Day 3 of our trip was the most inspirational and enlightening. We meet with Reginald Mengi founder and Executive Chairman of the IPP Group the first part of the day. The IPP Group is one of the largest East African industrial groups. It consists of a Financial Consulting firm, soft drink bottling partnership with Coca Cola, IPP Bodycare Ltd a soap, detergent and toothpaste manufacturer and IPP Media which is composed of 11 newspapers, 2 television channels and 3 radio stations. Reginald Mengi is also an avid philanthropist.
He shared his business experience and life lessons with us. It was great. His words were simple, clear and they really connected with everyone in the class.
He shared his business experience and life lessons with us. It was great. His words were simple, clear and they really connected with everyone in the class.
(1).Mantra: “I must, I can, I will.” Do not leave room for doubt. Evict it from you mind. Don’t say if I can or I hope I will. Once you have a vision, commit to you goal and you will accomplish it. If you aspire to do something and you don’t really believe you can do it, you have failed before you got started.
(2). “Start small, but think big.” Mengi’s first business was manufacturing ball point pens on a very small scale. He bought the pen parts and put them together. A pen is a common, small thing but it became the foundation of his conglomerate. He advised us not to out rule any opportunity and to always think big, even though our start may be small. Think lake, not fish bowl.
(3).No one can increase the value you put on yourself, so always set a high value on yourself.
(4).1st Priority: Commitment, 2nd Priority: Competence
(5).To run a successful business, be confident, delegate wholly with trust, be honest in negotiations.
(6).Build a sense of belonging with your employees, “it’s our business.”
(7). “Money is a blessing.” Find ways to say thank you to: God, Customers and people in general.
(8).Do not pollute your pollute the environment in your business.
(9). “There is no such thing as individual happiness.” Here the example he gave: If you see a man walking down the street alone laughing, you will say that he is crazy. If you see 2 or 3 people walking down the street laughing together, you will say that they are happy.
(10). “Fear is the biggest enemy for an entrepreneur.” Every opportunity has inherent risk. Understand and weigh business risks.
2 comments:
Reginald Mengi has underscored the need for journalists to abide by professional ethics and respect for truth and privacy. Addressing a news conference in his office in Dar es Salaam on 10th April 2009 Mengi accused newspapers '.........sponsored by corrupt suspects, of relentlessly publishing stories full of mischief and falsehoods...' about him and his family. Given these statements one would expect that Mengi would be particularly mindful of the conduct of IPP Media.
In May 2004, Benjamin Mengi, Reginald Mengi’s brother, assigned the lease to Silverdale & Mbono Farms to British investor Stewart Middleton. In May 2005, Mengi demanded the lease back.
For a background of the 'Silverdale Case'; -
http://www.theyworkforyou.com/whall/?id=2008-02-27b.272.0
An objective examination of IPP Media’s ‘investigative’ and ‘accountable’ journalism in respect of the 'Silverdale Case' reveals a worrying story in relation to IPP Media's conduct which shows little or no regard for good journalistic practice
.
On 22nd November 2005, the Guardian and Nipashe newspapers accused Mr. Middleton of issuing a dud cheque to Benjamin Mengi for $7,000 and for forging the lease to Silverdale & Mbono Farms.
http://www.ippmedia.com/ipp/nipashe/2005/11/22/54489.html
There is no offence of issuing a ‘bogus’ cheque in Tanzania. IPP Media did not report that fact or that the Director of Public Prosecutions withdrew all the charges.
On 19th January 2006, the Guardian and Nipashe Newspapers stated that Benjamin Mengi had taken possession of Silverdale & Mbono Farms when he had not.
http://www.ippmedia.com/ipp/guardian/2006/01/19/58115.html
The publications did not state that Mr. Mengi’s application to have the investor evicted from the farms was dismissed by the High Court Moshi in 2006. Hon. Kileo. (Land Case 1. 2006).
On 24th May 2006, the Guardian accused Mr. Middleton of preventing a court entourage onto Silverdale Farm.
http://www.ippmedia.com/ipp/guardian/2006/05/24/67061.html.
The publication did not state the fact that Mr. Middleton was not present on the farm when the entourage led by Mengi attended
On 20th July 2006, Mr. Middleton was again arrested on allegations brought against him by Mrs. Millie Mengi accused of breaching a civil court order. He was refused bail and imprisoned.
http://www.ippmedia.com/ipp/nipashe/2006/07/20/70739.html
The Daily News reported on July 26th, 2006, that the High Court in Moshi ordered the immediate release of Mr. Middleton ruling that there was no evidence to support his arrest. IPP Media publications did not report these facts.
On 11th April 2007, the Guardian and Nipashe newspapers reported that Mr. Middleton and his wife had been ordered to pay 90m/-for Libel based on comments accredited to them in the Daily News on June 2006.
http://www.ippmedia.com/ipp/nipashe/2007/04/11/88175.htm
One would think, that IPP Media would know, that in cases of Libel, only the writer, printer and publisher can be sued and that the judgment was outside of the courts powers. IPP Media did not print this. The publication stated Mr. Middleton had accused Benjamin Mengi of bribery and corruption. In fact, the person accredited with these remarks was Dr. Juma Ngasongwa former minister for Empowerment, Investment & Planning. IPP Media did not state this.
In November 2005, Mengi gave his personal assurance to former British High Commissioner to Tanzania Andrew Pocock that IPP Media would not engage in defamatory practices against the British investors in the 'Silverdale Case'.
The moral of the story is, if you live in a glasshouse, don't throw stones.
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