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Home Blog Page 4565

Upskilling Africa’s Workforce

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The world is no doubt rapidly evolving into a digital era, with new technologies and technological advancements sweeping across the globe.

Economies are also rapidly evolving, as a lot of firms will mandate their employees to upskill so that they can leverage off new technologies thereby improving efficiencies in the workplace.

The world economic forum estimates that automation and Artificial Intelligence will displace 75 million low-skilled jobs by 2022 which is already happening. What this implies is that the future will only be favourable to those who possess relevant digital skills as this will enable them to navigate future jobs.

With the adoption of advanced technology in companies across the globe, new jobs which had not been seen before will emerge. The implication of this is that those who fail to acquire relevant digital skills will be left behind with little or no opportunities leaving them to settle for low-quality jobs.

Different European countries have begun to ensure that their citizens, most especially the youths, are well-equipped with relevant digital skills to take up future jobs. Unfortunately, the workforce in Africa lags in the acquisition of on-demand digital skills.

According to Wikipedia, it has been predicted that by 2030, almost half of the world’s youth will be in Africa, as the number of youths on the African continent will have increased to 42%. This means that the number of young people entering the workforce each year will join millions of others to search for better sources of livelihood.

Unfortunately, the lack of adequate skills have been reported to be one of the factors impeding young Africans in responding to current and future industry needs, which is why the continent still remains underdeveloped.

Currently, it is reported that a large percentage of African youths earn less than $150 per month on average. This statistic is true for African youths due to the fact that most of them lack the necessary relevant skills, which calls for a great need to upskill the workforce in the region.

About 250 million youths in Africa are preparing to enter the workforce with projections that the number would rise to 321 million by 2030. Even after graduating from tertiary institutions, most of the youths in Africa still lack the necessary skills to secure quality jobs.

In order to upskill Africa’s workforce, governments of countries on the African continent need to support private sector programs aimed at educating the youths and upskilling the continent’s workforce, as investments in people and skills in the African region are paramount in propelling the continent to the forefront of the Fourth Industrial Revolution.

GetBundi is an EdTech platform designed to deliver high-quality, engaging, and accessible STEM (Science, Technology, Engineering, and Mathematics) skills, with courses focused on six years of post-primary education as well as STI (Science, Technology, and Innovation) skills has been on a mission to upskill 10 million African in 10 years, labeled “the GETBUNDI vision 2032”.

Therefore, there is a strong need for governments in the African region to collaborate and partner with these Edtech platforms to enable a friendly environment and also eliminate challenges to enable them to thrive to ensure massive upskill coverage across states and nations.

The task of upskilling African youths with the right skills is a huge one which cannot be achieved by one group or firm. It requires a collaborative effort between relevant key stakeholders.

Despite the fact that the government has a major role to play in upskilling Africa’s workforce, there is still a need for partnership with public and private institutions. These collaborations will create room for innovative financial models which will promote upskilling among youths in Africa.

Another effective way to upskill Africa’s workforce is to revamp the educational sector. There is no disputing the fact that the educational curriculum used to teach students in Africa is outdated and needs an overhaul.

This signifies that the educational sector in Africa is inadequate to service the needs of the rapidly evolving world. For an effective impact to be made in upskilling Africa’s workforce, there needs to be the inclusion of digital and technical skills that are relevant in today’s digital economy to be included in the school curriculum.

These skills should be taught at the cradle level which is from the primary level, up to the tertiary level. Doing this will ensure that once these youths become graduates, they are already equipped with relevant skills to take up future jobs which will not only decrease unemployment but also develop the African region through their innovative ideas and technologies.

Expanding Digital Infrastructure is another key strategy to upskill Africa’s youths. The African government must ensure to provide the necessary infrastructure such as building tech hubs, expanding broadband internet coverage and also go as far as providing the youths with laptops, to enable them acquire the needed digital skills.

Conclusion

Digital Upskilling will empower Africans with the knowledge and skills required to participate in a global economy shaped by rapid technological advances such as Artificial Intelligence, robotics, machine learning, cognitive computing, etc.

Africa is a continent on the rise, unfortunately digital skills gap in the continent is an enormous problem which has retarded Africa’s growth. Therefore, upskilling its workforce with relevant digital skills will unlock the potential of African youths and the African continent, which will improve different sectors that will no doubt create a healthy and wealthy economy for all.

Best Neighborhoods in Los Angeles

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It’s no secret that Los Angeles is one of the most diverse and exciting cities in the US. With neighborhoods that cater to every interest and lifestyle, it can be tough to choose just one area to call home. But don’t worry—we’ve got you covered.

We teamed up with some of our favorite locals to put together a list of the best neighborhoods in LA with plenty of homes for sale in Los Angeles at Ofirio. Whether you’re looking for a lively nightlife scene, picturesque parks, or trendy restaurants and shops, we’ve got you covered. So what are you waiting for? Check out our list and start planning your next move!

Best Overall: Venice

Venice is one of the most diverse neighborhoods in all of Los Angeles. You’ll find an interesting mix of cultures, cuisines, and architecture here. It’s also home to some of the best shopping in the city. If you’re looking for a quintessential L.A. experience, Venice is definitely the place to be.

Venice is an interesting neighborhood that has changed a lot over the years. It used to be more of a blue-collar, working-class community, but now it’s more upscale and attracts a lot of tourists. 

It’s still a very diverse community with a mix of cultures. You’ll find plenty of restaurants and shopping opportunities in Venice, as well as many outdoor activities and beaches.

It’s also a very walkable neighborhood, so you can get around easily without having to drive or take public transportation. The Venice Boardwalk is just one example of the many things to do in Venice Beach. This popular spot draws tons of tourists who want to enjoy the sunshine and surf while taking in all that L.A. has to offer.

Best for Families: Mar Vista

Are you looking for a family-friendly neighborhood in Los Angeles? Look no further than Mar Vista.

This westside enclave is known for its laid-back vibe and its abundance of parks, which make it the perfect spot for kids. It’s also close to Venice Beach and Santa Monica, so you can enjoy all the perks of coastal living without sacrificing your proximity to downtown LA.

And if you’re looking for a place to settle down, you’ll be happy to know that Mar Vista is home to a number of quality schools, both public and private.

Best for Nightlife: Silver Lake

If you’re looking for a night out on the town, Silver Lake is the place to be. This trendy neighborhood is home to some of the best restaurants and bars in LA. You’ll find everything from dive bars to high-end cocktail spots, and there’s something for everyone.

Silver Lake is also known for its music scene. If you’re into indie rock or hip-hop, you’ll definitely want to check out some of the venues in this neighborhood. And don’t forget to stop by the Silver Lake Reservoir for a scenic view of the city.

Best for Foodies: Koreatown

If you’re a foodie, Koreatown is the place for you. This LA neighborhood is home to some of the best Korean restaurants in the city, as well as a variety of other Asian cuisine.

Koreatown is also a great place to go for a night out on the town. The neighborhood is known for its lively nightlife, with a wide variety of bars and clubs to choose from.

Whether you’re looking for a great meal or a night out on the town, Koreatown is sure to please.

Best for Shopping: Melrose

If you’re looking for a place to do some serious shopping, Melrose is the neighborhood for you. This neighborhood is home to some of the best shopping in Los Angeles, with everything from high-end designer stores to vintage boutiques.

There’s also a great selection of restaurants and bars in Melrose, so you can refuel after a long day of shopping. And if you’re looking for entertainment, the Melrose Avenue Shopping District is home to the famous Rocky Horror Picture Show movie theater.

Best for Relaxation: Topanga

If you’re looking to get away from the hustle and bustle of the city, then Topanga is the place for you. This neighborhood is located in the Santa Monica Mountains and is known for its rural feel.

There are plenty of hiking trails and parks to explore, and the beach is just a short drive away. The locals here are friendly and welcoming, and it’s a great place to raise a family.

Conclusion

Of course, there are many more great neighborhoods in Los Angeles beyond these six. But these are definitely some of the best of the best—the ones that residents love the most and that offer something unique and special.

Whether you’re looking for a bustling nightlife scene, a laid-back beach vibe, or a family-friendly community, you’re sure to find it in one of these neighborhoods. So take your pick and start exploring all that Los Angeles has to offer!

SEC Nigeria approves NGX Technology Board Listing Rules; Expects Tech Startups to IPO in Nigeria

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This is a massive one and it is coming just as 2022 closes. Yes, the Securities and Exchange Commission has approved the rules for listing on Nigeria Exchange’s new Technology Board. With this playbook, companies like Flutterwave, Interswitch, Touch and Pay, etc can have a clear destination to the public market without buying flight tickets to London and New York.

 Of course, the main issue besides the opportunity is the investors: how would they price these companies?  Indeed, when I see that eTranzact International Plc is valued at $53 million, I conclude that NGX retail investors need more lessons on tech and opportunities therein.

Yet, this is a step in the right direction: we need to have our own NASDAQ in Nigeria. In a world with Omatek Plc, Courteville Business Solutions Plc, NCR Plc, Chams Plc, Computer Warehouse Group (CWG) Plc,
Tripple Gee & Company Plc, Airtel Africa and MTN Nigeria, we can to add new species therein.

===Press release

Nigerian Exchange Limited (“NGX or “The Exchange”) is pleased to announce that the Securities and Exchange Commission (SEC) approved the Rules for Listing on NGX Technology Board on 15 December 2022.

The NGX Technology Board is a specialised platform for technology-based companies to list and raise capital on The Exchange. Through the Board, NGX aims to encourage investments in indigenous technologically inclined companies and others across Africa, provide greater visibility to these companies and ultimately deepen the Nigerian capital market. Securities listed on NGX Technology Board will be accessible to qualified institutional investors, retail investors, and high-net-worth investors.

Commenting on the approval of the Rules, the Chief Executive Officer of NGX, Mr. Temi Popoola said, “This is a landmark achievement that will position the Exchange as an attractive destination for capital formation by companies within the Technology Sector. It also attests to NGX’s dedication to deepening the Nigerian capital market. On behalf of the Board and Management of NGX, I would like to express our appreciation to the SEC for approving the Rules. I would also thank the Board of NGX for their invaluable contribution during this process. We are confident that NGX Technology Board will encourage start-ups, both Nigerian-founded and from other African countries, to list on the Exchange as they work towards meeting their financing needs.”

The CEO of NGX RegCo, Ms Tinuade Awe on her part said, “The approval comes after deliberation on the draft Rules by the Regulation and New Business Committee (RNBC) of NGX RegCo and the consideration of stakeholders’ comments on the exposed draft rules, followed by the subsequent submission to and approval by the Board of NGX RegCo. We are much obliged to the SEC for its quality input and approval of NGX Technology Board Rules.”

NGX, the sustainable exchange championing Africa’s growth, is committed to stimulating the technological transformation of the capital market and the development of Africa’s technology sector.

Doyin Okukpe and his Money Laundering Saga and why he is not in jail

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The Director-General of the Labour Party Presidential Campaign Council and the former Senior special assistant on Media to the former President of Nigeria, President Goodluck Jonathan, Dr. Doyin Okupe, has been sentenced to two years jail term on Monday by her Lordship, Justice Ijeoma Ojukwu for breaching the Money Laundering (Prevention and Prohibition) Act of 2011.

The background of the case; Dr. Doyin Okukpe whilst he was an aide to the then President of Nigeria, President Goodluck Jonathan was accused and subsequently arraigned by the operatives of the Economic and Financial Crimes Commission (EFCC) for receiving over N200 million in cash from the former National Security Adviser (NSA), Col. Sambo Dasuki which contravenes S.1 of the Money Laundering Act of 2011 thereby making him guilty of the financial crime of money laundering.

The Money Laundering (Prevention and Prohibition) Act, 2011 provides in its section 1 that no individual or organization shall receive any sum above N5 million and N10 million respectively in cash without passing through commercial banks or other government-registered financial institutions.

The full provisions of S. 1 of The Money Laundering (Prevention and Prohibition) Act, 2011 read thus;

1. No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding

(a) N5,000,000 or its equivalent in the case of an individual or

(b) N10,000,000 or its equivalent in the case of a body corporate.

Mr. Doyin Okukpe was subsequently found guilty of this financial crime of receiving in cash a lump sum above N5,000,000 without passing it through the financial institutions which is tantamount to money laundering by Justice Ijeoma Ojukwu the presiding judge on Monday, the 19th December 2022.

He was therefore sentenced to two years jail term by Justice Ijeoma Ojuwku with an option of N500, 000 fine on each of the 26 count charges he has arraigned on and found guilty of amounting to a total fine of N13,000,000 for the 26 counts charge and was released afterward he made the payment of the fine of N13,000,000 to the court.

Readers should therefore note that some sentences carry the option of a monetary fine, i.e. when the court sentences a person who is found guilty to jail, he can be given the option to pay a monetary fine especially when the offense the accused person is found guilty of is not a capital offense. This is why Mr. Okukpe was given the option of a fine which he quickly paid hence why he is not currently in jail as ordered by the court

Auto Executives of EVs Predict Decline in Sales, Over Concerns of Inflation, High-Interest Rates, Etc

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Automotive executives of Electric Vehicles (EVs) have predicted a decline in sales over concerns about inflation, and high-interest rates, among several other factors.

This recent prediction by executives is the opposite of what they had earlier proposed a year ago, in which they disclosed that more than half of U.S car sales will be EVs by 2030.

With the recent inflation and high-interest rates, reports disclose that automotive executives are less confident about the surge in sales of EVs in the U.S and globally.

In a recent survey conducted by accounting firm KPMG, the estimation of new Electric vehicles being sold stood at 10% to 40% in this year’s survey, a decline from 20% to 70% a year ago.

In the U.S, the median expectation for EV sales was 35% of the new vehicle market, down from 65% a year ago.

KPMG’s global head of automotive Gary Silberg while commenting on the recent survey, disclosed that EV automakers are however optimistic of increased sales in the long term, however with the recent socio-economic challenges, they are not confident that there will be a surge in sales.

In his words,

There’s still a sense of optimism long term, and yet, most importantly, there’s a sense of realism in the near term. You see this realism throughout the entire survey.

“You can be long-term optimistic, but near term, you’ve got to be very realistic. It’s not rainbows and butterflies and euphoria anymore, it’s game on.”

Asides from the inflation and high-interest rate, the proposed tax credits of up to $7,500 for electric vehicles in this unfriendly economy according to a few analysts could pose a serious challenge to the sales of EVs.

The EV tax credit is a federal incentive designed to encourage people to purchase EVs. Residents who meet the income requirements, and who buy a vehicle that satisfies the price, battery, and assembly restrictions, are eligible to receive up to $7,500 from the government in the form of a tax credit.

Although, some of these provisions, however well intended, may have unintended results, with some industry commentators concerned that no current vehicles will qualify for the revised EV tax credit due to its strict price limits and the made-in-America requirements that will go into effect in January 2023.