News
TD Takes ‘This is Me Campaign’ to Physically Challenged & Vulnerable Kids
Sub-Saharan Africa’s foremost distribution company, Technology Distributions Limited, (TD) has lent its voice to the call for greater engagement and support for the physically-challenged and other vulnerable members of the society as a means of restoring their dignity and helping them achieve their innate potential.
Anchored within its Corporate Social Responsibility programme tagged – This is Me, the first installment of TD’s outreach saw Executive Management and staff of the company visit the Correctional Centre for Boys in Oregun, Ikeja where it hosted the boys and the special needs children of the Modupe Cole Foundation to a great time on Friday October 26th 2018.
Also on ground were representatives of the State Universal Basic Education Board (SUBEB) and the Lagos State Ministry of Youth, Sports and Social Development.
Mrs. Ijogun, Managing Director, TD Mobile and some of the psychically challenged kids digging it out during the ‘This is Me’ visit at the Correctional Centre for Boys in Oregun, Ikeja
In her speech at the event, Managing Director, TD Mobile, Mrs. Ijogun noted that the physically-challenged as well as Orphans and Vulnerable Children (OVC) make up a significant proportion of Nigeria’s population, a situation that calls for greater action to cater to this essential segment of the nation’s human capital.
“Our physically-challenged brothers and sisters as well as the vulnerable orphans and children must be engaged and trained for worthy causes instead of being encouraged to be beggars on the streets of the nation.
“Presently, not a lot is being done to correct this anomaly and engage this critical segment of the nation’s population.”
According to her, there are a lot of failings within the socio-economic system responsible for the poor state of affairs with respect to the level of attention given, noting that TD is determined to lead the vanguard of correcting the status-quo.
TD member and some of the kids digging it out during the visitation.
“This is Me speaks to our aspirations to kick-start a movement to identify with you; This is Me is a determination to tell you boldly that we are one; that irrespective of the physical challenges and circumstances that you face today, you are strong, you are powerful and you can rise above any limitations and achieve whatever you aspire to.
“There are still some tall buildings in this country without elevators or wheel-chair entrances to cater to the needs of the physically challenged in Nigeria.
“There are so many young boys and girls out there, orphaned, deprived but with immense potential that, if harnessed properly, will go a long way in taking Nigeria forward.
“At Technology Distributions Ltd., we do not think that we can change this situation overnight.
“But in line with our tradition of taking on big challenges and surmounting them, we will not be silent.
“Our voices will be heard and loudly too. Gradually, the society, the Government and other stakeholders will take notice and begin to make the necessary adjustments to policies, practices and other procedures to accommodate this most critical segment of our population,” she concluded.
For over 40 minutes, the children within the age range of 10 and 18 were grouped into 3 categories for pep talks by other TD Executives including Coordinating Managing Director, Mrs. Chioma Chimere, MD Operations, Mrs. Shade Oyebode and TDX Entity Head, Mrs. Chizoba Ezike.
In a comprehensive way, the children received inspirational messages on how they can discover and improve their talents, the importance of vocational aptitude and good education and the need to stay focused, disciplined, prayerful and imbibe good morals, among other virtues needed to achieve success.
Mr. Stanley Okpaeleke, Group Executive Director, advised the children to form good habits and commit themselves to be better persons.
He affirmed that the visit is the beginning of a new relationship and charged them to remain determined by taking control of what they would become tomorrow, irrespective of any challenge.
As part of the company’s corporate social responsibilities, some tech appliances, food and clothing items, consumer goods and stationery were presented to the school and also to the special children of Modupe Cole Foundation.
Reacting, Mr. Salau Abolaji Wasiu, Principal of Correctional Centre for Boys, expressed appreciation for the relief materials and the presence of TD executives whom he described as role models.
On her part, Coordinator of Modupe Cole Foundation, Mrs. Abdul Gafar also expressed deep gratitude to TD on behalf of the foundation.
Featuring most prominently among other activities engaged in on the day by the kids and TD staff was a quiz session on Current Affairs, a choreography session, sack race and a keenly-contested dance competition.
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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