NEWS
Absa announces second cohort graduation from Cybersecurity Academy
Absa Group , a financial service provider in Africa , announced the graduation of its second cohort of 20 talented students from the Absa Cybersecurity Academy . This milestone marks not only a significant achievement for these young individuals but also highlights the essential partnership between Absa Group and Maharishi Invincibility Institute .
The Absa Cybersecurity Academy ’ s comprehensive three-year academic curriculum encompasses formal technical education , practical hands-on experience , and intensive personal mastery and soft skills development . Established in partnership with the Maharishi Invincibility Institute in 2019 , this initiative underscores Absa ’ s commitment to making a positive impact in the communities it serves by addressing the global skills shortage through innovative education .
In testament to the programme ’ s success , the first cohort , which graduated in 2022 , has been offered internships at Absa and have secured permanent placements . This not only demonstrates the Academy ’ s effectiveness but also its significant contribution to reducing youth unemployment in South Africa .
The importance of this partnership extends beyond the individual students , as it addresses the critical cybersecurity skills gap in South Africa and globally . According to the Fortinet 2023 Cybersecurity Skills Gap report , 40 % of South African companies struggle to hire and retain cyber security talent , and 64 % agree that the shortage of cyber security skills creates additional cyber risks for organisations .
The Absa Cybersecurity Academy , with campuses in Johannesburg and Cape Town , prioritises conscious-based learning . It not only imparts technical knowledge but also fosters social awareness of cyber threats , encompassing both formal and informal sectors .
In the face of South Africa ’ s high unemployment rate , initiatives like the Absa Cybersecurity Academy are vital for equipping young talent with valuable skills and bright career prospects .
Zambia based Lupiya raises $ 8.25 million Series A funding for neo banking business
Pioneering Zambian neobank , Lupiya has successfully secured
$ 8.25 million in Series A seed funding round . The fundraising was led by Alitheia IDF Fund , a Private Equity Fund that invests with a gender lens , with substantial participation from INOKS Capital SA and the German Investment Bank KfW DEG .
Founded in 2016 , the neobank has steadily risen as a prominent figure in Zambia ’ s fintech scene and has an impressive list of backers that includes Mastercard , Google , The World Bank , and the UN International Trade Centre . Lupiya ’ s primary mission is to bridge the financial inclusion gap by offering easy-to-use , technology-driven financial solutions to the unbanked and underbanked populations in Zambia .
The involvement of renowned financial institutions like INOKS Capital SA and KfW DEG further underscores the trust and confidence the global investor community places in Lupiya ’ s potential to revolutionise the financial landscape in Zambia .
As fintech solutions continue to reshape the African financial ecosystem , Lupiya ’ s fresh capital infusion is yet another testament to the continent ’ s dynamic and evolving digital economy .
The funding will be channelled into enhancing Lupiya ’ s technological infrastructure , expanding its range of financial products , and scaling its operations to reach more customers .
Lupiya ’ s efforts were recently lauded by US Vice President Kamala Harris during her visit to Zambia where she said , “ Providing capital to women helps them increase the economic status of their families and their communities .”
Evelyn Chilomo Kaingu , Co-founder and CEO of Lupiya , expressed her excitement about the funding . “ This Series A investment marks a significant milestone in our journey to continue serving our customers and the opportunity to further provide holistic financial solutions .”
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