No. 190: Nigerian Investment | Twittanic | AI Workforce

Nigeria to Negotiate Future International Investment Agreements…. To Use New Model

This is a strong quote from Yewande Sadiku, head of Nigeria’s Investment Promotion Commission, at a recent event honoring the late Professor Michael Ayo Ajomo:

“it is true that Nigeria has challenges, but when we are going into a negotiation that is not the toga that we wear, the toga that we wear is the toga of a country that is the 26th largest economy in the world and is estimated by 2050 to be the 14th largest; the toga of a country that is the 7th most populous country in the world and is estimated that by 2050 would become the 3rd most populous country.”

I don’t know anything about Professor Ajomo and look forward to learning about him. As for the quote, direct investment in the country during the Buhari administration peaked at nearly $4.5B in 2017. It will be interesting to see how investment in the country shifts once the refinery Dangote Industries is developing comes online in 2020. Dangote expects the refinery to meet all local demand and position the country to export finished oil products. This could change things for how oil investors think about the competitive landscape in the country moving forward.

Jack Dorsey is Captain of the Twittanic at TED 2019

I have been a Twitter user since February 2009. The platform has played a key role in expanding my world view and connecting me to now friends and mentors. It’s played a key role globally shaping the relationship between citizens and their governments.

The platform has also been quite harmful. The levels to which folks face harassment on the platform is quite alarming. For those who have been on the receiving end of that harassment – terrifying, I have to believe.

I’ve watched and listened to numerous interviews Jack Dorsey has given over the past couple years and there seems to be this disconnect in how quickly he plans to address the issue. Apparently, this was the case during his TED interview yesterday. I look forward to watching the video once it comes out.

Andrew Ng on Building an AI Workforce

This is a good interview with Andrew Ng, one of the foremost experts on the development of artificial intelligence from an operator and academic perspective. He makes the case here for folks to layer their expertise in various disciplines with an understanding of AI considering the impacts the technology is having across industries.

Ng also makes the case for conditional basic income rather than universal basic income for fear that folks will get trapped in certain jobs, namely gig economy jobs. I share this concern.

The one thing that frustrates me in conversations with AI experts is their positioning of certain AI developments being so far down the road that we shouldn’t spend a lot of time worrying about them. I worry how that gives space for the development of bad habits in AI technology that lead us to points of regret along this path we’re on.

No. 111: 3 Wednesday AM Reads You Should Have Gotten Tuesday

  1. This piece on Jack Dorsey being named as CEO of Twitter while keeping the CEO reins at Square is pretty poor. How do you give recent examples of folks successfully running multiple companies without discussing what is enabling them to get this done? Yet, you reach back to 1990 to pull out a worst case situation, mention that Elon Musk and Carlos Ghosn say running two companies is hard and one should avoid it, and conclude that Jack isn’t listen to the right advice. The piece should have progressed something like: 1) This is a bad case from years ago. 2) Here are some more recent cases and reasons why they avoided the bad case from years ago. 3) This is really hard and not advisable for most. Since Jack is going forward with this, this is what he should consider.

  2. Growing up, my dad often talked about the unappreciated genius of artisans in Ghana. Ory Okolloh Mwangi and Bobby Pittman, among others have touted the huge potential of the creative industry across Africa. This piece discusses the Rwanda government’s efforts to invest in its creative industry with the help of the Swedes. In the mean time, check out Oxosi – a startup bringing high-end African fashion to the US. It should be launching soon.

  3. Here’s some interesting analysis of greenfield investments in Africa still being led by the western countries. On the other side of Africa-bound FDI, here is an interesting report from the Financial Times’ Africa Summit on how African countries will deal with depressed currencies, China’s slowing, and falling commodity prices (I saw $1.90 gas the other day, and my heart fluttered).

No. 75: Why Akinwumi Adesina Won the African Development Bank Presidency

Bobby Pittman, head of Kupanda Capital, did a nice interview with the Center for Global Development where he serves as a board member alongside the likes of Ngozi Okonjo-Iweala and Lawrence Summers. He highlights the reasons Dr. Adesina won the AfDB presidency, and some things on which he will have to focus. Three points that stood out are:

  1. The AfDB picked a lot of low-hanging fruit in developing the private sector on the continent. Now that the private sector has advanced significantly, a lot of thought has to go into how to most effectively catalyze the private sector. Dr. Adesina has the track record and skill set to take the development of the private sector to the next level. 
  2. The AfDB’s focus on areas like the private sector, infrastructure, and regional development, in comparison with other development banks has contributed to its success. Maintaining that focus will continue to position the AfDB for success. 
  3. There are a lot of voices that could be part of the AfDB’s conversation, but are not currently. Work has to be done to incorporate their viewpoints into the AfDB’s work. 

I am excited about Dr. Adesina taking the reins at the AfDB and look forward to seeing the bank continue to do good work on the continent. 

No. 24: Social Media a Key Driver of the Next Wave of African Growth

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But I won’t argue the point too hard.

Yesterday evening, I attended the DC Africa Tweet up hosted by Semhar Araia. I learned about the event through Twitter and had a blast chatting it up with folks addressing the task of contributing to African development from different angles.

Of the ~60 or so people at the event, I met three through Twitter – Laura Seay, Semhar Araia, and Teddy Ruge. The statistical analysis may not make much of that, but these are three people who have a significant impact on my thinking in regards to Africa. Since joining Twitter, my connection to people doing work on the continent has grown exponentially, and has created opportunities to do a lot of cool things. There are other potential reasons for this increased connection, I do admit. Nonetheless, I am in constant communication with folks regarding Africa and I am not the only one.

In the span of a few hours, the following happened:

1. I got a better understanding of how Africare sees itself participating in African development.

2. I offered some advice to a recent graduate looking to get into international development work.

3. I connected with individuals interested in a partnership Afara Global is part of.

4. I learned about the work of an individual in London who could offer some nice value-add to one of our projects.

5. I had an incredible conversation with a fellow Greensboro-native on the opportunity areas for growth in the African-American community.

Needless to say, I left the event refreshed and excited to push forward.

Thanks Semhar and Twitter. Let’s make this happen in other cities.