Dear Entrepreneur, It’s time to end bad governance! What do you think I was referring to? I mean it’s time for you to end bad governance in your business and embrace good corporate governance. Corporate governance means following the rules and embracing the right practices to ensure your organization runs well. It means making sure the business is managed in a way that's fair, transparent, and accountable. This includes having clear roles for decision-making, ensuring everyone acts in the best interest of the business, and following laws and ethical standards. And in case you don’t know, no business is too small to embrace corporate governance. Do you make business decisions without proper planning and analysis, which can lead to confusion and poor business outcomes? Do you sometimes evade taxes, ignore labour laws, or engage in unethical practices like bribery for business favours? Do you make decisions that benefit you as the business owner personally but harm the business; for instance, hiring a family member who isn't qualified for a job? Do you encourage weak internal control such as allowing one person to handle all aspects of finance without oversight, which can lead to fraud or misuse of funds? If your answer is ‘YES’ to any of these questions, It is a pointer to bad corporate governance practices and a call for you to embrace the right practices. Here’s what I have for you this week
Trending NewsThe United States Government-funded Reach Namibia project launched the Adolescent and Youth Livelihoods and Entrepreneurship Accelerator (ALIVE) Hub.
The United States Government-funded Reach Namibia project has launched the Adolescent and Youth Livelihoods and Entrepreneurship Accelerator (ALIVE) Hub at Rundu, Kavango East Region. The ALIVE Hub initiative will equip project participants with entrepreneurial skills to establish sustainable businesses. READ MORE LASG Unveils “Empower Lagos” Initiative to Foster Economic Growth
The Lagos State Commissioner for Wealth Creation and Empowerment, Hon. Akinyemi Bankole Ajigbotafe has flagged off the“Empower Lagos” initiative as part of the economic efforts to curb youth unemployment and empower Artisans through sustainable wealth creation programs to enhance the socio-economic development of Lagos State READ MORE Nigeria Partners with World Bank to unlock $300 Billion in Capital The Federal Ministry of Housing and Urban Development has announced plans to collaborate with the World Bank Group on a National Land Documentation and Titling Programme in Nigeria. This initiative, highlighted at the “Nigerian Livable Cities” workshop, aims to transform the land into a substantial economic asset by significantly increasing land formalization in the country. READ MORE SMEDAN Seeks to Bridge Gap Between Nigerian and U.S. Small Businesses
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) aims to bridge the gap between Nigerian and U.S. small businesses by fully leveraging the African Growth and Opportunity Act (AGOA) to foster growth, industrialization, job creation, and improved production quality for Nigerian SMEs. READ MORE IDEA Africa Launches Startups and Talent Enhancement Program (STEP) to Empower Startups in Nigeria
With the support of the UK-Nigeria Tech Hub, IDEA Africa has announced the launch of the Startups and Talent Enhancement Programme (STEP). Applications are open until August 31, 2024. READ MORE NNPC to Boost Crude Oil Production to Two Million Barrels Per Day
The Nigerian National Petroleum Company Limited (NNPC) has announced its goal to increase crude oil production to two million barrels daily by the end of 2024. This follows a rise in daily production from 1.27 million barrels in June to 1.6 million in July, as reported by the Nigerian Upstream Petroleum Regulatory Commission. READ MORE Nigerian Government Distributes Free CNG Conversion Kits to Boost Affordable Transportation The Nigerian federal government has distributed free Compressed Natural Gas (CNG) conversion kits and cylinders to companies for the conversion of vehicles of commercial transport operators in Abuja, Niger, Kogi, and Nasarawa states. READ MORE Feature ArticlesAfrican Product Managers and Startups Essential Skills for Driving Digital Innovation by Ahmed Idrìs As technology continues to disrupt and redefine markets, product managers stand at the nexus of innovation and execution. The skills they bring to the table can be the difference between a startup’s meteoric rise or its untimely demise. This article lists the essential product management skills indispensable for driving digital innovation and navigating the complex startup landscape. READ HERE Opportunity GaloreCall For Applications: AgroHack Challenge 2024 ( up to one Million naira)
Are you a budding entrepreneur with a passion for agriculture? Do you have innovative solutions to transform Nigeria's food system? Then the AgroHack Challenge is your platform to shine! We're seeking brilliant minds to develop groundbreaking ideas that can revolutionize the agricultural sector. APPLY HERE Call For Applications: Jasiri Talent Investor Program (cohort 7) For promising Entrepreneurs with the potential to establish high-impact businesses.
Are you a visionary with a groundbreaking business idea? Jasiri is seeking exceptional entrepreneurs to join Cohort 7 of its Talent Investor program. They're investing in individuals with the potential to create high-impact ventures that transform lives and communities. APPLY NOW Call For Applications: CIHEAM Youth Innovation Award 2024 (€10,000 grant)
The CIHEAM Youth Innovation Award is calling for groundbreaking solutions to accelerate the green and blue transition in the Mediterranean. Win a €10,000 grant and be recognized for your contribution to sustainable food systems. APPLY HERE Call For Applications: The Agribusiness Challenge Fund For SMEs in Africa ( Up to US$ 2,500,000)
Are you an African agribusiness SME with a vision to transform the continent's food systems? The Agribusiness Challenge Fund is offering up to US$2.5 million to support innovative and scalable businesses. This is your opportunity to access vital capital and technical assistance to grow your enterprise and create sustainable livelihoods. APPLY HERE Call For Applications: Google for Startup Canada Program (10-week equity-free accelerator program for startups based in Africa) Google for Startups Canada is offering a 10-week equity-free accelerator program designed to propel your business forward. Get expert mentorship, access to Google’s resources, and invaluable networking opportunities. Are you a high-potential African startup ready to scale? Then don't miss this! APPLY HERE Call For Applications: LSETF-USADF Training for Digital Skills and Sales Associate (Fully- Sponsored)
Are you UNEMPLOYED and seeking an opportunity to develop yourself to secure employment as a Digital Skills Associate or Sales Associate after 6-weeks of Employability Training? Simply Exponential Consult Limited (SECL) is a Vocational Training Centre (VTC) and Partner to the LSETF-USADF Employability Program for the training of Digital Skills Associate or Sales Associate. SIGN UP HERE Call For Applications: Bluerock Accelerator Program ( Up to N15 million Investment)
Are you a founder of a high-growth business with +18 months of operational experience? Bluerock Accelerator is seeking innovative ventures to join its program. It's strictly for High-growth businesses in AgriTech, FinTech, HealthTech, EduTech, MobilityTech & Creatives. READ MORE Entrepreneurial OriginsLast week's trivia What is the name of the popular African startup accelerator program that provides critical skills training, funding, and support in software development, business, and communications to Africa's tech entrepreneurs? A) YCombinator B) 500 Startups C) Techstars D) Meltwater Entrepreneurial School of Technology (MEST) Answer: D) Meltwater Entrepreneurial School of Technology (MEST) Today's Trivia Who is the founder of the African entrepreneurship platform, VC4Africa? A) Ben White B) Bill Zimmerman C) David van Dijk D) Stephen Gugu What's the correct answer? Help Us Improve! Take our quick 2-minute survey to share your thoughts on how we can make our newsletter more engaging and relevant to you. Your feedback will help us create content that resonates with you. [https://msmeafrica.substack.com/survey/816056] Thank you for your time, and we look forward to hearing your thoughts! Fun Facts about Entrepreneurship in AfricaDid you know: Nigeria has the highest number of female entrepreneurs in Africa, with 40% of women-owned businesses. (Source: World Bank) Till next time Ododoola, MSME Africa MSME Africa Pulse is free today. But if you enjoyed this post, you can tell MSME Africa Pulse that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments.
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Saturday, 3 August 2024
It’s Time to End Bad Governance
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