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Flutterwave Expands Employee Base by 38%

Flutterwave, Africa’s leading payments technology company, hired 200 trainees, thereby expanding its employee base by 38%.

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Flutterwave - Investors King

In its recently completed recruitment process for its inaugural graduate trainee program, Flutterwave, Africa’s leading payments technology company, hired 200 trainees, thereby expanding its employee base by 38%.

In July, the fintech company announced vacancies for its graduate trainee program. Interested young graduates across Nigeria had the opportunity to apply for different positions in the company. The registration process lasted for 15 days with the company receiving 11,000 applications.

However, only 200 successful applicants were selected. In a note published on the company’s website, the program was introduced to support young Nigerian graduates by sharpening and honing their technical skills, soft skills, working them through the company’s problems and encouraging them to proffer solutions to them.

The program is the first project launched under the reappointed Chief of People and Culture Officer (CPO), Mansi Babyloni.

Mansi Babyloni worked as the Global Head of People Strategy and Special Projects, Flutterwave in 2020 before she left for an opportunity at Price Waterhouse Coopers in London, UK.

She rejoined Flutterwave as the CPO and will be focusing on investing in people, culture and devising ways to drive growth for the organization.

Speaking about the new training program, CPO  said,I’m thrilled to be back at Flutterwave as the Chief People Officer. This role offers me the opportunity to invest in the talent, develop our people and make us the best employer out there – things I am deeply passionate about. My work starts with the Flutterwave Graduate Trainee Program which has been a passion project of the People and Culture Team for a long time and we are delighted that it is now a reality. 

“The program aims to teach our graduate trainees highly transferable skills via an on the job training methodology, skills that will set them up for success for the entirety of their careers. Flutterwave is what it is because of the talent, passion and innovation of a driven squad. We believe supporting the next generation of young talent to realize their potential is the most important way that we can give back to the community.

“This program is critically important to supporting our strategic growth needs, as we continue to expand across markets and geographies. As a global company, we’re looking forward to how this program can grow across other countries.”

Also, commenting on the program was Olugbenga GB Agboola, Founder and CEO of Flutterwave. He said, “The graduate trainee program is a key part of our continued efforts to support young talent and help them kick start their career. Over the years, we’ve been thinking about developing a program that serves as a pipeline for talent from the University to the workforce.

“We’re happy that Mansi and the entire People and Culture team at Flutterwave have made this a reality. Because of this project, 200 people will have an opportunity to break into their careers and get started on the path towards achieving their dreams. We’re elated that Mansi is back and pushing impactful projects in her first month with us.”

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LinkedIn Ranked Bamboo, Piggyvest, Moove Among Top 10 Nigerian Startups to Work With in 2022

Bundle Africa, Piggyvest, Bamboo, Moove among six others emerged as LinkedIn’s top 10 Nigeria startups to work

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Bamboo - Investorsking.com

Bundle Africa, Piggyvest, Bamboo, Moove among six others emerged as LinkedIn’s top 10 Nigeria startups to work.

LinkedIn released its list of top 10 emerging companies in Nigeria that are gaining both national and international attention. 

Topping the list is Bundle Africa, a financial service company founded in 2019. Following Bundle Africa was Utiva, an e-learning provider. 

Moove, another financial service company was ranked 3rd while Okra, a software development company was ranked 4th. Both Moove and Okra were established in 2020.

Also featured on the list is Cowrywise, a financial services company established in 2017. Cowrywise was ranked 5th while another financial services company, Bamboo which was established in 2019 took the 6th position. 

Other startups on the list include Nomba, TeamApt, Prospa and Piggyvest which were ranked in the 7th, 8th, 9th and 10th positions respectively. All four are financial services companies. 

A clear look at the list by Investors King shows that all the listed startups in the top 10 are headquartered in Lagos State.

According to the professional networking platform, despite the present nature of the economy and the stormy challenges of growing a company, the top ten companies are rising to the challenges and continue to innovate and gain attention in 2022.

LinkedIn further disclosed that it used LinkedIn data across four pillars to arrive at the list. The four pillars are employee growth, Jobseeker interest, member engagement within the company and its employees, and how well the startups pulled talent from top brands. 

LinkedIn further clarified that the list is ultimately meant to be a resource for jobseekers. Especially those that are excited with the opportunity to innovate, grow and solve big problems.

Of all the top ten startups, Moove has the highest headcount which currently stands at 425. TeamApt followed with a headcount of 350 while Nomba has a headcount of 235. 

Piggyvest has a headcount of 105 followed by Bamboo with a headcount of 75.  Prospa has 70, Utiva has 55, Okra has 50 while Cowrywise has the least headcount of 45.

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Bill to Jail Employers For Late Payment of Salary Reach Second Reading at the House of Rep

The House of Representatives has passed for second reading a bill that will penalised salary defaulters. 

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Femi Gbajabiamila

The House of Representatives has passed for second reading a bill that will penalised salary defaulters. 

The bill will prohibit late payment of salaries, underpayment of wages, pension and other emoluments in Nigeria.

The bill was sponsored by the speaker of the House of Representatives, Rt. Hon Femi Gbajabiamila. It scaled through to the second reading on Tuesday without a debate.  

If passed into law and signed by the president, employers who delay salary, wages and pension risk one-year imprisonment. 

Section 2 of the bill stated that “Every employer of labour in Nigeria, whether private or public, and whether it is employing any worker on permanent or contract basis must ensure that all payment of wages, salaries, pension and all benefits to workers are paid promptly without delay weekly, fortnightly monthly, quarterly or yearly as may be agreed by parties in the contract of employment of the additional individuals”. 

Furthermore, the bill seeks to prohibit arbitrary and harsh deduction as punishment in the event of damages and negligence by an employee. 

Section 3(1) of the bill says “an employer is prohibited from entering into any contract with any workman for any deduction from the sum contracted to be paid by the employer to the workman, or any payment to the employer by the workman for in respect of bad negligent work or injury to the material or property of the employer or in respect of any fine.”

Meanwhile, different opinions have trailed the bill. While some commentators commended it, others opined that the bill was dead on arrival. 

A social commentator with the name, Alabi Adejobi said,” The Federal Government and the State Governments are the worst salary defaulters. Unfortunately, they are also the biggest employer of labour in the country. So the law would not work because it is against the biggest defaulters.”

However, another commentator with the name Omolade Grace welcomed the bill. “Better, I hope they can enforce it.” She noted. 

Investors King understands that the bill will need to be passed by both the House of Representatives and the Senate before it is transmitted to the President. It will only become law if the present assent to the bill.

 

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Nigeria to Generate 850,000 Jobs From Energy Transition

President Muhammadu Buhari disclosed that Nigeria would generate 850,000 jobs from energy transition by 2060

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President Muhammadu Buhari - Investors King

At the ongoing 77th UN General Assembly meeting, President Muhammadu Buhari disclosed that Nigeria would generate 850,000 jobs from energy transition by 2060.

At a closed-door meeting with the UN Secretary-General, Antonio Guterres, as part of the country’s sideline activities at the event, the Nigerian president stated that the country will benefit significantly from energy transition. 

The president was quoted to have said “(The Energy Transition Plan 2060) will guide Nigeria’s rapid transition to renewable energy and result in significant job creation with up to 340,000 jobs created by 2030 and up to 840,000 jobs created by 2060 driven mainly by power, cooking and transport sectors.”

In August 2022, the Nigeria Government launched Energy Transition Plan 2060 (ETP, 2060) to as a guide to achieve zero emissions by 2060. ETP 2060 was also designed to help settle the problem of energy crises and lift millions of Nigerians out of poverty.

According to the Energy Transition Plan, Nigeria is expected to spend $1.9 trillion between now and 2060 to meet its goal. 

The president also stressed the need for international players in renewable energy to assist Nigeria on this lofty height. President Buhari’s call for assistance is coming barely after two weeks when the Vice President, Yemi Osinbajo made a similar appeal to the World Bank President, David Malpass. 

Investors King had earlier reported that Vice President Yemi Osinbajo met with the World Bank President. The Vice President appealed to key players and development partners to help Africa and Nigeria, in particular, to achieve its zero emission plan. 

While President Buhari applauded Egyptian President Abdel Fattah El-Sisi for his tireless efforts in the preparations for the COP27 coming up in November, this year, he further disclosed that Nigeria will generate 250 gigawatts from renewable energy. 

 

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