empowerment (www.empowerwomen.org), is a global community set up to share resources and tools for women's economic empowerment, crowd-source feedback on innovative ideas and to connect women entrepreneurs and workers with experts, peers, networks and potential partners.

Combining the strengths of the Mara Mentor online platform and app and UN Women's EmpowerWomen.org, as well as its network of over 80 country offices around the world, women entrepreneurs will have the opportunity to better connect with policymakers, researchers, teachers, students, civil society activists, investors, social change-makers; access resources and training for the development of business skills; and develop an understanding of how to overcome specific challenges to gender equality.

Ashish J. Thakkar, Founder of Mara Foundation, said: "Having founded my own business at the age of 15, I understand all too well the challenges that face entrepreneurs setting up a business. These challenges are even greater for women, particularly in Africa, where they continue to lag behind men when it comes to gender equality in the workplace.

"I hope that through the combined efforts of UN Women and Mara Foundation, we can create a level playing field for women entrepreneurs of Africa and a solid network of women business leaders who will continue to inspire other women in Africa for generations to come."

Phumzile Mlambo-Ngcuka, Executive Director of UN Women, said: "Women's economic empowerment is essential to ending poverty and advancing gender equality and we are pleased to partner with the Mara Foundation to make greater progress."

"Women have a right to equal opportunities and equal access to resources and training. When women are empowered and barriers removed, the benefits ripple outward to many others, making economies more inclusive and stronger. Through this partnership, we hope to accelerate gender equality and women's economic empowerment in Africa and beyond."

Over the next 12 months, UN Women and Mara Foundation will jointly host a series of debates on women's economic empowerment across both platforms. Experts from around the globe will be invited to facilitate discussions and engage members of Mara Mentor and EmpowerWomen.org in order to better understand the barriers faced by women in business in Africa and globally. It is expected that this will further drive innovative approaches to women's economic empowerment in the region.

UN Women and Mara Foundation will be participating in a number of other joint activities and events to raise awareness of the issues women face in business and further strengthen the support provided to them by both the private and public sector.

UN Women is the UN organization dedicated to gender equality and the empowerment of women. A global champion for women and girls, UN Women was established to accelerate progress on meeting their needs worldwide.

Mara Foundation is part of Mara Group, a pan-African multi-sector business with extensive operating experience in both African and international markets.
Established in 2009, Mara Foundation focuses on fostering entrepreneurialism in Africa through a myriad of programmes designed to address the complete life-cycle of an entrepreneur's business idea. The Foundation works to create sustainable economic and business development opportunities for young entrepreneurs via Mara Women, Mara Mentor, Mara Launchpad and the Mara Ad-Venture Capital Fund. Mara Mentor's online platform and mobile app have been developed by Mara Online - Mara's online and mobile technology business.

The Foundation is active in a number of countries including Uganda, Tanzania, Kenya and Nigeria. For more information, visit www.mara-foundation.org.


From AfroBizNews

Two Nigerian Tech Entrepreneurs In Forbes’ Most Powerful Men In Africa List

In its list of the most powerful men in Africa 2014 published yesterday, Forbes identifies African men who are innovative, courageous, daring and often disruptive in their fields.
From Cameroon to Tanzania, Forbes contributor, Farai Gundan profiles 10 of Africa’s emerging power brokers, including two of Nigeria’s tech entrepreneurs who’re blaizing the trail.
Meet these two entrepreneurs, anchored by Forbes editorial.

Chinedu Echeruo, founder of Hopstop.com and Tripology.com


Echeruo is a Tech entrepreneur and founder of HopStop.com which he reportedly sold to Apple in the “billion” dollar range. HopStop.com is a mobile and online application that provides mass transit directions door-to-door mass transit, taxi, walking, biking and hourly car rental directions in major metropolitan markets throughout the U.S., Canada, U.K, France, Australia, New Zealand and Russia. In 2001, HopStop was named one of the 100 fastest growing companies in the US by Inc. magazine. Chinedu also founded Tripology.com, an interactive travel referral service focused on connecting travelers with travel specialists which was later acquired by USA Today Travel Media Group. Echeruo obtained an M.B.A. from Harvard Business School and a B.S from Syracuse University.

Simdul Shagaya, founder of Konga.com and DealDey.com 

Shagaya is the founder and CEO of Konga.com, Nigeria’s largest online shopping portal and DealDey spinoff site. Konga.com, Africa’s answer to Amazon.com, is an e-commerce platform that sells goods and services directly to consumers. Shagaya is also the founder & Executive Chairman of DealDey Limited, which offers services and products at discounted prices. In 2013 Shagaya won the All Africa Business Leaders Awards’ Entrepreneur of the Year award. HumanIPO selected Konga.com as one of the African technology startups of 2013. Shagaya is a graduate of George Washington University, Dartmouth College and holds an M.B.A. from Harvard Business School.

What other tech entrepreneurs should be on the list?

from TechLoy

Sunday, 13 April 2014

Meet The Young Nigerian Entrepreneur Rewarding African Achievement

Tonye Rex Idaminabo, a 29 year-old Nigerian lawyer and entrepreneur, is the founder of African Achievers Awards, a set of annual awards bestowed on Africa’s most accomplished achievers in politics, diplomacy and entrepreneurship. Now in its fourth year, the African Achievers Awards recognizes individuals and organizations that selflessly devote their time and talents toward improving Africa’s international profile and building stronger, integrated communities in Africa. Previous recipients of the award have included Nobel Prize winner Archbishop Desmond Tutu, Zimbabwean businesswoman Divine Ndhlukula, the Kofi Annan Foundation and Nigerian media mogul John Momoh.

The fourth edition was recently held in Ghana at the Presidential Banquet Hall of the State House under the patronage of Ghana’s President John Mahama. It was attended by several prominent African businessmen, celebrities and members of the diplomatic corps. I caught up with Rex, who spoke to me about the African Achievers Awards, his journey so far and his plans for the future.


Rex, tell me a bit about your background and why you decided to start this annual award.

It has always been my strong belief that people accomplish more when they are properly motivated. The work task on Africans with the building and restoring of Africa is one that demands a great many effort and sacrifice. Africa more than ever needs to be motivated in order to exceed her challenges. Celebrating the Achievers among us is one way of doing that. It not only encourages them carry on the good work, but it also inspires the young to dare to do even more. Growing up in Africa before I left its shores in pursuit of my studies, I saw many wrongs that I needed to make right. I also found that no matter how deep a person’s passions ran, one man cannot build a nation. So this is just one of many platforms to try and unite African icons for the purpose of her progress.

How do you fund these awards?

Well, like every other enterprise, funding is always a challenge. Initially, the first award was sponsored by King’s College London and other organisations who shared in the vision of the Awards. But as you can imagine, donations can only get you so far. Besides, fundraising for a sensitive thing as this could raise many questions with regards the integrity of the enterprise itself. We realized that African Achievers Award needed a self-sustaining source of funding. This realization largely birthed the Achievers Media Company. Most people who witnessed the quality and integrity of the Award ceremony began to approach us to manage and host their events too. At first we started very small, managing events for as little as £500 and gradually we grew to managing projects worth well over £50,000. The more successful events we held, the more people wanted our services. The projects got bigger and bigger, till date we’ve hosted over 30 events across the world. Soon we were approached by clients who wanted more from us than managing their events, they wanted re-branding and profiling. Those weren’t services we originally offered but when the demand for it subsisted, we started adding those services to our packages. And it paid off handsomely. This is how African Achievers Awards has overcome its financial challenges and is now independently sustained by it Media Business branch which spans across six countries.

Do you think the African Achievers Awards is making any impact at all?

I think we’ve made significant progress in identifying, encouraging and rewarding exceptional Africans individuals and organisations that are advancing Africa’s cause. Our awards are a tap in the back, spurring them to do more.  When people get recognized and rewarded for playing their role in our continent’s renaissance, they will be inspired to do more and in turn, inspire others to play their own roles. This is what we intend to achieve, and when we see it happening with every annual event, we are content. We do still have a long way to go, that goes without saying. But Africans are resilient, and we will see Africa restored in due time.

Five years from now, where do you envision African Achievers Awards?

Well, the African Achievers Awards has recently made some changes with the Advisory board bringing in the likes of  notable Africans such as Dr. Rilwanu Lukman (Former OPEC Secretary General and Former Minister of Petroleum Nigeria), Honourable Thokozani Khupe (Former Deputy Prime Minister of Zimbabwe) , Mrs. Divine Ndhlukula (She was named one of the most successful women in Africa by Forbes and recently named the ‘Queen of the security industry in Zimbabwe’ by BBC World) and Sir Celestine Omehia (former Governor of Rivers State). We hope that these changes and the infusion of these experienced and seasoned African entrepreneurs and leaders will drive the organisation to greater heights, in terms of innovation, integrity and otherwise.

Particularly, African Achievers Awards has set its sights on empowering the young and creating a better platform for them, as they are the future. This has led to a new initiative IMI (Investors Meet Inventors) where young Africans with innovative ideas can present their ideas to possible investors. This new initiative in Africa is aimed at bringing to life Africa’s Science and Technological creativity to the world.


5 years from now, we hope to have taken the event across more African countries and tocollaborate with The African Union. Next year for instance, we have our eyes on South Africa. We look forward to making the platform of African Achievers Awards bigger, with more opportunities to attract both African and foreign investors to the great continent of Africa.  We are looking forward to the calibre of names and deeds that will grace this platform.


From forbes

African dawn: Meet the entrepreneurs transforming their continent

The consumer technology boom is no longer restricted to San Francisco. Monty Munford meets three African entrepreneurs who are breaking boundaries across their continent

Old-timer: Businessman Tomi Davies has worked for FTSE 100 companies in the UK, the US and Africa, as well as developing the UK government's award-winning DirectGov website


Air stewardesses in Addis Ababa are always happy to talk about their work for Ethiopian Airlines. They tell of passengers who board the aircraft and ask, "Will there be ANY food on the flight?", believing that the country's 1983-85 famine is a permanent feature of the country's existence.

Ethiopia is actually a verdant and pastoral country, but such stories highlight the misconceptions about Africa which persist in defining a continent.

Three decades on and a lot has changed. Africa is continuing to throw off its post-colonial cloak to become the world's fastest-growing group of economies.

The reason for much of this explosive growth is the mobile phone and the internet. According to analyst ABI, in 2012, 76.4 per cent of Africans owned a mobile phone. That's 821 million out of a population of more than a billion people; this mobile penetration rate almost certainly surpassed 80 per cent in 2013.

This revolution has created extraordinary things. In Kenya, a mobile money service set up in 2007, known as M-Pesa, accounted for more than 31 per cent of Kenya's GDP across more than 19 million customers by 2012.

Somaliland is an unrecognised (but democratic) country between Ethiopia and Somalia which has no banks. It survives because of an international money wire service called Dahabshiil which allows the global Somaliland diaspora to send money back to the country. It also has crystal-clear mobile coverage and a buoyant mobile sector of five operators.

Across the continent in West Africa, the cities of Lagos in Nigeria and Accra in Ghana are becoming mini-Silicon Valleys as, thanks to government support, clusters of start-up tech companies are forming and are attracting big international investment.

"Technology has enabled a new generation of creators and innovators emerging from the African continent to come up with inventive ideas that solve local problems," says Rudy De Waele, CEO and co-founder of Nyota Media, an agency for African entrepreneurs. "The tools to do so have never been more accessible and low-cost in tech history and [they have] created new possibilities for African talent to start any project of their dreams."

Africa has a long way to go to change the minds and attitudes of those who worry about starving on Ethiopian Airlines flights, but the notion of Africa as hungry is changing – as not hungry for food, but hungry for success, as these three profiles prove.

Cities including Lagos in Nigeria (pictured) and Accra in Ghana are becoming mini-Silicon Valleys (Alamy)


Jason Bossman, Ghana

Jason Bossman has a great surname. As the founder of Ghanaian mobile ad start-up AdsBrook, it might be handy when it comes to making deals.

His company is based in the country's capital, Accra, but this is not Bossman's home town; he didn't come to Ghana until he was in his late teens, after growing up in New York.

When I met him at a bar in Lagos last year, his stories of the mischief he got caught up in when young perhaps vindicates his parents' decision to take the family back to the homeland.

"My memories of growing up in Harlem have grown fuzzy over time, but I distinctly remember a few things from my childhood: the apartment buildings where we lived, blaring music from street corners, facing-off with school bullies and other criminal temptations.

"I have three brothers and sisters and our parents tried to instil in us from a young age good, solid, Christian values. The desire to bring up their kids with strong African and Christian morals would have been seriously put to the test in that particular environment – East Harlem in the late 1990s. I'm not surprised my folks decided to move us back," he says.

It must have been tough for a New York kid to leave his friends and > relocate at that age. "When we arrived in our home country, the last thing I expected was that I would grow to love the life I would eventually have over here. What did greet me, though, was a big culture shock. As used as I was to the American – no, the New York – way of living, I ruffled many feathers with my attitude, that to me was normal, everyday stuff.

"It took up to my second year of university for me to begin to appreciate the simplicity of life in Ghana and to develop what was to later become the driving force to build an advertising business through Ghana and across Africa," he says.

Bossman points to Ghana's reputation as a politically stable country as a good place to do business, but it is the strong investment support by entities such as the Accra-based Meltwater Entrepreneurial School of Technology that is just as crucial.

They provided the $45,000 (£27,335) in start-up seed financing that gave Bossman and AdsBrook the boost needed to start a network of channels for advertisers to operate mobile and online campaigns. Founded in early 2012, the company is already making a profit and beginning to roll out outside Ghana.

"Starting a business in Ghana is ideal for a start-up, because the country is well connected to most of the key locations – but with all things being equal, good start-up companies should be able to flourish anywhere.

"For me, staying focused on the dream, and living that dream one day at a time, is mostly what has helped me out of many a daunting situation. Like many other entrepreneurs before us, we are simply trying to make a small piece of our world better, hoping that eventually our pieces of the puzzle will come together to make a whole," he says.


Hafiz Juma, Tanzania

The AIM Group in Tanzania was founded in Dar es Salaam by three siblings; Nadeem Juma, Shaista Juma and Hafiz Juma. The company initially focused on infrastructure deployments that made use of digital content such as interactive kiosks, motion-controlled projections and installations. It is now involved in a number of projects, including the Dar es Salaam International Academy and Efulusi Africa, a research and development company for mobile payment solutions.

"We are fifth-generation Tanzanians – we can trace our roots in the country to at least 1890," Juma tells me. "We are of Indian descent and make up a minority of Indian Tanzanians, who have a complicated history in themselves.

Juma studied in New York before co-founding Efulusi Africa in 2004, a company that deployed the first mobile banking platform in Tanzania. Then, in 2011, he created the AIM Group. In the past 18 months, the company has grown from a team of three to 25.

This success apart, the tech environment in Tanzania is still emerging compared to its neighbour, Kenya, which attracts money, investment and development by IT behemoths such as IBM. The company's recent launch of IBM Research-Africa, in Nairobi, is the company's 12th global laboratory and the first commercial research lab on the continent.

Juma recognises that Kenya is ahead of Tanzania in tech and economic development. "As a Tanzanian, I probably shouldn't be saying this, but we definitely face stiff competition from Kenya that has begun the process of creating a culture for innovation. It also has a much more educated working population, so you will often see Kenyans in management positions in Tanzania," he says.

But Tanzania is also putting itself on the international stage through events such as the highly influential TEDx talks that have proliferated around the world. Juma was instrumental in setting up the first TEDxDar event in 2010. "It is one of the most satisfying experiences I've ever had," he says.

"Economically, Tanzania is in a transitional space. Like everywhere else on the continent we are as caught up in the hype of 'Africa rising', it being the next hot-bed for growth, the 'final frontier' and all the rest of the conventional rhetoric about investment in the region," he concludes.


Tomi Davies, Nigeria

Tomi Davies is an old-timer. A businessman who has worked for FTSE 100 companies in the UK, the US and Africa, as well as developing the UK government's award-winning DirectGov website.

He commutes between Lagos and London, and in Nigeria he sits on the board of some of its biggest companies. He also led the Nigerian involvement in the One Laptop Per Child (OLPC) initiative and invests in local start-ups.

"Nigeria has 160 million people with more than 100 million of them using mobile phones daily," he tells me. "You can see the market potential here. You cannot have a 100-million-device market with local demand that won't inspire innovation," he says.

Davies became interested in Nigeria when the military handed over power to the people in 1999, and he began a series of investments that began with comics, before catching the mobile wave and moving on to seed investment for Nigerian companies.

"About a decade ago, just after Nigeria became a democratic country again, a South African friend of mine came up with the idea of a fantasy football league comic, called Supa Strikas." The idea later blossomed into an animated series shown in 30 countries and by a Disney channel.

In 2012, Davies was also one of the co-founders of the Lagos Angel Network that was set up to provide availability of seed funding for local companies. A group of senior industry executives now invest anything from £3,500-£35,000 into start-ups in the Lagos area.

The network started out with a quarterly Dragons' Den-style pitch event, and now meets monthly for a dinner, during which companies make speed pitches and have the opportunity to meet potential investors.

Davies is also confident that the emerging Silicon Valley-style cluster of tech companies will thrive with increased government support.

"Silicon Lagoon [Lagos means lagoon] has just been given a boost by the state government with a right-of-way grant to lay fibre all around the city. This project will fuel an already indefatigable entrepreneurial tech environment," he says.


From Independent