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Systemspecs Trains Students to Become Globally Competitive at Remita Summer Coding Camp
Determined to improve the country’s education and engage young Nigerians to become globally competitive through the facilitation of capacity building and technology transfer boot camp, SystemSpecs, leading software company in Nigeria has pulled secondary school students together in a-two week intensive coding sessions in Lagos and Abuja.
Tagged Remita Summer Coding Camp, the two-week summer camp, according to SystemSpecs Corporate Social Responsibility programme coordinator, Akor Akpenyi, will build the capacity of the students to become globally competitive via coding and other technology programmes, which in many ways will provide solutions to Nigeria’s perennial challenges.
Akpenyi further explained that the coding camp is not a one-off platform, but a five-to ten-year plan that will help to drive national growth and development, especially in education.
“Today, we are engaging the secondary school students. Tomorrow, we may decide to engage the university students in order to build capacity and transfer knowledge through the application of technology in respect to artificial intelligence, machine learning and the Internet of Things, animation, building games, 3D printing along with some other interesting training”, she said.
According to her, “the knowledge gained from the training exercise would later transform to become major vocations that the students would lean-on to become value-adding professionals in the next couple of years. Our intention is to develop the ability of these students for the nation”, she said.
One of the parents who accompanied one of the participating students, Aishat Lawal at the summer camp, Olajide Lawal, told the media that he purposely brought her 12-year old daughter who is in JSS3 at the Federal Government College, Ibillo, Edo State, to the camp to learn how to write a line of code.
Lawal said that he had to register her ward when he learnt about the opportunities available to students who are digitally-inclined in this present digital age.
“I see a lot of opportunities that are lacking in my local government and brought Aishat here to build her capacity in addition to what she is being taught in Federal Government College”, Lawal said.
Lawal who brought her daughter from Ifelodun Local Government to Lekki, venue of the coding camp said he was satisfied with the high level of facilitators who administer the coding classes.
“Aishat told me that they were taught how to build animation, games, 3D printing and many other things. I know that after the two weeks, she would have learnt a lot of things”, Lawal explained.
However, the Executive Director, SystemSpecs, Deremi Atanda who was at the camp to raise the morale of the students said SystemSpecs is building the capacity of the students on how to discover the reason why they are in school.
“We are complementing what the government is doing. If one of the fundamental responsibilities of the government is being challenged, we cannot complain. We must look at what we can do to complement the government’s efforts. That’s education on a general level.
“At SystemSpecs, we are more interested in national competitiveness that rides on the back of the knowledge economy and knowledge economy thrives on the back of effective technology skills. That is what is driving our involvement in the summer camp, which is not a short-term plan but a long term plan. This is how SystemSpecs is contributing to national development, particularly in the area of education.
“It’s time for us to start planning for long-term development as a nation where young people can build capacity and skills to support local businesses. It may be too late to get the attention of students who are already in tertiary institutions because their minds are already made”, he advised.
In his words, Atanda said catching the secondary students young would make them be more “productive to serve in the local economy much earlier and become globally competitive”.
Nigerian Education Loan Fund (NELFUND) has said that Nigerian students will need to present their Unified Tertiary Matriculation Examination registration number (UTME); National Identification Number (NIN); and Bank Verification Number (BVN) to access student loans.
Mr Akintunde Sawyerr, managing director of NELFUND, assured that the body would ensure that those he called ‘ghost students’ would not have access to the soon-to-be-launched scheme.
The MD noted that NELFUND has put processes in place to ensure that all applicants and beneficiaries are traceable to prevent the loan from turning into a sort of national cake.
“We are using technology to run the system. The process of application is online and we are limiting human contact as much as possible. Once you have a Bank Verification Number, BVN and National Identification Number, NIN, which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” he explained.
He explained further that those who are already in school can apply for the loan at any level of their study, but must be at the beginning of each session. They would also have to provide their admission and matriculation details in addition to BVN and NIN.
According to the NELFUND boss, about 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centres would be among the first batch of beneficiaries. The number may increase as time goes on.
The programme, he noted, will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS), which will amount to N194 billion if the agency meets its projection.
He explained that the loan would be paid in two segments. The first, he said, is the chargeable school fees which would be paid directly to the institutions while stipend would be paid into individual student’s account for day-to-day upkeep.
Mr. Sawyerr stated that the amount individual applicants will access will vary because of the course of study, school fees payable and geographical location of the institutions among others.
On the method of payback, he said, “You don’t start paying back the loan until two years after your National Youth Service Corps, NYSC Scheme and that is, if you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he defaulted, then he becomes a criminal and we will work with every agency that can help us get the money back, for example, EFCC, ICPC etc.”
Sun International Limited, run by Anthony Leeming, South African entrepreneur, has agreed to sell its Nigerian interests to Rutam Finance Company Limited (RFC) for roughly $14.4 million.
The move is part of Sun International’s strategy to consolidate operations and focus on key markets. Sun International joined the Nigerian market in 2009, but has struggled in recent years due to a challenging operating climate.
This divestiture is consistent with the company’s strategic objectives and represents a shift in portfolio management.
Sun International, will sell a 43.3 percent ownership investment in Tourist Company of Nigeria PLC (TCN), which manages Lagos’ Federal Palace Hotel, to RFC for $1.875 million.
In addition, the group would pay off its whole $12.675 million credit to RFC, effectively exiting the Nigerian market. The corporation also intends to sell its remaining 6% ownership in TCN in due course.
The transaction, subject to customary closing conditions including as regulatory approvals, is estimated to create a cash inflow of about $14.41 million for Sun International.
These funds will be utilized to reduce debt.
Following the completion of the acquisition, TCN will no longer be included in Sun International’s financial statements.
This will reduce group debt by about $41.82 million, excluding IFRS 16 lease liabilities.
The closing is scheduled for no later than May 28, 2024, provided that all usual closing conditions are met. The Nigerian Competition Authority, the Securities and Exchange Commission, and the Nigerian Stock Exchange have all provided key clearances.
Sun International, founded in 1968 by the late Sol Kerzner, has grown into a renowned gaming and resort company under Leeming’s leadership.
In fiscal 2023, the company’s revenue increased by 7% to $646.14 million, while headline earnings increased by 86 percent to $55.35 million.
This demonstrates Sun International’s resiliency and strategic direction. Sun International’s pullout from Nigeria demonstrates the company’s dedication to streamlining its portfolio and pursuing growth possibilities in key areas.
With a rich history and a focus on the future, this transaction demonstrates the company’s commitment to create wealth for shareholders and stakeholders while also strengthening its position in the gaming and hospitality industries.
Sam Darwish, a US-Nigerian telecom entrepreneur, has experienced a huge financial setback in his holding in IHS Holdings following a recent drop in the shares of the top telecom infrastructure company on the New York Stock Exchange (NYSE).
Sam Darwish
According to data, Sam Darwish’s investment in IHS Holdings has lost $6 million in market value during the last 13 days. This drop reflects increasing selling pressure among NYSE investors.
From March 12 to 30, Darwish’s investment in IHS Holdings increased from $35.17 million to $49.27 million, resulting in a $14 million gain.
Darwish founded IHS Holdings in 2001, and it has since grown to become the largest telecom infrastructure business in Africa, Europe, Latin America, and the Middle East.
It is renowned for its huge tower count and is the world’s third-largest independent international tower firm.
In the last 13 days, IHS Holdings shares on the NYSE have dropped by 11.72 percent, from $3.67 on April 3 to $3.24 at the time of writing.
As a result, the company’s market capitalization has dropped below $1.1 billion, causing significant losses for stockholders.
As chairman and CEO of IHS Holdings, Sam Darwish holds a critical position in African telecom.
With a strong 4.17 percent ownership holding, equivalent to 13,958,158 ordinary shares, he is a key participant in the global telecom infrastructure business.
The recent double-digit loss in IHS Holdings shares has resulted in a $6 million decrease in the market value of Darwish’s shareholding in the top telecom infrastructure company. His shareholding has decreased from $51.23 million on April 3 to $45.22 million.
Despite this defeat, Darwish remains an important figure in the worldwide telecom business.
IHS Holdings’ extensive tower network and smart acquisitions have secured its position as a major participant in the global telecom infrastructure sector.
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