The African Development Bank, AfDB, and technology giant Intel have formalized their cooperation to equip 3 million Africans and 30,000 government officials with AI skills.

The partnership aims to transform the African digital ecosystem, according to a statement released by the Bank.

Sealed at the recent African Development Bank’s Annual Meetings in Nairobi, Kenya, the deal will help create a critical mass of Africans proficient in Fourth Industrial Revolution (4IR) skills to accelerate growth and productivity and position Africans as contributors, not just consumers of 4IR.

AfDB added that the training will address socio-economic challenges and boost productivity in key growth sectors such as agriculture, health, and education, thereby disrupting traditional growth cycles.

Speaking on the partnership, African Development Bank’s Acting Director of Industrial and Trade, Development, Ousmane Fall, emphasiszed the importance of digital skills for Africa’s youth.

“With advancements in digital technology, our world is rapidly evolving, and so is our youthful population, projected to reach 830 million by 2050. To develop skills on a large scale and at the necessary speed, we need everyone’s cooperation.”

“The Bank is thrilled to collaborate with Intel to work towards this shared commitment. Together, we are shaping the digital future of Africa and empowering our youth,” he said.

Also speaking, the Director of Government Affairs Africa and IGA CTO Liaison at Intel, Bienvenu Agbokponto Soglo, stated,

“Intel looks forward to furthering its collaboration with African governments to make advanced technologies such as AI accessible to all, breaking down barriers related to geography, gender, and ethnicity, and enabling widespread participation in the digital economy.”

The partnership is also expected to support African countries, regional economic communities, and continental organizations in developing harmonized policy and regulatory frameworks in AI, 5G, Wi-Fi 6E, data, and cloud.

The post AfDB Collaborates Intel to Train 3 Million Africans in AI appeared first on Tech Digest News.

The Federal Government of Nigeria has taken a bold step toward redefining the nation’s digital and creative landscape with the inauguration of a technical committee to oversee the Investment in Digital and Creative Enterprises (i-DICE) Program.

With a budget of $617.7 million, the program aims to drive innovation and creativity in the country, and support startups in the digital and creative industries.

Vice President Kashim Shettima, who presided over the inauguration on Wednesday in Abuja, expressed confidence in the committee’s ability to deliver on the program’s objectives.

The I-DICE Programme is a collaborative effort between the government and international partners, including the Bank of Industry (BoI), African Development Bank (AfDB), French Development Agency (FDA) and Islamic Development Bank (IDB), aims to nurture and empower enterprises in the digital and creative sectors.

According to the report, the National Economic Council (NEC) had, at its last meeting in March, endorsed the implementation of the program in the 36 States of the federation and the Federal Capital Territory (FCT).

The Vice-President, described the development as the dawn of a new era in Nigeria, and also revealed that the Ministry of Finance had been mandated to ensure the expeditious disbursement of funds for the iDICE Programme. This, according to him, will pave the way for its swift implementation.

He said “We’ll embark on a journey of innovation, collaboration, and boundless opportunities. A journey that holds the power to redefine the trajectory of our nation’s digital and creative landscape.”

The post FG Unveiles $617.7 Million i-DICE Program to Boost Digitalization appeared first on Tech Digest News.

In a concerted effort to propel inclusive access to digital infrastructure and services, thereby laying the groundwork for the country’s technological advancement, Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), CCIE, has called for substantial investment in Information and Communication Technology (ICT) aimed at fortifying the nation’s economy through the integration of digital technologies.

Inuwa made this call during a meeting with Ms. Edosio Uyoyo and Traore Toho Syevie, a delegation from the African Development Bank (AfDB) at the Agency’s corporate headquarters in Abuja.

The delegation briefed Inuwa on various initiatives being implemented by the Bank, prompting a discussion on the role of ICT in a country’s development.
Inuwa emphasised that ICT is instrumental in creating opportunities, enhancing service delivery, fostering job creation, improving security, and revolutionising conventional approaches.
Speaking on NITDA’s commitment to this cause, Inuwa shared plans to construct additional Digital Public Infrastructure (DPI) and develop tailored modalities to meet the nation’s requirements, ensuring swift and accessible digital services for citizens nationwide.

Providing insights into NITDA’s strategic direction, Inuwa mentioned the agency’s Strategic Roadmap and Action Plan (SRAP 2024-2027) 2.0, structured around eight pillars which include Fostering Digital Literacy and Cultivating Talents, Building a Robust Technology Research Ecosystem, Strengthening Policy Implementation and Legal Frameworks, Promoting Inclusive Access to Digital Infrastructure and Services, Enhancing Cybersecurity and Digital Trust, Nurturing an Innovative and Entrepreneurial Ecosystem, Forging Strategic Partnerships and Collaborations, and Cultivating a Vibrant Organisational Culture with an Agile Workforce.

He added that the Agency’s Strategic Roadmap is in alignment with President Bola Ahmed Tinubu administration’s redefined priorities to “Accelerate Diversification through Industrialisation, Digitisation, and Innovation.

Speaking earlier, Ms. Edosio Uyoyo, the Principal ICT and Innovation Expert from the African Development Bank, lauded NITDA’s initiatives and programs across the country, acknowledging their transformative impact on operational efficiency and service delivery.

She disclosed that the Bank has a framework in place, covering the period from 2020 to 2024, and expressed the need for completion reports to guide future initiatives from 2025 to 2029.

“We are here for the completion reports to guide us towards planning for the next initiative of a four-year plan from 2025-2029. We want to know and understand key areas you are focusing on and we need the bank to prioritise support in order to meet up with ambitious targets at the end of the project time frame” she said.

The post NITDA Boss Advocates Massive ICT Investment for Inclusive Digital Access appeared first on Tech Digest News.

In a groundbreaking collaboration, the African Development Bank (AfDB) has teamed up with the US Commercial Service to catalyze technological advancement across the African continent.

The strategic partnership, forged at the Africa Tech Festival in South Africa, underscores a commitment to mutual benefit and innovation.Under this collaboration, US technology firms are set to provide African governments with cutting-edge technologies aimed at improving internet access, fostering digital skills, and creating a supportive regulatory environment.

In return, these governments will open their markets to the participating US firms, marking a pivotal step in cross-continental cooperation.Ashley Ndir, the senior US Commercial Liaison to the African Development Bank, highlighted the transformative potential of this alliance, stating, “We are at a turning point in Africa’s technological advancement. By bridging insights from the U.S. private sector with Africa’s vibrant markets, we aim to drive innovation and economic growth. This partnership is a testament to that mission.”

Nicholas Williams, Head of ICT Operations at the African Development Bank, emphasized the institution’s dedication to pushing Africa’s digital boundaries. He stated, “As Africa’s premier development finance institution, the African Development Bank will help push Africa’s digital boundaries even further by forging strategic relations, building on historical investments, and, more importantly, tapping into the energy of our young population, who are digital natives.”

The collaboration responds to the findings of a 2018 World Economic Forum report, which revealed that 22 out of 25 African countries lacked public policies to promote innovation.

Recognizing the pivotal role of digital technologies in addressing socio-economic challenges, AfDB aims to bridge this gap by partnering with selected US technology firms.

To date, the African Development Bank has invested $2 billion in digital infrastructure, encompassing regional and national broadband development, fostering favorable policy environments for private sector investments, scaling digital skills, and supporting innovative enterprises.

These initiatives have resulted in lower internet access costs, improved digital literacy, and a conducive environment for business and policy development.Partnering with the US Commercial Service, renowned for fostering international trade, is poised to spearhead digital transformation in Africa.

Both organizations reaffirm their dedication to enhancing digital capabilities, envisioning a future where technology propels growth and prosperity across the continent.

This collaborative effort comes at a crucial time, as Africa faces challenges in meeting essential milestones for ‘Agenda 2030,’ further emphasizing the urgency and significance of such strategic partnerships.

The post AfDB, U.S, Join Forces to Propel Technological Innovation in Africa appeared first on Tech Digest News.

The African Development Bank and Google have formalised cooperation aimed at advancing digital transformation in Africa.

According to a statement, both parties signed a Letter of Intent during the Global Africa Business Initiative at the United Nations General Assembly in New York.

The agreement was a commitment to harness emerging technologies, extend and improve infrastructure, and refine talent and skills in the continent, the statement revealed.

It noted that while working with the African Development Bank, Google would offer technical assistance to bolster entrepreneurs and small and medium-sized enterprises in digitising their businesses, securing financing, mastering digital marketing, and advancing private sector development.

“Our journey from a two per cent telephony penetration in 1998 to today’s era of 4G, 5G, and AI signifies immense progress. With 70 per cent of Sub-Saharan Africans under 30, our focus is on catalysing businesses to create jobs and offer innovative solutions,” said AfDB’s President, Dr Akinwunmi Adesina.

Google’s Senior Vice President of Research, Technology and Society, Dr James Manyika, added, “With advanced technologies like AI, the most profound transformation is yet to come.

“Collaboration will be essential if Africa is to realise this opportunity, building for everyone and ensuring no-one is left behind. We are excited to collaborate with the African Development Bank to work towards this shared commitment.”

Punch

The post Google, AfDB, partner on SMEs digitalisation appeared first on Tech Digest News.

TECHDIGEST – Vice President Yemi Osinbajo has  unveiled 618 million dollars funds for Nigerian Startups at the Official Inauguration of the Investment in Digital and Creative Enterprises (iDICE) Programme and the Unveiling of iDICE logo on Tuesday at the State House Banquet

The vice president said that the iDICE is a government initiative to promote innovation and entrepreneurship in the digital tech and creative industries, especially targeted at job creation.

According to him, the total fund is 618 million dollars, out of which the AFDB provides 170 million dollars, the Agence Francaise de Development, 100 million dollars and the Islamic Development Bank (IsDB), 70 million dollars in co-financing.

“The Bank of Industry (BOI) will provide 45 million dollars as Federal Government’s counterpart contribution to be availed through loans for qualifying startups.

READ ALSO: Nigerians To Pay N1,000 Fee For NIN Integration, Verification

“We expect another 271 million dollars from the private sector and institutional investors.

“I think it is important to mention that private capital has usually been ahead of government effort, the last few years have seen a consistent rise in venture capital investments in Nigeria’s technology ecosystem.

“According to Disrupt Africa’s 2022 Tech Funding Report, Nigeria was the best-funded country in Africa for the second year running, with a minimum of 180 startups.

“Making up approximately 30 per cent of Africa’s funded ventures, raising approximately one billion dollars – substantially ahead of all other countries on the continent on both counts.

“This influx of private capital has enabled startups to expand operations and create new jobs while contributing significantly toward overall Gross Domestic Product (GDP) growth of the country.

“There are of course thousands of startups that have used private funds or debt that goes unrecorded.’’

He said it had become imperative to commence a coordinated approach toward innovation on the continent, bringing together all stakeholders to coordinate efforts at scaling up investments and building programmes that support innovation.

Osinbajo said that the government must provide more support for startups and small businesses while investors must provide more funding.

“This is why the iDICE is important, it brings together the public sector, and our development partners – the AfDB, IDB, and French Development Agency.

“To design a Programme that supports innovation across very critical pillars including policy, infrastructure, access to finance and talent.

“These pillars have been identified as very critical to the growth and sustenance of innovation on the continent.

“As a government, we have consistently provided support to the innovation ecosystem over the last eight years,’’ he said.

He said that in 2028, the Technology and Creativity Advisory Group was set up.

The vice president said that the group brought together stakeholders in the technology and creative industries, to contribute directly to policy formulation, articulation and the design of the technology and creative sectors of our economy.

He said that in Oct; 2022, President Muhammadu Buhari signed Nigeria’s Startup Bill into law, making it the Nigeria Startup Act.

Osinbajo said that the Act would provide a legal and institutional framework for the development of startups in Nigeria, and provide an enabling environment for the growth of startups in the country.

On his part, AFDB’s President, Akinwumi Adesina, said that the digital trends held great promise to help create a massive number of jobs.

According to him, estimates by Endeavor (2022) show that expanding digital infrastructure by 10 per cent will lead to a 2.5 per cent annual growth in GDP in Africa.

“Furthermore, expanding access to the internet in Africa from the current 33 per cent to 75 per cent can help create 44 million jobs, including three million jobs in online services by 2025.

“We are already witnessing in Nigeria the power of digital technologies, tools, and platforms. Nigeria currently has five out of the 11 digital companies that have reached the status of a unicorn with a market valuation of one billion dollars.

“Names that come to mind include Jumia, Interswitch, Opay, Flutterwave and Andela, mainly in the fintech space,’’ he said.

In his remarks, Lai Mohammed, the Minister of Information and Culture, said that Nigeria’s creative industry was not about music and film.

He said the industry comprised other sectors such as advertising, hospitality, writing, comedy, photography, hair and beauty among others.

According to him, the industry employs millions of Nigerians.

“While the music and film industry have combined to put Nigeria on the world map, in terms of revenue generation, fashion generates N2 trillion against music’s N200 billion, hair and beauty generates N1.52 trillion against film’s N140 billion.

“So, I hope that when we start administering these funds, we will look at these figures and we are very glad to share this report with the advisory council,’’ he said.

Other speakers at the event included Niyi Adebayo, the Minister of Industry, Trade and Investment, Zainab Ahmed, the Minister of Finance, Budget and National Planning and representative of the Minister of Communications and Digital Economy, Prof Isa Pantami.

Olukayode Pitan, the Managing Director, Bank of Industry (BoI), and representatives of the French Development Agency and IsDB also spoke at the event.

The post iDICE: Osinbanjo Unveils $618 Million Funds For Nigerian Startups appeared first on Tech Digest News.

TECHDIGEST – The African Development Bank (AfDB), has listed 25 youth-led agriculture sector companies from 14 African countries that have advanced to the finalist round of the bank’s 2022 AgriPitch Competition.

In a statement issued on the website of the AfDB on Tuesday, the bank announced the 25 finalists for the competition.

According to the statement, the finalists will be awarded 140,000 dollars in grants and business skills training.

It made the announcement in collaboration with the implementing lead Private Equity Support and partner organisations Eldohub and the Private Finance Advisory Network.

The 25 finalists include 17 women-owned or led small and medium enterprises.

Thirteen of them are from francophone countries, while the other 12 are from anglophone countries.

The competition targets African youth aged between 18 to 35 years working in the agricultural value chain.

READ ALSO: The Needless Attacks on Pantami over NITDA Bill

Edson Mpyisi, the Chief Financial Economist and ENABLE Youth Coordinator, AfDB said the youths showed potential and innovation that existed in Africa.

“These young agripreneurs show great potential and are a testament to the level of innovation that exists across Africa.

“The bank’s support, through the AgriPitch Competition, will boost the bankability of these projects and provide a tangible step toward enhancing agribusiness and food security on the continent,” Mpyisi said.

Furthermore, Diana Gichaga, Managing Partner at Private Equity Support said it was to evaluate potential from across the region.

“Its reassuring to see and evaluate hundreds of great potential investment opportunities from across the region.

“It reaffirms the crucial role that the agricultural sector plays in the African economy and the continued efforts to bring these initiatives to the fore through platforms such as the AgriPitch Competition,” Gichaga said.

The competition received more than 1,000 applications from African “agripreneurs,” including about 250 entries from women-owned or led small and medium enterprises.

The 25 finalists would receive training to build business skills capacity with the requisite tools and knowledge to bolster their investor readiness, financial management, and help them pitch bankable business proposals.

The AgriPitch competition is a central and recurring activity of the AfDB’s ENABLE Youth Programme, sponsored by the Youth Entrepreneurship and Innovation Trust Fund of the bank.

The 2022 edition is expected to award three start-up categories.

They are: Early start-ups (zero to three years of operation), and mature start-ups (three or more years in operation).

Also included are women-empowered businesses (firms with at least 51 per cent share of women ownership or founded by a woman).

The finalists are expected to pitch their business plans to potential investors in the AgriPitch deal room and be eligible for one-on-one mentorship, as well as access to post-competition digital expertise. (NAN)

The post AfDB Names 25 Finalists For $140,000 AgriPitch Competition appeared first on Tech Digest News.

TECHDIGEST – The Federal Government has opened applications for the National Startup Investment Programme.

The programme, which is a sequel to the recently passed Nigeria Startup Bill, will be supervised by the Federal Ministry of Industry, Trade and Investment in partnership with the African Development Bank (AfDB) and Bank of Industry (BoI).

According to the government, the goal of the 2022 programme is to empower and create a baseline of 100,000 new businesses through funding and mentorship for new and existing businesses and business ideas.

Who can apply

The programme is designed for Nigerians between 18 and 65 to assist them with seed capital and help them to develop lifelong skills for becoming change-makers in their communities and players in the domestic and global markets.

READ ALSO: NITDA Warns Nigerians About WhatsApp Data Breach, Cyberattacks

Nigerians that fall within the age range and have viable business ideas can apply.

Aside from that, the government said an eligible applicant could be an individual or a startup who must reside in Nigeria and have a traceable government-issued means of Identification.

How to apply

 The process is easy. You can begin on your phone, tablet or laptop. An application form is to be filled and submitted online via the programme’s portal: https://nationalstartupinvestmentfund.com/

According to the government, all applications will be processed and the list of successful beneficiaries will be released in 3 batches. Verification of identity will be done for the successful applicants after which funds will be disbursed.

The post How To Apply For FG’s Startups Investment Fund appeared first on Tech Digest News.

TECHDIGEST – The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina,  has identified the many ways that Nigeria can leverage technology to help boost food security and transparency.

He disclosed this while receiving an honorary doctorate, which was conferred on him at the 38th Founders’ Day and 30th convocation ceremony of the Federal University of Technology Minna, in Minna on Wednesday.

This was contained in a press statement published on AfDB’s website, and titled ‘AfDB President, Akinwumi Adesina awarded an honorary doctoral degree at the Federal University of Technology Minna: Calls on graduating class to create a new, greater and dynamic Nigeria’.

Adesina was quoted in the statement as saying, “Technology drives the world. As Minister of Agriculture, I turned to the power of technology, mobile phones, to provide 15 million farmers with access to improved seeds and fertilizers, with a view to ending corruption in the sector.”

“It was revolutionary – the first, not only in Africa but in the world. It helped Nigeria produce a record additional 21 million metric tons of food. It boosted food security and expanded wealth for farmers, from the northeast, northwest, north-central, southwest, east, and south-south of the country. It brought transparency and accountability in the use of public funds.”

The statement also read, “Several Nigerian Fintech entrepreneurs are already using tech to deliver digital payment systems with three of Nigeria’s fintech (Interswitch, Pay Pal, and Flutterwave) reaching the $1 billion mark. Adesina said African Fintechs raised $1.4 billion in 2019, three times what was raised in 2019, and in 2021 they raised about $5bn.”

Adesina further emphasized the key roles of technology for enhancing security systems, military reconnaissance and intelligence, satellite imagery, and remote sensing to track the effects of climate change, artificial intelligence, alongside drones to deliver agricultural inputs and medical supplies to remote locations.

Adesina also stressed that cognitive robots would become a part of office and industrial spaces in the future.

He was quoted as saying, “Cognitive robots now power industrial manufacturing. In the very near future, due to machine learning and artificial intelligence, your colleagues in the office or industry will not be just Musa, Emeka, Yetunde, or Ada, but Yekini Jones or Bobo – the robots. They will even wear caps or head ties.

“Through facial recognition, Yekini and Bobo the robots will greet you every morning, saying “Hello Musa, Emeka, Yetunde, and Ada. And you will say, “Hello Yekini, Hello Bobo. Let’s roll.”

It was also stated that the AfDB was preparing the youth of Africa to lead in the new digital economy, as the Bank provided $170m to Nigeria to help drive its i-DICE initiative that will help expand the digital industry and grow jobs in the creative industries.

The post How Technology Can Boost Food Security, Transparency in Nigeria – AfDB President appeared first on Tech Digest News.

TECHDIGEST – The board of the African Development Bank, has approved the sum of $170 million to finance Digital and Creative Enterprises Program (i-DICE) in Nigeria, which is a Federal Government of Nigeria initiative to promote investment in digital and creative industries..

The program, which is part of Nigeria’s efforts to build greener environment to create more sustainable jobs for the teeming youthful population, targets more than 68 million Nigerians aged 15 to 35 years who are recognized as leaders of innovative, early-stage, technology-enabled start-ups or as leaders of creative sector micro, small and medium sized enterprises.

The program is co-financed by the Agence Française de Développement (AFD) and the Islamic Development Bank (IsDB).

“Governments have a much greater role than just policy making. They need to be innovative and create an enabling environment that includes infrastructure and de-risking to harness private sector investments in key growth sectors,” said African Development Bank President Akinwumi A. Adesina.

He believes that the investment in Digital and Creative Enterprises Program will also support the leaders through enterprise support organizations – groups that support, train and sometimes fund entrepreneurs – including innovation hubs, accelerators, venture capital and private equity firms.

“Bank financing of i-DICE will help the Government initiative further consolidate Nigeria’s position as Africa’s leading start-up investment destination and as a youth entrepreneurship hub,” he added.

The i-DICE program is among the latest series of ADB operations meant to bolster the implementation of the Bank’s Jobs for Youth in Africa Strategy. Given that tech-enabled enterprises cut across all the economic growth sectors, the program’s focus on the digital sector will deepen Nigeria’s job creation efforts.

The initiative will stimulate investments in 226 technology and creative start-ups and provide non-financial services to 451 digital technology and small and medium enterprises. The program is expected to create 6.1 million direct and indirect jobs, of which the Bank’s financing will support the creation of about 850,000 jobs. The value added to the Nigerian economy connected to the program is estimated at $6.4 billion.

The program will boost Nigeria’s venture capital market through independently managed funds focusing on digital and creative enterprise. These funds aim to attract an initial capitalization of $433 million in private and public sector financing.

The post ADB approves $170m loan to finance a digital program in Nigeria appeared first on Tech Digest News.