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UNIDO, partners to provide over 6,000 jobs for youths in Tunisia.

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THE United Nations Industrial Development Organization (UNIDO), the US Agency for International Development (USAID), the Italian Development Cooperation and the HP Foundation on Tuesday inaugurated the second phase of UNIDO’s youth employment project. “Mashrou3i” (“My project” in Arabic) aims to create more than 6,000 jobs for young people in Tunisia over the next five years.

Currently, in the governorates of Central, Southern and Northern Tunisia, around 40 per cent of young graduates are unable to find work. This situation is attributed to a range of factors, including the public sector’s limited capacity to employ more young men and women, a lack of diversity in the private sector, and a mismatch between the skills required by the private sector and those offered by graduates.

The Mashrou3i project has helped to create more than 1,250 jobs to date, including by helping more than 160 start-up businesses mainly in the governorates of Kairouan, Kasserine, Kef and Sidi Bouzid. During the second phase of this public-private partnership, the project will be expanded to 14 vulnerable governorates of Tunisia and US$14 million will be invested to provide direct support to aspiring and existing entrepreneurs through training courses, business coaching and technical assistance in Beja, Gafsa, Gabès, Jendouba, Kairouan, Kasserine, Kébili, Kef, Medenine, Sidi Bouzid, Siliana, Tataouine, Tozeur and Zaghouan. It will also help enhance the knowledge and capacity of local business support and higher educational institutions.

“There is an urgent need for innovative solutions that provide access to quality education and enable economic opportunity for everyone everywhere”.

“This initiative will provide young men and women in Tunisia’s most vulnerable governorates with skills required to be entrepreneurs and offer business coaching services to help them start their businesses or to be able to be competitive on the job market. We expect to reach more than 25,000 aspiring and existing entrepreneurs and create at least 6,000 additional jobs in Tunisia within the next five years,” said Glenn Rogers, Senior Development Advisor for USAID in Tunisia.

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Philippe Scholtès, Managing Director at UNIDO, who attended the launch, added: “Unemployment among Tunisia’s educated youth remains a major challenge. Through such public-private partnerships we can pool and leverage our expertise and resources and support Tunisia on its path of inclusive and sustainable industrial development. By working together, we can ensure the implementation of the 2030 Agenda for Sustainable Development.”

Flavio Lavisolo, Head of the Italian Development Cooperation in Tunisia, added: “Our efforts aim to stimulate private and public investment, and help companies increase their competitiveness and overcome constraints to growth. This, in return, will secure new employment opportunities for people living in disadvantaged governorates, mainly for young women and men. The project is in line with the new priorities of the Italian Cooperation in Tunisia, which focus on regional development and job creation.”

Mashrou3i will leverage the HP Foundation’s Learning Initiative for Entrepreneurs (HP LIFE) Program, which provides free online IT and business skills training for people all over the world. HP LIFE will help young Tunisian entrepreneurs develop the knowledge and skills they need to start, grow and run successful businesses.

 

“The Mashrou3i project is a scalable social innovation model with proven results,” said Jihed Jahdour, Managing Director, HP Inc. Tunisia. “There is an urgent need for innovative solutions that provide access to quality education and enable economic opportunity for everyone everywhere, wherever they are in the world. The second phase of the project signals the continuation of our successful partnership to foster employment opportunities for young men and women in Tunisia.”

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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