Economy
Tech4Dev, Microsoft to Empower 10,000 Women
By Adedapo Adesanya
To mark this year’s International Women’s Day, Tech4Dev has partnered with Microsoft to launch its Women Techsters Initiative to empower 10,000 women in tech from Nigeria and four other African countries.
The initiative is aimed at bridging the vast digital divide between men and women in the technology ecosystem and to change the narrative of skewed gender numbers in technology by empowering women with digital and deep tech skills and opportunities to pursue careers and interests in technology.
According to the e-Conomy Africa 2020 Report by IFC, Africa’s technology industry has an average of 8:2 men to women ratio. These numbers reflect urban cities, and the statistics for women further reduce in suburban and rural areas across the continent.
Hence, there is a large need for gender parity and inclusivity in the technology space with numbers showing that having women effectively engaged in the labour force can potentially boost a nation’s annual GDP by as much as 70 per cent.
As a foundation, having more women in tech was the backbone behind the Women Techster’s pilot program.
The Nigerian Women Techsters, held in partnership with Microsoft, GIZ and other partners, enabled over 2400 women between the ages of 16-40 across 12 states in Nigeria to pursue careers in tech, start technology or tech-enabled businesses and to study STEM at an advanced level.
During the event, Tech4Dev launched the Women Techsters initiative, a renewed vision and dream to empower 5 million women with digital and deep tech skills across Africa by 2030.
This year alone, the initiative will impact 10,000 women across 5 African countries – Nigeria, Egypt, South Africa, Kenya and Ghana.
Speaking at the launch, in her opening address, the Regional Director for Middle East and Africa, Microsoft Philanthropies, Mrs Ghada Khalifa, stressed the importance of empowering women with digital skills to become active players in ICT and how this inclusion can have a direct impact on the economy.
She said, “When we empower girls and women in the ICT industry through greater access to skills and training, we unlock not only innovation but also economic opportunities.”
On her part, Mrs Diwura Oladepo, the Executive Director of Tech4Dev, spoke about the objective behind the Women Techsters initiative. She noted that it will provide the prerequisite knowledge and insight needed to enable girls and women interested in careers in technology to access the right learning opportunities, gain access to decent jobs within the technology ecosystem and to empower them with the right skills needed to create, grow and scale their technology-enabled businesses and deep tech startups.
In her words, “it is crucial to ensure that women are actively engaged in technology as this helps to financially empower them, effectively improve the economic realities of women and the countries at large, eliminate biases in technology research and improve overall productivity and efficiency of the technology ecosystem.
“Through the Women Techsters, we choose to challenge the status quo – that women can’t be active contributors and partakers in technology.”
In a panel session moderated by Akin Banuso, the Microsoft Country Manager for Nigeria, with the panellists; Mirna Arif, Lilian Barnard and Kendi Ntwiga-Nderitu (Country Managers for Egypt, South Africa and Kenya, respectively) explored the inclusivity of women in the tech industry and STEM fields as a whole.
Speaking on the gender disparity in the tech ecosystem, Ms Lilian Barnard, Microsoft Country Manager, South Africa, reiterated that people only dream as far as their eyes can see.
“Women don’t have access to programs that would equip them with digital skills relevant to the tech world. We are glad that organisations like Tech4Dev are taking it upon themselves to hold programs, seminars and events that enlighten, educate and inspire women to take up tech careers.”
As for Mrs Kendi Ntwiga-Nderitu, Microsoft Country Manager, South Africa, she encouraged women to push for a better future.
She said, “Traditionally, women have been and are known to be naturalists in society, whether it is in bringing communities together or playing roles to foster growth.
“For women to keep on playing these roles in the 21st century, a world that is tech-inclined, means we have a very significant role to play in the growth and development of our society.”
In the same vein, Ms Mirna Arif, Microsoft Country Manager, Egypt, encouraged women to ensure that they put in place plans to grow, challenge the status quo and speak up to pave the way for other women to have seats at the table.
By Adedapo Adesanya
The duo of Afriland Properties Plc and Geo-Fluids Plc crashed the NASD Over-the-Counter (OTC) Securities Exchange by a marginal 0.06 per cent on Wednesday, December 11 due to profit-taking activities.
The OTC securities exchange experienced a downfall at midweek despite UBN Property Plc posting a price appreciation of 17 Kobo to close at N1.96 per share, in contrast to Tuesday’s closing price of N1.79.
Business Post reports that Afriland Properties Plc slid by N1.14 to finish at N15.80 per unit versus the preceding day’s N16.94 per unit, and Geo-Fluids Plc declined by 1 Kobo to trade at N3.92 per share compared with the N3.93 it ended a day earlier.
At the close of transactions, the market capitalisation of the bourse, which measures the total value of securities on the platform, shrank by N650 million to finish at N1.055 trillion compared with the previous day’s N1.056 trillion and the NASD Unlisted Security Index (NSI) went down by 1.86 points to wrap the session at 3,012.50 points compared with 3,014.36 points recorded in the previous session.
The alternative stock market was busy yesterday as the volume of securities traded by investors soared by 146.9 per cent to 5.9 million units from 2.4 million units, as the value of shares transacted by the market participants jumped by 360.9 per cent to N22.5 million from N4.9 million, and the number of deals increased by 50 per cent to 21 deals from 14 deals.
When the bourse closed for the day, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units valued at N3.9 billion, followed by Okitipupa Plc with 752.2 million units worth N7.8 billion, and Afriland Properties Plc 297.5 million units sold for N5.3 million.
Also, Aradel Holdings Plc, which is now listed on the Nigerian Exchange (NGX) Limited after its exit from NASD, remained the most active stock by value (year-to-date) with 108.7 million units sold for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units worth N5.3 billion.
By Adedapo Adesanya
The euphoria around the recent appreciation of the Naira eased on Wednesday, December 11 after its value shrank against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N5.23 or 0.3 per cent to N1,547.50/$1 from the N1,542.27/$1 it was valued on Tuesday.
It was observed that spectators’ activities may have triggered the weakening of the local currency in the official market at midweek as they tried to fight back and ensure the value of funds in foreign currencies strengthened.
The domestic currency was regaining its footing after the Central Bank of Nigeria (CBN) launched an Electronic Foreign Exchange Matching System (EFEMS) platform to tackle speculation and improve transparency in Nigeria’s FX market.
At midweek, the Nigerian currency depreciated against the Pound Sterling by N3.56 to close at N1,958.68/£1 compared with the preceding day’s N1,955.12/£1 and against the Euro, it slumped by 34 Kobo to trade at N1,612.66/€1, in contrast to the previous session’s N1,613.00/€1.
As for the black market segment, the Naira lost N45 against the American currency during the session to quote at N1,670/$1 compared with the N1,625/$1 it was traded a day earlier.
A look at the cryptocurrency market showed a recovery following profit-taking as the US Consumer Price Index report matched economist forecasts.
The news was enough to convince traders that the Federal Reserve is certain to trim its benchmark fed funds rate another 25 basis points at its meeting next week.
The move also saw Bitcoin (BTC), the most valued coin, return to the $100,000 mark as it added a 2.9 per cent gain and sold for $100,566.12.
The biggest gainer was Cardano (ADA), which jumped by 15.00 per cent to trade at $1.16, as Litecoin (LTC) appreciated by 10.4 per cent to sell for $121.76, and Ethereum (ETH) surged by 7.0 per cent to $3,929.30, while Dogecoin (DOGE) recorded a 6.7 per cent growth to finish at $0.4181.
Further, Binance Coin (BNB) went up by 5.2 per cent to $716.72, Solana (SOL) expanded by 4.6 per cent to $229.77, and Ripple (XRP) increased by 4.2 per cent to $2.43, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
By Aduragbemi Omiyale
The Dangote Refinery located in the Lekki area of Lagos State has made its first export of premium motor spirit (PMS) just three months after it commenced the production of petrol.
In September 2024, the refinery produced its first petrol and began loading to the Nigerian National Petroleum Company (NNPC) on September 15.
However, due to some issues, the facility has not been able to flood the local market with its product, forcing it to look elsewhere.
In a landmark move for regional energy integration, Dangote Refinery has partnered with Neptune Oil to take its petrol to neighbouring Cameroon.
Neptune Oil is a leading energy company in Cameroon which provides reliable and sustainable energy solutions.
Dangote Refinery said this development showcases its ability to meet domestic needs and position itself as a key player in the regional energy market, adding that it represents a significant step forward in accessing high-quality and locally sourced petroleum products for Cameroon.
“This first export of PMS to Cameroon is a tangible demonstration of our vision for a united and energy-independent Africa.
“With this development, we are laying the foundation for a future where African resources are refined and exchanged within the continent for the benefit of our people,” the owner of Dangote Refinery, Mr Aliko Dangote, said.
His counterpart at Neptune Oil, Mr Antoine Ndzengue, said, “This partnership with Dangote Refinery marks a turning point for Cameroon.
“By becoming the first importer of petroleum products from this world-class refinery, we are bolstering our country’s energy security and supporting local economic development.
“This initial supply, executed without international intermediaries, reflects our commitment to serving our markets independently and efficiently.”
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