Connect with us

News

Airtel Touching Lives Provides Lifeline to Family of Seven

Published

on

Kindly share this post

Leading telecoms services provider, Airtel Nigeria has created awareness about ‘Cerebrovascular accident’ commonly known as ‘stroke’ through the latest episode of the ground-breaking CSR initiative dubbed Airtel Touching Lives.

The latest episode of the ground-breaking CSR initiative powered by Nigeria’s leading telecoms services provider, Airtel Nigeria dubbed Airtel Touching Lives has created awareness about Stroke ailment in Nigeria.

The tenth episode of the show which aired last weekend focused on the heart breaking story of a family whose means of survival was abruptly terminated after their benefactor suffered a stroke which rendered him unable to fend for the family.

Emmanuel Ochibo’s travail started on a fateful morning of January, 2011 when he suddenly lost control of the left part of his body while driving on the highway.

What started as a seeming minor condition later turned out to be diagnosed as a partial stroke, a condition he battled with for over 2 years.

Stroke is a condition that occurs when the supply of blood to the brain is temporarily restricted. This could result in paralysis, speech and memory loss and also death.

During the period of his struggle with the ailment, the family of nine with seven children lost all their means of livelihood with Emmanuel resorting to selling his car and house to sustain the family.

Things continued to take a downward turn with the wife resorting to sales of roadside food to make ends meet. The two eldest children who ought to be in school have had to drop out to enable them fend for the family.

Attempts by Emmanuel to return to paid employment to sustain the family have been frustrated with his employers owing him almost a year’s salary.

The condition which devastated Emmanuel’s life and that of his family drew the sympathy of his sister Veronica who nominated him as a beneficiary under the Airtel Touching Lives initiative.

According to Veronica, “My biggest fear for him is the family and the future of the children.”

In support of the family, Airtel has provided the Ochibos with a provision store with supply of goods for a year.
The family expressed their joy and optimism about the lifeline provided by Airtel. “With a source of steady income, the family have a chance to stand back on their feet again,” expressed a relative of the family.

“Where there is life, there is hope; where there is will, there is a way. We hope this will be the beginning of great things for the family. With this gesture, we are hopeful the family will be able to bounce back and the children will have an opportunity to return to school and pursue their education,” said Airtel in a statement by the telco.

Airtel Touching Lives, hosted by Wana Udobang, will return to television networks all over the continent on Saturday and Sunday, the company said.

The next episode will air on Saturday on Africa Magic Urban at 6:30pm and on Africa Magic Family at 7pm. Later, RaveTV will air the same instalment from 9-9:30pm with a repeat broadcast showing on Africa Magic World from 6-6:30pm. NTA Network and ArewaTV will do the same at 6:30pm and 7pm, respectively.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

NELFUND Says UTME, NIN, BVN Mandatory for Student Loans

Published

on

Kindly share this post

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.

NELFUND Says UTME, NIN, BVN Mandatory for 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.”

 


Kindly share this post
Continue Reading

News

Sun International Finalizes $14.4M Exit from Nigeria, Sells Interests to RFC

Published

on

Kindly share this post

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.

Sun International Finalizes $14.4M Exit from Nigeria, Sells Interests to RFC

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.

 

 


Kindly share this post
Continue Reading

News

Sam Darwish, US-Nigerian Businessman Suffers $6m Loss as IHS Shares Plunge

Published

on

Kindly share this post

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, US-Nigerian Businessman Suffers $6m Loss as IHS Shares Plunge

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.

 


Kindly share this post
Continue Reading

Trending