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    Alibaba Founder Jack Ma Arrives Nigeria, Advocates Support for Young Entrepreneurs at Nigerian Digital Economic Summit

    Tomiwa OnaleyeTomiwa Onaleye
    November 14, 2019
    Alibaba Founder Jack Ma Arrives Nigeria, Advocates Support for Young Entrepreneurs at Nigerian Digital Economic Summit

    Jack Ma, co-founder of Alibaba,was the guest speaker at the first Nigerian Digital Economic Summit (NDES) which held today, November 14, in Abuja.

    Alibaba Founder, Jack Ma Arrives Nigeria, Advocates Support for Young Entrepreneurs at Nigerian Digital Economic Summit
    Vice President Yemi Osinbajo and Jack Ma, Co-founder of Alibaba

    Ma who arrived Nigeria earlier in the day was received by the Nigerian Vice President Yemi Osinbajo.

    In his welcome speech, the business tycoon said that he came to Nigeria with a delegation of Chinese investors to assist the country economically. He added that he is aiming at assisting Nigeria with his four ‘Es’ agenda (E-infrastructure, Entrepreneurship, E-government and Education).

    His Excellency, @ProfOsinbajo Vice President, Federal Republic of Nigeria meeting w/ Jack Ma now. pic.twitter.com/5DXEsmQ8km

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    The Nigerian Digital Economic Summit titled ‘Leveraging the Digital Economy for Trade & Investment’ was opened by Otunba Niyi Adebayo, Minister of Industry, Trade and Investment.

    During the summit’s panel discussion, Jack Ma spoke about the difficulties he had in getting investors during the early stages of Alibaba.

    I got use to being rejected.
    * People don't see the mistakes we made.
    We have to have an open mind as entrepreneurs.
    – Jack Ma#NDES2019 pic.twitter.com/hajlKfUTna

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    It was very difficult to convince investors from the beginning.
    We created opportunities for the future. I had people who believed in the vision we created together. Our investors saw that and believed too.

    – Jack Ma#NDES2019#NigeriaDigitalEconomySummit pic.twitter.com/BIZRWCrQkH

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    He encouraged entrepreneurs to believe in their product, that it was only then investors will believe.

    Entrepreneurs, you have to believe first in your services.
    – Jack Ma#NDES2019 pic.twitter.com/uaRoOe06Ys

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    Talking about his success, Ma revealed that his passion to solve problems help him get bigger. As a company grows bigger, he pointed out, an entrepreneur gets more money along with more problems, more customers, more work.

    My passion is trying to solve problems.
    I take challenges and solve problems to get bigger.
    – Jack Ma#NDES2019#NigeriaDigitalEconomySummit pic.twitter.com/VbeiLXgiwx

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    More money, More problems, More customers, more work.

    -Jack Ma#NDES2019#NigeriaDigitalEconomySummit

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    He also highlighted some points to note as an entrepreneur’s company grows bigger.

    The bigger your company is, the bigger the problem /challenges, the bigger customers too.
    – Trust your person, work harder, find people that are smarter than you.
    – Prove to people why they should choose you.
    – Being an entrepreneur is a most exciting thing.
    – Jack Ma#NDES2019 pic.twitter.com/ulMe85idvp

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    A good business should focus on the customers.
    – Private sectors provide more secured benefits and innovations.
    – Build up policies that encourage businesses.

    – Jack Ma#NDES2019#NigeriaDigitalEconomySummit

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    This trip follows Ma’s first visit to Africa, where he spent time in Rwanda and Kenya in 2017 and launched a $10 million fund for African entrepreneurs.

    Addressing the panelists, Ma advocated that successful entrepreneurs should help empower upcoming entrepreneurs.

    He wasn’t alone, Mr Tunde Folawiyo, CEO Yinka Folawiyo Group, also said that young entrepreneurs needed support.

    We need to support the young entrepreneurs. Local entrepreneurs have to strive.
    We need to invest and support these entrepreneurs towards making the industrial revolution a reality.
    – Mr Tunde Folawiyo CEO Yinka Folawiyo Group#NDES2019#NigeriaDigitalEconomySummit pic.twitter.com/7yf6ywePFk

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    Ma added that the way to make people rich is through entrepreneurship.

    Making people rich is through entrepreneurship.
    * Empower and support entrepreneurs
    * Make internet accessible to everyone.
    * Educate every one
    * Africa should be on the internet

    -Jack Ma#NDES2019#NigeriaDigitalEconomySummit pic.twitter.com/tZUdhvoD2o

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    When the panel asked Ma about how to build governance for a robust digital economy, he advised that the government should not take taxes out of small startups.

    “Governments should not take tax out of small startups, it is like eating meat out of a mosquito’s leg. Startup founders should be seen as heros, they are creating jobs, it’s the best gift a country can get” Jack Ma @foundation_ma here at the @ndesummit pic.twitter.com/p7P4QqAFfE

    — Henrik Landgren (@hlandgren) November 14, 2019

    Other speakers at the event were the Ambassador representing Anna Hallberg, Minister for Foreign Trade of Sweden.

    Amb @cmgrans holding the opening speech at @ndesummit representing Anna Hallberg, Minister for Foreign Trade of Sweden 🇸🇪🇳🇬#NigeriaDigitalEconomySummit #NDES2019

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    Kojo Boakye, Head of Public Policy in Africa for Facebook who spoke about the social network’s investment in Nigeria and Africa.

    Head of Public Policy in Africa for Facebook now on stage talking about the social network's investment in Nigeria and Africa at large.
    -Kojo Boakye#NDES2019#NigeriaDigitalEconomySummit pic.twitter.com/SPVa4I7i9T

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    And MasterCard representative who expressed the companies commitment to Africa’s digital future.

    MasterCard representative on stage talking about the company's commitment to Africa's digital future.#NDES2019#NigeriaDigitalEconomySummit pic.twitter.com/UQVaFtITvx

    — #NDES – Nigeria Digital Economy Summit (@ndesummit) November 14, 2019

    Ma is the second global tech founder and investor to visit Nigeria in the past week after co-founder and CEO of Twitter, Jack Dorsey, toured the country.


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


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    Tomiwa Onaleye

    Tomiwa Onaleye

    Tomiwa Onaleye is a content writer that mines emotion bred from words. He is an avid lover of gadgets and Tech World. He graduated with B.Sc Mechanical from the prestigious University of Ibadan.

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