News
6 Sacrifices You Must Make to Be a Successful Entrepreneur
Success does not come cheap. It requires hard work, perseverance and a lot of sacrifices to achieve it. It is difficult to abdicate something you are used to. However, when you think of the results of your sacrifice, you should be willing and ready to do away with them. Jumia Travel, the leading online travel agency shares the sacrifice you must make to be successful.
Time
We all have 24 hours. For many, this is never enough. However, if you really want to be successful, you have to plan your schedule and invest your time wisely.
In addition, you have to cut off the things you waste time on and refocus them on important and relevant things. You barely have any free time if you are pursuing success.
Sleep
In this case, you have no choice than to deny yourself sleep. Yes, you may be tired after work and the weekend is the only time you may have to sleep. So, due to this, you sleep whenever you are opportune.
Successful people sleep but they wake up at a point in time at night to do the things that will bring them that desired success.
Friends
The hard truth is you only need friends that key into your dreams and ambitions. If you find that kind of friend, you should keep that person.
Of course, you have other friends that you won’t like to lose but you have to. In some situations, you may have them as friends but your level of communication will reduce as you are too busy chasing success.
Personal Wants
You have to be very disciplined if you want success. You need every penny. So, you have to quit buying all those extravagant stuff. And even if you do not buy them, you still need to make the personal sacrifice to deny yourself of certain wants.
Social Life
Partying and clubbing every weekend has to reduce. In fact, if you are obsessed with success, you are not supposed to have a social life. That is extreme you may say. But the truth is you have to significantly cut down your merry-go-round.
Relationships
It can be difficult to balance relationships and work. But if you have someone that understands that you have to pursue success, then stay with that person. Clearly, you have to find time to also stoke that relationship. If you cannot balance both ends, just quit and focus on one. Relationship or success? Success it is.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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