Tech
Why Youth Entrepreneurs Are Key To Tackling Climate Change in Africa By Tony Elumelu
I am a proud Nigerian and a proud African. I am also a philanthropist and entrepreneur—and I have seen firsthand that to effectively tackle climate change within the African context, from Egypt to Nigeria to South Africa, we must look to the people it impacts.
Too often our businesses have not created value on our continent or traded commodities for short-term profit, not long-term investment. Fostering entrepreneurship, sustaining young entrepreneurs, who will grow businesses and create sustainable employment, is a crucial pathway to achieving long-term climate solutions.
In 2010, my wife and I had an idea. Concerned with escalating poverty, we founded the Tony Elumelu Foundation (TEF) and committed $100 million to identify, mentor, and fund young African entrepreneurs—young people with brilliant ideas and the drive to tackle the continent’s most pressing challenges. They lacked capital, connections, and mentors. They lacked luck. We wanted to change that. It was a bold bet aimed at empowering Africa’s most vulnerable and populous demographic, encouraging them to create their own wealth, rather than relying on aid. And the bet paid off.
Since its inception, the foundation has empowered 20,000 entrepreneurs across 54 African countries, who have created 400,000 direct and indirect jobs and generated over $2.3 billion in revenue. We have provided access to business training to more than 1.5 million young people.
Given the scale of the task, we partner with the United Nations Development Program (UNDP), the International Committee of the Red Cross (ICRC), the European Union (EU), and other partners to deepen our reach and impact. We provide funding, mentorship, business training, and advocacy support to entrepreneurs—specifically, in fragile regions, conflict zones, and underserved communities.
Together, we address challenges like youth unemployment, poverty, and insurgency through entrepreneurship. In 2022, we partnered with UNICEF Generation Unlimited (GenU) and IKEA Foundation, to launch a Green Entrepreneurship Program that empowers youth whose businesses address the triple planetary crisis. Of the 20,000 young men and women entrepreneurs that TEF has empowered, more than 500 are directly or indirectly solving challenges related to climate change, and over a third (35%) working in the agricultural sector.
By empowering young people, we are establishing a dynamic engine that drives economic growth and development across the continent. These entrepreneurs also become vital pillars of support within their communities. They are not only creating essential jobs and income, but also uplifting families and breaking the cycle of poverty. And now, more than ever, is the time to bring a climate-lens to this entrepreneurship.
Africa is warming more quickly than the rest of the world. By 2030, an estimated 118 million Africans are projected to face drought, and rising sea levels threaten coastal regions, potentially displacing millions. Climate change is impeding access to basic necessities: water, power, food, and education. But these challenges also offer extraordinary opportunities for those with an entrepreneurial mindset to tackle climate change, while simultaneously creating significant economic value.
For instance, how can we enhance the sustainability of smallholder farmers, which comprise 80% of all farms in sub-Saharan Africa and employ 60% of the continent’s workforce? What strategies can be employed by African nations with vast forests—such as Gabon, Liberia, Guinea-Bissau, and Congo—to effectively leverage these critical carbon sinks?
To unlock the full potential of green solutions in Africa, we must nurture entrepreneurship—and this cannot be achieved by governments alone. We need to integrate government incentive schemes, with the opportunities presented by the private sector. It is imperative that we unite philanthropies, policymakers, and businesses. I refer to this movement as “Africapitalism”—a call for partnership led by the private sector, focused on fostering prosperity for all.
Global warming is not an inevitable fate. Entrepreneurs are inherently problem solvers; they possess the curiosity to explore opportunities and challenges, the creativity to devise innovative solutions, and the determination to transform obstacles into successes. Youth entrepreneurship can be a solution to averting the looming crisis of climate impact. It’s time to harness this power.
Tech
YouTube And Meta To Pay $3M Compensation To Girl Who Got Addicted To Their Platforms
A jury in Los Angeles has ruled that tech giants YouTube and Meta are liable for negligence in a closely watched case involving a young woman who said she became addicted to their platforms from childhood.
The panel awarded the plaintiff $3 million in compensatory damages, assigning 70 percent of the liability to Meta. Jurors also determined that both companies could face additional punitive damages, with a decision on that yet to be made.
The lawsuit, filed in 2023, alleged that platforms such as Instagram were deliberately designed to create addictive user experiences, particularly for young audiences. According to court filings, the plaintiff began using YouTube at age six and Instagram at nine.
During the trial, a therapist who treated the woman testified that prolonged social media exposure contributed to significant mental health challenges, including social phobia and body image issues.
Both companies have rejected the verdict. Meta argued that teen mental health is influenced by multiple factors and cannot be attributed to a single platform. YouTube, meanwhile, maintained that its service is not inherently addictive.
Legal experts expect both companies to appeal the decision, setting the stage for a potentially influential battle over the responsibility of tech platforms in safeguarding young users.
Tech
Google acquires energy company Intersect for $4.75 billion
Google is acquiring energy infrastructure company ‘Intersect’ for $4.75 billion (approximately 7 trillion Korean won) to secure the power needed for its AI (artificial intelligence) data centers. The move aims to address the power issue, the biggest hurdle in expanding data centers. Google, which developed the ‘Gemini’ AI, is a so-called ‘AI full-stack’ company equipped with all AI-related technologies and services, including AI chips and cloud (virtual servers). The strategy is to directly manage the energy infrastructure needed to actually operate AI as well.
Reuters reported on the 22nd (local time) that Google is acquiring Intersect for $4.75 billion in cash. Google already holds a minority stake in Intersect, and through this acquisition, it will also secure the gigawatt (GW)-level energy and data center projects that Intersect is developing and constructing. Intersect is expected to be responsible for building Google’s data center power infrastructure in the U.S., based on its technology linking power generation facilities and power grids.
Sundar Pichai, CEO of Google and Alphabet, said, “Intersect will enable us to build power infrastructure more quickly and flexibly in line with the increasing demand for AI data centers,” adding, “It will also be an important partner in strengthening America’s energy innovation and technological leadership.”
Bloomberg reported that Intersect’s energy assets currently in operation or under construction in the U.S. amount to $15 billion (approximately 22.2 trillion Korean won).
◇Google increasing energy investments
Google has recently been increasing its investments in the energy sector. Although the company possesses AI chips (TPUs), Gemini, and search and cloud services, stable energy supply is essential to support these businesses.
To this end, Google is also investing in nuclear power technology. In October of last year, it signed a long-term cooperation agreement with small modular reactor (SMR) startup ‘Kairos Power’ to secure up to 500 MW (megawatts) of power. It is noted as the first case among big tech companies to publicly declare securing SMR-based power. Additionally, in August, Google and Kairos Power announced plans to build the next-generation SMR ‘Hermes 2’ in Oak Ridge, Tennessee. The goal is to commence operation in 2030.
Google is also restarting previously shut-down nuclear power plants to secure energy. In October, it announced that it will collaborate with ‘NextEra Energy’ to restart the Duane Arnold Nuclear Generating Station in Iowa, which was closed in 2020. The target restart period is between 2028 and 2029.
Google is also investing in renewable energy such as geothermal power. Since 2023, it has been supplying power to data centers through geothermal power generation with ‘Fervo Energy’ in Nevada, U.S.
Google is also actively investing in next-generation energy technologies that are not yet commercialized. In 2022, it made a large-scale investment in ‘TAE Technologies,’ which possesses nuclear fusion technology. Nuclear fusion power generation is a technology that applies the principle of energy creation in the sun, combining atomic nuclei to produce energy. It is called the ‘dream energy’ because it has abundant fuel resources, emits no carbon, and, unlike conventional nuclear power plants, does not produce high-level nuclear waste. However, it is assessed that more time is needed for commercialization due to technical challenges. Recently, TAE Technologies has accelerated the commercialization of fusion energy by merging with Trump Media Group (TMTG).
Tech
“I Lost $1.2 Million To Hackers On One Of My Apps. I Caught One Of The Hackers, And Instead Of Handing Him Over To The Police, I Employed Him To Work For Me.”- BLord
Anambra Born tech entrepreneur and businessman Linus Williams, popularly known as BLord, has shared an unusual story about how he handled a major cyberattack on one of his applications.
According to BLord, he lost $1.2 million to hackers who infiltrated one of his digital platforms. In the course of tracking the incident, he successfully identified one of the individuals involved in the breach.
Rather than handing the suspect over to security agencies, BLord said he made a strategic decision: he employed the hacker.
He explained that the hacker’s skills, though misapplied, were exceptional and could be redirected towards strengthening his company’s cybersecurity systems.
BLord noted that the decision was driven by a desire to turn a negative experience into an opportunity for growth and to better secure his business infrastructure.
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GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI
