Month: June 2012

Curated Content

Mr Linux gives a rare interview to the BBC

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The success of Linux is in large part due to its open source nature. Why do you think people have been willing to give up so much time without financial reward?

In many ways, I actually think the real idea of open source is for it to allow everybody to be “selfish”, not about trying to get everybody to contribute to some common good.

In other words, I do not see open source as some big goody-goody “let’s all sing kumbaya around the campfire and make the world a better place”. No, open source only really works if everybody is contributing for their own selfish reasons.

Now, those selfish reasons by no means need to be about “financial reward”, though.

Read the full interview here.

Curated Content

The power of asymmetric connections

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Is your business working in an asymmetric environment? Here’s a guest blog on why making asymmetric connections can prove invaluable to entrepreneurs…

We’re programmed to like, trust, admire, date and – yes – do business with those like ourselves. A combination of geography, profession-identification, culture and social groups contrive to connect us “symmetrically”. Consciously or unconsciously, we spend most of our personal and professional lives with those who are recognisable and who seem safe – in part because we see ourselves in the other.

The price of this comfortable, symmetrical environment is to miss out on invaluable business opportunities.

The Kenyan automobile entrepreneur who meets the London investor. The American inventor of a revolutionary shoe that raises money for trafficked women who connects with the European MTV executive. Connections between two different worlds, “asymmetric connections”, are the hardest to make. They often feel uncomfortable at first. But they are the most revolutionary and rewarding in business.

Read the full blog posting here.

Curated Content

James Mwangi from Kenya named Entrepreneur of the Year 2012

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Dr. James Mwangi, CEO and Managing Director of Kenya’s Equity Bank Limited was tonight named the Ernst & Young World Entrepreneur Of The Year 2012 at an awards ceremony held in Monte Carlo’s Salle des Etoiles. James was picked from among the 59 country finalists vying for the title across 51 countries, each of whom had already been named the Ernst & Young Entrepreneur Of The Year in their home country.

Equity Bank is the largest bank by customer base in East and Central Africa and the largest African majority owned company in the region. The bank has more than seven million accounts representing over half of all bank accounts in Kenya. It also has operations in Uganda, South Sudan, Rwanda and Tanzania.

Ruben Vardanian, President, Troika Dialog and Chair of the judging panel said, “Not only has James really transformed people’s lives across Africa by offering them access to funding that they have never had before, Equity Bank continues to grow quickly through a strong financial performance.”

“I’m honored to accept this award on behalf of the people and customers of Equity Bank,” said James. “This is a global recognition for Africans who are embracing the power of entrepreneurship to change the economic and social state of Africa.”

Maria Pinelli, Ernst & Young’s Global Vice Chair for Strategic Growth Markets said, “James has been pivotal in the transformation of Equity Bank into one of Africa’s brightest business success stories. His is truly an inspirational story of entrepreneurial spirit with an innovative business model that has the potential to be replicated globally.”

Jim Turley, Global Chairman and CEO of Ernst & Young, said, “Over the past 26 years, entrepreneurs have done more than any other group to stimulate innovation, job creation and prosperity during both periods of growth and in challenging economic conditions. James epitomizes the vision and determination that set entrepreneurs apart and is very worthy of the title Ernst & Young World Entrepreneur Of The Year 2012.”

Broadcast coverage and an interview with the winner will be available to download for broadcast and online use, at: http://digitalnewsagency.com/stories/6683-ernst-young-world-entrepreneur-of-the-year-2012-announced-in-monte-carlo