• Microsoft has announced a $1 Million investment to provide AI skilling for 1 million Nigerians, confirming its commitment to build the skills of the future to power the country’s digital economy
• The investment was announced at the Microsoft AI Tour in Lagos, Nigeria
• The Microsoft AI Tour is a global event series that unites business leaders, technical practitioners, and AI enthusiasts to explore the transformative potential of artificial intelligence

Africa stands on the brink of a transformative era. Artificial Intelligence (AI) is one of the most powerful disruptive technologies in decades, and its use and implementation in daily ways of working has the power to change the business landscape globally and across Africa.

Nigeria’s AI market is projected to grow by 27.08% annually from 2025 to 2030, contributing significantly to the national economy.

With the right skills and access to digital technologies, AI is poised to add an estimated $15 billion to Nigeria’s GDP by 2030.

In support of Nigeria’s draft National AI Strategy, which aims to equip 70 percent of its young workforce with AI-related skills, Microsoft today announced a $1 Million skilling investment through the Microsoft AI Skilling Initiative, in collaboration with the Nigerian Government, which will provide in-demand AI skills training for 1 million Nigerians.

“At Microsoft, we believe that AI has the potential to transform economies and societies. Our commitment to enhancing AI skills in Nigeria is a testament to our dedication to empowering individuals and organisations to achieve more. By investing in digital skills training and collaborating with the Nigerian government, we aim to create a future-ready workforce that can drive innovation and economic growth in the country,” says Ola Williams, managing director, Microsoft Nigeria and Ghana.

This comprehensive strategic initiative to enhance AI skills in Nigeria is a significant investment that showcases Microsoft’s commitment to advancing digital skills and AI capabilities in Nigeria.

The investment will support various skilling programmes, including digital, AI, and cybersecurity skills training for youth and women.

One million Nigerians will receive sought-after skills for employability

The AI Skilling Initiative investment will expand Microsoft’s skilling programmes to reach one million Nigerians by 2026, including business leaders and senior executives in the public sector.

The investment aligns with the Nigerian government’s national priorities to boost economic growth, promote social development and inclusion, drive industrialisation, foster technological advancement, and invest in digital and creative enterprises.

This investment will further leverage increased access to Microsoft’s skilling resources for Nigerian citizens, developers and business leaders, with the goal of expanding AI and cloud adoption in the country.

“The launch of this AI skilling initiative for Nigeria is not just about individual advancement, but more importantly about uplifting entire communities. We believe that by democratising access to AI education we are creating a more equitable digital future for all,” says Williams.

Microsoft began its investment in skills development in Nigeria in 2021 in partnership with the Government of Nigeria to upskill Nigerians via the 3MTT platform.

By the start of 2024, four million Nigerians had interacted with the platform.

Collaboration between Microsoft and Wootlab Foundation has successfully implemented programmes with a keen focus on AI, preparing participants for success in the digital economy and setting the foundation for future expansions.

In partnership with Tech4Dev, Microsoft piloted the Nigeria Women Techsters programme, while Microsoft has continued its partnership with MTN Foundation, a non-profit arm of the leading telecom company in Nigeria, to train SMEs on digital, productivity and cloud skills using the Microsoft Community Training platform and LinkedIn Learning pathways.

Microsoft has also supported the MTN ICT and Business Skills training programme, which impacted over 4 million Nigerians with free tech skilling content.

The AI Tour provides a hands-on experience

The announcement came during the Microsoft AI Tour, a free, in-person one-day event where business leaders, partners, IT professionals, and the developer community come together.

During the AI Tour, attendees learn about the latest advancements in AI technology and how they can be applied to drive innovation and growth in various industries.

The event features presentations and panel discussions with AI experts and industry leaders including senior Microsoft leadership who provide insights into the future of AI and its impact on business and society.

Each stop on the tour also highlights local customer and partner success stories that demonstrate how AI is being used to solve real-world problems and drive business approaches.

For senior business leaders, this is an incredible opportunity to understand how AI can drive growth and innovation within their organisations, while technical practitioners can gain hands-on experience and learn from experts to stay ahead of rapidly evolving AI trends. AI enthusiasts with an interest in the latest AI technologies and their applications are also welcome at the event.

“Harnessing the transformative power of artificial intelligence is no longer a futuristic vision, but a tangible reality for organisations seeking to achieve exponential growth and optimisation. Microsoft believes that understanding the impact of AI on business goes beyond mere business acumen. Leaders need to be adept at launching, supporting, and evaluating AI initiatives in alignment with strategic business objectives. The Microsoft AI Tour is an exciting opportunity for business leaders, technical practitioners, and AI enthusiasts to come together and explore the phenomenal potential of this transformative technology,” says Lillian Barnard, president, Microsoft Africa.

By fostering innovation, driving economic growth, and enhancing digital skills, Microsoft continues to be a trusted partner in Nigeria’s journey towards a technologically advanced and inclusive society.

Together, Microsoft and its partners, including the Nigerian Government, are shaping the future of AI in Nigeria, unlocking limitless possibilities and creating a brighter tomorrow for all.

The post Microsoft AI Tour: AI Estimated to Add $15bn to Nigeria’s GDP by 2030 appeared first on Tech | Business | Economy.

Ola Williams, the country manager of Microsoft, Nigeria & Ghana, in the company of Lillian Barnard, president, Microsoft Africa, made the announcement at the ongoing Microsoft AI Tour in Lagos, Nigeria.

According to Williams, the investment is a testament to Microsoft’s mission to empower every person and every organization on the planet to achieve more.

“This announcement is one of the ways that we bring this mission to life. I’m thrilled. I am so delighted to announce that, as Microsoft in Nigeria, will be investing one million dollars in the next two years to empower one million Nigerians.

“This is a significant investment in our efforts to ensure that everyone has access to the right skills that they require to really not just only use AI, but to build solutions on AI, build businesses on AI that still be a sustainable means of livelihood for Nigerians.

She thanked Microsoft for believing in Nigeria and Nigerians.

“Thank you, Microsoft for this great investment. The truth is that Microsoft’s interest in Nigeria is beyond business. We want to impact lives and the economy positively”, the country manager said.

The AI Skill Development programme, Techeconomy gathered, is for startups, businesses and government officials.

Also speaking, Lillian Bernard, said Microsoft has been operating on the Continent for three decades, but with a unified team, the global tech giant has opened new opportunities for partners in Africa.

“It is such a great responsibility to come to market like Nigeria to deliver this message. This is part of Microsoft’s commitment on the Continent. As technology evolves, so are the skills. Most of the jobs now are AI jobs, unfortunately there are no enough people to to handle these jobs. We believe this initiative is such a platform to upskill the people”.

The post BREAKING: Microsoft to Invest $1million Upkilling Nigerians in AI appeared first on Tech | Business | Economy.

But according to the latest edition of Microsoft’s Cyber Signals report, education was the third most targeted industry in the second quarter of this year.

The mix of valuable data and inherent vulnerabilities in education systems has caught the eye of various attackers—from those using new malware techniques to nation-state actors involved in traditional espionage.

This is a particular concern for tertiary institutions in Africa, which is one of the most targeted regions in the world when it comes to cyberattacks.

In fact, a recent study of 60 Kenyan universities showed that most of these institutions were experiencing hacks, while also battling a lack of adequate cybersecurity policies and controls, including organisational, human, physical and technological resources.

Just last year a prominent Moroccan institution of higher learning was hit by a security breach of its master’s degree nomination platform, while a private university in Nigeria had its website completely overtaken by hackers.

It’s clear that the education industry’s vulnerabilities haven’t gone unnoticed by cybercriminals. According to the Cyber Signals report, in the past year alone, more than 15,000 emails with malicious QR codes were sent daily to the sector using Microsoft Office 365 email.

This highlights just how targeted and persistent these threats have become.

There are several reasons why hackers often target the education sector. Unlike typical enterprises, universities have a diverse group of users—students, faculty, administration staff, and others. The open and dynamic nature of university environments, with frequent activities and international students, makes them particularly vulnerable to cyberattacks.

Email systems in schools offer wide spaces for compromise

This naturally open environment means universities are often more relaxed about email security. With a lot of emails creating noise in the system, institutions are limited in how they can place controls because they need to stay accessible for alumni, donors, and external collaborations. This mix of openness and lack of controls makes them prime targets for attacks.

Virtual and remote learning have also extended educational applications into homes and offices. Personal and shared devices, which are often unmanaged, are everywhere. Students, not always savvy about cybersecurity, might unknowingly expose their devices to risks.

Legacy infrastructure leaves school systems vulnerable

The tertiary education sector often faces well-known funding and operational challenges. This means that cutting-edge digital classrooms have to operate alongside older applications and other IT assets.

Managing and safeguarding these varied systems is tough, especially when it’s hard to keep cybersecurity experts on staff. This combination leaves school systems more vulnerable to attacks.

Nation-state actors are after valuable IP and high-level connections

Cybercriminals know that schools handle sensitive, regulated information and must stay open and accessible, making them targets for ransomware and extortion.

Universities are hubs for valuable intellectual property and cutting-edge research, often in collaboration with government agencies. This makes them attractive to attackers looking to steal or leverage sensitive data.

For example, it can be easier for hackers to initially target someone in the education sector with ties to the defense sector and then use that access to launch more convincing phishing attacks on higher-value targets.

Introducing a strong security curriculum  

Strengthening security measures can be a daunting and expensive task for schools, but there are steps they can take to protect themselves.

Having a clear understanding of the threat environment is an essential place to start. Reports like Cyber Signals are invaluable resources for chief information security officers and their teams as they refine technologies, policies, and processes.

This quarterly cyberthreat intelligence brief, informed by the latest Microsoft threat data and research, provides expert insights into the current threat landscape and the tactics and techniques used by threat actors. It underscores Microsoft’s commitment to securing the digital ecosystem, in which we play such a central role. At Microsoft, security is our top priority, ensuring we earn and maintain the trust placed in us.

Beyond current insights, maintaining strong cyber hygiene is crucial. Raising awareness of security risks and promoting good practices among students, faculty, staff, and administrators can help create a safer environment.

For IT and security pros in education, starting with the basics and beefing up security is a good move. Centralising the tech setup can assist in monitoring activities more effectively and spotting vulnerabilities more easily. Specifically, the Cyber Signals report recommends that IT teams think about using “protective domain name service,” a handy free tool that can help stop ransomware and other cyberattacks by blocking access to harmful websites. To prevent password spray attacks, they should make sure to enforce strong passwords and set up multifactor authentication.

For under-resourced IT teams, tools such as Microsoft Copilot for Security can significantly enhance the efficiency and capabilities of security defenders, allowing them to improve their security outcomes at machine speed and scale. This AI-powered security solution provides an assistive copilot experience, supporting professionals in end-to-end scenarios like incident response, threat hunting, intelligence gathering, and posture management.

It’s also important for universities to teach students and staff about good security habits and encourage them to use multifactor authentication or passwordless options.

According to the report, accounts are more than 99.9% less likely to get hacked with multifactor authentication.

By putting stronger defenses and proactive measures in place, universities can better equip themselves to fend off the increasing threats to their sensitive data and groundbreaking research.

Building a solid security posture isn’t just about technology; it’s also about fostering a watchful culture ready to manage potential attacks.

Investing in these measures now will safeguard their valuable assets and ensure their critical work continues without disruption.

The post How African Universities can Fortify Defenses against the Growing Threat of Cyber Attacks appeared first on Tech | Business | Economy.

This initiative aims to provide employment opportunities for 100,000 young Africans over the next seven years. The launch of Taltrix is the result of a strategic partnership between Tech4Dev, global tech giant Microsoft, Impact Hub Lagos, Univelcity and the American Tower Corporation.

Tech4Dev operates with a core mission of upskilling young individuals and connecting them to job opportunities using technology as a catalyst. Focused on addressing the pressing issue of youth unemployment on the continent, the organisation has a broad reach, currently active in 22 African countries and the United States.

Joel Ogunsola, CEO of Taltrix, shared insights into the vision behind the initiative during the launch. Ogunsola emphasised the multifaceted nature of the training program, stating, “This entire training program is not just on the tech side, we anticipate every other type of career.” Ogunsola highlighted the demographic challenge faced by Africa, where 70% of the population falls within the employable age group of 17 to 24, posing a significant risk if not effectively addressed.

Oladiwura Oladepo, Executive Director, Tech4Dev, shared some insights about the launch, “Taltrix is not just about filling job roles, we are investing in human capital development to reduce unemployment and underemployment, which will in turn drive economic growth, and shape a brighter future for Africa. We are also building a bridge to connect underserved unrepresented and underrepresented demographics of young people with globally in-demand opportunities for skilled professionals.”

The collaboration between Tech4Dev and Microsoft is key in shaping the Taltrix initiative. Ogunsola credited Microsoft’s commitment to investing in the gig economy and emphasised its significant contributions to human capital development over the past eight years. He noted, “Amongst all the multinationals, you have in any country, they probably have the largest workforce, largest investments in infrastructure, largest investment in people.”

Ogunsola further highlighted the importance of connecting skilled individuals to employment opportunities, a gap that Taltrix aims to bridge. He drew parallels with successful outsourcing models in countries like India, where the sector has become a major driver of economic growth. Taltrix envisions creating a scalable solution that not only addresses unemployment but also contributes to the growth of a $200 billion outsourcing industry on the continent.

Ola Williams, the General Manager of Microsoft Nigeria & Ghana, shared insights into Microsoft’s role in the initiative. Ola Williams highlighted Microsoft’s significant investments in Nigeria, dating back over 20 years. The company has evolved from a three-person team to nearly 200 employees, with a focus on empowering individuals and organisations.

Williams emphasised Microsoft’s commitment to training programs, stating, “In the last dispensation, we signed an MOU with the Nigerian government to skill 5 million Nigerians from basic IT training to advanced training, and also provide them employability opportunities.” She stressed the need for collaborative efforts between private organisations, like Taltrix, and the government to achieve impactful results in empowering individuals with the right opportunities.

Solape Hammond, the CEO of Impact Hub Lagos, expatiated on the role of Impact Hub in the Taltrix initiative. Impact Hub Lagos serves as a co-working space and innovation hub that aims to drive impact and innovation. Hammond shared her journey, reflecting on the vision to help Nigerian businesses grow and scale into global entities.

Hammond highlighted the importance of a coalition of the willing, where diverse stakeholders come together to create a significant impact. She envisioned Taltrix as both a provider of tech jobs and as a stimulator for overall development, creating opportunities for individuals across various sectors and regions of the country. She further pointed to the democratic nature of the initiative, which has the potential to spur development in every part of Nigeria, reducing the pressure on urban centres.

Joseph Agunbiade, Founder and CEO at Univelcity stated that “Univelcity, in collaboration with Taltrix by Tech4dev, is actively advancing the outsourcing of technology talent from across Nigeria. Our operations, firmly established in all six geopolitical zones of the country, enable us to tap into a diverse and rich talent pool. Our vision is to consistently provide A-class talent to meet global demands. Our association with Taltrix stands as a testament to our dedication and confidence in this endeavour.”

Soji Maurice Diya, the Chief Operating Officer of American Tower Corporation (ATC) Nigeria, shed light on ATC’s involvement in the initiative, operating as a wireless infrastructure company with a focus on CSR programs. Diya discussed the “digital communities” program initiated by ATC, where the company set up learning centres nationwide. Tech4Dev played a key role in operationalising this CSR initiative.

Diya further noted the global trend of companies seeking opportunities for outsourcing at the local level. As the cost of labour in the West rises, there is a growing interest in leveraging local skills for tasks such as simulations and engineering. This presents an opportunity for individuals in Nigeria to bridge the gap and offer services at a competitive cost.

Joel Ogunsola conclusively noted that Taltrix is envisioned as a 10-year journey towards becoming the leading employer of talent on the continent. With infrastructure currently set up in 14 Nigerian states, Taltrix seeks to expand beyond this in the coming years, demonstrating the significant scale of the initiative. The ultimate goal is to create a new industry, not just jobs, with the potential to impact various sectors beyond technology.

The success of Taltrix will empower individuals and contribute to reshaping Africa’s economic sector for years to come.

The post From Training to Jobs: Tech4Dev Out with Taltrix to Revolutionise Business Process Outsourcing (BPO) to Africa appeared first on Tech | Business | Economy.

The five-week virtual training, which will be a mix of instructor-led and self-paced learning, commenced on September 4 and will end on October 12, 2023.

The training aims to equip the 3,000 entrepreneurs with business and technological skills needed to build sustainable businesses in Nigeria.

Upon completion of the training, the top 300 participants will each receive part of the N90,000,000 equipment grant.

Speaking on the importance of the training, Odunayo Sanya, Executive Secretary, MTN Foundation, said:

“In Nigeria today, there are a lot of businesses run by young people who require skills to sustain and upscale these businesses. The training we are delivering aims to equip our entrepreneurial youth with technological skills that they can in turn use to grow their businesses. As a technology company, we are committed to empowering young entrepreneurs in Nigeria and we’re constantly seeking ways to bridge the gap between our youths and the skills they require to thrive in a digital world. We will continue to partner with other organisations in this quest.”

Commenting on the partnership, Ola Williams, Country Manager, Microsoft Nigeria, said, “Entrepreneurs play a pivotal role in Nigeria’s economy.

“According to PwC Nigeria, SMEs account for 96 percent of businesses and 84 percent of employment in the country. This adds up to a contribution of 48 percent to Nigeria’s GDP – no small amount. It’s these industrious and resourceful business owners we want to see succeed, but

“At Meta, we strongly believe that small businesses play a critical role in driving economic growth and development, and as such, we are committed to supporting them. We are proud to have invested in programs that are specifically designed to provide small businesses with the resources they need to grow and succeed, and by partnering with organizations such as MTN Foundation, we are able to have a direct and positive impact on the local economy. We invite small business owners to tap into these programs and resources to transform their businesses and thrive in the digital economy”, says Adaora Ikenze, Director of Public Policy, Anglophone West Africa, at Meta.

The 3,000 participants will be trained in modules including digital skills, artificial intelligence, and digital advertising.

The five phases completed were in collaboration with Oracle, KPMG, IBM, Digital Bridge Institute, CISCO, Google, Meta, and Microsoft.

This phase is aimed at young business owners in Ebonyi, Edo, Ekiti, Kebbi, Niger and Yobe State. Since the inception of the initiative, MTN Foundation has trained over 4,000 youths across 16 states in Nigeria including Abia, Adamawa, Akwa-Ibom, Anambra, Borno, Cross River, Imo, Jigawa, Kaduna, Kano, Katsina, Kogi, Lagos, Nasarawa, Oyo and Rivers States.

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Microsoft’s latest Cyber Signals report highlights how cybercriminals are using Operational Technology (OT) as gateways into an organization’s network.

This comes at a time when IoT connections in the region are growing with the GSMA predicting that 1.1 billion IoT connections are expected by 2025 in MENA. It’s this growth in OT and IoT that has given cybercriminals more opportunities to breach an organization’s network.

Microsoft ’s Cyber Signals report is a regular cyberthreat intelligence brief spotlighting security trends and insights gathered from Microsoft’s 65 trillion daily security signals and 8,500 security experts.

The latest edition has found that converging IT, Internet of Things (IoT) and OT systems pose a wider risk to critical infrastructure. 

For CIOs in the Middle East and Africa (MEA), the impact of a possible security breach is top of mind in an increasingly complex threat environment.

This can be seen in the 11.2 percent rise in cybersecurity spending in the Middle East and North Africa (MENA) for 2022. 

The growing rate of digital transformation within the African region is facilitating the emergence of new attack vectors and opportunities for cybercriminals. For Nigerian CIOs the consequences of a possible security breach are their number one concern as they look to navigate an increasingly complex threat and regulatory landscape.

This is according to the Enterprise Security Trends in Nigeria survey, conducted by the IDC and commissioned by Microsoft. Nigerian organizations realize the importance of developing a proactive approach to security.

The IDC survey revealed that 72% of organizations in Nigeria have increased security budgets by 10% or more in the last few years. 

The increase in digital transformation across the region has enabled organizations to manage their buildings, emergency systems and access control with smart devices connected to a network. In addition, we have seen an increase in IoT devices in the workplace to better enable hybrid work such as smart conference rooms with microphones and cameras.  

As the threat landscape continues to expand and become more complex, organizations need to rethink their cyber risk approach to stay one step ahead of would-be attackers.

Cyber Signals found that there are currently over 1 million connected devices publicly visible on the Internet running Boa, an outdated and unsupported software still widely used in IoT devices and software development kits.

“Organizations are more connected than ever before. From the humble Wi-Fi router to the everyday office printer, IT teams need to view their IoT devices differently and secure them as they would any company laptop to prevent security breaches,” says Ola Williams, Country Manager for Microsoft Nigeria and Ghana. “Gaining complete visibility of an organization’s OT systems and protecting its IoT solutions will go a long way in preventing cyberattacks.” 

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Africa is increasingly affected by extreme weather events despite being the lowest contributor to greenhouse gas (GHG) emissions in the world. The continent only emits 3.8 percent, compared to China at 23 percent and the US at 19 percent, yet it is the continent most vulnerable to climate change.

Countries like Kenya, which is experiencing its worst drought in 40 years, and Nigeria, which has seen 600 lives lost in the worst flooding in a decade, are bearing the brunt of the climate crisis.

The World Bank notes that roughly 282 million of Africa’s population is currently undernourished, contributed to by environmental factors such as drought, environmental degradation, and displacement. With each flood or drought, food security declines by 5-20% and the continent’s food import bill could top $110 billion by 2025 unless significant change is implemented through climate resilient farming.

ALSO READ: Championing Africa’s Sustainable Future through Innovation and Exemplary e-Waste Management

Floods, heatwaves, and droughts threaten livelihoods and lives – lives that comprise one-sixth of the global population. With agriculture sustaining 70% of Africa’s livelihoods, it is critical that governments and organisations partner to find innovative solutions to aid precision farming using advanced technologies to revolutionise food production and help eliminate hunger and poverty in Africa.

African countries must adapt to unpredictable conditions through better resource management, such as water management, while implementing sustainable practices in industries like agriculture and energy.

Digitalisation has a vital role to play in sustainability, and Africa is no exception: embracing technology like AI, data analytics, the cloud, and IoT has the potential to transform the continent’s present – and future.

Technology solutions help build a sustainable future

Food and agriculture must become climate-smart to successfully tackle current food security and climate change challenges. Technological advancements in the agriculture sector will help meet the growing demand for farm automation, digitization and sustainability.

Climate-smart agriculture contributes to a range of development goals including reducing hunger and poverty through prediction of weather patterns, growth of suitable high value crops and connection with agriculture experts for further support.

Governments and organisations have made climate pledges to address the climate crisis, but they need support to achieve these targets. This support should be underpinned by embracing solutions that leverage the power of technology – doing so will accelerate progress in creating a sustainable future for the continent through real-world impact.

Tech companies play an integral role in helping partners across Africa embrace and leverage the power of digitalisation. For example, along with investing $1 billion in a Climate Innovation Fund that focuses on emerging climate technology solutions in underfunded markets, Microsoft is also a founding participant in The Carbon Call, a global initiative that uses data streams, machine learning, and cloud computing to improve the measurement, reporting, and verification of corporate GHG emissions.

Microsoft is working to close the climate divide with an expansion of its AI for Good Research Lab into Egypt and Kenya, informed by a new Africa AI Innovation Council.

Tech skills are needed

As companies change to meet the challenges of climate change, this will impact a wide variety of processes and operations, in part based on new applications for digital technology, including cloud services, AI and dedicated services like Microsoft’s Cloud for Sustainability. This will also require an equally vital effort to equip companies and employees with a broad range of new skills needed for climate adaptation and sustainability transformation.

The world’s entry into the digital age has required that computer science move into every school. In a similar way, the creation of a net zero planet will require that sustainability science spreads into every sector of the economy.

One of the great challenges of closing the Sustainability Skills Gap is ensuring that employees receive the specialised training required to fill the jobs of the future. Employers must move quickly to upskill their workforce through learning initiatives focused on sustainability knowledge and skills, while the world must prepare the next generation of workers for the sustainability jobs of the future.

Agri-tech can help meet the climate crisis head on

According to the World Bank, 43 percent of Nigeria’s population doesn’t have access to grid electricity, and Nigeria has the largest energy access deficit in the world. The use of generators is unsurprisingly ubiquitous throughout the country – according to the African Development Bank, Nigerians spend $14 billion on generators and fuel each year. The cost to the average Nigerian’s pocket – and the climate – simply isn’t sustainable.

However, a renewable energy provider is helping small businesses and underserved communities connect to reliable and affordable clean energy and manage their power consumption.

Nigeria’s ICE Commercial Power partnered with Microsoft to develop a cloud-based system to support the maintenance and management of solar microgrids, and the support includes business development, technical support, and go-to-market strategies.

In addition to installing solar panels and battery storage for each microgrid, ICE utilises IoT-enabled smart meters and inverters to track microgrid performance for remote monitoring. Connected customers can also pay for their clean energy using POS, USSD, and mobile bank transfers, and all of this is powered by Microsoft Azure.

Addressing the challenge of our lifetime

Adoption and integration of technologies such as the Cloud, AI and more, into the agricultural space will deliver transformation in the form of precision agriculture, which will revolutionise food production and help to eliminate hunger and poverty in Africa. Other measures include collective behaviour change, driven by creating awareness of the climate crisis to accelerate the positive climate change journey.

Here, strategic partnerships among governments, civil and private organizations allow for knowledge sharing and collaboration.

Every corporate and government needs support – whether through data, AI tools, or digital infrastructure like the cloud to reduce emissions, reach targets, and enable Africa’s sustainable development.

To build a more sustainable future, Microsoft is providing technology like AI, data analytics, machine learning, the cloud, and IoT to support net-zero economies across the continent – because, without the right technology, these ESG commitments are simply too ambitious and overwhelming.

Microsoft Nigeria is also doing its own small part, with the Microsoft office in Lagos receiving Gold LEED certification, which identifies Microsoft Nigeria as a showcase example of sustainability and demonstrates its leadership in transforming the building industry.

The LEED (Leadership in Energy and Environmental Design) is the most widely used green building rating system in the world. Available for virtually all building types, LEED provides a framework for healthy, efficient, and cost-saving green buildings, and the certification is a globally recognized symbol of sustainability achievement and leadership.

There is no doubt that technology is the key to providing innovative solutions to the most pressing sustainability challenges – and these challenges are indeed urgent. According to the African Development Bank, climate change is the most significant “existential challenge” to Africa’s development, and is eroding many of its development gains. To address the challenge of our lifetime, Microsoft is accelerating progress toward sustainability by helping our customers build solutions that benefit the environment – and generations to come.

The post How Tech is Enabling Sustainable Development in Africa appeared first on Tech | Business | Economy.

In her submission, Ola Williams, Country Manager, Microsoft believes that while the global players have been a lot more aggressive in this area of creating capabilities to build a kind of file automation for passive management, automation associated with heavy transaction processes on both the customers’ side, and the policy managers’ side.

“In our region, this has not been the case; not for a lack of intent from the insurance providers but more of a misalignment between those who provide the main insurance services and those who provide technology services.

“There has never been a focus effort to co-invent, co-build and co-innovate”, she said.

Jonah Adams, Managing Director, Interswitch Systegra, said the industry reminds him of where retail banking was in 2002.

“The insurance market is fragmented, not operating at scale and lacks collaboration internally and eternally.

“The market is ripe for intervention, but the question is, what type of intervention is necessary at this time to begin to make the market operate at scale?

“One of the things that a lot of people don’t realise is that when you’re trying to intervene in an industry or market, either the regulator, private sector, or someone that has an interest in the market needs to deliberately make the effort to build a core system that enables that industry to thrive.

“When you look at what is going on in the insurance space, in Nigeria and across Africa, fundamentally, what is missing is that core infrastructure that allows everybody to talk to each other, interact and allow outside players such as fintechs, banks and others, to collaborate with that industry.

“If the market size is about 68 billion, it means someone or a group of people need to take 10% of that potential opportunity and invest in that market”.

According to Adams, the language across the industry needs to be standardised. There must be standardisation around distribution, access, and collaboration to allow people that operate at the periphery to innovate and thrive.

Samuel Ogbu, Group CEO, Old MutualWest, Africa also shared his views thus:

Talking about collaboration, partnerships and ecosystems, we are recognising that we have a common interest in solving problems like any other industry, delivering outstanding customer value.

In getting there, we need to give a lot of value to our partners, the business itself, capital providers, the society and community at large to protect our franchise to operate with.

Fundamentally, the problems have changed, the way they need to be addressed, the way people perceive those problems and the way customers receive those problems have changed. Innovation and technology can help us do two things:

• A process of evolution
• A process of revolution

Evolution is about doing things better. With existing promises that we need to deliver on. We need speed, efficiency, effectiveness because time has moved on, expectations have changed, what was found yesterday is not found today.

The question we all should have in mind is: how can I face the future with greater financial confidence? How can I mitigate risk and solve problems? How can I make better decisions?

In the evolution of that, innovation and technology has a big part to play in helping us be faster, more effective and also helping us know how big the market is.

The second is Revolution. For me, it’s the creation of wealth.

The world that I’ve lived in says I have to be part of an average; how can you make me feel special? How can you sell me user-based insurance? These information come from data and knowing the behaviour of clients. So, partnership is important.

We shouldn’t try to compete, we should collaborate.

Sola Ajayi, Executive Head of Sales, Leadway Assurance had these to say:

If you take a look at the history of the insurance industry, you’d find that in most countries where the industry has had a leap, there are factors involved:

• Situations where there are significant catastrophic impact
• Government regulations

In Nigeria, one of the key issues we have in the economy at this point is the economic situation itself. The customers need to be able to afford insurance.

There’s room for growth but insurance fundamentally requires the big players to collaborate with those who are bringing the needed skill to the table.

We need to be able to understand exactly what the customers need. If the customers see value, they will shove out cash.

The reality is that people are not buying insurance as much as we would like them to, not because they are ignorant or can’t get it. The question we need to address is; why do we not have it?

Mayowa Owolabi, CEO, PaddyCover

Focusing on what has been done to tackle the low penetration of insurance, Mayowa Owolabi, CEO, PaddyCover said:

The key thing in insurance is that not everybody wants it, not everybody wants to buy it because of our spiritual mindset especially in Nigeria, no one wants to bring out money.

What we’ve done to bridge this gap is that we are working with industries, stakeholders and regulators to make insurance more affordable, pushing in market education, insurance benefits and ease of payment.

TechEconomy.ng was the official media partner of #IMT2022 | Insurance Meets Tech

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Data has become a source of wealth and power. Organisations that have data have a lot of power in their hands.

In the context of conversation today, data has become a key disruptive factor that organisations leverage to gain competitive advantage.

Ola Williams, the Country Manager, Microsoft Nigeria, made further submissions while speaking at Insurance Meets Tech Conference held on Thursday, September 29 2022 in Lagos:

Combined with cloud and innovation, data can actually be a game changer in any business and much more so, in insurance today. 

When we look at leveraging the cloud, cloud drives data innovation and gives organisations the ability to gain a lot of insight that would otherwise not be visible to the ordinary eyes.

When you put your data in an aggregated manner, with the right tools, it would give you detailed reporting of what data signifies.

Taking insurance in a literal context

Insurance is the transfer of risk from one entity to another. That means the insurer collects data from the insured, people that have different products with you. That gives you a lot of insights about the behaviours and preferences of your customers. 

So leveraging big data to see the pattern in which an organisation or individual is gaining claims can help you to customise products and services that are relevant to that organisation.

We can leverage data to:

• Gain competitive advantage;
• Provide differentiated offerings to customers
• Engage customers in a more meaningful way that is relevant to them, etc

With all the possibilities, why is there still very slow adoption of insurance?

There are different factors:

1. Regulatory factor

When we look at regulation from a vicinity point of view, then that limits our ability to drive creativity and innovation.

But when you look at innovation from the point of view of how we ensure that we are taking the right steps, the right resources and the right processes to ensure that the capabilities we have today will be able to leverage them effectively, that is a strategy that organisations need to look at.

How do we continue to innovate even within the guidelines of the regulatory authorities and policies in place?

2. Access to technology 

We see access to technology not only in terms of purchasing power, but also, when technology is deployed within the organisation, that is not the end, we have to look at culture, people and processes.

When we have technology without the right people in place, the right culture to adopt the technology and the right processes within the organisation, then that would reduce the ability for the organisation to leverage technology.

For example, an organisation invests a lot of money into technology and they are not seeing results, the issue is not that the technology is not working but probably and most times, the commensurate culture, processes and procedures to make sure that the technology works and ensure the benefits of the business, are not in alignment.

3. Access to talent 

There’s the need to have the right skillset within the organisation that would help to ensure that technology investment is put to good use.

Talent is not just having brilliant set of people, there’s the need for organisations to be deliberate about skilling and re-skilling because technology also evolves and moves at a high speed.

To see the results of technology, the right talent should be attracted and a proper plan put in place to ensure that talents are skilled regularly to adequately utilise the technology investment within the organisation.

When we talk about regulation, regulators and how much we adopt technology, which do you prefer: a retrofit or disruption?

There’s no magic bullet actually, it’s really different from scenarios and the phase that an organisation is in adopting technology. There are organisations that are just starting, it depends on the trends and the drivers within the industry. 

We see some insurance companies that are investing in insurtech now because they need a place to compete with borne-in-the-cloud competition, and we see insurance companies that are just waiting to see how it goes.

So, for insurance companies that are borne in the cloud, they are just disruptive, that’s a distraction but for organisations that have legacy solutions, legacy customer engagement, policies, procedures and regulations, they need to have a blend of disruptive approach as well as retrofit because you don’t want to destroy what you already have. It’s a journey and we need to take on that journey.

It’s important to partner with organisations like Microsoft because we have what we call industry cloud. Today we are invested heavily in bringing in people with industry expertise into our organisation.

Based on our experience working with multiple organisations within the financial services sector where there’s insurance, banking and others, we have worked with several cloud owners and programs. So it is important to have a partner that will work with you to scale your organization and not bring it down.

The post #IMT2022: Ola Williams Speaks on How Big Data Can Disrupt Insurance Sector in Nigeria   appeared first on Tech | Business | Economy.

The roundtable explored how accelerating digital transformation in agriculture is leading to agritech developments that have a tangible positive impact on food security in Africa.

With agriculture sustaining up to 70% of Africa’s livelihoods, Microsoft is working with government and private sector partners to enable data-driven, precision and connected farming that optimizes yields and boosts farm productivity and profitability.

The conversation was led by Microsoft Nigeria Country Manager Ola Williams, in discussion with partners from the Alliance for a Green Revolution (AGRA) and the National Information Technology Development Agency (NITDA).

The discussion explored the ways in which agritech is changing outcomes for farmers across the continent, unlocking productivity and helping farmers access the latest information and farming advice.  

Africa’s agriculture sector is set for exponential growth in the coming decade, with a projected value of USD 1 trillion by 2030.

The continent has also seen rapid growth in e-agriculture solutions and is poised to become the global center of agritech solutions. 

In 2021, agriculture contributed 22.35% of the total GDP of Nigeria, with over 70% of Nigerians engaging in agriculture, largely at a subsistence level.

As the Nigerian government seeks to diversify and move away from a dependence on oil as a source of revenue, it has become important to explore ways to make farming in Nigeria more profitable to encourage more entrepreneurs to consider farming as a viable means of livelihood.

Innovative ideas are needed

One way in which agritech changes the face of agriculture is through democratising information. Agriculture is the main driver of employment in Nigeria; however the sector has seen reduced focus post oil era until recently.

Agriculture is coming to the front burner as the Nigeria government is actively seeking to diversify and drive towards moving away from solely depending on oil as source of revenue.

Some of the challenges agriculture faces in Nigeria is the absence of value addition and supply chain linkages.

Innovating in these areas of challenges will empower farmers to gain faster access to the market and provide them with an opportunity to grow their businesses at scale.

To help farmers adopt technology, partnerships are needed to simplify platforms and provide access to technology, particularly for rural farmers.

To meet these challenges, Microsoft, in partnership with the National Information Technology Development Agency (NITDA) and multi-national companies operating in the country, are hosting an Agro Innovate Hackathon. Microsoft and NITDA believe that within the Nigeria tech eco system lies the solution to solve most of these challenges.

The goal is to create a portal solution where farmers and customers can connect to conduct business, access the internet, and where farmers can gain economic power and improve their profitability.

The Hackathon will produce three winning local agritech startups who will be nurtured through Microsoft’s Africa Transformation Office and NITDA, and the intention is to train 30,000 farmers on the use of the platform, enrolling 10,000 farmers on the platform in the first year.

“The Agro Innovate Hackathon will provide livelihood opportunities in the agriculture sector and contribute to the government’s economic diversification agenda while simultaneously offering our brightest young Nigerian minds the chance to launch start-up ventures that will be nurtured by Microsoft. This is an opportunity to make a platform widely accessible to farmers and bridge the gap between farmers and consumers,” says, Dr Usman Gambo Abdullahi, Director, Information Technology Infrastructure Solutions, National Information Technology Development Agency (NITDA).

Working in partnership with the Alliance for a Green Revolution in Africa (AGRA)

Microsoft also recently announced that it is extending its partnership with AGRA. The new phase of the relationship will promote digital innovation and technology as an enabler to connect the agriculture ecosystems, sustainably integrating stakeholders in the service of strategic value chains.

“Our partnership with AGRA forms part of Microsoft’s ongoing investment in agritech across the continent as we support digital transformation in the sector. We’re excited to continue building locally relevant technology solutions that address the local farmers’ needs and deliver meaningful impact,” says Ola Williams, Country Manager, Microsoft Nigeria.

Through the partnership, Microsoft and AGRA have explored the use of big data and artificial intelligence in enabling data-driven, precision farming to support and increase farm productivity and profitability.

“At AGRA, we realized early on that digital innovation is critical in advancing food security and poverty eradication in Africa. Our partnership with Microsoft will directly support governments, SMEs and farmers, by bringing the digital tools needed to build resilient food systems,” says John Macharia, Lead Program Officer, AGRA Kenya.

“Microsoft is committed to an ongoing investment in agritech on the continent, with the goal of developing agritech that enables data-driven, precise and connected farming that optimises yields, boosts farm productivity and increases profitability. We understand that these important issues will not be solved by one company, but through partnerships with the private sector and our partners in government for maximum impact and benefit to the farmers of Africa,” concludes Williams.

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