E-Business
Microsoft Reaffirms Commitment to Promote New Frontier of Skills in the Wake of COVID-19 Pandemic
Microsoft, in an effort to not only reaffirm its commitment to enabling the continent to achieve more through digital transformation with technology as a key vector, but also to forge commitment to assisting local economies during the pandemic.
This was disclosed in a roundtable meeting, it hosted in Lagos to discuss how the rampant digital transformation accelerated by COVID-19 has impacted skills demand.
It’s no longer news that COVID-19 pandemic has had unprecedented impact on organisations and industries the world over. While digital transformation has presented a call to action to entire industries to upskill and reskill, the onset of COVID-19 is said to have impacted the jobs of up to 80 million people.
As economies slowly start to reopen, jobs that were impacted and lost at the start of the global lockdowns, may now not exist.
Speaking at the roundtable event, Akin Banuso–country manager, Microsoft Nigeria noted that COVID-19 has dramatically accelerated the pace of digital transformation and as a result of this, digital skills are required immediately.
“According to our research, by 2025 digital job capacity will mean the creation of 149 million new jobs.
“Further to this, 800 million people will be required to learn new skills to fully execute their jobs by 2030.
“As the economy in Nigeria starts to slowly reopen for business, we anticipate the return to an economy with different needs and certainly one were a new challenge presents itself in terms of skills.”
Off the back of the recent Global Skilling Initiative announcement to aid 25 million job seekers worldwide to acquire the skills required to survive in the new digital economy – the roundtable, one of the first in a series developed to provide a continental answer to youth employment and skill promotion brought together thought leaders and decision makers from the private sector, IGOs, Government Agencies and Academia.
John Edokpolo – Microsoft Director of Corporate, External and Legal Affairs, MEA Emerging Markets
“One of our key objectives today was to gain a better understanding of the available models, approaches and best practices in employment as we edge closer to the recovery phase of this crisis”, said John Edokpolo – Microsoft Director of Corporate, External and Legal Affairs, MEA Emerging Markets.
The global skills initiative is set to use data to identify in-demand jobs and provide free access to learning content by investing in free access to in-demand skills training, discounted tests that provide industry-recognised certifications, and free connections to employability tools. In so doing, pull together every part of the holistic brand the encompasses Microsoft, LinkedIn, and GitHub to integrate these offerings to meet job seekers’ and the economy’s needs.
While the roundtable also sought to strengthen collaboration between partners for employment- orientated skills development and look to build a consensus and further commitments for key stakeholders on a way forward, it also looked to facilitate valuable dialogue, synergy building and upscaling of public-private sector partnerships for improved youth employability outcome and future jobs.
At the event, special discussion as given to managing the transition to a digitally driven business model, particularly in Nigeria.
“As we continue to see organisations of all sizes drive efficiencies through this new accelerated digital transformation – we anticipate seeing the rise of what is called a ‘hybrid economy”, continued Edokpolo.
“One where employees will have an option of integrating back into the workplace, while others will choose to carry out their duties remotely. Essentially, this environment is going to rely more increasingly on technology to skills optimisation.”
“While the goal of reaching and changing the lives of 25 million individuals sounds like an incredible task, it cannot be done alone.
“We hope that through roundtable discussions like todays, our collaborations with the public, private and NGO sector will lead to greater impact in this regard,” continues Banuso.
“We look forward to continuing our sustained efforts in reaching and educating more customers and prospects around the tools and resources available and are excited about working with our community to achieve the ultimate digital change!” concludes Banuso.
Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.
He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).
Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.
He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.
“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.
Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.
He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.
“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.
He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.
According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.
Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.
He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).
“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.
Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.
He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.
Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.
Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.
President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.
The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.
It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.
“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.
“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.
Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.
Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.
“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.
From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.
Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.
In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.
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