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Women in Africa’s energy sector need to be intentional about their growth – Lucciano-Gabriel

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Lagos, Nigeria: July 01, 2019 – Self-driven and passionate about women and youth empowerment, Mariah Lucciano-Gabriel, Head, Commercial & Business Development, Asharami Energy (A Sahara Group Upstream Company) represents the growing wave of vibrant African professionals committed to transforming the continent. Mariah joined the prestigious Graduate Management Training Programme of the leading energy conglomerate, Sahara Group in June 2008 after which she was assigned to Asharami Energy, the Upstream division of Sahara.

The programme has produced several leading young energy sector professionals across Sahara’s locations in in Africa, Europe, Asia and the Middle East. With over 10 years of experience in the industry, Mariah coordinates negotiations for the company’s Asset Acquisitions, Crude Handling Agreements, Sales Purchase Agreements, Unitization discussions, and Production Entitlement Reconciliations. She has an M.Sc in Energy Studies with specialization in Energy Economics from Dundee University, and a BSc in Economics, Finance & Management from Queen Mary, University of London.

Mariah was one of the panelists who addressed the theme: “Encouraging STEM Subjects to Balancing the Boardroom: Gender Diversity & Equality in the African Energy Industry” at the recently concluded Oil and Gas Council’s Africa Assembly in Paris.

In this interview, she shares details of her growth in the industry, her passion for mentoring younger women and highlights the need for gender parity at all levels in the energy sector.

What has your experience been as a senior manager at Sahara Group’s Upstream division?

I joined Sahara’s training program at the age of 22 with no prior knowledge or desire to work in the energy industry nor a STEM degree (my first degree was in Economics, Finance and Management) and after six months of hands on training within all the Sahara companies which cuts across downstream, midstream, upstream and operations, I was deployed to the upstream arm and asked to coordinate the next internship program simultaneously. These are the sort of opportunities and challenges you face working in a fast paced innovative company like Sahara.

After a year of juggling both roles, I focused solely on the Upstream covering Government & Partner Relations, Business Development and Commercial Operations and 10 years down the line I now head the Commercial & Business Development Unit of the Upstream arm.

The upstream sector of the Nigerian energy industry is a highly regulated and competitive one being that it accounts for over 90% of Nigeria’s GDP and as such this brings its own set of challenges to my role. However, I am able to work through problems and achieve solutions because the work environment at Sahara fosters innovation and employees are made to own the vision and given the freedom to be creative around solving problems.

I have been able thrive in the company because your contributions and successes are valued, recognized and rewarded regardless of gender, age or position.As I say to my colleagues; I don’t work like a man or a woman, I work like someone who needs to get the job done and that is all Sahara sees and that is what is rewarded.

In Sahara, you do not get passed up on a promotion simply because you are female and they fear your family obligations as a woman may conflict with your work obligations. In stark contrast, the company supports you in achieving those obligations so that you are able to better perform at your job and that performance never goes without reward!

Mariah Lucciano-Gabriel, Head, Commercial & Business Development, Asharami Energy

What do we need to do in Africa to encourage the emergence of more women in the sector?

On a foundational level, the government and private sector need to encourage young girls to pursue Science Technology Engineering and Mathematics (STEM) degrees through workshops and organized school programs. To start with, many girls don’t even know the career options available to them in Energy industry, it is important to start at the school level to promote the various career paths available both through STEM and Non-STEM pathways because the Energy industry is bigger than just engineering.

Furthermore, younger girls need to see more female role models at the top so they know what can be achieved and be inspired to do more. It is hard to want what you cannot visualize so leading women have a duty to promote themselves more and share their stories with other women.

More critical than just getting women in through the door is retaining and promoting them, a study showed that at entry level there was 35% women participation in the industry but as it got to executive level the percentage dropped to 8%! So women are coming in but the companies are not retaining or promoting them into leading roles. As women, we need to know that there would be sacrifices to be made and the road to the top may not be easy when combined with our roles as nature’s chosen primary caregiver but it is not impossible, we need to use all the support we can get from family and friends and we should be willing to be flexible and think creatively around juggling our roles.If companies are really serious about getting more women in leading positions then they must adopt female friendly work policies such as nursing rooms, allowance for childcare, flexi work practices etc to support women and help them achieve their career goals without jeopardizing personal goals.

What would be your greatest achievement in the sector?

The interesting thing about being an intrapreneur in a company like Sahara is that the company’s successes are my successes and vice versa. Sahara was one of the first indigenous E&P companies to enter into the Nigerian upstream sector as far back as 2004 as an Operator (not just an ‘asset broker’ peddling off assets to IOCs with the technical and financial capabilities) and has grown its assets organically form exploration thorough appraisal, development and production.

I am proud to have been an integral part of its success today by way of Bid participation, government stakeholder engagements and commercial negotiations. I look forward to playing my role in making the company the pre-eminent indigenous producer in Sub-Saharan Africa by 2025 with production in excess of 100,000 barrels of oil production per day.

Having made my mark professionally in the sector, it would be my greatest achievement to reach young girls through sharing my experience and to drive the movement for gender parity at boardroom level in energy industry on a national level.

How do you intend to help younger women find their feet in the industry?

I started making a conscious effort to offer advice to younger girls within my immediate sphere of influence who want to pursue a career in the energy industry.I mentor some younger ladies in the sector. I will continue to strive for excellence in my career and share my stories, challenges and successes on a wide platform so that younger girls can have not just a role model to emulate in the energy sector but also a blueprint and relatable pathway to help them navigate their careers. It is important for women to know that it can be done despite gender specific challenges.

Where do you get the inspiration to keep up with the rigors of work in your sector?

The rewards and recognition for my contributions to company’s success certainly makes the countless late nights, early mornings and constant flying worth it but more than anything; I like to WIN! And winning does not come without sacrifice so that keeps me moving.

Why do think achieving Balance in the Boardroom is so important?

It is important not just because we should all have the same rights and opportunities regardless of gender. But also because a boardroom of 10 men of a similar age and similar background are likely to think in the same way and have the same ideas whereas a diverse group of gender, ages and backgrounds would produce innovative ideas that change the status quo and achieve the unthinkable. Furthermore, energy use is not gender neutral, women are more greatly affected by energy availability and policies than men yet you have 89% of men at helm of decision making in energy.

The struggle for gender parity cannot truly be achieved without a balanced boardroom because in some cases, even though the men have the intention of achieving a more gender balanced workforce, they would not know those policies that would help women. I recently spoke around some of these issues on a panel and gave an example of the introduction of a nursing room in Sahara, afterwards the CEO of a Nigerian Oil servicing company came up to me and said he was going introduce the same in his company because he didn’t realise something so small could have a great impact for women. It wasn’t because he was unwilling to support his female staff, he just didn’t know how he could because there was no female perspective at the decision making level.

What are some of the perceptions or biases in the Africa Energy Industry that hinder women’s entrance and/or growth and how do we overcome them?

There’s a dominating perception that the energy industry is for engineers and thus for men mostly, we need to also promote the non-technical but equally important career paths in the energy industry such as Legal, Commercial, Government Relations, Supply Chain, Business Development etc. Furthermore, many companies have a biased pay structure that favour the men and penalise the women for taking time off for personal/family issues and as such many women exit the industry mid-career because they feel undervalued.

The perception that the energy industry is reserved for men can be pulled down further if successful industry women put themselves out there a bit more so that younger girls have more role models.

Also Read Interview With The Founder And Textile Designer At The Adirelounge, Cynthia Asije

We also need to realise that when we as women get to the top we don’t need to strip away our femininity or bury those female specific hurdles we had to jump and blend in with the men by replicating the habits of our successful male executives, the world needs our fresh feminine perceptive. We can’t keep sending the message that ‘we need to be men to succeed in this industry’ it discourages younger girls from pursuing this career line.

The perception that to be a successful woman in a male dominated field you must be unmarried or be a bad mother kills many women’s ambition and this perception could not be farther from the truth! According to William Domhoff; author of Women, African American Leaders of Fortune 500 companies, of the 28 women who have served as CEOs of fortune 500 companies, 26 of them were married for over 10 years minimum.

Mentorship and sponsorship in the workplace are important in reaching the top of one’s career however women are disadvantaged because unconsciously, people are drawn to mentor those that remind them of their younger selves so unconsciously men are drawn to mentor/sponsor younger men and the boardroom in the first place is full of men so no one looking out for the women. Men need intentionally overcome this unconscious bias and take up sponsorship roles for younger promising female talent in the industry and not just provide them guidance but also recommend them for opportunities when possible.

What is your advice to women in more junior positions?

Be intentional about your growth, be visible in the workplace, seek assignments and seize opportunities, join and be active in networks. The road to the top will not be easy or straightforward, stay determined, be flexible and creative in achieving balance between the home and workplace. It is not enough to be good at your job and sit quietly in the corner waiting to be noticed and whisked to the C-Suite, you need to break walls, smash windows and take a seat at the table because you deserve to be there, you are doing the world a huge favour by being there and remember that you really can have it all but just not at the same time so know when to pursue what.

Credit: Sahara Group/Adekunle Aliyu, Vanguard

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The Legatum Center for Development & Entrepreneurship at the MIT launches Foundry Fellowship for entrepreneurs in Africa

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The Legatum Center for Development & Entrepreneurship at MIT has launched the Foundry Fellowship, a first-of-its-kind leadership program for accomplished entrepreneurs who are considering their role in shaping the future of the African innovation ecosystems in which they work and live. At an inflection point in their entrepreneurial journeys, Fellows will learn from MIT faculty, connect with investors, and expand their network of peer innovators. The Fellowship is open to entrepreneurs working and living in Uganda, Ethiopia, Ghana, Nigeria, Kenya, Rwanda, and Senegal.

Building on the MIT ethos of Mens et Manus (Mind and Hand), the Foundry is a place where entrepreneurs come together to reflect on their achievements and shape their futures as leaders in business, investing, and governance. The program includes an interactive online curriculum followed by a three-week immersive session that brings the cohort together to explore innovation-driven ecosystems.

The Foundry Fellowship presents a unique opportunity to bring MIT resources and knowledge to these critical innovation ecosystems and, importantly, also offers MIT an opportunity to learn from successful leaders and their innovative solutions.

Professor Fiona Murray, Faculty Director of the Legatum Center, described this opportunity to expand MIT’s innovation network “[as] a moment for the Fellows to reflect on [their entrepreneurial] journey that also allows us to learn from them. They can use this experience as a stepping-off point as they move to the next stage of ecosystem-wide leadership.”

“As a school dedicated to the development of principled, innovative leaders who improve the world, MIT Sloan looks forward to welcoming the Legatum Foundry Fellows to Cambridge and to the MIT community,” said David Schmittlein, John C Head III Dean of the MIT Sloan School of Management.

A Collaboration between the Legatum Center and The Mastercard Foundation 

Through this collaboration with the Mastercard Foundation, the Foundry Fellowship will deepen the impact of leaders who are solving complex problems, creating jobs, and bringing essential services to millions through innovation-driven business models.

With the world’s fastest growing youth population, Africa is home to 4 of the world’s top 5 fastest-growing economies, has the fastest urbanization rate in the world, and has a rapidly expanding middle class predicted to increase business and consumer spending. Innovation and entrepreneurial solutions are a critical component to continued growth and prosperous people and societies across the continent. Africa’s entrepreneurs are building businesses that offer lessons in inclusion, sustainability, and value creation that extend far beyond the continent. As a global network of entrepreneurs, investors, and thought leaders, the Legatum Center’s Foundry offers a platform for leaders to share their stories and consider new ways to extend their impact in their local ecosystems and around the world.

Dina Sherif, Executive Director of the Legatum Center says, “To propel Africa forward and remain competitive globally, we need innovation-led entrepreneurship and robust African entrepreneurial ecosystems. The Foundry Fellowship supports African entrepreneurs to transition to entrepreneurial leaders who work with various stakeholders to strengthen and improve their ecosystems.”

The Foundry Fellowship is a competitive program for outstanding entrepreneurial leaders working in Ethiopia, Ghana, Kenya, Nigeria, Rwanda, Senegal, and Uganda. The Legatum Center will accept nominations from May 3 – May 20, 2021. A nomination is not required to apply; entrepreneurs are invited to submit an application directly. All nominees and applicants must submit a completed application by 11:59 PM EDT on June 10, 2021 to be considered for the program.

Nomination and application information is available at The Legatum Center for Development & Entrepreneurship

An initial cohort of 15 Fellows will be selected for this fully-funded program.

 

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AI Expo Africa, Wesgro, and Zindi launch the Deepfake Africa Challenge

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AI Expo Africa, in partnership with Wesgro Film and Media Promotion and African Data Science competition platform Zindi, has launched the Deepfake Africa Challenge in a bid to raise awareness about deepfake media, tools and ethics on the African continent.

Deepfakes have been prominent in the news in the last two years as the tools and platforms that allow for such content to be produced are widely available and easy to use by both skilled and casual users.

While some deepfakes can be used to create fun, viral videos or new synthetic applications such as digital avatars that have multiple applications, they also can be used to manipulate or generate visual and audio content with the potential to deceive with subsequent negative impacts for people, organisations and wider society.

Dr Nick Bradshaw, founder & CEO of AI Media the company behind AI Expo Africa, stated, “The objective of the challenge is to create convincing deepfakes to highlight the power of this synthetic media, illustrating its creative potential for exploitation for both positive and negative outcomes and focusing debate about its ethical use or mis-use in an African context. We partnered with Zindi as they have the largest community of Data Scientists in Africa, and Wesgro Film Unit to tap into the award-winning creative industry based in the Western Cape, South Africa. This challenge is open to both creative and technical talent across Africa. We look forward to seeing the outcomes from the submission.”

Wesgro Film and Media Promotion head Monica Rorvik commented, “Deepfake media can have negative outcomes. This challenge serves as an opportunity and platform that we can leverage during this interesting time of the “Pandemic of deep fakes” – and by working together, and checking facts, we can learn together and gain some herd immunity.”

Zindi co-founder and CEO Celina Lee stated “Deepfakes are fast becoming a challenge of our time. Through the Zindi platform we are seeking to tap into the collective insights and creativity from twenty-six thousand African data scientists to shine a light on this topic and create debate about the potential harms these media and tools can do from a uniquely African perspective.”

Submission and evaluation

Submissions are welcome from across the African continent and from relevant communities including researchers, developers, content creatives and film makers. The winning submissions of the Deepfake Africa Challenge will be showcased at AI Expo Africa 2021 ONLINE between 7 to 9 September.

Submissions for the Deepfake Africa Challenge can be either video or audio based. Each submission should be no longer than 90 seconds in length (MP4 or MP3 preferred final format). The content submitted must not be offensive or harmful in anyway and any submissions deemed to contravene this rule by the judges will be immediately rejected.Winners must be citizens of an African country and must be residing in Africa.All entries will be judged as follows:
  1. Artistic creativity and relevance to the challenge topic
  2. Level of innovation used in the process to generate the content
  3. A short explanation of platforms, tools and techniques used to generate your submission will greatly enhance your submission and are encouraged so we can build a picture of the most common tools and techniques used

The judging panel will be made up of representatives from Zindi, The AI Media Group and Wesgro. The judge’s decision will be final.

Prizes

1st Place Winner: Complimentary ticket to join AI Expo Africa 2021 ONLINE (including 1x return economy flight & 4x nights hotel stay B&B courtesy of Radisson Blue to join us at AI Expo Africa 2022). The 1st Place Winner’s flight is eligible to delegates joining from outside the host city capped to $1000 using economy class fare. Expenses and visas are not included.

2nd and 3rd prize winners to receive 1x complimentary ticket to AI Expo Africa 2021 ONLINE.

Top 3 placed winners will have work showcased at AI Expo Africa 2021 along with write up and press mentions.

Timeline

The competition closes on 30th July 2021. Final submissions must be received no later than 11:59 PM GMT 30th July 2021. Winners will be notified and announced by 17 August 2021 with the winning submissions being showcased at AI Expo Africa 2021 ONLINE between 7-9 September.

The challenge organisers reserve the right to update the content timeline if necessary.

 

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Possibilities of Making Profits On Crypto, Risk-Free

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Over the course of the last decade, cryptocurrencies have experienced unprecedented growth and garnered a lot of interest across a range of demographics from all over the world. Interest in digital currencies is spiking globally and search terms such as “how to buy Bitcoin” have seen an uptick in interest according to Google trends. This is just one of many indicators that suggests a notable influx of people are entering the blockchain space and looking to explore the crypto ecosystem.

While the market cap of digital assets has varied extremely with price fluctuations, it, however, grew from about US$10 billion in 2013 to about $237 billion in 2019. Also, in the last 5 years, the increase in Bitcoin (BTC) private accounts and trades has averaged about sixty percent every year. Currently, the market cap for digital currencies is just above $2 trillion.

Even though many people have made early gains in digital assets, the cryptocurrency space is still in the early phase of development. The Internet for example, was created in 1969 and the “worldwide web” was designed in 1989 and subsequently the first web browser in 1990. Compared to those revolutionary technologies which massively transformed the communications landscape, blockchain technology is nascent and cryptocurrencies have only been in use for only a decade.

Crypto goes mainstream

Social media has exposed a lot of people to the crypto industry. The mass media is quick to broadcast the movements in bitcoin prices, leading to FOMO and FUD or the hysteria that sometimes characterizes crypto markets. Overall the ever growing coverage has done more to spur further development of new innovations within the space.

The price increase of cryptocurrency will probably be boosted by increased cryptocurrency adoption. While many institutions have started to invest and buy Bitcoin, there are still a lot of firms waiting in line to invest and buy Bitcoin. The average volume of digital assets transacted on any given day is just one percent of the FX trade. Regardless of cryptocurrencies increasing to more than $2 trillion in market cap according to Coinmarketcap, digital assets are still a tiny fraction of global equity trade ($34.8 trillion in 2020) and worldwide debt trade (over 281 trillion in 2020) according to Bloomberg.

With more institutional adoption of Bitcoin and other digital assets, traders and investors are presented with more chances to make money in the digital asset space.

How to make money with crypto

There are several ways of making profits with digital assets. Given that digital assets are basically volatile, many digital assets involve a great level of risk while some need greater expertise. It is important to have prerequisite knowledge about digital assets before you buy bitcoin.

One of the ways of making profits with cryptocurrency is through investing. This is generally for long-term purposes. It requires you to buy Bitcoin or other cryptocurrencies and hold them for a chosen period of time. This can be done via different traditional crypto exchanges or P2P platforms like Remitano. Digital assets are usually well-suited to the investing practice of buying low, holding and then selling high. Cryptocurrencies are highly volatile in shorter timeframes, however, they typically and have historically offered a much more lucrative upside over long periods compared to traditional investment vehicles.

Studies have also shown that most BTC profits are realized in the ten best trading periods of the year.

Due to cryptocurrencies being naturally volatile, investing for a long period is one of the ways of making profits with cryptocurrency. Just like with any type of investing, risks have to be thoroughly considered and expectations of rewards have to be managed well.

Another way of making profits with cryptocurrency is to trade digital assets. The most notable difference between investing and trading is the general time frames between entering and exiting positions. Investing is for a long period, while trading is basically to leverage opportunities over a short period. To trade digital assets successfully, it is important to know the basic fundamentals and have the capability to conduct technical analysis in order to avoid making costly mistakes.

Making profits via trading cryptocurrencies is more about knowing the price trend and pattern and utilizing it to forecast future value, many times over a short period. Find out the 20 best platforms to buy Bitcoin and other digital currencies in South Africa.

What is the possibility of making profits on crypto, risk-free?

Trading digital assets sounds relatively easy, however, due to the highly volatile nature of crypto assets, it involves a lot of risks. One of the ways to make profits on cryptocurrency with relatively low risk is by doing cryptocurrency arbitrage. This trading method exploits price and demand gaps between different digital asset marketplaces. But, the trades have to be done almost instantaneously to realize gains.

Arbitrage Trading

Crypto arbitrage involves exploiting price differences on different crypto exchanges for your benefit. This method is effective in places where bitcoin price varies from one exchange to the other like in South Africa and Nigeria. The price differences could be a result of several factors.

Arbitrage trading involves buying bitcoin or other digital assets from one exchange and selling it on other exchanges at a higher price. Selling the asset after the purchase must be done relatively quickly to avoid price movements narrowing margins or leading to loss at times.

Exploiting the price difference using the cryptocurrency arbitrage technique requires a cryptocurrency market that has price discrepancies depending on the supply and demand in the different markets.

Remitano Invest

Another way to make money risk-free is with Remitano Invest. Remitano invest allows you to buy and invest in cryptocurrencies without putting your capital at risk.

How?

With the Stop Loss and Take Profit features, your crypto asset will be liquidated to USDT (a stable coin) to prevent loss and maximize your profit. You simply set the auto sell price for the Stop Loss and Take Profit. When the asset you have invested hits your Take Profit price, Remitano Invest converts it into USDT to secure your profit. However, if the asset’s price falls to your Stop Loss price, the system will convert it into USDT to help you secure your capital and prevent further loss.

Risks and benefits are an intrinsic part of most money markets and they go hand in hand. Risks cannot be eradicated but they can be managed. Some risks can be managed by utilizing effective risk management practices. Personal risks like wallet hacks, coin theft, and loss of access to funds can be offset by making sure you implement good security practices.

Article & Image source: Heath Muchena

 

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