Enjoy this Week in Pictures….
a Port Harcourt-based business and technology innovation hub in the Niger-Delta region of Nigeria has announced it is accepting applications for its incubation program.
The incubation program is aimed at helping entrepreneurs in the Niger-Delta region to launch and scale their businesses through collaborative ideation, marketing, sales, fundraising and so on.
Focus Hub will provide entrepreneurs with mentorship & coaching, office space & resources, networking & introduction to venture capital firms, access to funding, among other things.
The program is open to both early or growth stage startups, though interested startups and/or entrepreneurs must meet certain criteria to be considered for the program, chief of which is that they must be based in one of the nine Niger-Delta states – Delta, Akwa Ibom, Bayelsa, Rivers, Abia, Cross River, Edo, Imo, and Ondo.
Other criteria include startups’ idea should solve a social problem in the Niger-Delta region and must be innovative and technologically viable, have a working prototype or minimum viable product (MVP), have a realistic funding strategy and others.
After the application deadline, shortlisted applicants will participate in a pitching contest for a chance to be accepted into the incubation program which will run for a period of 6 months, though this could be renewed subject to conditions.
Entrepreneurs and Startups, including those led by women should apply for the program on or before October 20, 2015.
Focub Hub was founded by University of Leeds-schooled Godson Ohuruogu and Ikechukwu Uche, who’s currently completing his MSc at Imperial College, London, with the mission of fostering technology innovation and entrepreneurship across the Niger Delta region.
According to a recent PricewaterhouseCoopers (PwC) report, Nigeria’s entertainment and media industry is expected to grow from $4 billion USD in 2014 to $8.1 billion in 2019, at a compound annual growth rate (CAGR) of 15.1%.
While noting that the Nigerian market is heavily driven by consumer spend, the report noted that Internet access will be the main contributor to market expansion with revenues accounting for a remarkable 82% of the growth through to 2019.
“Excluding Internet access, television, filmed entertainment and video games are the areas where Nigerian consumers are expected to spend the most over the next five years,” reports PwC.
Here is a breakdown of the country’s biggest media entertainment segments, bench-marked with global reports, according to PwC.
Internet access is proving to be a major revenue source globally. According to the report, Internet access and other media found online is projected to draw over $686.2 billion by 2019, up from $449.5 billion in 2014. In Nigeria, Internet access revenue is expected to climb from $2.1 billion in 2014 to $5.6 billion by 2019 — dwarfing all other consumer spend entertainment and media categories — and making it the largest contributor to Nigeria’s total entertainment and media revenues, at a compound annual growth rate (CAGR) of 21.4% in 2019.
Global pay-TV subscriptions are set to reach a market value of $243.8 billion by 2019. In Nigeria, the market is said to be benefiting from a strong economy, with annual real GDP growth averaging over 6% over the last five years, leading to demand from both consumers and advertisers. Thus, the combined revenue from TV subscriptions, advertising, and licence fees is projected to reach $1.1 billion by 2019. It is estimated that one in four households will have a TV subscription in Nigeria by 2019 and although cable and IPTV services are currently limited, the satellite sector is still growing.
While Hollywood and other global film markets are expected to hit $104.6 billion by 2019, consumer spend on filmed entertainment in Nigeria is expected to steadily increase from $183 million in 2014 to $295 million, at a compound annual growth rate (CAGR) of 10.1% by the end of the forecast period. However, revenues from the black market were not included in the report which, if added, the actual consumer spend would be much higher.
Although the global video game market is expected to reach $93.2 billion by 2019, Nigeria’s video game market is understood to be quite small. According to the PwC report, revenue from video games will reach $177 million by 2019, up from $91 million in 2014. However, consumer spend on video games is set to see the sharpest rise in forecast CAGRs at 14.3% by the end of 2019.
The global music industry is, indeed, going through a rough time, as revenue from recorded music is expected to continue its decline towards 2019. As a result, the overall music industry will see CAGR of 0.8% through to 2019, with revenues totaling around $47 billion. In Nigeria, it is expected to grow from $51 million in 2014 to $88 million in 2019, with a sharp rise in forecast CAGRs at 11.4% by year-end 2019. However, just as with films, music revenues from the black market were not included in the report which, if added, will significantly increase consumer spend in this entertainment sector.
Kongo: Power and Majesty is a new exhibition showcasing art objects and writings from the 15th century through the 20th century of what is now the Republic of the Congo, the DRC and Angola. Opening September 18 at The Metropolitan Museum of Art, the presentation will explore how elegant woodworkings, delicately woven textiles, as well as religious and political writings reflect a history of encounters between Central African and European leaders.
Curated by Alisa LaGamma, the exhibition was inspired by the recently-acquired, rare Mangaaka sculpture (shown above), a figure that once stood as a guardian for the Kongo community. “This exhibition of Kongo art, spanning half a millenia, culminates with the historic opportunity to view fifteen Mangaaka figures gathered from institutions in Belgium, France, Germany, Italy, the Netherlands, Switzerland, the United Kingdom, and the United States,” says the Met’s director, Thomas Campbell, in his foreword to the exhibition’s catalogue.
Altogether, the show will feature 146 works of Kongo artists drawn from more than 50 institutional and private collections across Europe and the United Sates. A preview of the show’s catalogue, distributed by Yale University press, details the significance of some of the exhibition pieces: “Objects range from 15th-century ‘mother-and-child’ figures, which reflect a time when Europeans and their Christian motifs were viewed favorably, to fearsome Mangaaka, power figures that conveyed strength in the midst of the kingdom’s dissolution.”
Though most individual artists remain unidentified, the work of a few masters of Central Africa will be presented for the first time in this exhibition, including the Master of Kasadi, the Master of Makaya Vista, and the Master of Boma Vonde.
The Met will also be holding as series events in conjunction with the exhibition, including a panel in October featuring Congolese dancer-choreographer Faustin Linyekula as well as a conversation between photographic artist Jo Ractcliff, who has captured images of Angola, and author David Van Reybrouch, who has written extensively about the history of Congo. Ractcliff and Reybrouch will discuss emotional memory in art and the dominant structures of history within Central Africa.
Check out a preview of the works that will be on display below. Kongo: Power and Majesty is on view at The Metropolitan Museum of Art from September 18, 2015, to January 3, 2016.
- Fig. 169 Power Figure (Nkisi N’Kondi: Mangaaka). Kongo peoples, Yombe group, Chiloango River region, Democratic Republic of the Congo, Republic of the Congo, or Cabinda, Angola, 19th century, inventoried 1906. Wood, iron, resin, cowrie shell, animal hide and hair (monkey?), ceramic, plant fiber, textile, pigment. H. 441⁄8 in. (112 cm), W. 187⁄8 in. (48 cm), D. 141⁄8 in. (36 cm). MIBACT—Polo Museale del Lazio, Museo Preistorico Etnografico Luigi Pigorini, Rome (75909). Photo: Courtesy of The Metropolitan Museum of Art
- Fig. 116 Power Figure: Standing Female with Child (Wife of Mabyaala?) (Nkisi). Kongo peoples; Vili group, Loango coast, Cabinda, Angola, 19th century, inventoried 1885. Wood, beads, glass, fiber, copper, resin, pigment. H. 151⁄4 in. (38.5 cm), W. 53⁄4 in. (14.6 cm), D. 51⁄2 in. (14 cm). Collection Nationaal Museum van Wereldculturen, Netherlands. Photo: © National Museum of World Cultures, Leiden
- Fig. 135 Master of the Boma-Vonde Region, Power Figure: Seated Female Nursing Child (Nkisi). Kongo peoples; Yombe group, Democratic Republic of the Congo, Republic of the Congo, or Cabinda, Angola, 19th–early 20th century. Wood, metal, kaolin, glass. H. 111⁄8 in. (28.3 cm), W. 41⁄4 in. (10.8 cm), D. 41⁄4 in. (10.8 cm). Steven Kossak, The Kronos Collections, New York. Photo: Courtesy of The Metropolitan Museum of Art
- Fig. 172 Power Figure (Nkisi N’Kondi: Mangaaka). Kongo peoples; Yombe group, Chiloango River region, Democratic Republic of the Congo, Republic of the Congo, or Cabinda, Angola, 19th century, inventoried 1906. Wood, iron, resin, cowrie shell, animal hide and hair (tail of colobus monkey?), ceramic, plant fiber, pigment. H. 413⁄4 in. (106 cm), W. 173⁄4 in. (45 cm), D. 173⁄8 in. (44 cm). Wereldmuseum, Rotterdam. Photo: © Wereldmuseum, Rotterdam, photograph by Studio R. Asselberghs / Frederic. Dehaen, Brussels
- Fig. 7 Figure of Christ. Kongo peoples; Kongo Kingdom, Democratic Republic of the Congo, Republic of the Congo, or Angola, 18th–19th century. Brass (open-back cast), H 43⁄8 in. (11.1 cm), W. 41⁄2 in. (11.4 cm), D. 7⁄8 in. (2.2 cm). The Metropolitan Museum of Art, New York; Gift of Ernst Anspach, 1999. Photo: Courtesy of The Metropolitan Museum of Art
- Fig. 128 Master of Kasadi Workshop, Mask (Nganga Diphomba). Kongo peoples; Yombe group, Kasadi village, near Tshela, Democratic Republic of the Congo, 19th–early 20th century, inventoried 1937, Wood (Ricinodendron heudelotii Baill.), pigments, hide, metal tacks. H. 113⁄8 in. (29 cm), W. 67⁄8 in. (17.5 cm), D. 51⁄2 in. (14 cm). Royal Museum for Central Africa, Tervuren, Belgium. Photo: © RMCA, Tervuren, photographs by R. Asselberghs
- Fig. 84 Prestige Cap (Mpu). Kongo peoples; Kongo Kingdom, Democratic Republic of the Congo, Republic of the Congo, or Angola, 16th–17th century, inventoried 1674. Raffia or pineapple fiber. H. 71⁄8 in. (18 cm), Diam. 57⁄8 in. (15 cm). Nationalmuseet, Copenhagen. Photo: © The National Museum of Denmark, Ethnographic Collections
- Fig. 66 Garment (Nkutu) Kongo peoples; Democratic Republic of the Congo, Republic of the Congo, or Angola, 19th century, inventoried 1853 Raffia. H. 311⁄8 in. (79 cm), W. 491⁄4 in. (125 cm) British Museum, London. Photo: © The Trustees of the British Museum
- Power Figure (Nkisi N’Kondi: Mangaaka). Kongo peoples; Yombe group, Chiloango River region, Cabinda, Angola, 19th century, inventoried 1898. Wood, iron, resin, ceramic, plant fiber, textile, cowrie shell, animal hide and hair, pigment, H. 461⁄2 in. (118 cm), W. 181⁄8 in. (46 cm), D. 133⁄4 in. (35 cm). Manchester Museum, University of Manchester (0.9321/1)
(Courtesy of :www.okayafrica.com/news/kongo-power-and-majesty-metropolitan-museum-of-art-exhibition/)
The mega airport will surpass the new $475-million modern light-rail system and the project will only be second to the ongoing Grand Ethiopian Renaissance Dam project
Ethiopia has announced plans to construct a mega international airport in the vicinity of Addis Ababa on the heels of the successful completion of the $475 million, Chinese-built and funded Light Rail project.
The proposed project will surpass the widely hailed modern light-rail system and it will be second only to the Grand Ethiopian Renaissance Dam project which, at completion, “will be the largest dam in Africa,” at 1,800 metres long, 170 metres high and with a total volume of 10 million m³.
According to the Minister of Transport, Workneh Gebeyehu, the mega airport “will make Addis Ababa the aviation hub of Africa. The new airport will be the second mega project in the country (next to the Great Ethiopian Renaissance Dam),” thereporterethiopia reported.
Construction is expected to begin within two years but details of the cost of the mega project are yet to be released.
“The new mega hub will move the aviation industry in Ethiopia to a higher level,” and upon completion the new mega airport will have the capacity to handle 120 million passengers a year.
The country takes its aviation industry seriously. Despite turbulent times faced by many African airlines, Ethiopian Airlines has made remarkable progress with record-high profits and expanding into new markets. In the 2014/2015 fiscal year, the airline posted a profit of 3.5 billion birr [$175 million] and an operating profit of 4.7 billion birr [$224 million] and transported 6.4 million passengers and 329,000 tons of cargo, thereporterethiopia said.
The country’s flag-bearer has consistently upheld high standards, winning numerous awards in recognition of its consistently reliable service, innovation and a dedicated workforce. The airline recently won the Best International Airline of the year in Ghana at the Business Executive Excellence Awards and the Passenger Choice Award in the US.
According to the International Monetary Fund (IMF), Ethiopia is ranked among the five fastest growing economies in the world. The country named amongst the ‘African tigers’ could reach middle income status by 2025 through its various modernisation projects.
(Courtesy of :http://thisisafrica.me/ethiopia-plans-mega-airport-project/)
Afrofuturistic British jazz group Sons Of Kemet recently enlisted South African filmmaker Lebogang Rasethaba to direct the snazziest dance visuals we’ve seen all year for the track “In The Castle of My Skin” (which takes its name from Barbadian author George Lamming’s 1953 novel about post-colonial identity).
Shot in the Johannesburg township of Tembisa, the clip adds a philharmonic spin to South Africa’s pantsula dance video phenomenon– of which Basement Jaxx,Skrillex, and Friend Within have all caught on in recent years (Beyoncé‘s 2011 “Run The World (Girls)” video features a variation of the dance).
Set to Sons Of Kemet’s frenetic jazz tune, the video sees a group of black-tied pantsula dancers from the Indigenous Dance Academy form a symphony conducted by choreographer and IDA co-founder Jarrel Mathebula. As explained in a press release, the video is a study in contrasts that combines the chaotic energy of pantsula with the controlled sophistication of an orchestra. “Pantsula and jazz aren’t things that people were ever meant to see together; they both have rich histories with very different cultural and aesthetic values,” says Rasethaba. “But framing ideas within a different context can give them new life,” adds the Future Sound of Mzansi director.
“In The Castle Of My Skin” features on Sons Of Kemet’s new album Lest We Forget What We Came Here To Do, out last week on Naim Jazz. Watch the band’s pantsula orchestra video for the track below.
“The measure of a man is not how many times you fall, but how many times you pick yourself up.”
Teboho Mafodi’s entrepreneurial journey began when he and a friend launched a small IT business. His friend worked full time so he ended up doing 100% of the work for only 50% of the profits. The business, even though it was profitable, was put under strain because of the one sided relationship. It was during this challenging time that he met a well-respected South African entrepreneur who offered to mentor him. Exiting from his partnership he began the next part of his business journey under the guidance of his new mentor.
Teboho started his training as his mentor’s driver, taking him to meetings and learning valuable insights as his mentor discussed business with him in the car. Teboho was soon promoted to personal assistant and later was asked to be the Project Manager at one of his mentor’s companies.
Loving his new position as a Project Manager, and in true entrepreneurial fashion, he spotted an opportunity to start his own business.
Launching Rehlohonolo IT & Business Solutions in early 2008, Teboho was soon running his new venture full-time. The business was growing nicely, but without the proper understanding of business basics and finance, it went into liquidation.
Looking back on this earlier business activity, he comments “I couldn’t separate my money from that of my business. It might seem like a simple thing now, but I didn’t have anyone to ask so I just never knew.”
Not to be defeated, Teboho started a new company in 2010 called the TM Group. Focusing on Construction and Property development, he used his earlier successes and failures to build a business that promises his clients with both quality and speed, two value propositions not found often together in that sector. His business is registered with the Construction Industry Development Board and, with a Level 5 grading, can complete projects up to R8 million.
A growing business needs constant attention, guidance and advice and so it was in 2013 that he applied and was accepted at the Branson Centre of Entrepreneurship in Johannesburg. The Foundation Course assisted in the business basics and his continued journey through the Advanced Course has proven invaluable to him. “ The Branson Centre has helped me in the most amazing way. It has helped me formalise my business more. They have helped me put systems in place, formalize my record-keeping and better understand the operational aspects. The Branson Centre has also helped me see value in my business and encouraged me to constantly improve my business model.”
Since joining the Branson Centre, Teboho’s business has grown from 2 to 34 employees and his projected annual turnover for the year is R6,5 million. This is truly impressive given his humble beginnings. But it’s not just about the money. “As an individual you constantly grow and, hopefully, mature mentally and emotionally. You start realising that what you thought mattered before doesn’t matter now.” He goes on to say “It’s key to fully discover your purpose as an individual and know what you want for yourself.”
When asked about his biggest business challenge, Teboho answers without hesitation “It’s the fact that I am an entrepreneur. Banks and many other institutions regard us as high-risk because we run our own business. Our employees qualify for finance when they want to buy a property but the same banks don’t want to invest in us.”
He has great plans for his business. His company has joined the property development game and they also diversifying their client base to become more sustainable.
When asked to share a piece of advice with other African entrepreneurs, Teboho commented “Know what you want when starting out and don’t be afraid to ask for help when you need it.”
(Courtesy of :bransoncentre.co.za/entrepreneurs/teboho-mafodi/)