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Diamond Bank to Train 500,000 Kids on Coding

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Diamond Bank

Diamond Bank, in collaboration with Code Camp Africa will train 500,000 Nigerian children on computer programming and coding within a short period of time. In preparation for objective, the organisations have already trained some of the children. The teens between the ages of seven years to 15 years, were trained over a period of five weeks on computer coding and technology development.

Showcasing the children, who benefitted from the training in Lagos recently to the delight of their parents, the Managing Director of Diamond Bank, Uzoma Dozie, expressed satisfaction over the children’s performance in coding and website design in just few weeks of intense training that was packed full with extra curriculum activities. He explained that the bank’s vision of empowering young Nigerians with the language of technology, was to equip Nigerian children with technology skills, especially those that have developed interest in computing.

“The future of almost everything nowadays is technology and will depend on the ability to use technology. The Western world is outsourcing jobs to India because of this ability to write code. It is paramount that we develop in this area of development,” Dozie said.

“In 10 years’ time, the kids can work in Nigeria and across the world. It is critical that we equip them with the ability to code and understand the language of technology,” he added.

Code Camp Africa promoter, Mr. Edwin Momife said the vision of the organisation is to train at least 500, 000 youngsters in coding within a short period of time.

“If you learn how to code you become a global citizen. We need Nigerians to get to code and use technology to solve problems,” Momife said.

Head, Retail Banking Businesses, Diamond Bank, Mr. Robert Giles said the bank was motivated to partner Code Camp Africa in training the children because it became interested in developing Nigerian children digitally, being one of the foremost banks in Nigeria that is promoting technology development in the financial sector.

“It is important to develop Nigerian children technologically when they are still young and when they grow with technology skills, they will become stars in computer coding and other areas of computing. With technology skills, they could develop technology solutions that will address the needs of Nigerians,” Giles said.

The technology skills they acquire over the years will help generate employment in the future and also develop the society. The children will grow to become future employers of labour and create initiative that will enhance development,” Giles added.

“We will be working with the youth team of our bank to continue supporting the children in technology development. It is pleasing to see children develop codes and create websites and we wish they grow up with the skills,” Giles added.

Diamond Bank collaborated with Code Camp Africa and programming firm Andela Limited to deliver the five-week programme that equipped about 25 youngsters with knowledge and skills in various computer languages.

Some of the children spoke of their thrilling experiences in learning various computer programming languages, from JavaScript through Python and Scratch, among others. Daniel Abass, a participant, attested that he could now make his websites while Judex Umorgu and others displayed various websites and applications.

One of the apps uses geo-location to enable parents to track the movement of their children and teachers, while others showed apps for games, cars and other hobbies.

Awards of recognition were given to four participants for innovative idea, good behaviour, best design and best programmer, during the camping period.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood

Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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