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IGAD Commissions Ijesha Digital Hub to Help the Youth Upskill

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The journey for the digitalization of Ijeshaland has begun and January 03, 2024, was a day that will go down in history as the dawn of a new era in digitalization of the ancient city.

In a grand event attended by Ijesha royal fathers and eminent sons and daughters of the community, the Ijesha Global Alliance for Development (IGAD), a coalition of Ijeshas based in North America, Europe and in the Nigeria homeland, commissioned the Ijesha Digital Hub and inducted its first cohort of 107 trainees in Artificial Intelligence, Cybersecurity and UI/UX Design.

The hub, which is situated on the beautiful campus of the prestigious Olashore International School in Iloko-Ijesha, took the first critical step to transform Ijeshaland as the digital hub of excellence in the country.

On January 4, 107 of the best of the best Ijesha youths gathered in the state-of-the-art Ijesha Digital hub to begin their training as skilled workforce and techno-entrepreneurs in the emerging global digital economy.

The inauguration was graced by prominent speakers and community leaders, including two royal fathers, Kabiyesi Owaloko, and the Oniwoye of Iwoye-Ijesha, Asiwaju Yinka Fasuyi, the Asiwaju of Ijesaland, Mr. Supo Shadiya, President, Ijesa Development Council (IDC) and Dr. Adewale Obadare, Chief Visionary Officer and founder of Digital Encode, one of the leading Cybersecurity companies in Nigeria, Barrister Dupe Ajayi-Gbadebo, IDC Vice President, among others who shared their insights on the indispensability of technology in shaping the future.

Dr Adewale Alonge, Vice President, IGAD, and one of the visionaries behind IGAD, who moderated the highly successful event, in his welcome and introductory address noted that Nigeria with the largest youth population in the world, with a median age of 18.1 years faces either a demographic ticking time-bomb or a demographic economic windfall depending on the choice the country makes as it relates to investment in youth human capital development. He noted that IGAD’s Ijesha Digital Hub was an investment in Ijesha youth human capital as the driver of the Ijesha development agenda. He noted that “The hub will serve as a gateway to opportunities, offering the means for sustainable livelihoods and the tools for scaling through the complex reality of the world.” The event also highlighted the importance of facilitating entrepreneurial drive and soft skills among the youth. Dr. Wale Alonge emphasized, “We are not just training for technical proficiency; we are exemplifying entrepreneurship and soft skills. The hub will be a stimulator for innovation, with a focus on real-world applications.”

Prince Abimbola Olashore, Chairman of Ijesha Global Alliance for Development, conveyed his gratitude for the collaborative efforts that led to the hub’s establishment: “Today’s ceremony is just the beginning. I want to thank all IGAD members and the Executive Board for their contributions. The hub is set to transform our workforce, fostering economic growth and sustainability.”

The push towards global connectivity and technology was reiterated by the Chairman: “Making it global with technology is where we are today. The hub is breaking barriers and inspiring the youth to make informed choices. Our commitment is solid, and we are set to make a difference in the digital age.”

The Chairman continued, addressing the hub’s potential impact on employment: “We are proud to change the employment situation, especially in the current job market. This project aims to create a skilled workforce capable of thriving in the global economy. The hub is not just a physical space but a motivator for the nation, and beyond.”

The hub was built in pursuit of encouraging entrepreneurship, where individuals are investing their time, talent, and resources, collaborating with sponsors, and ensuring a smooth and impactful journey for the youth. This is about going beyond limits and making technology accessible globally.

Dr. Ayoola, Founder of Robotics and Artificial Intelligence Nigeria (RAIN) delivered the keynote speech on Mindset Shift for Digital Success: “The mindset shift is critical. Success is not just about acquiring skills but defining success in your terms. It’s about solving problems and creating opportunities.”

Dr. Ayoola emphasised the need for a positive mindset, stating, “If we do not achieve a mind shift, we will struggle in the midst of plenty. We have the human resources, but without the right mindset, we may not fully utilise the potential within us. The youth must define success on their terms and focus on integrity, not just jobs.”

The keynote speaker also highlighted the challenges and solutions ahead: “We are facing challenges such as security issues, economic struggles, and brain drain. The solutions lie in technology – from artificial intelligence to blockchain. The youth need to leverage these technologies to create solutions for the challenges our nation faces.”

“Today’s a memorable day for all of us. What is happening today is going to make digital innovation in Nigeria,” expressed Dr. Peter Adewale Obadare, the Chief Visionary Officer, Digital Encode, Limited, and one of Africa’s most credentialed cybersecurity experts.

Dr. Obadare shared a personal reflection on the power of technology, highlighting its role in overcoming challenges.

He noted the importance of skills in cybersecurity and technology, dispelling conventional notions of success portrayed by the media. Through real-world examples, he stressed that technology offers diverse paths to success beyond traditional fields.

“The only way to bridge the gap of poverty is through technology. The power of technology, coupled with the right skills, can elevate the youth from zero to unimaginable heights,” affirmed Dr. Obadare.

To succeed in the digital age, Dr. Obadare presented a 3D formula – Determination, Dedication, and Discipline.

He encouraged the youth to be determined in their pursuit, dedicated to acquiring relevant skills, and disciplined in facing challenges. Drawing from his experience, he reiterated that these qualities are key to success in the dynamic field of cybersecurity.

“Determination, dedication, and discipline are the keys to success. Apply these, and you will be a success story,” Dr. Obadare motivated the audience.

Dr. Obadare shed light on the opportunities in cybersecurity, stating that the world needs over 5 million cybersecurity professionals. He urged the youth to embrace the program, noting that cybersecurity skills could lead to international job opportunities.

The induction ceremony also provided a medium for participants to express their aspirations. The Executive Director of IGAD, Dr. Cornelius Adewale, shared insights into the impact of the program, emphasizing the importance of dedication. Participants from diverse backgrounds, including data science and programming, expressed their gratitude for the opportunity and their commitment to making a positive impact.

“This program has opened new possibilities for us. With dedication, we aim to impact our communities positively.”

Mr. Supo Shadiya reiterated the commitment of IDC to empowering Ijesa youths as the cornerstone its overall coordinating responsibility for Ijesha development. The Vice President of Ijesa Development Council (IDC), Mrs. Dupe Ajayi Gbadebo addressed the importance of gender equity, acknowledging the significant role women play in technology. She urged the participants to challenge implicit biases and pointed out the need to include more women in the tech industry.

“Women are vital contributors to the tech industry. Let’s challenge biases and strive for inclusivity,” advocated the VP.

Asiwaju Yinka Fasuyi, the Asiwaju of Ijeshaland, who earlier on had been commended by various speakers for his catalytic and extraordinary leadership in the unprecedented development renaissance in Ijeshaland, commended IGAD for putting Ijeshaland on the map as one of the first communities in the country to launch its own digital workforce development initiative outside of the Federal government 3 million Tech-workforce program.

He reiterated Nigeria youth bulge challenge, nothing that with a youth population of 150 million, the FGN 3 million digital workforce skill acquisition project represents less than 2% of its youth population. He therefore urged the trainees to take full advantage of the unique opportunity that has been offered them and make Ijesha proud. He promised the support of the entire Ijesha community for the Ijesa Digital Hub initiatives.

Dr. Adewale Alonge invited two of the trainees (a male and female) to respond to all they had heard from the various speakers. They both expressed their profound gratitude to IGAD for affording them this once in a lifetime opportunity. They promised not to let Ijeshaland down. The vote of thanks was delivered by Mr. Adebanjo Adebiyi, a member of IGAD, via zoom from his base in Spokane, Washington, DC.

The induction ceremony at IGAD’s Ijesha Digital Hub was a spectacular success and it will go a long way in empowering Nigerian youth through technology. This hub will go beyond building skills, to building a future where technology empowers and transforms lives.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Airtel Africa Records Loss as Revenue Falls on Naira Devaluation

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Airtel Africa Plc released its full-year financial statement for the year ending March 31, 2024. The company posted a loss after tax of $89 million during the fiscal year, a significant decline from the $750 million profit after tax recorded in the previous fiscal year.

The company’s financial performance was mainly hit by the Naira’s instability over the fiscal year. As Airtel recorded FX losses of $770 million due to the devaluation of the Naira from N463/$ as of June 2023 to N1303/$ as of March 2024. The Naira devaluation also affected the company’s revenue baseline.

In reported currency, the USD, Airtel Africa posted a revenue of $4.98 billion in FY ‘23/24, representing a 5.3% decline from the $5.26 billion posted in FY ‘22/23. However, in constant currency, Airtel’s revenue grew by 20.9% over the course of the fiscal year.

However, Airtel Nigeria posted a revenue of $1.50 billion during the fiscal year, representing a 29.4% decline from the $2.13 billion revenue posted in FY ‘22/23. More so, in Naira terms, the group’s revenue appreciated by 25.8%.

Airtel Nigeria posted $711 million and $654 million in voice and data revenue respectively. Airtel customer base in Nigeria also increased to 50.9 million, representing a 5.3% growth from the 48.9 million customers posted in the previous fiscal year.

During the year, the group’s voice revenue constituted the bulk of its total revenue with $2.18 billion. Data revenue constituted $1.73 billion of its revenue.

In constant currency terms, Airtel Africa’s mobile services revenue experienced a significant increase of 19.4%. This growth was primarily driven by an 11.9% increase in voice revenue and a 29.2% growth in data revenues, as the group’s 4G customers increased by 42.3% during the fiscal year.

Airtel’s mobile money, SmartcashPSB recorded a 20.7% growth in customers as well as a 21.1% growth in revenue, hitting 38 million customers and $837 million.

Despite inflationary headwinds and currency devaluation across the group’s operational markets, Airtel Africa displayed resilience in its financial performance as it generated a net cash of $2.26 billion from its operations during the fiscal year.

Also, in terms of constant currency, Airtel maintained a double-digit growth across its revenue, pre-tax profit, EBITDA, and operating profit profiles.

Commenting on the results, Olusegun Ogunsanya, the group’s CEO, said: “This strong revenue performance is a reflection not only of the opportunity that is inherent across our markets, but also the resilience of our affordable offerings despite the inflationary pressure many of our customers have experienced.

“Furthermore, our rigorous approach to de-risking our balance sheet and our capital allocation priorities has materially reduced the risks that the currency devaluation has had on our business. Key initiatives include the reduction of US dollar debt across the business and the accumulation of cash at the [holding company] level to fully cover the outstanding debt due. We will continue to focus on reducing our exposure to currency volatility. At the beginning of March, we launched our first buyback programme reflecting the strength of our financial position.”

Airtel declared a 3.57 cents final dividend, a rise of 9.2% on-year from 3.27 cents. Its total dividend amounted to 5.95 cents, also up 9.2%, from 5.45 cents.

The CEO added: “The growth opportunity that exists across our markets remains compelling, and we are well positioned to deliver against this opportunity. We will continue to focus on margin improvement from the recent level as we progress through the year.”

 


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Google’s Hustle Academy Re-launches with AI Focus to Empower African SMBs

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Google has announced the opening of applications for the 2024 cohort of its Hustle Academy, a program dedicated to accelerating the growth of small and medium-sized businesses (SMBs) in Sub-Saharan Africa. This year, the program introduces a significant upgrade: business-focused AI training integrated directly into the curriculum.

SMBs are the backbone of Africa’s economy, yet many face challenges accessing funding and developing the essential skills needed to grow their businesses. According to the International Finance Corporation (IFC), 40% of formal SMBs in developing countries have an unmet funding need of $5.2 trillion annually.

The Hustle Academy aims to address this gap by providing comprehensive business education, mentorship, and networking opportunities. Since its launch in 2022, over 10,000 businesses have benefited from the program. Participants who received grants nearly doubled their success rate in accessing new funding sources beyond friends and family, increasing from 11% to 20%. The program has also spurred job creation, with an average of 4 new jobs for every 10 businesses that graduated.

Kristy Grant, Head of B2B Marketing, SSA commented, “Artificial intelligence (AI) holds immense potential for African small and medium-sized businesses (SMBs), enabling them to drive innovation, increase efficiency, and unlock new levels of economic growth. The Hustle Academy has supported over 10,000 businesses who have gone ahead to raise funding and create jobs since inception. By incorporating AI into our curriculum, we aim to further amplify this impact, equipping SMBs to harness AI technologies for improved business performance and economic progress.”

The new AI modules focus on data-driven decisions, optimising operations, and building AI-powered marketing strategies. Participants will explore practical applications through modules like “Boost Your Productivity with AI” and “Marketing Strategy and AI,” learning how to save time and supercharge digital outreach.

Applications for the 2024 Hustle Academy cohort are open to SMBs in Kenya, Nigeria, and South Africa, and the program will run through the end of the year. For more information and to apply, visit g.co/hustleacademy.


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Catholic Bishops Raise Caution on Use of Artificial Intelligence

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Most Reverend Lucius Ugorji, president of the Catholic Bishops’ Conference of Nigeria (CBCN), the Archbishop of Owerri has raised caution on the deployment of Artificial Intelligence.

Catholic Bishops’ Conference of Nigeria

Ugorji called for a balance that prioritises human welfare alongside technological progress, mindful of ethics and morals, as well as risks such as job displacement, threat to world peace, spread of falsehood through propaganda, manipulation of the human person, and privacy concerns through advanced hacking and deepfakes.

The clergyman raised the concern during the ComWeek Public Lecture in Abuja on Artificial Intelligence, noting that the exclusive use of technology in religious formation, pastoral care, and education has enhanced theological knowledge, accessibility and mission of the universal church.

Keynote Speaker at the event, Father Anthony Akinwale, deputy vice chancellor of Augustine University Lagos, dismissed the speculations that the intellectual roles of humans will be replaced by Artificial Intelligence, explaining that AI relied on humans to function and did not have a mind of its own to choose to or not to obey commands with which it was programmed.

Akinwale further cautioned that AI should be solely used for the common good of mankind and not for destructive purposes.

Most Reverend David Ajang, chairman on Social communication of the Catholic Bishops Conference, called for a reflection on the power of communication as a divine gift, “one that holds the potential to bridge divides, enlighten minds and unite hearts in the pursuit of truth and common good”.

 


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