Blog (EN) - Page 3 of 31

14Jan

The 10 Major LinkedIn Mistakes and How to Stand Out

In the ever-changing African job market, it’s crucial to adapt to the evolving landscape, especially in the wake of the coronavirus pandemic. As someone deeply involved in talent acquisition across the continent, I, Chams DIAGNE, understand the significance of preparing for the post-pandemic era. Let’s explore ten key aspects of optimizing your LinkedIn profile in the African context and avoiding common pitfalls:

1. No profile photo, personal connections matter greatly. The absence of a LinkedIn profile photo can signal a lack of commitment. Choose a recent, professional-looking photo that exudes confidence and approachability. Whether taken by a professional photographer or a friend with a smartphone, your photo is a valuable asset. Additionally, don’t overlook the background image; it can capture recruiters’ attention and pique their interest.

2. A lackluster introductory ‘Headline’ Your LinkedIn headline is your digital introduction. Think of it as your answer to the question, “What do you do?” If your job title and company are impressive, highlight them. However, if a concise description can convey not just your role but also your approach, go for it. In Africa, emphasizing your impact and unique qualities can set you apart in a competitive job market.

3. Not selling yourself enough in the ‘About’ summary Your LinkedIn summary is your elevator pitch. In Africa, where personal connections are vital, use first-person language to engage with your audience directly. Avoid clichés and delve into what makes you exceptional. Share not just what you do but why you’re passionate about it. Tailor your summary to demonstrate how your skills and experiences can benefit potential employers on the continent.

4. A bare and basic ‘Experience’ section Your LinkedIn experience section shouldn’t be a mere list of past jobs. It should narrate your accomplishments. Similar to your resume, prioritize achievements and quantify results when possible. Acknowledge collaborative efforts by crediting team members. Incorporate industry-specific keywords to boost your profile’s visibility, and regularly update it as you achieve more in your African career.

5. Not being proactive with ‘Recommendations’ Endorsements are valuable, but personalized recommendations carry even more weight. Seek recommendations from colleagues who can testify to your skills and work ethic. In Africa, where word-of-mouth and referrals are influential, authentic, detailed endorsements from peers can significantly enhance your profile’s credibility.

6. Too much—or too little—‘Activity’ Maintaining an appropriate online presence is essential in Africa’s job market. While staying active on LinkedIn is crucial, excessive online activity can be seen as a distraction. Find a balance that reflects your genuine interest in your work and your desire to connect with others. Engage in meaningful online discussions and interactions to demonstrate your commitment without overwhelming your profile.

7. Leveraging African Networks In Africa, networks are crucial for career growth. Connect with professionals, organizations, and alumni from your region and industry. Engage with local groups and forums to tap into the extensive African professional network on LinkedIn.

8. Showcasing Cultural Sensitivity Africa is diverse in cultures and languages. Highlight your cultural sensitivity and language skills on your profile. Mention any experience working across different African countries or with diverse teams, demonstrating your adaptability.

9. Highlighting Impactful CSR and Sustainability Initiatives African companies increasingly prioritize corporate social responsibility (CSR) and sustainability. If you’ve been involved in such initiatives, emphasize them in your profile. Showcase your commitment to positive change and community engagement.

10. Skills in Demand for the African Market Stay updated on the skills in demand within your specific African job market. Highlight these skills on your profile, and consider taking relevant courses or certifications to bolster your credentials in areas such as technology, digital marketing, or sustainability, depending on your industry.

In a rapidly evolving job market in Africa, your LinkedIn profile can be a powerful tool. By addressing these common mistakes and tailoring your profile to reflect your unique talents and experiences, you can position yourself for success in the post-pandemic world. Remember, your online presence is your digital calling card, and in Africa, where networking and personal connections matter greatly, it can make all the difference in your career journey.

Note: If you found this article helpful, please don’t hesitate to share it and leave comments on the points that resonate with you the most.

14Jan

Always wait for a firm job offer before leaving your current position

In the African professional context, career choices are of paramount importance. At some point, you may find yourself considering leaving your current job due to a challenging work environment, disagreements, or simply to advance your career. However, a golden rule should guide your steps: never quit your job before securing a solid job offer. This article explores why this rule is essential, particularly in an African context where the absence of unemployment benefits makes financial security even more critical.

Financial security: Your Lifesaver

In Africa, losing your job can mean an immediate loss of income without a financial safety net. Resigning without already having a new job lined up puts you in a precarious situation. This can lead to months of financial difficulties, stress, and hardship, with limited prospects for improvement. You risk depleting your savings, accumulating debt, or even compromising your standard of living.

The common mistake of Senior professionals

The quest for a new job or a career transition is not limited to young professionals starting their careers. Even experienced professionals, often referred to as “seniors” in the professional world, may desire to explore new horizons or change their career path.

Some senior professionals, confident in their experience and skills, may feel more assured in their job search. However, this confidence can sometimes lead to hasty decisions. They may underestimate the challenges of the job market, assume that their experience will speak for itself, or be impatient to leave an unsatisfying professional situation. This mistake can have dramatic consequences for their financial stability and long-term career.

The Power of Negotiation

Keep in mind that in a competitive African job market, already having a job gives you significant negotiation power. Your current employer, fearing to lose you, might be willing to improve your working conditions, offer a salary increase, or provide additional benefits. By resigning prematurely, you lose this negotiation leverage, potentially making prospective employers less inclined to meet your demands.

Preparation is key

Searching for a new job in Africa can be time-consuming. Between seeking opportunities, attending interviews, navigating recruitment timelines, and negotiating, several weeks or even months may pass. During this period, your current job provides essential financial security and stability. It also gives you time to carefully select the opportunity that aligns best with your professional aspirations. Moreover, you might change your mind along the way or discover internal opportunities that better suit your career goals.

In conclusion, in the African professional context, the golden rule remains indispensable: never resign from your job without a firm job offer in hand. This prudent decision can help you avoid financial difficulties, strengthen your negotiation power, preserve your reputation, and allow you to better prepare for your career transition. So, before taking that decisive step, ensure you have a concrete offer. Your professional future in Africa will be better for it.

14Jan

The Executive Leadership Skills in High Demand in Africa in 2024

Africa is undergoing significant economic transformation, offering a fertile ground for ambitious executive leaders. In 2024, the African professional landscape is rapidly evolving, demanding exceptional leaders equipped with specific skills to tackle the challenges of tomorrow. In this article, we will delve deep into the most sought-after skills for executive leaders in Africa in 2024. Whether you are a seasoned senior executive or an emerging leader, understanding these skills is essential for your success on this burgeoning continent.

Visionary Leadership

Executive leaders in Africa in 2024 must be capable of conceiving and communicating a long-term vision. Companies are seeking leaders who can inspire and guide their teams toward a prosperous future while navigating a complex business environment.

Agility and Adaptability

Agility is essential in an ever-evolving business environment. Executive leaders must adapt rapidly to changes and innovate to remain competitive in the dynamic African market.

Diverse Management Skills

Africa is a diverse continent, both culturally and economically. Executive leaders need diverse management skills to harness this cultural and economic richness, promoting an inclusive workforce and developing strategies tailored to different markets.

Artificial Intelligence and Technology

Executive leaders in Africa must be at the forefront of technology. Proficiency in artificial intelligence, blockchain, data analysis, and other advanced technologies is crucial for business growth in the region.

Ethical Leadership and Social Responsibility

African businesses are increasingly aware of their social and environmental impact. Executive leaders must be ethical, responsible leaders engaged in sustainable development initiatives.

Crisis Management Skills

Africa may face unforeseeable challenges such as health, political, or economic crises. Executive leaders must effectively manage crises, make tough decisions, and protect their businesses’ stability.

Excellent Communication Skills

Effective communication is essential for leading businesses in Africa, where cultural diversity is the norm. Executive leaders must communicate with clarity, understand the needs of various stakeholders, and negotiate successfully in multicultural contexts.

Being an executive leader in Africa in 2024 is an exciting yet demanding opportunity. The most sought-after skills are evolving to meet the needs of a rapidly expanding continent. To succeed, leaders must be visionary, agile, diverse, technologically savvy, ethical, and capable of handling crisis situations. Effective communication and an understanding of cultural diversity are essential skills. By cultivating these skills, executive leaders can be at the forefront of leadership in Africa, contributing to the sustainable development and prosperity of this dynamic continent.

14Jan

Creating a bright future for African youth: Promoting teleworking and investment opportunities for the Diaspora

Africa is a continent rich in culture, natural resources, and potential. Yet, many young Africans dream of a better life elsewhere, seeking the promised land in Europe or America. Illegal immigration has become a bitter reality for many African families, causing human tragedies at sea and unimaginable suffering. But how can we change this trend, and how can we provide convincing prospects for the African youth to encourage them to stay on their continent?

African youth face numerous challenges, including unemployment and limited access to quality education. However, there are reasons to hope, and possible solutions to reverse the trend of clandestine emigration.

Investing in education: Education is the cornerstone of sustainable development. By investing in quality education, African countries can train a skilled and competitive workforce. The skills and knowledge acquired in school are essential for fostering innovation, creativity, and economic growth. Vocational and technical training programs tailored to the labor market’s needs can also open doors for the youth by providing sought-after skills.

Promoting entrepreneurship: Entrepreneurship can be a promising path for young Africans. Encouraging the establishment of local businesses and supporting young entrepreneurs in their projects can not only stimulate the economy but also offer significant employment opportunities. Governments and international organizations can play a key role by providing access to funding, training, and mentoring.

Investing in infrastructure: Quality infrastructure is essential for economic development. Modern transportation networks, accessible healthcare services, reliable energy systems, and improved Internet connectivity are elements that can create opportunities for African youth. Investments in these areas generate jobs and enhance the lives of citizens.

Promoting economic diversification: Many African countries heavily depend on the export of raw materials, making them vulnerable to global market fluctuations. Economic diversification can mitigate this vulnerability. By encouraging local industries, the agricultural sector, tourism, and other sectors, African countries can create jobs and stimulate economic growth.

Taking inspiration from India: India has understood the importance of promoting remote work and has become a global leader in the Business Process Outsourcing (BPO) sector. By providing services to clients worldwide, India has created countless jobs, boosted its economy, and offered significant career opportunities to its youth. Africa can follow this example by fostering the growth of remote work in the BPO sector. This not only reduces the need for emigration but also provides stable and well-paid jobs. Through remote work, young Africans can target the global job market while staying at home.

The key role of the diaspora: The African diaspora, scattered worldwide, can play a major role in transforming Africa. Many members of the diaspora possess skills, knowledge, and financial resources that they can use for the development of their home continent. They can engage in intrapreneurship in Africa from their countries of residence, invest in local businesses, share their expertise, and facilitate connections between Africa and the rest of the world. For example, members of the diaspora working for international companies can promote the idea of outsourcing activities to Africa as a cost-effective and beneficial solution for their employers. By encouraging their companies to outsource to Africa, they contribute to the continent’s prosperity while maintaining ties to their roots.

Talent2Africa’s BPO Offering: In this context, Talent2Africa’s BPO offering makes perfect sense. It was created to assist all companies in outsourcing various digital tasks while considering their specific needs. We offer our clients flexible and tailored outsourcing solutions for both temporary and permanent needs. In a digital market where talents are scarce, and IT resource salaries are soaring, sustainable business growth requires a new operational model centered on the client and driven by the dual demands of competence and flexibility. Our BPO offering optimally combines talents, processes, and technologies to help our clients reshape their Tech organization through a more flexible, cost-effective operational model that generates sustainable growth.

Strengthening awareness of African identity: It is essential to enhance pride and awareness of African identity among younger generations. This can be achieved through education, the promotion of African culture, celebrating local achievements, and raising awareness of the continent’s challenges. A strong identity can help counter the idealization of the West and encourage young people to invest in their future on the continent.

African youth is a source of creativity, dynamism, and invaluable potential. By investing in education, entrepreneurship, infrastructure, economic diversification, remote work, encouraging the diaspora’s role, and leveraging Talent2Africa’s BPO offering, Africa can provide enticing prospects for its youth, urging them to stay on the continent and contribute to its development and prosperity. Africa has all it takes to become a hub of opportunities for its young talents, thereby preventing clandestine migrations and building a more promising future, while aiming for the global job market through the opportunities offered by remote work.

14Jan

Recruitment mistakes can be costly. How to minimize them ?

Talent hunting is a constant quest for any company aiming for excellence. In partnership with trusted talent hunters, organizations seek to create a shortlist of exceptional candidates. But how can one distinguish the best among this carefully selected pool?

The choice of a talent hunter is the first link in this chain. A trusted talent hunter is one who not only understands the company profile but also grasps the culture, mission, and values that drive the organization. They don’t just seek skills; they search for personalities that will seamlessly integrate into the company’s ecosystem.

The Shortlist, Crème de la Crème:

The shortlist is the result of the talent hunter’s expertise. It is a narrowed selection of candidates who meet the most demanding criteria. These individuals are raw diamonds waiting to be polished to shine within your company.

However, the shortlist can sometimes seem perplexing. All candidates are presented with a set of impressive skills, experiences, and references. How do you distinguish the best among the best?

Revealing Signs of Rare Gems:

Passion and Motivation: The best talents are those who are passionate about what they do. They view their work not as a mere task but as an opportunity to contribute to something greater. They are driven by intrinsic motivation and are willing to go above and beyond the call of duty.

Adaptability: In a constantly evolving world, the best candidates are those who can quickly adapt to changes. They are flexible, open to change, and have an insatiable thirst for learning.
Team Spirit: Excellence is not achieved in isolation. The best talents are exceptional collaborators. They can work harmoniously with their peers, share ideas, and contribute to a positive corporate culture.
Creativity: Innovation is the engine of growth. The best talents are often those who bring a fresh and creative perspective to their roles. They don’t just follow established norms; they seek to surpass them.
Integrity: Good character is invaluable. The best talents are those who act with integrity, honesty, and ethics. They are trustworthy and serve as role models for professional behavior.

The Interview, the Moment of Truth:

The interview is where you can truly distinguish the best talents from the shortlist. Ask questions that highlight their passion, adaptability, team spirit, creativity, and integrity. Listen carefully to their responses and look for concrete examples of past situations where they demonstrated these qualities.

Reference Check, the Final Step:

Don’t forget to check their references. Former employers, colleagues, and supervisors can provide valuable insights into how these candidates behaved in real work environments. Look for additional evidence of their outstanding skills and character.

Identifying the best talents in a shortlist is both an art and a science. It requires a deep understanding of what you’re looking for, as well as the ability to spot revealing signs of excellence. By collaborating with a trusted talent hunter, conducting thorough interviews, and checking references, you can be confident in choosing the most precious diamonds to enrich your company. The best talents are the cornerstone of success, so choose them carefully to build a prosperous future.

14Jan

Alarm Call of HR Managers and CEOs in the Face of Increasing Talent Loss. What are the Solutions?

In the dynamic business landscape of Africa, talent management stands out as a crucial challenge. Human Resources Directors (HR) and CEOs invest time and energy in developing local talents but often find themselves defenseless against the departure of these skills to other horizons. This phenomenon, sometimes referred to as the “talent drain,” requires thorough reflection and solutions tailored to the African context.

Trained Treasures, Lost Treasures

Investments in training are not enough

African companies significantly invest in the training and development of their internal talents. However, many witness, perplexed, the migration of these skills to other, often more established, markets. It is time to rethink our strategies to prevent our investments from evaporating.

Root Causes of the Exodus

The search for new challenges, dissatisfaction with corporate culture, or even uncompetitive compensation can explain the talent drain. However, the key often lies in the implementation of robust retention strategies.

Facing the Puzzle: Some Adapted Solutions

Strengthen Cohesion through an Engaging Corporate Culture

African companies face a cultural transformation imperative to foster a more inclusive and inspiring work environment. Similar to the Japanese management model, which emphasizes proximity between leaders and employees, African leaders must adopt a more accessible and open approach.

Creating a corporate culture rooted in African values goes beyond inspirational speeches; it requires a profound revision of management practices. Leaders must be visible and accessible, establishing a direct connection with employees at all levels of the organization. This accessibility reinforces the sense of belonging and encourages transparent communication.

Similar to the Japanese model, where leaders are often present in the field, African leaders should engage more with their teams. Idea-sharing sessions, informal meetings, and open communication contribute to breaking hierarchical barriers, creating an environment where each employee feels heard and valued.

The openness of African leaders should also manifest in decision-making. Involving employees in the decision-making process, gathering their opinions, and integrating their ideas promote a sense of engagement and collective responsibility. This collaborative leadership model, inspired by Japan, helps build a common vision where each individual feels invested in the overall success of the company.

By embracing this approach, African companies can not only create a corporate culture rich in shared values but also strengthen employee loyalty and engagement. This open and accessible management model contributes to forging a solid organizational identity, conducive to talent retention and sustainable growth. Ultimately, fostering proximity and openness is how African leaders can truly guide their teams towards common success.

Offering Local and Regional Evolution Perspectives

African talents, especially Generation Z, seek challenging opportunities and mobility across the continent. Companies need to adapt their career development programs to meet these aspirations.

Transparent Evolution Paths: Career plans should be clear, showing progression steps within the company.

Intra-African Mobility: Encouraging mobility between African countries provides exploration opportunities and enriches skills.

Mentorship and Coaching: Integrating mentor relationships helps talents overcome challenges and promotes personal and professional growth.

Valuing Local Contribution: Highlighting the local impact of work reinforces a sense of belonging.

By adapting these programs, companies can attract and retain exceptional talents, creating a flourishing professional environment for Generation Z in Africa.

Reassessing Compensation Policies in an African Context

In a complex African economic context, talent retention requires a creative approach to compensation. Companies must remain competitive while considering economic realities.

Prudent Salary Competitiveness: Maintaining salary competitiveness by intelligently adjusting to the cost of living.

Creativity in Compensation: Exploring innovative compensation methods such as performance-related bonuses, non-monetary benefits, and professional development opportunities.

Equitable Remuneration: Establishing fair salary structures, considering individual contributions.
Adapted Benefits: Offering social benefits aligned with economic reality, such as health insurance or financial well-being programs.
Transparent Communication: Clearly communicating the compensation policy, explaining its consideration of economic conditions.
Financial Flexibility: Providing flexible options, such as remote work, to help employees manage their budgets.

By balancing financial competitiveness and understanding economic realities, companies contribute to talent retention and the creation of a resilient professional environment. By investing in employee financial well-being, they strengthen the employee-company bond and promote long-term stability.

Continuing to Invest in Ongoing Training with Local Content

Maintaining talent competitiveness in Africa requires a proactive strategy centered on ongoing training, rooted in relevant local content. Companies must recognize that the professional growth of employees must align with the specificities of the African market.

Assessment of Needs: Companies must conduct regular assessments to understand developments in the African market and the required skills. This ensures that ongoing training remains in line with changing sector requirements.

Local Partnerships: Collaborating with educational institutions and local experts allows the integration of specific African perspectives into training programs. These partnerships also promote knowledge exchange and the development of a local network.

Strengthening Local Skills: Ongoing training should focus on strengthening local skills, promoting the growth of talents from local communities.

Innovation and Adaptability: Encouraging innovation and adaptability in training programs allows employees to develop skills aligned with emerging opportunities in the African market.

Reducing Unemployment: Effective training programs contribute to reducing unemployment by improving the relevance of workers’ skills in the local and international markets, especially with the opportunities offered by remote work.

By investing in ongoing training with local content, companies contribute not only to the individual growth of their employees but also to the overall economic development of Africa. This approach ensures that local talents remain relevant, competitive, and ready to face the specific challenges of the continent. Ultimately, by investing in education and the development of local skills, companies shape a prosperous future for Africa.

Conclusion: Let’s Value Our Human Wealth

The talent exodus can be transformed into an opportunity for local growth. African companies must take a proactive approach, rethink their talent management strategies, and invest in solutions that consider the continent’s specificities. By creating an environment where talents feel at home, offering concrete career development perspectives, and recognizing the value of each employee, African companies can not only retain their human treasures but also nurture sustainable growth. It is time to move from concern to action, transforming our human wealth into an invaluable asset for Africa.

14Jan

African managers: optimize year-end performance reviews with systems adapted to Africa!

Dear African Leaders and Entrepreneurs of all Sizes,

As the year draws to a close, it’s the perfect time to reflect, celebrate achievements, and set the course for a promising future. In the African entrepreneurial landscape, optimizing performance through relevant evaluation systems is a key to success. Regardless of the size of your enterprise, this initiative can pave the way for sustainable growth and shared prosperity.

1. Annual review: a valued Tradition

At the heart of every African enterprise, the annual review offers a precious opportunity for introspection. It’s the moment when we honor successes, identify lessons learned, and build bridges toward the future.

2. Evaluation systems tailored to african Diversity: an unavoidable imperative

2.1 Cultural Inclusivity: In the rich tapestry of African culture, the establishment of inclusive evaluation systems is crucial. Let’s value and celebrate the cultural diversity that characterizes our teams, integrating mechanisms that recognize different contributions.

2.2 Market Contextualization: Understanding local markets is a key to success. Evaluation systems must adjust to the specific realities of each sector, reflecting our commitment to growth rooted in our lands.

3. Constructive feedback: building Excellence together

3.1 Open dialogue: Encourage open dialogue between leaders and employees. Constructive feedback builds trust and fosters a culture of continuous improvement, a crucial element for all businesses, large or small.

3.2 Deserved recognition: The year-end is an opportunity to recognize and celebrate exceptional efforts. Whether in large corporations or startups, well-deserved recognition is a powerful motivator.

4. Strategic planning for a flourishing Future

4.1 Local and attainable objectives: define clear objectives, in harmony with local realities. Whether a large corporation or a startup, establish a realistic trajectory for the coming year.

4.2 Localized professional development: Encourage professional development by aligning skills with the needs of the African market. It’s a strategic approach for all businesses seeking to thrive in our dynamic environment.

5. Integration of Technological Solutions: innovation accessible to all

5.1 Accessible digital platforms: Technology can be a powerful lever for all businesses. Simplify the evaluation process with digital platforms, making these tools accessible even to smaller-sized enterprises.

5.2 Connectivity for all: Ensure that every member of your team, regardless of the size of your business, has easy access to evaluation tools. Connectivity facilitates engagement and active participation.

Conclusion: A call to shared Excellence

At the end of this year, let every African business, regardless of size, be a beacon of excellence. Relevant and context-adapted evaluation systems are the key to a flourishing future. Together, let’s create businesses that thrive, innovate, and contribute to the dynamic evolution of our continent.

Here’s to shared prosperity and a radiant future!

03May

African fintech takes the continent by storm

In Africa, deals recorded by fintech players are rising dramatically. By 2021, 63% of funding to the technology sector went to fintech.The growth of fintech is helping to improve financial inclusion.

When Nigeria went into lockdown in 2020 to stop the spread of the coronavirus, Michael Terver was able to keep his small internet café afloat, but also to help his friends and customers facing new challenges brought on by the pandemic. He did this through a partnership with an electronic banking company.

Before the COVID-19 pandemic, most of the cybercafé’s customers, who did not have bank accounts, preferred to make purchases or sales with cash. But as social distance made it impossible to conduct most transactions “in person,” they were able to go digital with the help of an integrated online system, allowing them to pay bills, make deposits or transfers, or apply for microcredit from the café.

Dubbed Quickteller Paypoint, the system had been launched in 2016 by Interswitch, a Nigerian fintech company, to help individuals as well as micro and small businesses adopt paperless transactions.

“Accessing Quickteller Paypoint from my facility was a game changer,” says Michael Terver. Because of the lockdown, businesses couldn’t operate as usual, which affected cash payments. Our Quickteller Paypoint automatically replaced cash transactions, because staying safe was what mattered most.”

Michael Terver’s story is indicative of a larger phenomenon. A combination of finance and technology, fintech is rapidly transforming the way individuals and businesses conduct transactions, particularly in Africa. North Africa and the Middle East have recently seen the fastest growth in transaction volume recorded by fintech players in the world, with a 40 percent increase in 2020, while sub-Saharan Africa, with a 21 percent increase over the same period, was on par with North America.

Over the past decade, fintech has enabled 1.2 billion unbanked people to access financial services, a 35% reduction in the unbanked population worldwide. With this increase in financial inclusion, more individuals and small entrepreneurs are saving, receiving government payments, conducting business, and securing their wages.

“Investment in fintech is growing much faster in emerging markets than in developed markets because it fills a vital gap. We expect this growth to continue,” says Aliou Maiga, Africa regional director for IFC’s Financial Institutions division. For the first time, microenterprises and individuals with very limited financial assets can secure their savings, make transfers without exorbitant fees, and even take out small loans to increase their income. This is a real turning point in our efforts to promote financial inclusion and eradicate extreme poverty.”

Plenty of room for growth

The African fintech market has plenty of room for growth. Indeed, only about 20 percent of adults in sub-Saharan Africa own a debit or credit card, compared to over 80 percent in developed economies. Cash is still prevalent in many underserved rural and urban areas, creating additional costs, difficulties in buying and selling goods, and increased exposure to theft and fraud.

Traditional banks have been reluctant to offer services to individuals with small incomes and few savings. Yet these millions of unbanked people represent a significant economic force that the digital finance sector can leverage.

The multitude of small businesses on the continent can also benefit from fintech. According to World Bank estimates, SMEs account for 90 percent of the total number of businesses, have one billion customers, and create seven out of ten jobs.

In addition, the continent is characterized by a large sector of informal and micro businesses, which have been particularly affected by the pandemic. During the crisis, fintech helped microenterprises and SMEs to keep their heads above water by offering them the possibility to conduct small transactions online and by providing microcredit and electronic payment platforms.

In South Africa, for example, Adumo, an IFC-supported company, is enabling small businesses to grow by moving to digital payments.

The sector’s growth continued in 2021: a report shows that venture capital funding for the tech sector in Africa tripled to more than $5 billion, beating all other regions of the world. The majority of this funding-63 percent, or $3.3 billion- went to fintech.

IFC has been a leading investor in the African fintech market. Its investments include Interswitch; Fawry, an Egyptian online payment platform; Wave, a mobile money service provider in West Africa; South African companies Adumo and Lulalend; and TerraPay, a pan-African fintech infrastructure player.

A momentum propelled by the pandemic

While fintech has been around since the early 1990s, the COVID-19 pandemic spurred the development of its services to unbanked and vulnerable populations, especially at a time when confinements limited cash transactions. According to a survey conducted by the World Bank and other partners, two-thirds of fintech companies surveyed worldwide report changing their business models during the crisis by lowering fees, revising lending criteria, and relaxing payment terms.

For example, TerraPay expanded its operations to North America to allow Africans working abroad to transfer money within 24 hours at an affordable cost. Also during the pandemic, fintech giant Tutuka, which has since merged with Paymentology, expanded its virtual card offering to meet demand from businesses and governments for solutions that allow them to pay employees working remotely and to disburse government grants or insurance benefits.

IFC supports these and other fintech services through direct and indirect investment in funds such as Helios, Partech and Apis Partners. Interswitch, for example, is receiving funding from Helios and LeapFrog.

In the coming years, fintech will become an even more integral part of African economies as businesses and customers alike recognize the long-term benefits of digital transactions.

According to a McKinsey report released in August, fintech is indeed enabling more affordable services for customers. “Transaction fees can be up to 80 percent lower, and interest on savings accounts up to three times higher than traditional players. Money transfers can be up to six times cheaper,” the report said.

Lulalend, which allows small businesses to apply for financing online, believes that fintech will play a key role in the continent’s future growth.

“Fintech is transforming Africa, because it allows companies to manage their cash flow better than ever before. It gives every business the opportunity to succeed,” says CEO Trevor Gosling. And a successful business grows the economy and creates jobs.”

Source: https://www.ifc.org/wps/wcm/connect/news_ext_content/ifc_external_corporate_site/news+and+events/news/african-fintech-rises-to-the-challenge-en

24Mar

Investor Interest in ESG Remains. What’s Expected of Your Company?

As the crisis continues to unfold, ESG topics will continue to grow in importance. Companies will be judged by their ability to withstand financial shocks, but also by how they’ve treated their employees, clients and communities.

Over the past decade, interest in how companies manage environmental, social and governance (ESG) issues has grown considerably. Investors, consumers and employees increasingly expect companies to account for issues such as worker safety, climate change and financial transparency. As the world finds itself in the midst of a pandemic, these stakeholders are now adding a company’s response to COVID-19 to the list.

Specifically, what are they looking for in a company’s response to COVID-19?

Ratings agencies and other organizations are starting to issue guidance. S&P Global provided insight on how it might adjust its ESG evaluation. Sustainalytics has produced research that examines the impact of COVID-19 on ESG. The UN Principles for Responsible Investment has published resources for investors to engage companies around their COVID-19 response.

Based on this information so far, stakeholders will be looking for insight on the following:

Governance of COVID-19 response: How is the company managing its overall response to the pandemic? Is there a specific management team? Does the board have oversight?
Workforce: What is the company doing to keep employees, suppliers, contractors and other key stakeholders safe? How is the company maintaining productivity during this time? Has the company been forced to adjust its headcount; and if so, how is it supporting those affected?
Community support: What is the company doing to help address challenges brought about directly or indirectly by the virus? Support could include monetary giving, as well as in-kind donations of product and supplies. Is a company’s philanthropic response aimed not only at the health crisis broadly, but also at supporting communities where the company operates and where employees live?
Supply chain continuity: How is the company identifying and managing potential disruptions in the supply chain due to the virus?
Customer loyalty and satisfaction: What is the company doing to engage customers during this time — through product innovation, outreach and other efforts?
Stakeholder engagement: How is the company listening to all stakeholder groups during this time? What is the company doing to respond to concerns?

The impacts of this crisis are both immediate and long term. Companies must be proactive, diligent and dedicated to a business strategy that protects and enhances recovery — and ultimately, their reputation. Three steps your company can take today include:

Audit: Assess where your company stands on key COVID-19-related ESG topics such as workforce, community support and supply chain continuity.
Act: Take action where necessary to build initiatives and programs to mitigate any identified risks and act on opportunities.
Communicate: Tell your company’s story — be specific about what you’re doing under the topics listed above, and other stakeholder concerns.

As the crisis continues to unfold, ESG topics, such as the safety of employees and community engagement, will continue to grow in importance. Companies will be judged by their ability to withstand financial shocks, but also by how they’ve treated their employees, clients and communities.

Source : https://sustainablebrands.com/read/finance-investment/the-world-has-changed-but-investor-interest-in-esg-remains-what-s-expected-of-your-company

27Feb

Jobs in the pharmaceutical industry that are recruiting

Driven by digital transformation and new technologies, the pharmaceutical industry is in a constant state of renewal. Pharmaceutical markets are transforming and are looking for talent with technical expertise, a good knowledge of the environment and a highly developed emotional intelligence. From health marketing managers to pharmaceutical representatives, from hospital buyers to clinical research associates, the health industry is a promising sector for those wishing to make a career in it. Here is a look at four key markets.

Research and development

Impacted by new innovative working methods, research and development (R&D) in the pharmaceutical industry is developing new methods of multidisciplinary and cross-disciplinary collaboration.

From start-ups to research laboratories, universities and specialized centers, in France and abroad, R&D jobs require solid scientific expertise and a great appetite for working in collaborative mode. Dual skills are particularly sought after, whether in software engineering, robotics, IT or nanotechnology.

In a globalized and competitive environment, it is essential to be able to work in a team and to master English (especially scientific English), the international language par excellence.

Research and development jobs in the pharmaceutical industry :

Laboratory officer
R&D manager
Scientific communication manager
Test technician
Bioinformatician

Production

From raw material management to quality control, logistics and manufacturing optimization, production jobs cover a wide variety of positions.

The development of connected factories, IoT and robotization is profoundly transforming industrial processes for the production of drugs and pharmaceutical products. Production management in an environment with very strong quality, hygiene and safety constraints requires qualified profiles who master the manufacturing and control processes, while having a global vision of the entire life cycle of the product production chain.

Production jobs in the pharmaceutical industry :

Production manager
Industrial buyer
Supply chain manager
Packaging manager
Maintenance manager

Regulations

In an environment as specific as that of pharmaceutical products, regulations have a concrete impact on the daily work of healthcare professionals.

Registration of a health product, control of marketing and advertising operations, implementation of clinical trials, coordination of marketing authorization (MA)… these are the legislative safeguards that govern the regulatory and pharmacovigilance professions.

Working directly with the regulatory authorities, these professionals are experts in ethics and professional conduct who identify risks, supervise projects, and support and train teams at every stage of the development of a new product. Both legal and scientific skills are essential to manage rigorous work processes with methods.

Regulatory affairs in the pharmaceutical industry :

Regulatory affairs officer
Legislative monitoring manager
Pharmacovigilance officer
MA coordinator

Commerce, sales and distribution

As an essential link between research and prescribers, the professions involved in the promotion and marketing of pharmaceutical products include health marketing professionals, medical information specialists and health economics experts.

Working in this sector implies a perfect knowledge of the workings of the healthcare world, and in particular the regulatory authorities, healthcare structures (hospitals, retirement homes, patient associations, regional health agencies, etc.), as well as a great deal of knowledge of the territorial network. This work combines scientific knowledge with promotional and informational activities to make new drug products better known to the healthcare professionals who will be in direct contact with patients.

The professions of commerce, sales and distribution in the pharmaceutical industry :

Sales engineer
Market research manager
Medical sales representative
Regional coordinator
Marketing, information and sales manager for health products
If good scientific skills are essential to work in the health sector and in all pharmaceutical markets, one must not neglect great interpersonal skills, a mastery of English and enjoy teamwork in a transversal and multidisciplinary manner. These qualities open the door to many sectors and professions within the private or public structures of the pharmaceutical industry.

Source : https://executive.devinci.fr/lindustrie-pharmaceutique-recrute/

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