News
uLesson Education Introduces Junior Secondary School Library
Ed-tech start-up, uLesson Education Limited, has expanded the content library on the uLesson app to include lessons for Junior Secondary School students. This new library went live on the uLesson app on July 7, 2020.
The uLesson app launched in March 2020, with a Senior Secondary School library, covering Mathematics, Physics, Chemistry and Biology. With this update, the app now offers students in junior secondary school access to curriculum-relevant content in Basic Technology, Business Studies, Basic Science and Mathematics.
Speaking on the introduction of the junior secondary library, Founder and CEO of uLesson Education Limited, Sim Shagaya said, “The launch of the junior library is in harmony with our goal as an organization to help students maximize their academic potential and prepare for a future in various disciplines.
“The digital age is quickly shaping the education landscape and the way students learn. It is our goal at uLesson to leverage this digital transformation to provide learning tools that will help students learn in a simpler and more effective manner.”
“Like the Senior School library, the Junior School library has been richly designed in scope, interactivity, and effectiveness in line with the West African Secondary School curriculum. We have taken steps to provide best-in-class lessons delivered by expert tutors to ensure that learners get only the best learning experience”, Shagaya added.
Manji Cheto, Vice President, Learner Experience and Growth, uLesson Education, said the new library addresses a deep customer need.
She stated, “we pride ourselves as a Company that listens to and anticipates customer needs, and then acts quickly to respond to these concerns. The release of our junior secondary library is a great example of this. Customers made it overwhelmingly clear that this is what they wanted from us and so, we are proud to deliver this in the timeframe that we have”.
The uLesson app employs a simple and personalized approach to learning, leveraging a mix of media and technology to provide engaging lessons and quizzes to foster deep understanding of a subject matter and continued learning for students. uLesson is creating a platform to revolutionize the way students learn and study for their exams. The Company plans to include more subjects and features in the coming months.
News
NELFUND Says UTME, NIN, BVN Mandatory for Student Loans
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.”
News
Sun International Finalizes $14.4M Exit from Nigeria, Sells Interests to RFC
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.
News
Sam Darwish, US-Nigerian Businessman Suffers $6m Loss as IHS Shares Plunge
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).
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.
- News2 days ago
QNET Raises Alarm over Fraudulent Use of Foundation’s Name in Nigeria
- News2 days ago
SoftTalk Messenger Introduces Chat and Make Calls without Sharing your Phone Number
- Telecom2 days ago
Starlink Users in SA to be Cut Off April 30
- Telecom2 days ago
NCC Advises Subscribers to Opt for Strong Passwords to Beat Hackers
- Broadcasting2 days ago
Canal+ Offer for MultiChoice Gains Shareholders’ Support
- E-Financial2 days ago
Fidelity Bank Reports N124.3Bn Pre-Tax Profit for 2023
- Telecom2 days ago
9mobile Clinches 2 Trophies at the Prestigious SABRE Awards 2024
- E-Business2 days ago
Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes