Dutch development bank FMO has announced a $295m (€270m) syndicated loan facility, to Access Bank, Nigeria’s largest lender by assets, to support women-led and youth-led SMEs with working capital at a time when most of them are struggling to stay afloat.

British International Investment (BII), Belgian DFI BIO, BlueOrchard, FinDev Canada, Finnfund, Norfund, Swedfund and social investor Oikocredit backed the facility. BI is committing $50m to the facility while Sweden’s DFI Swedfund is committing $30m.

Michael Jongeneel, FMO’s CEO, said the loan would provide significant support to the sector, notably  in underserved segments such as women and young entrepreneurs, improving  financial inclusion and empowering local entrepreneurs in the agri-business and other SME sectors. 

Access Bank has more than 60 million customers and over 700 branches and service outlets in Nigeria, sub-Saharan Africa and elsewhere. It is part of Access Holdings, which has been listed in the Nigerian stock exchange since 1998. The bank recently acquired Kenya’s National Bank as well TransNational Bank, African Banking Corporation of Tanzania (ABCT) Limited and Standard Chartered branches subsidiaries in Angola, Cameroon, The Gambia, and Sierra Leone in a consolidation move.

Roosevelt Ogbonna, Access Bank’s chief executive officer, said the Tier II Facility agreement underscored “deep-rooted trust” between the bank and the Dutch lender.

“For us at Access, this facility not only enhances our capital reserves but also strengthens Africa’s trade capabilities and export potential. Putting these funds to use, we aim to catalyse growth across various sectors, stimulate business development, create jobs, and deepen financial inclusion,” he said.

After CEO Herbert Wigwe, died alongside five others in a helicopter crash, Access Bank appointed Bolaji Agbede, Access Bank’s most senior founding executive director as acting CEO. Ms Agbede joined Access Bank in 2003 and has nearly 30 years of experience in banking and business consultancy.

Nigeria was home to almost 40 million micro, small and medium-sized enterprises, providing 86% of employment and contributing 50% of  GDP, according to 2022 figures from the World Bank.  

One-third of Nigeria’s fast-growing population of 230 million is unemployed. The country has in recent years had to deal with a number of crises, including food shortages and rising prices for energy and staple foods such as rice. Inflation was 34.2% in June, according to the National Bureau of Statistics of Nigeria, which was a jump of 11.4% compared with the same month a year ago.

The automobile industry has seen great strides in maintaining vehicles and appearance with the most profound one being the development of Paint Protection Film (PPF). Also known as clear bra car film, this technology has evolved from a basic protective measure to a sophisticated product that significantly enhances vehicle protection and value. This piece explores the journey of PPF, the advantages of selecting top PPF brands, as well as tips on choosing the right PPF for your vehicle.

Paint Protection Film

Paint Protection Film (PPF) is a thin layer made of polyurethane or polymer material that is applied on vehicles’ exteriors to protect them from paint scratches, chips, stains and other possible damages. The said film is almost invisible and acts like a tough barrier against typical road hazards thereby preserving an automobile’s aesthetic appeal.

Historical Development

Originally developed during the Vietnam War to protect helicopter blades from flying debris, PPF technology has been adapted for automotive use over the decades. From an ordinary protective film it has become a highly sophisticated product having improved durability, enhanced clarity and additional attributes like self-healing ability and UV resistance. Such evolution represents continuous advances in materials science along with unwavering commitment by automobile industry players towards preservation of cars.

Advantages

There are numerous benefits in going for a top brand name when it comes to ppf. Leading ppf brands provide their products with features such as self-healing properties allowing minor scratches to disappear under temperature exposure hydrophobic properties making water roll off easily. It should be noted that premium quality ppf is also highly resistant to sun damage and chemicals thus prolonging life span and maintaining a beautiful look for paintwork.

Impact

Putting on clear bra car film manufactured by a reputable ppf brand can have tremendous effects on the motor vehicle. It serves as an invisible shield that protects the paint from environmental and road damages without altering the car’s appearance. Investing in a high-quality PPF is like ensuring your vehicle against potential hazards that can affect its value. Regular wear and tear, minor accidents, and exposure to harsh elements can degrade the vehicle’s exterior, but PPF maintains its pristine condition, crucial for preserving its resale value.

Right PPF Brand

When selecting the right ppf brand there are factors like material quality, warranty and reputation of manufacturer that need to be considered. A good PPF brand will offer guarantees against yellowing, cracking, and peeling. Furthermore, it is important to select an experienced installer who knows how to apply the film properly so as to derive maximum results while keeping car aesthetics undamaged. So a wise thing would be to contact professionals who could propose you with an optimal PPF product tailored specially for your car needs in a particular environment.

In conclusion, the evolution of paint protection films marks a significant advancement in automotive care. High-quality ppf purchased from reputable brands enable car owners not only safeguard their vehicles against environmental and road damage but also enhance their overall worth. The significance of ppf concerning vehicular handling and artistic look increases with advancements in technology thus making it necessary for anyone who loves his or her car above others should have one.

Sama, data annotation and model evaluation firm working on artificial intelligence (AI) models for global players has entered into a strategic partnership with The University of Nairobi (UoN) designed to provide employment opportunities to students and faculty and as well increase the Generative AI (GenAI) skills in Kenya.

Sama says the partnership will allow UoN students and faculty to work on various Sama AI projects and gain exposure to the rapidly evolving GenAI environment. Sama will train the staff and students and provide equipment, materials and work areas needed for the part-time employment opportunities.

According to Prof Stephen Kiama, the Vice-Chancellor of the University of Nairobi, “Our partnership with Sama presents a significant step forward for students and faculty, providing a unique platform for students to apply their academic knowledge in a real-world setting, enhancing their learning and experience and better preparing them for the demands of the AI industry.”

This partnership has come at an opportune time as the UoN gears up to establish an Artificial Intelligence School as part of its plans to create skilled manpower for the future.

For a little history, In 2019, Facebook announced it was opening its first sub-Saharan Africa content review centre in Nairobi to provide jobs to a diverse group who speak several languages, including Somali, Oromo, Swahili and Hausa. Sama, then known as Samasource was the local partner hosting the review center.

Carolyn Komen, then Samasource Program Director, said giving work is the most powerful solution to ending global poverty. “We use technology and private sector methods to measurably improve access to work and job training,” she said. “Our team will receive extensive training and support, benefit from industry-leading facilities, and have the opportunity to advance their careers in tech through this partnership.”

The firm in the same month went ahead and raised $14.8M million Series A funding round to scale its engineering, sales and marketing efforts. With the cash, the firm had opened an AI Development Center in Montreal, Canada and a delivery center in Kampala, Uganda adding to it’s operations in San Francisco, New York City, the Hague, Gulu, and Nairobi.

Samasource, at the time, which employed more than 2,900 people, said it would use the funding to further establish itself as a pioneer in the field of AI and training data and continue to deliver secure, high-quality training data to its Fortune 50 companies such as Facebook, Microsoft, Walmart, Continental.

Daniel Motaung, the South African who was working for Meta/ Facebook as content moderator in Kenya claimed that he was paid about $2.20 per hour to review posts including beheadings and child abuse sued his then Kenyan-based employer Sama. Sama had been contracted by Meta for content moderation. His case follows 2020’s suit in the US that saw Meta pay $52m to content moderators who claimed mental health issues caused by their job at Meta.

Motaung said he was exposed to among other things “a live video of someone being beheaded” and suffered flashbacks of the gory images and videos. He was diagnosed with post-traumatic stress disorder and believed that many of his co-workers also struggled with the same. Foxglove, a UK registered non-profit community interest company, helped the South African whistleblower in the case against Sama, his ex-Kenyan employer and US-based Meta/Facebook.

But in July 2023, Sama confirmed plans to enhance its Business Process Outsourcing (BPO) investments locally after engagements with the national government players including the Ministry of Investment, Trade and Industry (MITI) and the BPO Association of Kenya (BPOAK) and Sama Vice President of Global Delivery, Annepeace Alwala added that the firm expanded its service offering to include data annotation solutions. 

“In Kenya, thanks to quality talent, Sama, is today a key player in the data annotation market providing best in class computer vision data labelling services. These services are delivered under the Sama data curation, annotation and validation business lines which we deliver for more than 25% of Fortune 50 companies who trust Sama to help them deliver industry-leading Machine Learning models,” Alwala said. 

She added: “The local BPO Industry is growing at a steady rate with the BPO Association of Kenya estimating that we will jointly create more than one million jobs against more than  $400 million USD in revenue. This makes the industry an important economic player with contemporary global solutions provision capacity.” 

Sama, which started its operations in Kenya in 2011, expanded its labour force to over 3,000 employees, primarily drawn from Kenya but with over 20 nationalities from several African countries. Sama focuses on annotating data for artificial intelligence algorithms by providing computer vision solutions that power AI and machine learning models.

In Kenya, Sama offers a range of BPO services, including data validation, data curation, image and video annotation, content moderation, customer service support, data entry, software development, and 3D Point Cloud annotation forvariety of industries, including autonomous transportation, MedTech, agriculture, and retail solutions.

“Kenya has the potential to become a major player in the global BPO market, and we are excited to be a part of this growth. For over a decade, we have provided individuals who are most likely to be excluded from formal sector jobs. Through our purposeful impact hiring process, we connect individuals from low-income backgrounds, those who didn’t have the opportunity to pursue education beyond secondary school, and those who, prior to joining Sama, lived in extreme poverty with fair paying entry-level jobs,” Ms. Wendy Gonzalez, Sama Chief Executive Officer said. 

Over 25% of Fortune 50 companies including Google, NVIDIA, General Motors, Walmart, Ford, Microsoft, eBay, Ford, and Glassdoor, trust Sama to help them deliver industry-leading machine learning models. 

“Kenya’s skilled workforce, multilingual capabilities, and cultural compatibility are some of the key factors contributing to its competitive advantage in the global outsourcing landscape. As the sector continues to grow, we will work with the government and other stakeholders to help make Kenya an international BPO destination,” Ms. Gonzalez added. 

Over the last decade, Kenya’s BPO industry has continued to attract a surge of global businesses seeking to outsource their operations, creating numerous employment opportunities and driving economic growth. In 2020, Sama became the first AI data labelling company to receive B Corp Certification, formally committing to create positive impact for employees, communities, customers, and the planet. Its training and employment program were recently validated by an MIT-led Randomized Controlled Trial. 

Annepeace Alwala, Sama Vice President Global Service Delivery, stated, “We are thrilled to collaborate with the University of Nairobi to foster the next generation of AI talent in Kenya. This partnership underscores our commitment to driving innovation and creating opportunities for the youth to excel in the rapidly growing field of artificial intelligence. By providing students with practical experience, we are investing in the future of AI and contributing to the growth of the technology sector in Kenya.”

This partnership underscores Sama’s commitment to the national economic development agenda espoused by the Bottom-Up Economic Transformation Agenda (BeTA). This initiative is a significant step towards bridging the digital divide, promising to uplift communities, nurture talent and position Kenya within the global AI value chain.

In a move towards clean energy, Kenya Electricity Generating Company (KenGen) is to add 42.5MW of solar energy in the Seven Forks area to scale up Kenya’s green energy deployment in 2024.

The project, expected to last for twenty-eight (28) months, aims to install a 42.5MW solar power plant in the home of the Seven Forks dams where KenGen generates most of its hydroelectricity.

The additional capacity will enhance renewable energy output and cushion Kenyans against the rising cost of power. It will complement hydroelectricity generation during the day and conserve water for electricity generation at night, especially during drought.

Implemented in partnership with the French Development Agency (AFD), this project is the first of its kind for the NSE-listed company, aiming to deliver more renewable energy to the national grid in response to climate change.

The signing ceremony was attended by Principal Secretary (PS) of the State Department for Energy, Alex Wachira, KenGen Managing Director and CEO, Eng. Peter Njenga, French Ambassador to Kenya, HE Arnaud SUQUET, and AFD Country Director, Bertrand Willocquet.

“France is keen on partnering with Kenya in the deployment of renewable energy to stem climate change, for which Kenya has shown its prowess, as demonstrated in the Olkaria Geothermal Field and the Seven Forks area,” Willocquet said.

During the signing, PS Wachira welcomed the move, describing it as a big win for Kenya. “The project will provide affordable, reliable, clean energy, create employment opportunities, and engage the community through Corporate Social Responsibility (CSR). Indeed, Kenya and France have enjoyed longstanding cordial relations, especially in the energy sector, and this cooperation continues to advance our energy infrastructure for the benefit of the great people of Kenya,” he added.

KenGen Managing Director and CEO, Eng. Peter Njenga, described the partnership as timely, emphasizing the company’s commitment to scaling up its renewable energy capacity by adding additional electricity from clean sources, moving Kenya towards a 100% green energy transition.

“As you are aware, KenGen is committed to achieving Kenya’s goal of increasing its renewable energy capacity to 100% by 2030. We have made significant progress towards this goal, and our partnership with AFD has been instrumental in achieving this great milestone. We are now ready to develop our 42.5MW solar power project, adding more renewable energy to the national grid within 28 months,” said Eng. Njenga.

“This project is going to complement hydro during the day when the sun’s intensity will be high, especially during the dry season. That way, we can conserve water for power generation, mostly at night,” he added.

The Media Council of Kenya (MCK) has strongly condemned the recent violence against journalists who were covering the anti-government protests and riots in various Kenyan cities and towns.

These journalists have reported being shot at, teargassed, and arrested by police while performing their duties.

The latest incident occurred on Tuesday when police officers in Nakuru City shot and injured Catherine Wanjeri, a journalist from Kameme TV, along Kenyatta Avenue as she was covering the Generation Z protests, which enters it’s fourth week.

This event is part of a series of aggressions against media personnel during a day of nationwide unrest.

The MCK, an independent national body responsible for developing and regulating the media in Kenya to promote media freedom, professionalism, and independence, has denounced the violence against journalists.

David Omwoyo, the Chief Executive Officer (CEO) of MCK, stated, “The shooting of Catherine Wanjeri Kariuki, a journalist with Kameme TV, while she was with other journalists and the police is both shameful and terrifying. We commend her colleagues for their quick action to save her life. We wish her a speedy recovery and affirm our support.”

Journalists at the scene reported that the police fired three shots at Catherine, who is now receiving treatment and is in stable condition. She was trying to escape when the police used teargas canisters to disperse peaceful protestors.

The MCK CEO emphasized that this incident clearly shows the police’s lack of respect for press freedom and called on oversight agencies to investigate and hold those responsible accountable.

“To end this impunity, we urge the Independent Policing Oversight Authority (IPOA) to complete investigations and ensure that the police officers terrorizing journalists are brought to justice,” said Mr. Omwoyo.

He further noted that journalists play a crucial role in upholding democracy by reporting on civil unrest and holding powerful institutions accountable.

Mr. Omwoyo also urged law enforcement agencies to respect the media and ensure journalists’ safety at all times. He advised journalists to prioritize their safety, maintain professionalism, and take necessary precautions while working in hostile environments.

Young Scientists Kenya [YSK], yesterday announced it had received 1,780 project abstracts during its launch of the 7th edition of the National Science and Technology Annual Exhibition 2024, a 138 percent increase in submissions compared to last year.

This year’s exhibition is scheduled to take place between 19th to 23rd of August 2024 themed – ‘Using STEM to Champion Climate Change Solutions.”

Speaking at this year’s exhibition launch event, National Director, Dr. Eng. Victor Mwongera, said, “The exhibition will have 200 students and 100 teachers showcasing their projects, with an additional 1,300 students attending virtually. The students and teachers will be drawn from 390 schools across all 47 counties, including 5 special needs schools and 3 refugee schools.”

The 7th Edition of the YSK exhibition aims to inspire students to pursue STEM pathways, showcase their scientific research and innovations, create linkages, and build their skills for further research and commercialization.

Young Scientists Kenya Board Chairperson, Mr. Ben Roberts, noted that the STEM approach to education fosters creativity and non-traditional thinking alongside conventional subjects, motivating and inspiring young people to generate new technologies and ideas that solve problems in their communities.

“Since its inception, YSK has reached over 250,000 students, involved more than 750 schools, including over 20 special needs schools, engaged more than 750 teachers, created over 600 STEM networks, and received over 1,000 student projects,” said Mr. Roberts.

Speaking at the event, visiting Irish Deputy Prime Minister and Minister for Foreign Affairs and Defence, Micheál Martin, lauded the National Science and Technology Exhibition which is modelled around the Irish BT Young Scientist and Technology Exhibition [BT YSTE].

“The BT YSTE has profoundly influenced Ireland’s economy by fostering innovation, nurturing young talent, and encouraging STEM education. This exhibition has not only produced future leaders and innovators but has also significantly contributed to our nation’s economic growth by promoting a culture of scientific inquiry and entrepreneurship over the last 60 years,” noted Mr. Martin.

Mr. Martin appreciated the potential of the Young Scientist Kenya initiative, stating, it embodies a vision that resonates with global aspirations for educational excellence and innovation.

“Ireland fully supports YSK’s mission to inspire and empower young minds in Kenya and beyond. By investing in the youth and their scientific pursuits, we can collectively address global challenges and drive sustainable development,” stated Mr. Martin.

Reflecting on Ireland’s support through the last six years, Martin noted that Ireland has always believed in the power of education and innovation, reiterating Irelands support for initiatives like Young Scientist Kenya aligns with the country’s commitment to global cooperation and development.

“We are proud to stand with Kenya in this transformative journey, just as we have seen the remarkable impact of BT YSTE in our own country” he noted.

Additionally, YSK has awarded 210 student winners, thirteen with tertiary education scholarships, supported two students in receiving trademarks for their winning projects, and delivered six national exhibitions and five STEM bootcamps.

Isaac Muendo, who won second place in the Technology Category at the 2019 exhibition, has since co-founded Arifa Labs, a technology company that develops homegrown cybersecurity solutions to tackle the rising incidents of social engineering attacks.