The Future of Finance and Trade in Africa 2.0
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Libya Observer
a day ago
- Libya Observer
CBL discusses support for boosting daily oil output by 247,000 barrels
Libya's Central Bank (CBL) Governor, Nagy Issa, held an extensive meeting on Wednesday with National Oil Corporation (NOC) Chairman Masoud Suleiman to discuss ways of supporting efforts to raise the country's daily oil production by approximately 247,000 barrels. According to a statement on the Central Bank's official Facebook page, the proposed increase is expected to generate an additional $6 billion annually. The bank said this would enhance its ability to meet foreign currency demand, maintain the strength of the Libyan dinar, and support broader economic stability. During the meeting, the NOC presented a visual briefing on its oil production improvement plan for 2025 and 2026. The bank added that both sides emphasized the importance of continued coordination through bilateral meetings to secure necessary financial resources for planned projects, using both domestic and international funding channels, including the Libyan Foreign Bank and several international financial institutions. The meeting, held at the CBL headquarters in Tripoli, was attended by senior officials from the Central Bank, the Libyan Foreign Bank, and the NOC. Tags: Central bank of Libya National Oil Corporation oil production
Libya Observer
4 days ago
- Libya Observer
CBL detects unrecorded 3.5 billion dinars in withdrawn banknotes
Libya's Central Bank (CBL) has uncovered 3.5 billion Libyan dinars in 50-dinar banknotes that were not officially registered, raising concerns over possible large-scale unregulated currency circulation. In a preliminary count of withdrawn notes, the bank said the unaccounted cash is part of a second issuance printed in Russia during a period when Libya was operating with two rival central banks. According to the Central Bank's statement, the total amount printed was 6.65 billion dinars, but the returned amount exceeded 10.2 billion — suggesting that billions in notes were printed and circulated outside the official issuance framework. 'These notes are not recorded in the issuance department of the Benghazi branch and are therefore in violation of banking laws,' the bank said, citing Article 39 of the Banking Law. It described the finding as an illegal appropriation that caused 'serious damage to the national economy.' The bank said it had informed the Attorney General and the House of Representatives and promised to release final results once the count is complete. The unregistered money, printed by the former rival eastern-based Central Bank, was distributed primarily in areas under the control of Khalifa Haftar. Although initially rejected by Tripoli authorities, the notes were later accepted under pressure and circulated nationwide. The Central Bank warned that the excessive, unauthorised issuance contributed to inflation, currency devaluation, and increased risks of money laundering and terrorist financing.
Technical.ly
23-06-2025
- Technical.ly
What volunteering at youth tech events can do for your career and community
This is a guest post by Tim Weedon, a UX developer and the executive director of Tech Turn Up, a digital literacy and education organization serving underrepresented youth in the DC area through science, technology, engineering, arts and mathematics (STEAM) programming. Traditional networking can be awkward — stiff conversations in hotel conference rooms, business cards exchanged with the hope that someone might follow up. But what if real connection, career growth and inspiration weren't waiting at formal mixers, but instead in school gyms, libraries and community centers? At grassroots STEAM events, such as hackathons, coding workshops and robotics challenges, young learners get to dive into the world of technology with excitement and curiosity. But alongside them, the adults guiding these events often discover something unexpected: their own personal growth. From stranger to connector Alexandre is an international student from Canada, currently pursuing his MS in Information Systems Technology at George Washington University. He reached out to our Tech Turn Up one day, eager to help. No expectations, no conditions. He just wanted to volunteer at one of our youth hackathons. After the event, we sat down for a one-on-one conversation in which he shared his struggles to build connections in DC. As someone who isn't naturally outgoing, he had tried a few meetups but found them intimidating and cliquish. Volunteering at a STEAM event felt different. There was a shared purpose. Instead of struggling to make small talk, he found himself collaborating with tech professionals and corporate sponsors to support students while forming real relationships. 'There's no pressure,' he said. 'It doesn't feel forced. You're just helping, and you learn so much about people through the work.' That day, he met a database administrator, a nonprofit director and an HR leader — people he might never have approached in a traditional networking space. 'I'll definitely follow up,' he told me. 'It felt like a genuine conversation, not just networking.' A pivot from policy Kim came to us from the policy world. She was in an entry-level role and curious about technology but unsure where to start. Volunteering felt like a low-pressure first step toward a new career. Her assignment: Supporting elementary and middle school students in learning the basics of coding and UX/UI design. But what started as service to others quickly became a form of professional development for her. Working alongside professionals from various tech disciplines, Kim became increasingly drawn to data analytics. Through informal conversations and exposure to new tools, particularly through another volunteer who worked in the field, her curiosity evolved into a genuine interest. She began taking free online courses, incorporating data-informed thinking into her policy work, and eventually took on analytics responsibilities in her job. It all began by showing up to help a few kids learn how to code. Why This Works Stories like Alexandre's and Kim's aren't rare. They highlight something that's often overlooked in professional development: the power of service as a pathway to growth. Here's why volunteering works, especially in local tech communities: • Personal values: For many, volunteering aligns with core values, such as mentorship, inclusion and equity. It feels meaningful because it is. • Extrinsic motivation: Volunteering can also be a strategic choice. Especially with smaller or newer nonprofits, there's space to try new roles — data analyst, project manager, UX designer — before you officially have the title. • Social norms and networking: People connect more authentically when cooperating for a shared purpose. You meet mentors, collaborators and future colleagues in environments that invite real engagement, not just business card exchanges. As the saying goes, you can 'fake it till you make it' by testing new paths, stretching your skills and building confidence in a supportive setting. How to get involved Whether you're entry-level, mid-career or seasoned in your professional journey, here's a simple invitation: show up. Explore volunteer opportunities beyond your job or alma mater. Look for events that match your interests or align with where you're looking to grow. In the tech field, these could be one-off hackathons, recurring coding workshops or ongoing mentorship programs. By stepping into these community spaces, you'll access new networks, expand your skills and gain clarity on your next move. Supporting STEAM programs with your time, your skills or commitment to amplifying a mission builds a better tech ecosystem for everyone. Even the smallest gesture can spark real, lasting change. These experiences open doors for young people, help volunteers grow their skills and strengthen community bonds. It's more than service — it's shaping futures through shared effort and purpose.
