2023 Election;

All I can say is....... Osaretin Victor Asemota na dem be dis!!!! I wonder what those clapping actually understood from his statement 🤔

Osaretin Victor Asemota POS operators in my area don't go to the bank/ATM for cash, they source cash from people who want to deposit their cash. Sometimes they pay those people to give them cash (fuel station managers for example).

The main problem is terrible banking services, not POS operators.

Was the naira falling every day for nearly a month backed by fundamentals?

I think The Crypto Warrior nails it here.

Build businesses first before investing. This is why I rarely discuss investment strategies with people and would rather discuss how to build. Builders learn more from other builders.

Watch this space.

Any standard created today is already obsolete because it becomes a threshold competence and not a differentiator. It is from this video below of a talk with Steve Jobs that I finally understood what we must do. We must create polished rocks from the rough by making ALL learn.

Munger and Buffet were successful because they found older standards obsolete and built new ones. In Africa there are already standards which don’t work well and are clearly obsolete. They have just never been properly documented. It makes creating new standards difficult.

Apprenticeship and mentorship are great but the are very difficult to scale. If the media has to be used then it must be programs that are directly educative and about shared experience. A lot of entrepreneurs (including myself) share experiences but those aren’t standards.

I am happy my children got exposed to it early and learn weekly too. Having that chat with my son made me realize that we must do more with those who are older than them too. The media is NOT where they should learn about business, it is from entrepreneurs and builders.

I explained to my son what that type of investment meant and said he understood it from Shark Tank. I can’t thank Mark Cuban and others enough for the lessons they are teaching generations weekly. The advice on strategy and operations is much more valuable than they realize.

Some of the richest people I know personally are not just investors but businessmen who run businesses or help manage businesses that they have invested very heavily in. True investors are businessmen people and not speculators. This is why I love PE a whole lot more now.

Crypto is having a rebound now and frankly, I now understand why Munger and Buffet called it rat poison. The rats that get killed provide exit liquidity. The stock market is not much different. The real value is investing in businesses themselves and helping to run them.

It is not about buying dollars or pounds or earning the same abroad. It is about thinking strategically about where the world is going to tomorrow. It was why I doubled down on crypto two years ago and put almost all my liquidity there which didn’t turn out well.

This is one reason why I never envy anyone who is wealthier today. My cousins and their father had 20 million Naira kept in a safe at home as last resort for the family to depend on if there was any problem. The Naira was much valuable then. Their decision is now very stupid.

Clogs to clogs in 3 generations is about lack of dynamism in assets and the risks of macro forces beyond our control. My maternal grandfather had the largest rubber plantation in his village at the time when rubber was the most valuable cash crop in Nigeria. It is worthless now.

I explained to my son while walking with him yesterday why he must work harder than us. My grandfather and father worked hard to build what we inherited, and when my son was born 10 years ago, those things had a lot of value. Now they are worth much less. We don’t depend on them.

Osaretin Victor Asemota For Tg, Moov Africa runs Fluzz and Togocel runs Tmoney.

Easy and seamless.

No silly added charges especially with Tmoney.

Osaretin Victor Asemota Americans have this condescending thought process that the entire world revolves around them and their culture.

Osaretin Victor Asemota I was in Accra 2yrs ago and I noticed almost all the shops there accept MoMo. A swift transaction with just a phone number.
But in Nigeria, a fuel station will tell you they don't accept a bank transfer.

I still wonder when we're going to get it right in Nigeria. . .

Osaretin Victor Asemota Just to note, you are likely going to be able to withdraw more in cash over the counter than via an atm machine.
POS vendors/merchants might be the reason why our ATM’s don’t have cash, but it’s not because they withdrew it.