📚World Bank Pledges $1.2 Billion for Girls’ Education in Nigeria

Today’s Menu ☕️

📚World Bank Commits $1.2 Billion to Empower Girls’ Education in Nigeria
💰 USAID Website Goes Down Amid Trump Administration’s Freeze on Foreign Aid
🧑🏽‍💻 South Africa’s $21.4 million University Technology Fund II set to invest in innovations from universities
⚙️ Egypt’s Simplex Secures $13 Million to Establish CNC Factory in Saudi Arabia

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📚 EDUCATION

World Bank Commits $1.2 Billion to Empower Girls’ Education in Nigeria

In a significant push to advance education and empowerment for adolescent girls, the World Bank has committed a groundbreaking $1.2 billion to improve secondary education across 18 states in Nigeria. This initiative, part of the Adolescent Girls Initiative for Learning and Empowerment (AGILE) program, was relaunched in Abuja with a renewed focus on tackling barriers to education.

The World Bank Country Director, Ndiame Diop, highlighted the transformative potential of educating girls, describing them as “the mirror and mothers of their communities.” The AGILE program is designed not only to ensure that adolescent girls complete secondary education but also to open doors for better economic opportunities, reshaping entire communities in the process.

The AGILE initiative has set its sights on reaching over 15.2 million students, including 8.6 million adolescent girls, across 18 states, including Borno, Ekiti, Kano, Kaduna, and Sokoto. The program takes an inclusive approach by addressing the needs of married and unmarried girls, as well as those living with disabilities.....…continue reading

💰 FOREIGN AID

USAID Website Goes Down Amid Trump Administration’s Freeze on Foreign Aid

The US Agency for International Development (USAID) website unexpectedly went offline on Saturday, intensifying concerns over the Trump administration’s freeze on foreign aid and its broader attempt to restructure the agency. The sudden digital blackout follows reports of widespread program suspensions, staff furloughs, and uncertainty over the agency’s future. The move has sparked intense political and legal debates, with critics warning that the administration’s actions could undermine global humanitarian efforts, weaken US diplomatic influence, and threaten millions of vulnerable people worldwide.

Attempts to access USAID’s website on Saturday resulted in an error message stating that the “server IP address could not be found.” This unexpected shutdown coincided with reports that official plaques bearing USAID’s seal had been removed from its Washington headquarters, reinforcing speculation that the agency was being dismantled or absorbed into the State Department......…continue reading

🧑🏽‍💻 INNOVATION

South Africa’s $21.4 million University Technology Fund II set to invest in innovations from universities

Stocks & Strauss Fund Manager has officially announced the launch of the University Technology Fund II (UTF II), achieving a significant milestone in December 2024. All agreements for the fund have been finalized, and a substantial portion of the capital has been committed, marking a pivotal step toward reaching the target fund size of ZAR400 million (approximately US$21.4 million).

The inaugural fund, UTF I, showcased the remarkable potential of technologies originating from universities. Among its standout investments were Hyrax Biosciences, a leader in bioinformatics whose innovative software played a crucial role in the early detection and analysis of the Covid-19 Omicron variant, and CubeSpace, a globally recognized company that has garnered acclaim from NASA and is trusted by over 250 clients worldwide for its advanced satellite control systems and related technologies.

UTF II is set to invest in 15 to 20 companies, with a focus on highly scalable technology intellectual property (IP) across diverse sectors. The fund aims to allocate resources towards technology commercialization and growth, ensuring a strategic approach to nurturing innovative ventures with significant potential.....…continue reading

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⚙️ MANUFACTURING

Egypt’s Simplex Secures $13 Million to Establish CNC Factory in Saudi Arabia

In an exciting development for the industrial sector, Simplex, an Egyptian CNC machine manufacturing startup, has announced securing $13 million in funding to establish a massive factory in Riyadh, Saudi Arabia. The initiative aligns with the Kingdom’s push to localize advanced industries as part of its ambitious Vision 2030 agenda.

The upcoming factory will be built on a 20,000-square-meter site in the Saudi capital and will specialize in the production of cutting-edge CNC machines. This milestone was celebrated during a signing ceremony attended by key figures, including Eng. Ahmed Shaaban, Chairman of Simplex CNC, and Eng. Khalil ibn Salamah, Vice Minister of Industry and Mineral Resources in Saudi Arabia.......…continue reading

OPPORTUNITIES

• Applications are now open for the latest edition of the Tony Elumelu Entrepreneurship Programme (TEEP), designed to support startups through comprehensive training, mentorship, and a funding opportunity of US$5,000 Deadline = 1st Mar 2025……..continue reading

• Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading

• Applications are now open for the Timbuktoo MineTech Accelerator programme, a groundbreaking initiative by the Timbuktoo MineTech Hub aimed at driving innovation in mining technology, empowering startups, and scaling transformative technologies within the African mining sector. Deadline = 13th February 2025…..continue reading

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