The Past And Present: Why Capitalism's Aim At Competitiveness Is Healthy For The Future.

in LeoFinance3 months ago

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Companies and organisations in many Western African Countries have come to understand something and that's the fact that you cannot get an African to buy into their venture or reckon with their brand or the services they're hoping to offer, if what they're offering isn't free, accessible to be test marketed without any cost of any sort.

For example in the past in Nigeria to have a bank account, you need to put in a minimum of five thousand naira to actually own a bank account. About 20 years ago, you needed to pay heavily to ge a sim card of a service provider, so also, to move to a high school from low school you must pay a certain of huge fee if your ward or child cannot pass the entrant exam, advertising wasn't really rampant, it's either you see a product, see it, love it choose to use it.

Now the reasons why this was so back in the days was because there was no competition. If there was not competition then that was outright monopoly. Lack of competition makes entities set standards for people to follow, it's like having your money and then having them instruct you on how to spend it.

So because means of distribution and exchange left the hands of government, providing essential servicing became really competitive and that's what why audience, the opinion and need of people became a priority. There wouldn't be marketing if there wasn't competition. Irrespective of the fact that birth rate seem to be greater than death rate in some developed countries.


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I believe we have more concentration of industries and privatisation is become more of the order of the day. So because of the excessive rate of privatisation we are having public cooperation being split and bought by several private owners which means that sole servicing are divided into many private owners making competition to be at its peak.

Capitalism is the best thing that will ever happen to a nation this is because privatisation makes business owners make better servicing a priority but government owned entities do not care about better servicing or providing quality. In the past in Nigeria we use to have an entity that supplied water to subsistent and commercial farmers and they were the sole reliable suppliers owned by the government, because of this their service was ineffective and at the end the end consumer suffered this.

But allowing diverse industries provide the same kind of service to a set target audience brings quality competitiveness. This is why we might see a bigger definition for the concept of "free" in the future. We have only two or three commercial banks in Nigeria in the past but right now everywhere you go you see different bank reps in offices providing options to people to open bank account on the go, without stress for free.

Now people have to do almost nothing to own a bank account unlike in the past where the list of requirements chases you away. This is to say that more concentration are now being placed on the need of people because if this isn't so then other brands will lower their standards just to have the attention of people and also their money too. Time changes things and that's why decentralisation no matter how hard it's frowned upon will effortlessly kick off centralisation in the financial sector of most countries, but time is just the only thing.


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Privatisation brings healthy competition and even when there's a large amount of sole proprietors coming into play the aim of businessing will not longer be to make profit but to, build, create, satisfy and maintain a customer base which in turn brings profiteering.

This means that in the past the aim was to make profit but now due to excessive competition of diverse firms providing composite services, the aim is no longer to make profit while starting out a business and this is very healthy. I don't know the downside of the purest form of capitalism. Maybe ambiguous advertising or duplicitous advertising or wrong marketing concepts but then the past was tighter, the present is loosened, the future will be free.




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Time changes things and that's why decentralisation no matter how hard it's frowned upon will effortlessly kick off centralisation in the financial sector of most countries, but time is just the only thing.

Time is what it takes to make something out of nothing and to bring about change.

The change that decentralization brings to the centralized world is still small now and with time it'll become the talk of the future and there won't be another choice for people frowning at it than to join the train.

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Exactly, decentralisation is coming like an evolution, crypto is bringing it, a glimpse of what we'd see in the future.

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Exactly what's going to happen

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If we look deeply are things today, we can obviously note that the government or better put some committee incharge are still trying to bound things instead of letting loose. For example, every organisation not have an association.

Yesterday I wanted to buy 6 pack of sachet water from a new water company. I told them that for a start it would be advisable to reduce their prices to gain customers. Their reply was that they would love to but sachet water companies has an association, there has been rules that if anybody should sell below a perticular price, they will be sanctioned for it.

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