As a banker from Lagos and a PhD candidate in banking and finance, I have spent time understanding currency and its impacts on the welfare of citizens. Writing to the African Union Congress, I posited that a single African currency under a supranational bank will struggle to improve the welfare of Africans. Why? Africa’s heterogeneous market will make it nearly impossible to design a welfare-promoting monetary policy that will work for all countries. Simply, you will end up having shocks in all the communities.
Then, moving into engineering, I saw such divergent constructs on digital platforms. But here, instead of currency playing the central role, marginal cost becomes what you have to deal with. This marginal cost is your transaction and distribution cost. What happens there determines your ability to evolve and grow as a business. This is the core of the digital platform economy.
At the Tekedia Institute Startup Masterclass, we have introduced a new course – The Economics of Digital Platforms – to help digital entrepreneurs (virtually everyone, as every business is going digital) understand how to earn digitally. Explore and grow your business here.
1. Advance your career with Tekedia Mini-MBA (June 6 – September 3, 2022): World’s Best Teachers, Online, Self-Paced, $140 (or 60,000 Naira). Click and register here.
2. Click and register for Tekedia Startup Masterclass and master the secrets of unicorn startup. The cost is 180,000 naira or $400.
3. Click to join Tekedia Capital Syndicate and own one of the best startups in Africa with a minimum investment of $10,000.