Connect with us

Financial

Interswitch: Improving Women, Girls Participation in STEM

Published

on

, SiliconNigeria

Across the globe, the impact of the coronavirus pandemic has changed how we live our lives and has caused a profound shift in human interactions with technology.

Technology has come to the rescue as the pandemic rages on; it provides solutions for businesses, learning, shopping, entertainment, payment and even healthcare.

These technological solutions are premised on the application of Science, Technology, Engineering and Mathematics (STEM) knowledge. Tools for teleconferencing, learning, e-commerce, payment and medical care; research, testing, management and prevention are all examples of the application of science in the fight against the pandemic. These solutions are being driven by men and women in science.

Every year, the world celebrates women and girls in science and this year is no different. The theme for this year’s International Women in Science Day is ‘Women Scientists at the forefront of the fight against COVID-19’. Since the outbreak of the pandemic, women have played important roles in the fight against the disease.

Sadly, studies show that the pandemic has negatively impacted female scientists thereby exposing the gender disparities in the scientific system.

There have been concerted efforts over the years to inspire women and girls in science. However, research shows that the number of female researchers worldwide is still less than 30 per cent.

While governments need to formulate policies that will help change this disparity, it is important that organisations embark on initiatives to support these efforts.

Tech companies across the globe are continually encouraging women and girls in STEM. One of such companies in Nigeria is Interswitch.

Interswitch Group, a leading Nigerian pan-African digital payment and commerce solutions company, has in many ways provided viable platforms to inspire women and girls in technology. The payment technology company runs equal opportunity and gender balanced employment policies. Its workforce shows a sizeable number of female scientists heading mainstream tech departments. The company encourages cross fertilization of ideas, mentoring and collaborations between the older and the younger scientists. This, it believes, will help raise the next generation of tech women who will help Africa take its place in the fourth revolution.

Another way the technology giant is improving the participation of women and girls in technology is through its corporate social initiative tagged InterswitchSPAK. InterswitchSPAK is an annual pan-African competition aimed at re-igniting the study of STEM subjects among secondary school students in Africa.

It is a fact that there are few girls in secondary school science classes and even fewer at the tertiary level. To ensure a fair female participation during the InterswitchSPAK National Science competition, participating schools are urged to register at least two girls among their best six science students.

With continued emphasis on female students’ participation, there was an 18% increase from the first edition to the second edition. The inaugural edition of the competition had a 60% to 40% share of male to female students. The year after, it was 50.9% male and 49.9% female students’ enrolment.

The InterswitchSPAK has its masterclass session where successful individuals share their experiences and mentor the young students. There is also the Innovation Challenge where the students, including the females, are tasked to find technological solutions to societal challenges. The Innovation Challenge allows the students to develop a sense of responsibility towards finding solutions to the problems around them.

Members of the winning team from the Innovation Challenge undergo internship at Interswitch with the tech experts to experience firsthand how technology solutions are developed.

Issues worked on by the students over the years include public transportation, healthcare, and education as it relates to out-of-school children, agriculture, electoral processes and provision of financial services to unbanked Nigerians.

At Interswitch, when it concerns tech, women are just as important as men.

“As we celebrate our women and girls in science this year, we acknowledge their strength and their contributions to the fight against COVID-19. And we couldn’t be more resolved to support them,” says Cherry Eromosele, Group Chief Marketing and Communications Officer, Interswitch Group.

Continue Reading
Advertisement Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

IT in Banking

Namibia Signs on for India’s UPI Tech

Published

on

, SiliconNigeria

The Bank of Namibia has called in NPCI International Payments to help the southern African country develop an instant payments system based on India’s hugely successful UPI. Namibia will tap into the technology and expertise behind India’s UPI to develop real-time P2P and merchant payments. NIPL says it will help Namibia modernise its financial ecosystem, boosting the accessibility, affordability and connectivity for both domestic and international payment networks.

Launched in 2016, the UPI has been central to India’s efforts to use digital payments to boost financial inclusion and has now handled well over 100 billion transactions.

The NPCI international subsidiary was set up in 2020 to push the UPI, as well as the RuPay card network, outside of India. Earlier this year, the unit struck a deal with Nepal’s largest payment network and it has also joined forces with Google Pay to accelerate global expansion.

Johannes Gawaxab, governor, Bank of Namibia, says: “Our objective is to enhance accessibility and affordability for underserved populations, achieve full interoperability of payment instruments by 2025, modernize the financial sector, and ensure a secure and efficient National Payment System.

Continue Reading

IT in Banking

G20 Unveils SLAs for Cross-border Payment

Published

on

, SiliconNigeria

The G20 has identified service level agreements (SLAs) as a priority in helping to achieve its targets in cross-border payment by end-2027. The SLAs define minimum service levels for correspondent banking relationships, the links between payment systems and payment instrument rulebooks.

This can help to meet the G20 goals of making cross-border payments cheaper, faster, more transparent and more accessible, while also ensuring their safety.

The report contains high-level recommendations, key features and guiding questions to inform parties involved in such arrangements. Payment service providers, correspondent banks and/or payment system operators are encouraged to consider the recommendations when establishing new agreements or reviewing existing ones.

The recommendations, key features and guiding questions were informed by a year-long interaction with public and private stakeholders. The recommendations were deliberately kept at a high level. They should not put an undue burden on new and smaller payment arrangements, while still contributing to increased harmonization of new and existing agreements.

Continue Reading

Financial

Nigeria’s SEC Grants Volition Cap License to Kickstart Fund Management 

Published

on

, SiliconNigeria

Volition Cap, an asset management company empowering the hardworking middle-class to create wealth, announced today that it has secured a fund management license from the Nigerian Securities and Exchange Commission (SEC), as of December 2022.

This license allows the company to operate as a registered fund manager in Nigeria, as it prepares to launch a suite of retail and institutional investment products for Africans living on the continent and in the Diaspora.

Founded in 2018, Volition Cap is a game-changing asset manager that leverages traditional cooperatives, a model it created through Volition Cooperative, a licensed multi-purpose cooperative making investing stress-free for its members.

By leveraging technology to distribute products, Volition Cap will reduce the cost of investment services and the challenge of easy access. With the credibility and trust that an SEC license confers, this home-grown business is poised to scale its bespoke products across Africa and the Diaspora.

Subomi Plumptre, CEO of Volition Cap, said, “Our company was founded by entrepreneurs who truly understand the daily struggles of the middle class. From our operation’s inception, we have focused on empowering this group to attain financial success. The SEC license is a significant milestone for us as we introduce retail and institutional products to drive economic growth.” 

Continue Reading

Popular News