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Microsoft, Amazon Commence Recruitment for Nigerian Developers

Two of the leading multinational technology corporations, Microsoft and Amazon have started recruiting African developers

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Two of the leading multinational technology corporations, Microsoft and Amazon have started recruiting African developers who have recently completed a bachelor’s or master’s degree in computer science, engineering or similar discipline and have at least a year of working experience in programming languages like Python, Java and PHP.

Microsoft, recently recruited Timi Bolaji, a Nigerian graduate of the University of Lagos, who passed the organisation’s assessment instituted to evaluate computer science graduates. Timi joined Microsoft in Seattle, Washington, U.S a year later and has since, been working with the Xbox cloud gaming team.

The company has now returned to Africa to recruit more creative minds like Timi with enticing offers, like relocation, a better pay package and training.

Similarly, Amazon has joined its competitor in a race to lure the best African minds to its organisation. According to people in the know, Amazon, the world’s leading e-commerce company has commenced interviews in Nigeria with a robust pay package, relocation option and many more.

Quite a number of Nigerian students who would be interested in the amazing opportunities Amazon and Microsoft have to offer are most probably held at home in regards to the ongoing Academic Staff Union of University (ASUU) strike which has been on for six months with no definite end in sight.

The struggle for some of Nigeria’s finest minds is in line with the growth of software engineers in Nigeria and Africa as a whole in the last 10 years.

Data from Andela, estimated the continent’s developers to be about 716,000, in which some of them are now startup creators, creating a continuous effect that motivates and inspires young graduates and students across the continent.

Most Nigerian programmers are self-taught with the majority of them relying on online courses, peer groups and other computer programming focused Non-Governmental Organisations  (NGOs) to help them with basic materials for learning, and in some cases, get them laptops.

Universities in the country have been on strike in the last six months forcing many students to seek an alternative or find comfort in online training like computer programming with a long-term plan of working for foreign companies and eventually leaving the country (popularly known as Japa in local slang).

On average, a Nigerian remote programmer earns between $1,000 (N710,000, using a black market rate) to $5,000 (N3.55 million) a month, depending on experience. That is 2,267% when compared to Nigeria’s minimum wage of N30,000.

“We may not have that many engineers who can operate at the scale of these large companies, but that’s just an implementation hurdle that’s easy to hop over, at the risk of trivializing it,” says Justin Irabor, a developer who works remotely in Nigeria for a European company. “As with all kinds of professions, there is a wide variation of talent quality, but I strongly believe we have good engineers here.”

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Telecommunications

MTN Nigeria Strengthens Working Capital By Raising N50bn In New Commercial Paper

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MTN Nigeria Communications PLC (MTN Nigeria) has disclosed plans to raise N50 billion through its latest issuance of commercial paper (CP) to boost its working capital.

The plan is under N250 billion Commercial Paper Issuance Programme.

Not only that this Series 11 and 12 CP issuance is expected to strengthen MTN Nigeria’s short-term working capital, it will also diversify its financing base.

A notification to the Nigerian Exchange Limited and the investing public further revealed that this proposed issuance is part of MTN Nigeria’s ongoing strategy to tap the debt market as a flexible funding source to meet immediate financial needs.

It builds upon the company’s series of CP issuances in the past year as it pursues a robust approach to balance its capital structure.

The funds are expected to support the company’s operational and growth requirements as it seeks to expand its infrastructure, improve service delivery, and cater to the increasing demand for telecommunications and digital services across Nigeria.

MTN’s financial statement as of September 2024 suggests it has negative working capital of about N1.49 trillion

The cash flow is necessary in order to enable the company meet cash flow demands and service short-term debt without over-relying on long-term financing

This approach provides financial flexibility, allowing MTN Nigeria to manage interest costs and adjust its debt profile in line with operational cash flow, which is critical for a company with significant external loans.

The issuance also serves the broader purpose of diversifying MTN Nigeria’s financing sources, reducing reliance on bank loans, and maintaining a balance between short- and long-term debt.

This financial strategy not only enhances MTN’s liquidity but also positions it to better withstand the economic challenges in Nigeria’s volatile business environment.

While the company has yet to disclose specific terms of the Series 11 and 12 notes, further details are expected to be shared in the coming weeks.

 

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E-commerce

Jumia Nigeria Launches Black Friday Offers, Extends Services To Smaller Towns, Villages

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Jumia Nigeria has launched its Black Friday deals and offers as consumers in smaller towns and villages nationwide now have access to its shopping experiences.

The company disclosed that it is expanding e-commerce access bearing in mind that the prevalent economic downturn in the country is having its tolls on many Nigerians, especially those in rural communities.

It disclosed that the campaign will run from November 1st to November 30th, 2024 with the theme ‘No Too Calculate’.

Reiterating its commitment to creating a simpler, stress-free shopping experience for Nigerians amid economic challenges, Jumia promised to allow consumers to enjoy great savings without budgetary worries.

Disclosing that this year’s Black Friday campaign is supported by Xiaomi as the platinum partner, alongside renowned brands such as Oraimo, Nivea, Infinix, Tecno, Itel, Haier Thermocool, Binatone, Pernod Ricard, Diageo, Bacardi, Hikers, Ecoflow, Skyrun, Glamstar, Ledrop, Unilever, Macallan, LG, and others, the CEO, Jumia Nigeria, Sunil Natraj stressed that the campaign is about making e-commerce more accessible to consumers in Nigeria.

Recognising the current economic situation in the country , Natraj said Jumia has worked closely with its brand partners to offer the best possible deals to consumers during this period.

According to him, Jumia expanded its network of Pickup Stations to ensure that even more consumers, regardless of their location, can benefit from the convenience of online shopping.

Harping on the company’s priority of creating real value for both its consumers and sellers through its extensive ecosystem, the CEO said those in rural areas would easily participate in the online shopping and get their delivery seamlessly.

For the Country Manager, Xiaomi Nigeria, Xingyu Yang, everyone deserves access to the latest cutting-edge technology, noting that Jumia Black Friday is the perfect opportunity for consumers to experience Xiaomi’s nnovative products at unbeatable prices.

He said since Jumia introduced Black Friday to Nigeria in 2014, the company has continued to unlock new opportunities for both consumers and businesses, expressing confidence that Nigeria will play a pivotal role in projection that online shopping in Africa will reach $75 billion by 2025.

He added that the Black Friday campaign serves as a powerful platform for international and local brands as well as SMEs to expand their reach and boost sales.

To make the online shopping and delivery easier, Yang stated that Jumia has extended its logistics network and has partnered with hundreds of local logistics service providers that will ensure easy delivery to all corners of Nigeria, including smaller towns and rural areas.

Listed on the New York Stock Exchange (NYSE) in 2019, Jumia is the leading e-commerce company in Africa, operating in 11 countries. The Jumia platform consists of a marketplace, which connects sellers with consumers, a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, JumiaPay, which offers a safe and easy solution to facilitate online payment transactions.

The company offers goods across a broad range of categories, such as phones and electronics, home appliances, fast-moving consumer goods, fashion and beauty.

 

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Technology

Google Supports Nigeria With N2.8bn For AI Talent Development 

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A logo is pictured at Google's European Engineering Center in Zurich

Google, an American multinational corporation and technology company, has given Nigeria the sum of N28.8 billion for the development of Artificial Intelligence in the West African country.

The donation of the money was announced by the Federal Government.

Google, poised to accelerating AI talent development across Nigeria, made the support through a N2.8 billion grant to Data Science Nigeria.

It is believed that the support will strengthen the Ministry of Communications and Digital Economy in its ongoing AI-driven initiatives to empower youth including under and unemployed Nigerians, with a focus on AI skill development and education.

This grant is part of Google’s broader $5.8 million commitment to support digital skills programmes across sub-Saharan Africa.

Nigeria’s Minister of Communications, Innovation & Digital Economy, Dr ‘Bosun Tijani, while announcing the grant in a statement, underscored the importance of the Google’a support in driving the nation’s digital transformation.

President of Google for Europe, the Middle East, and Africa, Matt Brittin, in his remarks disclosed that the company’s commitment to Africa’s innovation ecosystem is to ensure entrepreneurs harness the power of technology, including AI, to proffer solutions to large-scale societal challenges.

He said Google remains committed to supporting these innovators, helping them expand their impact across the continent and beyond.

Brittin stated that Google’s efforts in Africa have always been about unlocking the digital economy’s benefits for more people, adding that the synergy with Nigeria further attests its mission.

Giving insight to the grant, he said it is part of Google.org’s broader $5.8million commitment to support digital skills programs across Sub-Saharan Africa, adding that the financial support will bolster Data Science Nigeria’s work with the Federal Ministry’s AI talent development programs, including: DeepTech Ready Upskilling Programme aimed at providing 20,000 young Nigerians with advanced technical skills in data science and AI, preparing them for careers in this rapidly growing field.

Another area he mentioned is Experience AI Programme which is aimed at equipping 25,000 educators with the tools and resources to teach 125,000 young people about AI, inspiring the next generation of AI innovators.

According to Brittin, Government AI Campus Programme is to upskill policymakers and public servants in AI policymaking, ensuring that Nigeria’s AI policies are developed and implemented responsibly for economic transformation of the nation.

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