Microsoft announces the appointment of Mirna Arif as the Country Manager to spearhead its operations in Egypt.
In her new role, Mirna will oversee Microsoft’s efforts in the country to empower public and private organizations. To accelerate their digital transformation agendas and better engage customers, empower employees, optimize operations and transform business models.
Mirna Arif brings over 18 years of experience. Spanning multinational organizations and public sector entities across Middle East and Africa (MEA). She joined Microsoft in 2019 as MEA Business Group Director. Tasked with leading the strategy and execution of the company’s Surface portfolio in the region.
“Our mission is to empower every person and organization on the planet to achieve more. I’m thrilled to further this mission as we continue to expand Microsoft’s footprint in Egypt. And unlock its growth potential,” she said.
“The Egypt Vision 2030: Sustainable Development Strategy represents a foothold on the way towards achieving inclusive development– and technology sits at the heart of this. I look forward to working closely with our customers and partners to accelerate the country’s digital transformation journey and contribute to its competitiveness.”
Prior to joining Microsoft, Mirna spent several years in important roles for organizations. Including, Schlumberger, the Ministry of Petroleum in Egypt, Emerson, and Baker Hughes GE.
She holds a Master of Business Administration (MBA) in marketing and operations. And a Bachelor’s in computer science, from the American University in Cairo.
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With cryptos not looking appealing with recent trends, investors are seeking alternatives. Is forex trading an answer? Let’s take a look.
Cryptocurrency
Cryptocurrency has become a trendy investment topic over the course of the last five years or so, and it’s never been hard to see why. It offers an entirely new opportunity, decentralized and set apart from ordinary investment markets. For many in Africa, it can also be somewhat more accessible than those traditional investment markets. And, of course, there have always been arguments suggesting likely profits. That bitcoin and its closest counterparts will one day skyrocket to high values. Or that cryptos will serve as “hedges” in times of economic downturn. There is definitely some logic to all of this. But all of a sudden cryptos aren’t looking quite as appealing, which could lead some investors to seek alternatives.
Crypto mining in Africa
For starters, there’s the fact that crypto mining in Africa has begun to feel somewhat problematic. Last year, we wrote about the ‘Top Five Countries Mostly Impacted By Ransomware And Cryptocurrency Mining’. Several African nations (Ethiopia, Cameroon, Tanzania, and Zambia) were included. While not nearly as many people mine cryptocurrency as actually use it or invest in it, this does pose a larger problem. Concerns over malware could reduce the flow of new cryptocurrency into Africa, stunting the market and potentially dissuading would-be investors.
There’s also the “hedge” argument to consider. For many years now, crypto advocates have tended to suggest that digital currencies would resist economic downturns and serve as financial safeguards in much the same way gold has occasionally done in the past. Now, however, faced with its first big test on this front, cryptocurrency is coming up short. As world markets plunge in reaction to the coronavirus pandemic, NewsBTC writes that bitcoin is at risk of a massive drop-off (and it has already plunged sharply). This is not to say that the hedge argument has been conclusively disproven. But right now cryptos don’t look any safer or more reliable than ordinary market investments.
Fresh alternatives for investors
This brings us to our main point, which is that we may begin to see African investors seeking fresh alternatives. Options that are not tied to traditional stock markets, but which also don’t involve cryptocurrency. And one logical option is going to be the forex trade.
If you aren’t well versed in the forex trade, it’s actually fairly simple to grasp. At least on a fundamental level. Basically, it is the worldwide market comprised of the exchange of different currencies for one another. It is by nature a decentralized investment market, and one that operates 24 hours a day during the week. FXCM adds that it is the most liquid market in the world as well. Meaning its trade volume exceeds that of any other market (and vastly so, in fact).
In a sense, that description closely matches how many investors view cryptocurrency. The characterizations that the market is decentralized, enjoys high liquidity, and functions via the exchange of different currencies could certainly apply equally to forex and cryptocurrency. This is one reason that the former could become such an attractive alternative to African investors if indeed they start to back away from cryptocurrency. Fundamentally it’s a similar way to invest. Except that it does away with some of the uncertainty that surrounds crypto markets.
Similar?
It may also be that the similarities don’t end there, either. Another thing investors tend to like about the crypto market is that transactions occur via blockchain technology. Which ensures a certain degree of security, fairness, and in many cases efficiency. This method of trading transaction initially only found in crypto markets. However, the last year or so has brought about continual stories concerning the adoption of blockchain tech by other trading entities. For instance, Reuters covered HSBC’s blockchain venture just last year. Revealing that the company had “reduced the cost of settling foreign exchange rates by a quarter” through a blockchain-based system. This could indicate that before long a significant portion of worldwide forex trading will use this technology.
None of this means that forex trading is identical to crypto investment. There are significant differences between the two. However, if crypto does start to look like a shakier prospect, we could begin to see investors in Africa and elsewhere turn to forex as a fairly logical alternative.
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Microsoft
and Ministry of Agriculture sign MOU to help farmers in Kenya solve key
challenges
As part of its ongoing investment into agriculture for social good and AI, Microsoft announced the signing of a Memorandum of Understanding with the Ministry of Agriculture, Livestock, Fisheries and Cooperatives (MALFC) to collaborate in accelerating innovation in the agricultural sector in Kenya.
The
Memorandum of Understanding will enable the Government of Kenya, through MALFC,
to tap into Microsoft technology to accelerate the aspirations of achieving
100% food and nutrition security in the country as part of the Government’s Big Four programme. This is
an accelerated five-year development plan designed to fast-track the
realisation of Kenya’s Vision 2030 programme through four key pillars,
including food security.
“To
ensure that we achieve our Food Security goal, we are striving for a 34 percent
increase in the daily average income of farmers, a 47 percent reduction in the
cost of food as a percentage of income, a 50 percent reduction in the number of
food-insecure Kenyans and to create 1,000 Agro-SMEs and 600,000 new jobs. Microsoft’s
technology will enable us to find innovative solutions that drive progress in
agriculture and support our 2030 vision,” says Principal Secretary for
Agriculture, Livestock, Fisheries and Cooperatives, Proff. Hamadi Boga.
Microsoft
aims to support digital transformation in agriculture in order to drive
economic growth. Microsoft is deeply
engaged with finding innovative agri-tech solutions for African agricultural
problems, and has previously partnered with the World Bank through its One
Million Farmers Platform, and the Alliance for a Green Revolution in Africa
(AGRA), to co-create technology solutions in Africa.
As a
partner to MALFC, Microsoft will design, pilot and launch a programme to drive
agricultural solutions innovation that addresses key challenges facing the
agricultural sector such as pests and disease control, sustainable agricultural
resource management, agri-weather data, and others.
“Microsoft
believes that adoption and integration of technologies such as the cloud, AI
and more, into the agricultural space will bring about this transformation in
the form of precision. Microsoft wants to enable agricultural firms to become
thriving digital businesses that provide sustainable food and nutrition to the
world,” says Microsoft Kenya Country Manager Kendi Nderitu.
Microsoft
will leverage its Open Data Platform and Azure Chatbot services to help farmers
with agricultural pest control diagnostics. Microsoft 4Afrika will also co-host
workshops involving a wide range of agri-tech stakeholders including the World
Bank Food and Agriculture Organisation (FAO), Kenya Agriculture Livestock and Research
Organisation (KALRO), AGRA and others, to address issues in Kenya’s
agricultural data ecosystem.
In addition to its partnerships with AGRA and the
World Bank, Microsoft’s investments in agriculture include its FarmBeats project,
which is using is low-cost sensors, drones and machine learning algorithms to
support data-driven, precision farming. Previous winners of its AI for Earth
grants in Africa include SunCulture, DHI Group and the International Centre for Tropical Agriculture, who are all using artificial intelligence to
address food security and nutrition in Africa.
Through
its 4Afrika initiative, Microsoft will also partner with MALFC to recruit,
train and place interns through its Interns4Afrika
programme. This initiative seeks to offer young graduates the chance to grow
their careers through six-month placements in Microsoft partner organisations.
The programme helps bridge the gap between graduate skills and the skills set
employers are looking for, while providing graduates with real-world, hands-on
job experience to assist them in moving from learning to earning. By having
access to Microsoft trained and certified interns, Interns4Afrika partners can
extend their talent pipeline and retain strong talent.
“Agriculture is a priority area of investment for
us, not only because of the enormous number of livelihoods it supports and the
economic growth it drives, but also because it has a high potential to be a
data-driven sector,” says Amrote Abdella, Regional Director of Microsoft
4Afrika. “We’re fully committed to supporting agricultural transformation
starting in Kenya – and the rest of Africa – and more critically, the
innovators who are key drivers of this digital transformation.”
Microsoft 4Afrika has previously collaborated with the Alliance for a Green Revolution in Africa (AGRA) to co-create technology solutions in Africa. The partnership explores the uses of big data and AI in enabling data-driven, precision farming that increases farm productivity and profitability, and supports AGRA’s digital transformation as it works to improve food security for 30 million farming households across 11 countries by 2021.
The partnership is demonstrative of Microsoft’s ongoing investment in agri-tech across the continent, which also features partnerships with Twiga Foods, a mobile-based business-to-business food supply platform that links smallholder farmers in rural Kenya to informal retail vendors in cities.
Two student teams from Africa emerge as winners in this years Microsoft Europe Middle East and Africa (EMEA) regional final. The teams from Tunisia and Kenya will go on to represent the region at the world championship in Seattle. For a chance to win the grand prize of USD100,000 cash, USD50,000 Azure credits and a mentoring session with Microsoft CEO Satya Nadella.
The Knights from Kenya and RedWalls from Tunisia took the winning spots. Each winning USD 8,000 cash, Azure credits and an all expenses paid trip to the World Championship in Seattle. Three runner-up teams conclude the winning teams. Wild Eye from Kenya, Allez from Ukraine and Vhysio from the United Kingdom. Each runner-up team getting USD 2,500 cash and Azure credits.
No African team has clinched the prestigious grand prize in the eighteen years history of the cup competition. Can the teams make history this made? We look forward to bringing you the world championship from Microsoft Build 2020 in May. When the EMEA champions take on their Asia and Americas counterpart.
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Ivy Barley, co-founder of African women in tech non-profit organization Developers in Vogue, joins Microsoft. She joins Microsoft in Redmond as Program Manager in the Office 365 Experiences and Devices Team.
“Stoked to announce the next stage of my career growth”, Ivy takes to her Twitter social media page to make the announcement. She is optimistic about the opportunity to make a bigger impact at Microsoft and take her company to another level.
I’m glad to part of @Microsoft, a company that’s leading technological advancement globally. I’m even more proud to be associated with a company that loves and supports the work we do at @devinvogue . This is literally ‘Come as you are, do what you love‘.
I'm glad to part of @Microsoft, a company that's leading technological advancement globally. I'm even more proud to be associated with a company that loves and supports the work we do at @devinvogue . This is literally 'Come as you are, do what you love'.
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Online money transfer company WorldRemit announces lower transaction fees when you use the platform. Introducing a new simple flat fee for all mobile money transfer transactions to Kenya. The company shares no matter how much you send, you will pay a simple flat fee of $0.99.
The announcement from WorldRemit reads:
Thanks to our growing number of customers, we’ve been able to lower our prices to Kenya. Our fees were already low. But from now on, they’ll be even lower with a simple flat fee of $0.99 on however much you send as a mobile money transfer. Plus, our FX rates are as competitive as ever.
In 2011, the company expanded its online money transfer service to Kenya. Offering instant cash pickup, bank deposits to banks and transfers to mobile accounts. Charging rates of £2.99 for transfers up to $100. As at February 2020, only transactions below 1,000 KES or about $10 attracted fees of $0.99. With the new fee, customer can send the maximum MPESA transfer of 70,000 KES and pay only $0.99 in fees.
I have been using WorldRemit to top up airtime and send MPESA since 2018 and it has been flawless. Ask me anything about the service and i’ll answer you.
Want to give the services a try? Use my referral link or code SYLVESTERA74 to register and we both get 20 USD each when you send 100 USD.
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