TechPression

Category: Tech Careers

  • Visa opens applications for 2nd  Africa Fintech Accelerator Program 

    Visa opens applications for 2nd  Africa Fintech Accelerator Program 

    Visa, a global leader in digital payments, has opened the application process for the second cohort of its Africa Fintech Accelerator program.

    The announcement was made at Fintech Day in Morocco, where industry experts gathered to explore opportunities for enhancing digital payments and financial inclusion in the country. The initiative aims to support Seed to Series A startups operating in Africa, with specific focus areas outlined for potential applicants.

    Read also: Nigerian fintech, Cleva secures $1.5M in pre seed funding

    Application Period and Criteria

    Visa’s Africa Fintech Accelerator program is actively seeking applications from Seed to Series A startups in Africa. The application window is open until February 29th, 2023. Interested startups falling under the following categories are encouraged to apply:

    Unlocking Money Movement: Digitizing various payment types (P2P, B2C, B2B, G2C) to create new commerce opportunities, including cross-border remittances, open banking, mobile money flows, and interoperability.

    Embedded Finance: Enhancing payment and finance experiences in B2C and B2B commerce models, including installments, flexible financing, consumer loyalty, and Fintech-as-a-Service.

    Empowering Merchants and SMEs: Accelerating the growth of merchants and SMEs through digital payment solutions to foster financial inclusion, focusing on omnichannel payments, digital onboarding, working capital optimization, and value-add solutions.

    Payment Infrastructure Enablers: Building the base layer of payment infrastructure and enabling services such as authentication, fraud solutions, digital onboarding, identity management, credit scoring, risk management solutions, and data insights.

    The Future of Finance: Embracing emerging technologies like AI-powered payments, blockchain, enterprise DLT, and programmable money.

    Sustainable and Inclusive Finance: Enhancing payments technology to contribute to an eco-friendly economy, drive inclusiveness, reduce inequality, and create positive impact through financial services for underserved communities.

    Demo Day and Networking

    The program’s first demo day is scheduled for February 13th in Nairobi. During this event, startups from the first cohort will present their innovations to key players in the ecosystem, including funding partners, angel investors, and venture capitalists.

    Success of the First Cohort

    The first cohort of the accelerator program featured startups from over 18 African countries, with a notable presence from Morocco, Egypt, and Tunisia. The selection process shortlisted participants from a pool of over 1,000 applicants. The program demonstrated diversity, with 48% of the startups having a woman founder or a woman in their leadership team.

    Participants from the first cohort shared positive experiences, highlighting the comprehensive guidance and mentorship received. Ayoub Rqibi, COO and co-founder of Paytic Connect, lauded the program for providing invaluable support in clarifying goals, refining business models, and accelerating progress. The program’s network and resources facilitated the formation of strategic partnerships and access to new opportunities.

    Visa’s Investment Pledge

    Visa’s Africa Fintech Accelerator program aligns with the company’s commitment to invest $1 billion in Africa by 2027. This investment is aimed at revolutionizing Africa’s payment ecosystem and bolstering the digital economy.

    Leila Serhan, Senior Vice President, Group Country Manager for North Africa, Levant and Pakistan (NALP), Visa, emphasized the program’s role in supporting Africa’s fintech ecosystem. She stated, “This unique experience will offer entrepreneurs an opportunity for mentorship and fast-tracked growth, while also providing them access to a wider network of invaluable partners and investors.”

    As the fintech landscape in Africa continues to evolve, Visa’s accelerator program stands as a catalyst for innovation, collaboration, and sustainable growth in the region’s digital economy. Startups with groundbreaking solutions are encouraged to seize this opportunity to contribute to the transformation of Africa’s financial technology landscape.

  • Nigerian Banks register new 291,232 BVNs in two weeks 

    Nigerian Banks register new 291,232 BVNs in two weeks 

    Nigeria’s financial system faced fraud in 2014. In response, the Central Bank and all banks launched the Bank Verification Number. To prevent unlawful transactions, this 11-digit identity was connected to fingerprints and facial scans. 

    After initial security concerns, the BVN succeeded. Increased financial inclusion, decreased fraud, and simplified credit checks. It protects banks and clients in Nigeria’s financial system today.

    Bank Verification Number (BVN) registration rose to 60.49 million on January 26, 2024, indicating that banks issued 291,232 additional BVNs in the past two weeks.

    The latest Nigeria Inter-Bank Settlement System BVN registration data showed this. As of January 10, 2024, the BVN database was 60.2 million, according to reports.

    Read also: OPay vows to block accounts without BVN or NIN by March 1

    After the Central Bank of Nigeria announced that all bank accounts without BVN would be blocked in April 2024, Nigerians without the number are scrambling to get it.

    The apex bank also ordered commercial, merchant, non-interest, payment service banks, other financial institutions, and mobile money operators to electronically revalidate the BVN or NIN attached to all accounts/wallets by January 31, 2024.

    A sluggish BVN database growth. The BVN database reached 56.5 million in 2022 after 4.8 million new registrations. However, data released late last year showed that the database only rose by 3.4 million.

    In December 2021, NIBSS reported 133.5 million active bank accounts. The 2022 and 2023 data have yet to be revealed, but it is projected to be higher than 2021, which showed a significant discrepancy between registered BVN and bank accounts.

    Due to the ability to link numerous accounts to a BVN, industry observers feel the difference may be slight.

    According to the EFINA Access to Financial Services in Nigeria 2023 Survey, 5% (3 million) of banked adults lack BVNs or NINs.

    NiMC plans NIN registration app for immigrants by 2024

    CBN’s due date is April 2024

    It was stated by the Central Bank of Nigeria (CBN) in December 2018 that accounts not having a BVN and National Identification Number (NIN) would be frozen starting in April 2024.

    The apex bank said banks must apply a “Post no Debit” restriction on withdrawals, transfers, and other debits “for all existing Tier-1 accounts/wallets without BVN or NIN”.

    Until the new process is complete, unfunded accounts/wallets will remain on ‘Post No Debit or Credit’. 

    In a circular dated March 1, 2024, the CBN Director of the Payments System Management Department, Chibuzo Efobi and the Director of Financial Policy and Regulation Department, Haruna Mustapha, ordered all funded accounts or wallets to be placed on ‘Post No Debit or Credit’ and no further transactions.

  • Y Combinator selects Nigerian startup, Miden

    Y Combinator selects Nigerian startup, Miden

    Y Combinator has selected Miden, a Nigerian startup that uses its API to let businesses issue virtual cards to customers for their winter 2024 batch. 

    Miden is the second Nigerian startup to join this year’s winter cohort, following Cleva, a cross-border payment service.

    Okiemute Avworhokai and Ini Udoh established Miden in 2022 to facilitate businesses’ quick launch of various financial products in Sub-Saharan Africa. The platform offers virtual cards denominated in both USD and Naira.

    [ez-toc]Built with the needs of local businesses in mind, Miden’s API platform makes it easy for organisations to process even the most intricate financial transactions.

    Read also: Nigeria leads Africa in tech startups

    Why Miden was selected

    Core banking as a service, virtual card services, and solutions for managing corporate expenses are Miden’s main offerings. All kinds of businesses can find what they need in these offerings. Miden has gained prominence both at home and abroad as a pioneer in the financial technology industry, thanks to its cutting-edge technology and in-depth knowledge of regional market trends.

    Y Combinator’s continued goal to promote innovation in developing markets, especially in Africa, is highlighted by Miden’s selection for the winter 2024 batch. Miden is a global symbol of the thriving ecosystemSocial of African entrepreneurship, which includes other Nigerian startups such as Cleva, a cross-border payment service.

    Rapid expansion since its launch has allowed Miden to reach four countries and issue over 100,000 virtual cards. Users have praised its API-based platform for streamlining processes, reducing transaction fees, and doing away with bureaucratic hurdles associated with traditional payment methods.

    Y Combinator’s decision to prioritise African remittance startups clearly indicates the immense potential of the rapidly growing fintech industry on the continent. YC’s recognition of the innovative solutions coming from Africa’s growing startup sector is evident in Miden’s inclusion in the winter 2024 batch.

    Grey, Bloom, Plumter, Nash, Lenco, Vault Pay, ChowCentral, and Eden Care are among the African startups that Y Combinator has recently invested in, with this announcement following suit. This is a prime example of the accelerator’s unwavering dedication to nurturing talent and propelling technological advancement throughout the continent.

    To this day, Miden is committed to revolutionising how companies in Sub-Saharan Africa process their financial transactions. Miden is poised to achieve its vision of fintech innovation in the region, create new opportunities, form new partnerships, and maintain its determination for growth and impact in the future. The company is in a strong position with a notable leadership team, a diverse range of innovative products and services, and the backing of Y Combinator.

    SoftBank to lead funding for Nigerian tech startups 

    Benefits founders derive from Y Combinator

    A devoted group partner with experience mentoring hundreds of YC companies is assigned to each founder. Compared to other advisors for early-stage startups, they have more information on what it takes to create a successful business. Throughout the batch, these group partners mentor startups, read applications and conduct interviews with companies. In addition to email and Slack, you can also meet with them in person.

    The world’s top investors have invested $85 billion in YC companies. More than 50,000 startup investors’ profiles and reviews are available to our founders through the YC Investor Database.

    The founders of YC have access to the knowledge of more than 9000 YC alumni. Bookface, our private social network, gives them access to these alumni. You can post questions to the community in our forum, look up specific founders who can introduce you to others or offer advice in our founder directory, and look up companies in our company directory to find prospective clients.

    YC founders can take advantage of more than a thousand deals offered by top software companies. In various areas, including hosting, banking, cap table management, back office, and more, every YC company receives free credits or substantial discounts. The reported value of these deals by these companies is more than $500,000.

    Our team has invested in over 4,000 startups over the past 20 years, and now YC founders are reaping the benefits. Our comprehensive documentation covers a wide range of topics, including but not limited to fundraising, sales, product-market fit, mental health, hiring, and going to market.

    Joining forces with Work at a Startup and HN, we assist founders in recruiting the initial core team members—a small group of engineers and others—needed to determine product market fit. Over 150,000 people look for jobs at early-stage YC companies every single day.

  • Xiaomi launches Redmi Note 13 series in Nigeria

    Xiaomi launches Redmi Note 13 series in Nigeria

    Redmi Note 13 Series, Xiaomi’s latest smartphone, has shattered the smartphone industry again. The launch event on January 24th in Lagos, Nigeria, unveiled five unique gadgets that would reinvent the Redmi Note legacy.

    The Redmi Note 13 Pro+ 5G, 13 Pro, and 13 are the leading models with improved cameras, designs, displays, and processors. Xiaomi’s mid-range and flagship smartphones offer superior durability, immersive user experiences, and superior imaging at low costs.

    Read also: 6 Xiaomi phones to stop Miui updates in April, 2023

    Redmi Note 13 Series’ Improved Camera

    A reworked camera system for different needs elevates photography on the Redmi Note 13 Series. The 200MP camera with OIS on the Redmi Note 13 Pro+ 5G and Pro versions is impressive. 

    Users get flagship-level photos with this high-resolution camera’s unmatched detail. The 2x/4x lossless zoom concentrates on distant topics, capturing congested scenes or action. With a vast 1/1.4″ sensor and enhanced image processing, these cameras ensure high-quality images even in low-light circumstances.

    With a 108 MP primary camera and 3x lossless zoom, the Redmi Note 13 captures stunning photographs with finer details. Both models have Xiaomi’s Imaging Engine, a 200MP or 108 MP primary camera, an 8MP ultra-wide camera, a 2MP macro camera, and a 16MP selfie camera. 

    Redmi Note 13 Series’ next-generation computational photography and intense image processing make it suitable for shooting iconic photographs on any occasion.

    Visual Quality: AMOLED Display, 120Hz Refresh Rate

    Users get a premium look and feel with the Redmi Note 13 Series’ ultra-slim bezels and great photography. An 1800 nits peak brightness and 1.5K AMOLED display make the Pro+ 5G variant stand out. Both the Redmi Note 13 Pro and regular have super-clear FHD+ AMOLED displays.

    Scrolling on all devices is silky smooth with 120Hz AdaptiveSync, improving the viewing experience. This series has TÜV Rheinland Low Blue Light, Flicker Free, Circadian Friendly, and Reading mode eye protection for long-term comfort. The Redmi Note 13 Series’ in-screen fingerprint sensor is convenient.

    Redefining Durability: Corning® Gorilla® Glass Victus® and IP68

    Xiaomi has developed the Redmi Note 13 Series to be durable and rugged, giving users peace of mind under demanding environments. Corning® Gorilla® Glass Victus® coating the Pro+ 5G display protects it from drops and scratches. Touch responsiveness is increased across the series, even in rain. With IP68 dust and water resistance, Redmi Note 13 Pro+ 5G leads the pack, while the others have IP54.

    How to fix a non charging Android phone

    HyperCharge and Advanced Processors

    The Redmi Note 13 Series has powerful CPUs and long-lasting batteries to entertain consumers daily. The 4nm technology, MediaTek Dimensity 7200-Ultra processor, and enormous 5,000mAh battery of the Redmi Note 13 Pro+ 5G make it stand out. It supports 120W HyperCharge for a 100% charge in 19 minutes. 

    A MediaTek Helio G99-Ultra CPU and 5,000mAh battery allow the Redmi Note 13 Pro to charge in 45 minutes with 67W turbocharging. After these updates, the Redmi Note 13 Series offers premium capabilities at affordable costs, demonstrating Xiaomi’s dedication to providing smartphone users globally with the best value.

    Xiaomi also announced the Redmi Note 13 Series, Redmi Watch 4, and Redmi Buds 5 Pro and 5. Redmi Watch 4 features a 1.97″ AMOLED display, Redmi Buds 5 Pro deliver improved ANC and realistic sound, and Redmi Buds 5 enhances audio with up to 46dB ANC. Mi offers cutting-edge technology across its products, pushing innovation. Xiaomi is at the forefront of technology, and the Redmi Note 13 Series will delight smartphone fans.

  • Meta restricts Facebook and Instagram teen chatting

    Meta restricts Facebook and Instagram teen chatting

    Meta, a social media group, has added new features that will make it harder for young learners to get messages on Facebook and Instagram.

    The company said that the new rules that went into effect today build on an earlier rule that said adults couldn’t message kids who weren’t following them.

    Meta said that teens will no longer be able to receive direct messages from people they don’t follow or are connected with on Instagram. It includes other teens.

    Read also: “1 million Facebook accounts” may have been hijacked, says Meta

    Meta is also adding more parental controls by letting parents decide whether to let teens change the usual privacy settings or not. In the past, when kids changed these settings, their parents were told, but they couldn’t do anything about it.

    Meta’s words

    Meta announced the new features to protect teens on its social media platforms the following day. “To help protect teens from unwanted contact on Instagram, we restrict adults over 19 from messaging teens who don’t follow them, and we limit the type and number of direct messages (DMs) people can send to people who don’t follow them to one text-only message.

    We’re turning off kids’ ability to receive DMs from people they don’t follow or aren’t connected to on Instagram—including other teens—by default to safeguard them from inappropriate contact.

    Students and parents may rest assured that only persons they follow or are connected to can message or add them to group chats with this new default setting.

    Youngsters under 16 (or 18 in some countries) will utilise this default setting. Our message settings changes will be shown at the top of Instagram Feeds.

    It’s also modifying kids’ default Messenger settings, which limit communications to Facebook friends or phone contacts under 16 (or 18 in some regions).

    Sama African content moderator quits Meta

    More parental control

    Since March 2022, Meta has added additional tools to Instagram parental supervision to help parents monitor their adolescents’ online activity.

    Parents may set time limits and plan breaks, see when their child blocks or shares someone they reported, and be notified when their kid changes settings. The company is adding features.

    Parents using supervision will now be asked to approve or deny their under-16 teens’ requests to change their default safety and privacy settings.

    For instance, if a teen under supervision changes their account from private to public, Sensitive Content Control from “Less” to “Standard”, or DM settings to hear from people they don’t follow or connect to, their parent will be notified to approve or deny the request, Meta said.

  • African fintech market to reach $65 billion by 2030

    African fintech market to reach $65 billion by 2030

    As Africa continues to experience a rapid surge in fintech revenue, marked by a compound annual growth rate (CAGR) of 32%, a recent report by Boston Consulting Group (BCG) and QED Investors foresees the continent’s fintech market reaching an estimated $65 billion by 2030.

    South Africa, Nigeria, Kenya, and Egypt stand at the forefront of Africa’s fintech race, propelled by a lack of legacy infrastructure that has enabled these nations to explore innovative financial ecosystems.

     The report notes that just under 500 million people in Africa are unbanked, with slightly over 410 million classified as underbanked.

    Read also: Fintech and Edtech investments dominate South African venture capital

    Fintech as the Access Solution

    Caio Anteghini, a partner at BCG Johannesburg, emphasises the potential of fintech as a solution to the access challenge, particularly with smartphones presenting significant opportunities in payments and lending for regional champions adopting full-stack attacker models. The global and African fintech journey is still in its early stages and is poised to revolutionise the financial services industry.

    Global Fintech Growth Race

    Africa currently leads the global growth race for fintech, anticipating a remarkable 13 times growth by 2030. Latin America closely follows with a 12.5 times growth rate, while Asia-Pacific expects an 8.5 times growth and Europe a 5.5 times growth. North America, although projecting growth, is expected to see four times growth by 2030. However, it’s crucial to note that these figures represent growth rates, not overall revenue values.

    While Africa’s fintech market is expected to reach $65 billion by 2030, it is the smallest value among all regions. Latin America anticipates a market worth $125 billion, Europe $190 billion, North America $500 billion, and the Asia-Pacific market is poised to top $600 billion by 2030. QED Investors Managing Partner Nigel Morris anticipates continued growth in both developed and developing fintech markets globally.

    Globally, the financial services sector, while profitable, grapples with innovation and customer satisfaction. African companies have seized the opportunity to address market gaps through innovative fintech services, providing financial freedom to local users. Mobile money services, particularly among African telcos, are a prevailing trend. Many banks in South Africa have also entered the fintech space with innovative services, such as points-based reward systems and digital currencies.

    In Africa, where cash remains predominant, fintech emerges as a potential solution to access challenges. Most of the population is either underserved or fully unbanked. As the youngest and fastest-growing region globally, demographic shifts and increased earning power deepen the need for financial access. Africans’ first interaction with the financial services sector often occurs through smartphones, presenting significant opportunities in payments and lending.

    Currently, payments dominate the fintech segment, driving initial growth. Payments are expected to remain the most significant use of fintech until 2030. Business-to-business-to-any-user (B2B2X) and B2B services are anticipated to become prominent, with B2B fintech revenue projected to grow at a 32% CAGR until 2030. The rise of B2B2X, where telcos deliver financial services to end-users, is set to be an emerging business model relying on fintech.

    SoftBank to lead funding for Nigerian tech startups 

    Regulatory Considerations

    The regulation of the fintech sector in Africa has been light and fragmented, varying across countries. While some nations have robust regulatory systems, others lack measures to guide and structure the market. Striking a balance is crucial; regulators must avoid over-regulation to foster innovation and growth. Regulators play a vital role in creating an open banking system supporting digital infrastructure and economic growth.

    Regulatory frameworks should acknowledge the co-existence of fintech services with traditional financial services. This can be achieved by granting standalone fintech licences or accepting fintech service providers as integral parts of the financial ecosystem. The rapid growth of fintech services in Africa necessitates regulatory adaptability to ensure sustained innovation.

    As the fintech landscape evolves rapidly in Africa and globally, the continent is positioned for significant growth. Businesses need to adapt, enabling fintech payments to reach underbanked or unbanked customers. 4C Group stands as a reliable partner, offering innovative digital tools and fintech technology to facilitate this transformative journey. For inquiries about these offerings, contact 4C Group today and join the fintech revolution shaping the future of financial services in Africa.

  • Tech Layoffs: eBay cuts 1,000 jobs

    Tech Layoffs: eBay cuts 1,000 jobs

    The online store eBay has said it will be letting go of 1,000 full-time workers or about 9% of its total staff. The data was made public in a recent government statement.

    The initiative is part of the company’s plan to be “more nimble” in a “challenging” business climate, according to CEO Jamie Iannone. It will include plans to hire fewer contract workers and find others to work in the next few months.

    Read also: Zambia tech minister announces readiness to be Africa’s next major tech hub

    “We’re making progress on our strategy, but our overall costs and headcount have grown faster than our business.” The CEO said, “To fix this, we’re making changes to our organisation that will align and combine some teams to improve the experience from start to finish and better meet the needs of our customers worldwide.”

    In an official statement, eBay asked US workers to work from home today, starting January 24, “to give these conversations space and privacy.” In addition, it says that workers will be told over Zoom if their boss fires them.

    An ongoing battle

    E-commerce pioneer eBay, founded in 1995, has endured decades of development and intense competition. It employs roughly 12,000 people and is worth $21 billion.

    The move is eBay’s second layoff in a year. In February 2023, the corporation announced a 500-person, 4% staff reduction. After the pandemic-fueled e-commerce boom, consumer spending slowed, the business said.

    For months, eBay has been losing market share to Amazon.com Inc. and Walmart Inc. and selling off parts of the corporation. Since it relies on sales commissions, eBay has been mostly unaffected by the advertising downturn, but a sales slowdown has hurt its bottom line.

    With 132 million active buyers on Sept. 30, the firm fell 3% from a year earlier. The New York closing price was $41.41. The shares rose 4% in extended trading. In the past year, the stock fell 13%.

    eBay has been criticised for poor operations. As previously reported, eBay paid $3 million to settle a criminal investigation into a cyberstalking and extortion scheme by former workers. According to US Federal officials, a Massachusetts couple who produced an eBay seller and executive newsletter received live spiders and a gory pig face mask.

    According to prosecutors, eBay staff assaulted the couple on bogus social media profiles and then informed them that eBay was investigating.

    US pledges support for Nigerian tech startups

    Topping the total is the layoff at eBay

    Layoffs. Fyi analyses tech job cutbacks and eBay joins more than 60 other major companies that let off over 11,000 workers in 2024.

    Amazon.com Inc. and Alphabet Inc., the parent company of Google, are two examples. This month, Sundar Pichai, CEO of Google, told workers that they should expect more layoffs in the coming months as the tech giant shifts its focus to AI “and beyond.”

    About 10% of the contract workers at language learning site Duolingo were let go as the company moved to rely more on AI. Amazon also cut many jobs, including some at Twitch, a site for streaming.

  • Unmasking the phantoms: how to detect scam Websites

    Unmasking the phantoms: how to detect scam Websites

    The internet’s vast marketplace can be an endless source of deals and opportunities, but hidden in the shadows are wolves in sheep’s clothing: scam websites. Cybercriminals who want to steal your information, money, or identity, so it’s essential to learn how to find them online. Here are some tips to help you find the warning signs:

    Spot the typos: Hastily put-together scam sites generally have grammatical faults, misspellings, and poor language. Quality material is vital for legitimate businesses; therefore, avoid grammatical errors.

    Read also: How to protect your SIM from scammers, thieves

    Check the “lock” and key: A padlock in the address bar and “https” indicate security, but don’t be fooled. Fraudsters can copy these traits. Click the lock for details—a reputable certificate issuer and verified corporate information are reasonable.

    Examine the domain: Red flags include misspellings, strange extensions like “.info” or “.biz,” and names that seem like well-known brands. Always verify the domain before entering essential data.

    Watch out for phoney deals: scammers often advertise ludicrous “get rich quick” schemes that involve depositing an unknown sum of money and multiplying it within a few days or offering lower prices than rival companies. If anything seems too good to be true, it generally is.

    Unmask content: Low-quality photographs, out-of-place stock photos, and generic product descriptions scream “scam.” Avoid websites with little substance or that don’t match the brand or product.

    Check the reviews, but verify: Online reviews can be helpful, but remember, scammers can fabricate positive testimonials. Use alternative sites and avoid glowing or generic reviews.

    Who are? Chat with us? Credible websites feature a physical location, phone number, and email address. Beware of sites with inadequate contact info.

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    Just trust your gut: Sometimes, a website feels “off.” Walk away if something seems odd. Preventing harm is better.

    Keep alert: Scammers change their methods, so stay vigilant. Use anti-phishing extensions and update your security software and browser.

    With these detection tools, you can feel safe navigating the internet market. Remember that being sceptical can help you stay safe on the internet, where some people disguise themselves as good people.

  • Anambra exchanges technology with Amazon, Google, 24 others

    Anambra exchanges technology with Amazon, Google, 24 others

    Anambra state government announces strategic engagement with 26 US high-tech enterprises.

    [ez-toc][ez-toc] this. These firms include Google, Meta, AWS, Dell, and others.

    As reported, the strategic relationship was reached over a weekend meeting at the US Consulate General in Lagos. The state delegation, led by Governor Chukwuma Charles Soludo, CFR, met with the US Consul-General, William Stevens, and prominent officials from 26 top US high-tech businesses to discuss strategic issues. 

    Read also: Amazon video cuts budgets for African, Middle East content 

    The summit sought to collaborate, form corporate ties, and promote technical partnerships to boost Anambra State. The statement states that the summit strengthened strategic collaborations for economic development and technology exchange, encouraging shared prosperity between Anambra State, its tech enterprises, and their US counterparts.

    The Anambra delegation, which included Chukwuemeka Fred Agbata, Commissioner for Industry, Uchechukwu Christian, and Ms. Chinwe Okoli, Special Adviser to the Governor on Innovation and Business Incubation, presented the state’s tech development initiatives under Governor Soludo. 

    They also presented the government’s goal to create a tech-friendly state. 

    Chukwuemeka Fred Agbata stressed the governor’s commitment to making the state a hub for digital transformation and innovation while showcasing the state’s tech revolution successes.

     

    Amazon, Google, and others commit to Anambra tech development

    US high-tech companies in the discussions expressed interest in aiding Anambra State in several ways. Amazon Web Services strongly supported the State’s Digital Health and Education Transformation. Dell and HP offered state-purchased equipment technical support and significant discounts. 

    Meta vowed to deepen their involvement in the state through partners like IGHub and Fate Foundation, while Google indicated an interest in trialling many initiatives and exploring prospects to strengthen SMEs’ digital presence in Anambra, increasing digital footprints. 

    “It is noteworthy, though, that the Anambra State Government and these tech industry titans recognise that these commitments are preliminary and subject to additional discussions and fine-tuning towards translating these commitments into impactful projects that will bring about lasting positive change for the people of Anambra,” the release says.

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    Strategic relationships mark a milestone in Anambra State’s transformation into a tech hub, according to the comments. They also support Governor Soludo’s goal of making the state Nigeria’s digital and creative capital. 

    “The partnerships with these leading industry giants, no doubt, will catalyse innovation, economic growth, and societal development within the state,” the statement states.

    The governor thanked US companies for supporting Anambra’s technology growth and emphasised the state’s commitment under his watch to fostering a collaborative and innovative environment.

  • Mastercard, EDC empower 10,000 women with digital skills in Lagos 

    Mastercard, EDC empower 10,000 women with digital skills in Lagos 

    The Enterprise Development Centre (EDC) of Pan Atlantic University and the Lagos State government have announced a partnership aimed at providing 10,000 women entrepreneurs with the capital and expertise they need to launch and expand their enterprises.

    The partnership, which is a component of the MasterCard Foundation-powered Transformation of Nigerian Youths programme, intends to increase women’s economic contribution and involvement in Lagos State, particularly in the fields of entrepreneurship, creative arts, digital, and agro-based skills.

    At a press conference on Tuesday, Akinyemi Ajigbotafe, the state commissioner for wealth creation and employment, revealed this information. He stated that the training course will start in the first quarter of this year and last for 24 months.

    He noted that the scheme will train the chosen women, who would be chosen from the State’s 20 Local Government and 37 Local Council Development Areas, using a combination of in-person community learning and online partner-sponsored learning.

    Read also: Mastercard, illicocash to launch virtual card program in DRC

    N200,000 seed fund to be awarded to the top 80 competitors

    Ajigbotafe further disclosed that the top 80 participants who finish the curriculum successfully will receive a N200,000 seed cash to help them start or grow their enterprises.

    According to him, the purpose of the seed money was to give the women the initial funding they needed to get past the financial obstacles that many female entrepreneurs encounter, as well as to support and recognise them for their commitment and hard work.

    In addition to assuring the interested women that the selection process would be impartial and open, he advised them to apply for the programme via the EDC’s portal or the ministry’s website.

    Working together to make the dream of job

    In order to realise the goal of wealth development and jobs for the throngs of young people in Lagos State, Ajigbotafe further emphasised the significance of cooperation between the public and private sectors.

    According to him, the current state of the economy in Nigeria and around the world makes it imperative that the government collaborate with pertinent parties, like the MasterCard Foundation and the EDC, to give young people the information and skills they need to become employable and develop their businesses.

    He expressed his confidence that the relationship would benefit the women and the state and praised the EDC for its more than two decades of experience in training and developing young entrepreneurs.

    Additionally, he expressed gratitude to the MasterCard Foundation for its dedication and support in transforming Nigerian youth, particularly in the fields of innovation and digital transformation.

    African leaders Must prioritise technology, digital skills- Shettima

    What the EDC does

    The EDC is a training and development facility that offers the following services to female entrepreneurs in an effort to help them succeed:

    Education on entrepreneurship: The EDC provides webinars, workshops, and online and offline courses on a range of entrepreneurship-related subjects, including finance, marketing, innovation, and digital transformation. Access to tools, resources, and information that might assist female entrepreneurs in launching and expanding their enterprises is another service offered by the EDC.

    Networking and mentoring: The EDC links female entrepreneurs with peers, mentors, and professionals who can provide direction, criticism, and support. Additionally, the EDC plans platforms and events that help female entrepreneurs network and work together with other business owners, financiers, and stakeholders both domestically and globally.

    Support for finances and risk mitigation: The Export Development Canada (EDC) collaborates with other financial organisations to give women entrepreneurs access to funding, credit, and financial services. Additionally, the EDC assists female entrepreneurs in navigating the dangers and difficulties associated with exporting, including exchange rate swings, market restrictions, and supply chain interruptions.