Education
$200m Mobile Money Investment: Airtel Breaks Record
Airtel Africa Plc is listed on the Nigerian Stock Exchange (NSE) and Nigeria is the major market for the leading provider of telecommunications and mobile money services, which has presence in 14 countries across Africa.
Airtel Africa Plc is listed on the Nigerian Stock Exchange (NSE) and Nigeria is the major market for the leading provider of telecommunications and mobile money services, which has presence in 14 countries across Africa.
Airtel Africa PLC has signed agreement with The Rise Fund under which The Rise Fund will invest $200 million in Airtel Mobile Commerce BV (AMC BV), a wholly owned subsidiary of Airtel Africa Plc.
AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s 14 operating countries. Airtel Africa also said today that it’s considering listing the mobile money business as a separate business within the next four years.
The Rise Fund is the global impact investing platform of leading alternative investment firm, TPG.
The transaction values Airtel Africa’s mobile money business at $2.65 billion on a cash and debt free basis. The Rise Fund will hold a minority stake in AMC BV upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake.
The transaction is subject to customary closing conditions including necessary regulatory filings and approvals, as necessary, and the inclusion of specified mobile money business assets and contracts into AMC BV.
A newly incorporated investment vehicle of The Rise Fund will invest $200 million through a secondary purchase of shares in AMC BV from Airtel Africa. The transaction will close in two stages-$150 million will be invested at first close, once the transfer of sufficient mobile money operations and contracts into AMC BV has been completed, with $50 million to be invested at second close upon further transfers.
Education
Kano Govt. insists schools remain closed till April 6

The Kano State Government has directed all private and voluntary schools in the state to strictly adhere to the 2024/25 school calendar issued by the Ministry of Education.
The Director of Special Duties, Ministry of Education, Mustapha Yahya, made this known in a statement on Thursday and obtained by PUNCH.
“All primary and post-primary schools in Kano state must close on Friday, February 28, 2025, and reopen on Sunday, April 6, 2025,” it reads.
The statement further warned that any school that fails to comply will face penalties. “Schools that fail to comply with this directive will face appropriate sanctions,” it stated.
He said the directive aligns with the state government’s policy under Governor Abba Yusuf to enhance teaching and learning while ensuring balanced and sustainable school operations.
“This measure is to ensure improved teaching and learning while promoting balanced and sustainable growth in schools across the state,” the statement added.
The Ministry of Education reaffirmed its commitment to providing high-quality education and enforcing adherence to the approved calendar.
Education
Tinubu approves conversion of YABATECH to university

The Minister of Education, Dr Tunji Alausa yesterday disclosed that President Bola Tinubu has approved the conversion of the Yaba College of Technology (YABATECH) to a university.
He broke the good news to the management, staff and students of the 78-year-old institution during a working visit to YABATECH.
His words: “The rector said some minutes ago that the management, staff and students of the college have been praying and fasting that it be converted to a university. Somehow, you have kind of ambush me, but I must let you know that when I discussed the issue with President Bola Tinubu, he did not waste time in giving approval. I am just waiting for the memo and other necessary protocols from the appropriate quarters.
“This school is a legacy and with over 200 staff members holding doctorate degrees in various fields, it is more than ready and fit to become a university. All the credit about this should go to the President, who loves education and is concerned about giving the best to the youths, who are our future leaders.”
The education minister Alausa went round the institution to commission and inspect some ongoing projects, expressed satisfaction with the maintenance culture of the management that has kept the facilities in good shape despite their age.
He commended YABATECH management for pursuing excellence, adding, “we need innovation and investments in technology for development and I can assure you that the federal government will back you up.”
Alausa observed that one of the reasons the Tinubu administration is focusing on technical and vocational education as well as entrepreneurship is to stem the “Japa Syndrome” among the youths.
Said he: “We are not taking the issue of Artificial Intelligence, robotics, coding and others with levity. We know that if our youths are good at those things, they can be in Nigeria and be working for firms in many parts of the world and they will be earning foreign exchange. That will help stem this “Japa syndrome” of a thing, where people would travel abroad to do menial jobs.”
The minister said that for over three decades, Nigeria abandoned technical and vocational education and focused on producing graduates, who are always after white collar jobs and that now, the focus has changed.
“In Europe and other places, the focus has been on incorporating TVET to become a core aspect of their education system and that is what we are doing now. We need education that would aid manufacturing and technological innovations and that will also lead to a robust private sector which will drive societal growth and development, ” Alausa stated.
In his remarks, the Rector, Dr Ibraheem Abdul, said with over 200 PhD holders in its services, YABATECH was more than qualified to become a university.
He added: “While we are praying that we become a university, we don’t want to become just one of those universities. We want to be a university of Technical and Vocational Education that would bring innovation and also solve societal problems and challenges and contribute greatly to the advancement of our country. We have the manpower and we just need the support of the government in this regard,” the rector noted.
He highlighted various achievements recorded under his administration and vowed that the management would not relent in raising the stakes higher.
The Chairman, Governing Council, Prof. Funso Afolabi, lauded the education minister for the visit and appealed to him in supporting their demands.
“The bill that would state the change in status of YABATECH and the new name it would bear is expected to be sent to the National Assembly for passage and presidential assent,” Afolabi stated.
Education
FG makes U-turn on proposed scrapping of JSS, SSS system of education

Federal Government has made a U-turn on the proposed scrapping of the Junior and senior secondary school system replacing it with 12 years compulsory education.
Minister of Education, Dr. Tunji Alausa, told journalists at a press conference in Abuja, on Friday, that policy is at the proposal level and final decision has not been taken on the matter.
It was reported on Friday that the National Council of Education (NCE) has approved the scrapping of senior secondary system of education.
More details later..
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