News
LSETF & Coca-Cola System Sign MoU to Empower 1,000 Women under Coca-Cola 5by20 Programme
The Lagos State Employment Trust Fund (LSETF), Coca-Cola Nigeria Ltd and its bottling partner, Nigeria Bottling Company on Wednesday signed a partnership agreement to empower 1,000 women in Lagos State.
Through this partnership framework the selected women will receive training in financial literacy and business skills as well as start-up capital to integrate them into the Coca-Cola value chain as retailers of the Company’s beverage products.
This partnership is anchored on Coca-Cola’s 5by20 Programme which is the Company’s global commitment to enable the economic empowerment of 5 million women entrepreneurs across the its value chain by 2020.
Akintunde Oyebode, representing Lagos State Employment Trust Fund at the MoU signing ceremony, stated that LSETF’s mandate is aimed at creating an enabling environment for Lagos residents to realize their business aspirations by providing leverage & access to finance for them to thrive, while ensuring employment and innovative opportunities for all residents of the state.
He said that” partnership with an organisation such as Coca-Cola assures us that we are working in the right direction and strengthens our commitment to building entrepreneurs within the state.
“We understand that to empower a woman, is to empower a whole generation.
“We will continue to provide accessible and affordable credit to support women as they seek to start or expand their businesses; because when we do, we create wealth and employment that alleviates poverty.”
Mr Bhupendra Suri, Managing Director, Coca-Cola Nigeria Limited, reiterated the company’s commitment saying, “Now more than ever, we are certain of our commitment to the well-being of our communities, a critical part of which are our women.
“As pillars of their communities, women invest a sizable portion of the income they earn on the health and education of their children and in their local economies, creating a tremendous economic impact.
“Lagos State Employment Trust Fund is our partner of choice for this initiative considering our shared vision on women empowerment and its vast network across the State.”
He further stated that realizing the vision of enabling the economic empowerment of 5 million women by 2020 depends on building scalable models and powerful partnerships, across business, civil society and government, which is vital to maximizing the impact of their programs and making them more sustainable.
Mrs Sade Morgan, Legal and Public Affairs Communication Director, Nigeria Bottling company, in agreement, said, “As a part of The Coca-Cola System, we understand the importance of partnerships.
“Our business and its growth in Nigeria are a result of strategic partnerships with distributors, retailers and our consumers.
“Whenever there is a call to collaborate for sustainable impact, we ensure we are there to support it with our expertise.
“We will work to position each beneficiary in strategic locations that are profitable and link them up to our distribution network, so that the ripple effect of individual growth can be felt across our society.”
Coca-Cola and its bottling partner, Nigeria Bottling Company, will provide access to Coca-Cola trade assets (including coolers, tables, umbrellas and Coca-Cola beverage products); peer networks, funds for training and support beneficiaries in the set-up of retail outlets in commercially viable locations; linking them to the nearest Coca-Cola distributors.
LSETF will fund the trade assets and co-fund the programme implementation while also leading the identification and recruitment of participants to the programme.
This timely and welcome public private partnership is the second one between Lagos State Government and Coca-Cola System, the first one having been launched in 2012 and has so far empowered 300 women in the State.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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