#9: Saas Unicorn Zoho Invests in Indian Manufacturing.

Hello Readers,

Welcome to another edition of Jam's Reading List! This newsletter is all about curating some of the best content out there that matters in Business and Finance of the previous week. We know that sometimes you might be busy all week, so we've summarized the key points to make sure you get the gist without the fluff.

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Dangote Refinery Exports to Europe

Nigeria’s Dangote Refinery has exported its first jet fuel cargo to Europe, marking a significant milestone. British Petroleum (BP) is transporting 45,000 metric tons of jet fuel from the refinery to Rotterdam, showcasing the facility's rapid production scale-up and compliance with European standards. This development could reshape global energy dynamics, with the refinery aiming to shift West African trade flows and expand its export portfolio. The refinery's operations signal Nigeria's potential as a net jet fuel exporter by the end of 2024. I am very excited about this

For more details, visit

Saas Unicorn Zoho Invests in Indian Manufacturing.

Zoho Corporation has invested in two Indian manufacturing startups, Karuvi and Yali Aerospace, to enhance deeptech manufacturing capabilities. Karuvi, founded in 2022, focuses on mechatronics and aims to produce power tools locally, creating jobs in rural areas. Yali Aerospace, also founded in 2022, develops drones for various applications, including healthcare. This investment aligns with Zoho's philosophy of fostering local talent and innovation to boost economic prosperity and technical skill development in smaller towns and villages.

For more details, visit

Kenya data analytics Startup Gro Intelligences winds down

Gro Intelligence, a data analytics startup based in New York and Nairobi, is shutting down after failing to secure additional funding. Despite raising emergency funds in March 2024 and previously accumulating $117 million in total, the company struggled with payroll and pension payments. The closure follows mass layoffs and legal issues, including labor violations and an SEC investigation for alleged fraud. Gro Intelligence, founded by Sara Menker in 2012, aimed to provide actionable insights for agricultural companies but faced challenges with product-market fit and a tough fundraising environment.

For more details, visit

First Bank Employee on the diverts ?40 billion into 98 accounts

A First Bank employee in Nigeria, Tijani Muiz Adeyinka, is on the run after allegedly diverting ?40 billion (about $29 million) into 98 accounts, including his wife's. The fraud, which involved misusing reversal authority, went undetected for almost two years. The bank has initiated legal action and obtained court orders to freeze the affected accounts. The incident was uncovered following a customer complaint, leading to internal investigations and police involvement.

For more details, visit

Podcast Corner

Angrymoney Podcast (My Pod)

In this conversation, Cornelius A. , the developer experience lead at Flutterwave, shares his journey and insights on solving problems, technology implementation, and career navigation. He discusses best practices in developer experience, the importance of empathy, and guiding non-technical founders.

For more details, visit

All-in Pod

In this episode, Jason introduces his new production company (lol). Sacks and Chamath explain their Trump fundraiser involvement. The team discusses the House COVID investigation, potential cover-ups, and what's next. They delve into the issue of unelected bureaucrats in three-letter agencies. Chamath shares insights in "Crypto Corner." The episode also covers Salesforce's 20% drop and market stability concerns, the Trump verdict on 34 counts of falsifying business records, and speculations about a potential AI market correction.

Alex Hormozi

Alex Hormozi shares insights from his month-long experiment of posting exclusively business-related content. He highlights the importance of targeting business owners, presenting his findings with clear evidence. Hormozi's strategy involves creating focused, high-value content to attract a specific audience, leveraging data and feedback to refine his approach. This Video is a powerhouse.

I hope you enjoyed this edition! If you did, let me know what you liked the most. Don't forget to like and share. Thanks for being amazing, and have a wonderful week ahead!