An Underdog's Triumph🥇🏃🏽‍♂️🏃🏽‍♂️

#180: “Look at my success. I didn’t achieve it overnight. It has been the product of many years’ struggle, and every year, my times have shown gradual improvement.” Mo Farah

Nov 24, 2023

Hello Venturer,

Who doesn't love a good story of an underdog's triumph? I for one, have always been a fan. There is just something about people with many odds stacked against them, who flipped the script and became victorious that gives me a rush of hope.

Let me tell you about the inspiring journey of a boy born in Somalia, trafficked to the UK illegally, and forced to work as a domestic servant only to rise as an Olympic star. Today, the world knows him as Mo Farah. And let's not forget how Africa is challenging and dispelling longstanding stereotypes to emerge in a positive light.

More recently, my attention has been drawn to the story of Transsion, a company that lacks a dominant presence in more influential markets like Europe or North America. Against the odds, it has become a titan in the global smartphone market.

This week, we look at how a Chinese company strategically leverages Africa to dominate the global smartphone rankings.

Oh and, speaking of wins, someone will emerge winner tonight at the Africa’s Business Heroes Grand Finale in Kigali, Rwanda. We know that winning feeling too because the Grand Journalism Excellence Award is coming home.

Boluwatife Areola

Content developer, Ventures Africa

What’s new?

A Chinese company is leveraging Africa to dominate the global smartphone rankings

The name “Transsion” doesn’t come up often in the smartphone conversation. Yet this company is one of the biggest smartphone makers in the world. The Chinese company, which sells phones under the Tecno, Itel, and Infinix brands, has quietly climbed to the fifth spot in the global market, according to Canalys, IDC, and Omdia. Read more.

Ethiopia’s flower industry may wilt under the Amhara conflict

Ethiopia is known for its colourful and fragrant flowers, which it exports to the world. Its horticulture sector is the world’s fifth-largest. But it’s facing a major crisis due to the escalating violence in the northern Amhara region. Read more.

My pivot journal: How Oladimeji Balogun learnt to manage communities and expectations

Oladimeji Balogun started life with dreams that didn’t work out but found other ways to gain the fulfilment he wanted. He planned to impact lives by saving them, literally. But now, he impacts them by managing them. Here is Balogun’s pivot journal.

African countries push for a fair and transparent international tax system

Developing countries have accused diplomats from the European Union and the UK of trying to “kill” proposals that seek to give more voice to them in international tax negotiations. Read more

Inflation and currency weakness are squeezing Zambia’s economy

Zambia, a landlocked country in southern Africa, had the spotlight last year for economic progress. Its local currency, the kwacha, had a splendid run against the dollar, and inflation fell. But it seems that tale is over as this year’s experience has been the opposite. Read more.

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After ten years, Nigeria’s digital publishing giant is closing shop

Okada Books, a Nigerian digital publishing and bookselling platform, has announced that it will shut down on November 30, 2023, due to “insurmountable challenges”. The platform, founded in 2013 by Okechukwu Ofili, has helped over 8,000 writers become authors for free, and has over 20,000 books available for download. Read more.

Pharmexit: price of medications in Nigeria rise, posing economic hardship

In August, GlaxoSmithKline (GSK) announced its strategic shift in operations, revealing plans to cease its activities in Nigeria. This decision was prompted by a thorough exploration of alternatives, aiming to transition towards a third-party distribution model for its pharmaceuticals and consumer healthcare products. Read more.

Rwanda’s troubled past impacts its UK asylum deal

The UK Supreme Court ruled that Rwanda was not a safe place and it would be considered illegal to relocate refugees there. PM Rishi Sunak’s plan to send asylum seekers to Rwanda has been botched due to the ruling. Read more.

Lagos state needs to let the poor breathe

President Tinubu’s impassioned plea, “Let the poor breathe, don’t suffocate them,” serves as a touching commentary on the glaring paradox of the impoverished masses under his administration. This sentiment is underscored by the recent findings of the African Development Bank (AfDB), which shed light on the suffocating financial policies disproportionately affecting the underprivileged in Lagos state. Read more.

Weekly economic index: Showmax dethrones Netflix, crypto ATMs in SA and Nigeria settles oilfield deal suit with ENI.

Here are three big stories from Africa’s business and policy landscape you (probably) didn’t miss but should keep in mind this week. Read more.

The VA Pod

In this week’s podcast, Chioma Ude shares insights on the business of the Nigerian movie industry and the advancements that led to its increased global appeal.

Press play👇to listen to a snippet of our latest podcast.

Ijeoma Onah discusses the intricacies of marketing and exporting Nollywood content globally.

BizHive Entertainment

The New Wave of Nigeria’s Soft Power

Soft power - To attract, persuade, influence, and shape preferences through culture. Nigeria has effectively done this through entertainment. Our music, films, and content transcend borders, commanding global attention. As master storytellers, we are leveraging new technologies to amplify our cultural influence.

Read our latest magazine issue to learn more