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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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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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