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UK Government Partners UBA Foundation, Others In £20m Drive To Support Girl-Education In Developing Countries

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UK Government Partners UBA Foundation, Others In £20m Drive To Support Girl-Education In Developing Countries

As part of activities to mark this year’s edition of the International Women’s Day (IWD), the United Kingdom Prime Minister, Boris Johnson has launched a new global partnership with UBA Foundation and 10 other organisations, to improve girls’ access to education and employment in developing countries.

To this end, the UBA Foundation, together with 10 other global businesses have come together with the UK government who will be working in partnership with UNICEF’s Generation Unlimited (GenU) to fund this very crucial programme that aims to provide high quality skills training to around one million girls around the world.

The UBA Foundation, other private sector players and global businesses who are partnering to fund and resource the initiative to tune of £11m are Accenture, Standard Chartered, Unilever, Microsoft, Pearson, PwC, Coursera, Vodafone, BP and Cognizant. The UK government has contributed an initial £9m to the initiative called the Girls’ Education Skills Partnership programme.

READ ALSO: Four Years On UBA’s Leo Continues To Lead In Nigeria, Africa

Explaining its drive to undertake this project which is expected to have far-reaching positive effects for the girl-child across the world, the UK Government pointed out that even before the Covid pandemic, millions of children did not have any access to school – and girls from disadvantaged families are particularly vulnerable to missing out on education, whether through poverty or prejudice. The pandemic has created even more barriers to education, with a peak of 1.6 billion children around the world having faced school closures.

Prime Minister Boris Johnson, who pointed out that this is UK’s first education partnership of its kind where the UK Government is joining forces with the private sector to boost girls’ access to education in developing countries, said, “The United Kingdom has long been a proud and mighty champion of this fundamental cause and today we take one leap further through our first Global Partnership of its kind – opening up opportunities for one million girls across the developing world to have access to high quality skills training.”

Continuing, Boris said, “Ensuring every girl and young woman across the globe receives 12 years of quality education is the greatest tool in our armoury to end the world’s great injustices. “Delivering on this mission will be one of the best defences against ignorance, ensure the greatest protection from prejudice and put a rocket booster behind our hopes and dreams for global development in the years to come.”

In his speech, Mr Johnson noted that some of the businesses involved will be contributing a range of resources including books, computers and other technology, mentoring, advice and access to their networks, skills and training programmes just as the private sector involvement will help ensure that education and learning opportunities provide girls with the skills for the future that employers need.

READ ALSO: UBA Publishes Names Of PTA Defaulters With Fake Tickets, Visas

The Group Chairman, United Bank for Africa (UBA), Mr Tony O. Elumelu, CON, who was in attendance at the event reiterated the importance of educating the girl child and giving back always as we strive towards sustainable development.

“We understand first hand, the need to empower young women in African communities to catalyse sustainable socio economic development. At the UBA Group, we are committed to women empowerment and we continue to champion women causes in our business and through our work in philanthropy. Working together, we must ensure that our girls are properly educated and attain the necessary skills that allow them to effectively compete as the world becomes increasingly global,” he added.

Mr Elumelu thanked the Prime Minister and the UK Special Envoy, Helen Grant, for the laudable initiative that will see more girls globally, being educated.

The UBA Foundation is the Corporate Social Responsibility arm of the United Bank for Africa group. The foundation is focused on initiatives that support education, empowerment and the environment on the African continent. For over 2 decades, the UBA foundation has been giving back and changing lives on the continent.

 

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Bitcoin Value Drops By 50% Since November Peak

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Bitcoin Value Drops By 50% Since November Peak

The value of Bitcoin has dropped below $31,000 (£25,140) – less than half of what it was at its peak last November, according to the Coinbase cryptocurrency exchange.

The fall of the world’s largest cryptocurrency by market value comes as stock markets around the world have also tumbled in recent days.

On Monday, key European, Asian and US indexes slid lower again.

Investors are fleeing riskier assets for safe havens like the dollar.

On Monday, Japan’s Nikkei index dropped 2.5%, while London’s FTSE 100 closed down more than 2%. In the US, the Dow fell nearly 2%, the S&P 500 dropped 3.2% and Nasdaq lost 4.3%, deepening the falls in recent weeks.

READ ALSO: Why It Is Unsafe To Invest In Bitcoin Now – American Billionaire

Uber was among the companies driving the declines.

Shares in the company dropped more than 11% on Monday after media outlets reported that chief executive Dara Khosrowshahi had warned staff that investors were becoming more cautious about investments. He said Uber would respond by cutting costs and slowing its hiring.

“It’s clear that the market is experiencing a seismic shift and we need to react accordingly,” he wrote in the letter.

“The average employee at Uber is barely over 30, which means you’ve spent your career in a long and unprecedented bull run. This next period will be different, and it will require a different approach.”

In times of market uncertainty traditional investors will often sell what they see as riskier assets – like digital currency – and move their money into safer investments.

Moves in cryptocurrency markets have increasingly followed wider trends, as professional investors, such as hedge funds and money managers, become more active in trading what was once the domain of individual investors and enthusiasts.

Bitcoin, which accounts for about a third of the cryptocurrency market with a total value of close to $570bn, has seen its price plunge more than 10% in the last day and more than 20% in the last week.

READ ALSO: Ukraine Becomes Latest Country To Legalize Bitcoin

Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 20% in the last week.

Volatile trading in digital assets has not been unusual in previous years, but much of 2022 had been relatively quiet for the cryptocurrency market.

Last week, central banks around the world, including the US, UK and Australia, raised interest rates as they attempt to tackle rising prices.

The US Federal Reserve raised its key lending rate by half a percentage point, marking its biggest rate hike in more than 20 years.

That has triggered more concerns among some investors that inflation and the higher cost of borrowing could have a major impact on global economic growth.

Investors are also worried about the impact of the war in Ukraine on the world economy.

READ ALSO: CAR Becomes First African Country To Adopt Bitcoin

Meanwhile, in the last year Bitcoin has become legal tender in two countries – El Salvador and the Central African Republic.

Since El Salvador said it would allow consumers to use the cryptocurrency in all transactions, alongside the US dollar, the International Monetary Fund has urged it to reverse its decision.

. BBC

 

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BREAKING: Disputed Oil Wells Belong To Rivers – Supreme Court

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BREAKING: Disputed Oil Wells Owned By Rivers - Supreme Court

The Supreme Court on Friday declared that Rivers State owns the 17 oil wells being disputed with Imo State.

The ruling has ended the political arrangement on the sharing of revenue.

In its verdict delivered on Friday, the Supreme court decided that the oil wells located in Ndoni and Egbema communities belong to Rivers State.

There was previously a political arrangement put in place by the federal government for the revenue from the disputed wells to be shared equally between the two states.

However, when Emeka Ihedioha became governor in 2019, a presidential memo directed that all the revenue should go to Imo.

READ  ALSO: Supreme Court Voids Buhari’s Executive Order 10

The Rivers State government swiftly filed a suit against the presidential directive.
This ruling by the court has now put an end to the equal sharing of the revenue from the oil wells with everything now going to Rivers.

 

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Transcorp Delivers Solid Q1 Performance As Profit Leaps By 147%

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Transcorp Delivers Solid Q1 Performance As Profit Leaps By 147%
Transcorp President/Group Chief Executive Officer, Owen Omogiafo

Transnational Corporation Plc, (Transcorp Group) has reported significant and impressive returns in all its major financial indices for the first quarter ended March 31, 2022.

Its unaudited results filed with the Nigeria Exchange Limited, showed that the conglomerate with interests in the power, hospitality, and energy sectors recorded a profit after tax of N5.0bn rising significantly by 147% up from N2.0bn recorded in March 2021; while profit before tax which stood at N2.5bn in March last year, gained 129% to N5.7bn in the same period under consideration.

A further look at the results showed that revenue increased by 28% from N24.4bn at the end of the first quarter of 2021; to N31.4bn as at March 2022, while operating income followed the same pattern as it grew by 45% to N10.0bn up from N6.9bn reported the previous year.

An increase in expenses such as inventories, prepayments, trade and other receivables, however, did not dampen the group’s total assets which rose to N417bn in the period under review, up from N416bn recorded at the end of the 2021 financial year; just shareholders’ funds also rose by 3% to N151.0bn, up from N146.3bn.

Transcorp’s President/Group Chief Executive Officer, Owen Omogiafo, who was excited at what she described as a great start to a rewarding year, expressed satisfaction with the performance for the first quarter 2022, and noted that the result is in line with the group’s strategy.

READ ALSO: Transcorp Group’s Profit After Tax Hits N27.9b

She stated: “This laudable performance was achieved as a result of the improved activities across all our businesses. We are excited with the results for the first quarter of 2022; delivering 28% rise in revenue and 129% rise in profit before tax; and we are confident in the strategic direction for the group as it underlines the success of our long-term objectives of diversifying revenues and accessing new business opportunities to deliver superior values to all our stakeholders.”

Omogiafo re-emphasised the brand’s commitment towards producing long-term value and sustainable impact, adding that already, this has been evident from the results churned out by the business in the full year 2021, and Q1 2022, despite the unstable operating environment, adding, “We will continue to work diligently as we remain well-positioned to provide significant value for our stakeholders.”

Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate, with a diversified shareholder base of over 300,000. Our portfolio comprises strategic investments in the power, hospitality, agribusiness and oil and gas sectors. Our notable businesses include Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power, TransAfam Limited and Transcorp Energy.

 

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