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African Development Bank Launches Coding for Employment Program

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The African Development Bank , together with partners – The Rockefeller Foundation, Microsoft and Facebook – launched the Coding for Employment Program at the African Innovation Summit  in Kigali, Rwanda.

By training youth in demand-driven Information and Communications Technology (ICT) curriculum and matching graduates directly with ICT employers, this new Program prepares Africa’s youth for tomorrow’s jobs and unleashes the next generation of young digital innovators from the continent. Coding for Employment will create over 9 million jobs and reach 32 million youth and women across Africa.

The Coding for Employment Program is at the center of the African Development Bank’s Jobs for Youth in Africa Initiative , which aims to put Africa’s youth on a path to prosperity. By 2025, the Jobs for Youth in Africa Initiative will equip 50 million youth with employable skills and create 25 million jobs in agriculture, information communications and technology and other key industries across Africa.

Over the last 15 years, the African Development Bank has invested US $1.64 billion in programs to prepare youth for careers in science, technology and innovation. Putting youth at the center of Africa’s inclusive economic growth agenda is at the forefront of the African Development Bank’s investments and its “High 5s” priorities —building businesses, feeding the continent, expanding power and integration, and improving the quality of life for the people across the continent by preparing youth for today’s competitive digital world.

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As the world moves towards a fourth industrial revolution, the demand for digitization across health, education, and other sectors is on the rise. Digital innovations have the power to solve the continent’s development challenges and are generating new job opportunities. The youth population is rapidly growing and by 2050, is expected to double to over 830 million. Yet, the digital divide in Africa persists and critical skills gaps pose serious challenges to youth securing quality and decent work in a rapidly changing workforce.

“Coding for Employment accelerates investments in Africa’s most valuable resource – its young women and men. That’s why The Rockefeller Foundation is thrilled to join forces with the African Development Bank to help every young African reach their full potential. Our partnership with the African Development Bank will establish 130 Centers of Excellence across Africa to help bridge the gap between the digital hiring news of employers and the skills of Africa’s youth,” affirmed Mamadou Biteye, OBE, The Rockefeller Foundation’s Managing Director for Africa.

According to Ghada Khalifa, Director of Microsoft Philanthropies for the Middle East and Africa, “Digital skills are fast becoming essential for the jobs of today and tomorrow. Unfortunately, these skills are beyond the reach of too many young people in Africa. Together with our partners like the African Development Bank, we are working to change that. The partnership between Microsoft and the African Development Bank will continue to focus on increasing the participation of underserved youth and women while equipping youth across Africa with the skills needed to fill jobs now and in the future,” she said.

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“We are excited to partner with the African Development Bank on the launch of the coding for employment program in Côte d’Ivoire, Kenya, Nigeria, Rwanda and Senegal. Coding for Employment ensures digital skills are accessible to young people and supports youth with securing meaningful opportunities where they can apply their talents, ideas and expertise to advance the continent’s economic and social development,” said Sherry Dzinoreva, Head of Policy Programs at Facebook.

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“By working together with the private sector, donors, policy-makers, and other stakeholders, we can secure a brighter future for young African women and men. As part of this new Program, we seek to cultivate the next generation of innovators and to empower young women to lead the continent’s digital revolution. Investments in youth through programs like Coding for Employment can stimulate inclusive economic growth, put Africa and its youth on the cutting edge of technological innovations and ensure the digital transformation of Africa is led and managed by young Africans for the benefit of the people of Africa,” said Oley Dibba-Wadda, Director of Human Capital, Youth and Skills Development at the African Development Bank.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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