Lagos - The Youth Empowerment and Information Communications Technology Foundation plans to spend US$ 2 million to fund projects by up-and-coming entrepreneurs in the country.
At least 50 innovative ICT projects are poised to benefit from the funding while 250 youth across the country will benefit from the initiative in the next three years.
In addition, the Small and Medium Enterprises ICT Entrepreneur Fund will provide seed funding to young start-ups in the local technology industry.
The initiatives are part of efforts by government and private organisations’ commitment to attain the United Nations’ Millennium Development Goals (MDGs). Such commitments were made during the high-level week of the 68th session of the UN General Assembly in the United States.
During the event, world leaders agreed to scale up action against extreme poverty, hunger and disease particularly in the developing world.
The ICT industry is hailed as having potential to create jobs and enhance economic growth in the developing world.
Meanwhile, United Kingdom-based Pearson will increase total investment in innovative education solutions that deliver improved learning outcomes from $15million in 2011 to $30 million.
By 2014 Pearson will establish a multi-year, flagship partnership focused on opportunities to employ ICTs and other alternative/innovative approaches to overcome learning barriers in Africa and other regions, particularly in marginalized communities.
By 2018 Pearson will directly help 20 000 new graduates from across Sub-Saharan Africa transition into employment through the growth of its CTI Education Group.
- CAJ News