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TECNO Renews Partnership With UNHCR to Support Primary Education in Africa for Refugees

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Premium smartphone brand TECNO today announced the renewal of its partnership with UNHCR, the UN Refugee Agency, to support UNHCR’s global program in primary education, Educate A Child (EAC). The partnership aims to support the improvement of refugee children’s education in Africa, ensuring refugee children’s right to education and ultimately contribute to equal access to education for all.

In 2020, the COVID-19 pandemic devastated the learning conditions of refugee children, causing school closures in Africa over the school year. By contributing financially to the EAC program, TECNO’s support has benefited children in Kenya’s Dadaab camp by providing them with textbooks and school kits. In addition, TECNO donated tablets to support continued learning of refugee children during school closure, as well as 50,000 medical face masks for UNHCR Kenya to support its COVID-19 response.

In 2021, TECNO and UNHCR will continue the partnership to benefit a total of 10,670 refugee children in Uganda and Kenya. TECNO’s financial contribution to the EAC program will contribute to the holistic intervention in these locations including improvement of school infrastructure, material assistance to students, training for teachers, and support for refugee students with special needs.

Uganda and Kenya are amongst the world’s top host countries for refugees. Uganda is the largest one in Africa. Over half of the refugees in the two countries are below 18 years old (58% in Uganda and 53% in Kenya). While some refugees may have the access to study in public educational institutions, the shortage of learning resources has put many refugee children at risk of dropping out of school. In the context of the COVID-19 pandemic in Africa, continuous commitment from TECNO is important to support a safe school reopening and better access for refugee children to continue their primary education, laying the foundation for them to pursue higher education in the future.

Vivian Tan, UNHCR Representative ad interim in China, expressed appreciation for the continued support from TECNO. “UNHCR welcomes this renewed partnership,” she said. “COVID-19 has interrupted learning in many countries, and refugee children are no exception. Support from our private sector partners like TECNO is critical for UNHCR to continue and strengthen our efforts to support refugee learners and students to continue their education in this difficult time, and in the post-COVID time. The Chinese private sector can play an important role in addressing the gaps in refugee education globally, including providing financial contribution, technology and innovative solutions. We hope more Chinese private sector actors will be inspired by the partnership between TECNO and UNHCR.”

Stephen Ha, General Manager of TECNO said, “With the renewed partnership with UNHCR, we hope to continue our support in improving the learning conditions of refugee children. As part of our Corporate Social Responsibility, TECNO is committed to giving back to the community where we are present. In the post-COVID time, we will amplify our efforts, especially using digital solutions to increase educational opportunity and enhance education quality for children in Africa so that they could receive better education and be better connected with the world.”

Inclusive and equitable quality education is Goal 4 of the 2030 Agenda for Sustainable Development and is also a long-term goal for UNHCR. Since 2020, UNHCR has been working with different partners to implement the EAC program that aims to provide 365,000 out-of-school children with primary education in 14 operations by 2022. Out of the 14 countries, Kenya and Uganda are two key operations. Despite the huge impact of COVID-19, UNHCR remains committed to advancing inclusive and equitable quality education for refugee children.

By the end of 2020, an estimated 4.2 million children and youth of concern to UNHCR have been affected by the pandemic globally. Once out of school, many refugee children will never return. UNHCR has been making efforts to create more equitable and inclusive educational access for displaced and refugee children so that they could all return to school. UNHCR and TECNO will deepen their partnership, through which they hope to engage more with corporate employees, partners and the wider public audience to strengthen understanding and support for education in Africa.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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EU Raises Tariff on Chinese Electric Vehicles by 35%

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Electric car

In an effort to slow down Chinese infiltration of the European market with more affordable options, the European Union has hiked tariffs on electric vehicles from China by 35% to 45% from the usual 10%.

According to people familiar with the situation, ten member states voted in support of the new tariff while Germany and four others voted against it. The remaining 12 states reportedly abstained.

Last month, the former European Central Bank President Mario Draghi warned that Chinese state-sponsored competition was a threat to the European Union and could leave the region vulnerable to coercion.

The bloc had claimed that China unfairly subsidized its industry to have an edge over EU businesses, a claim Beijing denies and has threatened retaliatory action on European dairy, brandy, pork and automobile sectors.

However, given the size of trade between the bloc and China, €739 billion or $815 billion in last year, it’s believed the two parties will continue negotiations to find an alternative to the tariffs.

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OpenAI’s Valuation Soars to $157 Billion After $6.6 Billion Funding Round

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OpenAI, the company that owns Chatgpt, has raised $6.6 billion in a new funding round to boost the company’s valuation to $157 billion as it looks to strengthen its lead in generative AI technology.

Thrive Capital led the funding round with $1.3 billion, while Microsoft invested an additional $750 million, bringing its total investment in OpenAI to $13.75 billion.

According to a source familiar with the matter, Khosla Ventures, Fidelity Management & Research Co., and Nvidia Corp., the chipmaker whose powerful processors are driving the AI boom—were also among the investors.

Apart from Elon Musk’s SpaceX and TikTok owner ByteDance Ltd, this deal ranks as one of the largest-ever private investments.

The ability of OpenAI to raise such a substantial amount despite heightened global risks demonstrates the industry’s confidence in the power of AI.

Other investors included Tiger Global Management, which contributed $350 million, and Altimeter Capital, which invested at least $250 million.

SoftBank Group Corp. and the new Abu Dhabi-based tech investment firm MGX also participated, with SoftBank’s investment totaling $500 million, according to one source who requested anonymity. Venture firm Coatue was another participant.

In a statement, the company said it plans to use the funds to advance AI research and expand its computing capacity. “AI is already personalizing learning, accelerating healthcare breakthroughs, and driving productivity,” said OpenAI Chief Financial Officer Sarah Friar. “And this is just the start.”

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Kazang Pay Launches Card Acquiring Service in Zambia

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Kazang, the prepaid value-added services (VAS) and card acquiring business within JSE-listed fintech Lesaka Technologies, has launched its Kazang Pay card acceptance solution for merchants in Zambia. Kazang Pay makes it affordable for merchants to accept card payments on the same Kazang terminal they use to sell prepaid products and services.

The Kazang Pay enabled terminal in Zambia accepts VISA debit and credit cards as well as mobile wallet payments. Payments are settled to the merchant’s Kazang wallet on the same day. It’s as easy as letting the customer tap or insert their bank card and enter their PIN on the secure scramble PIN pad.

Kazang operates around 12,000 VAS terminals in Zambia. The goal is to enable the majority to accept card payments over the next six months. Benefits to merchants include low transaction fees and no monthly terminal rental fee for those that meet a modest monthly transaction threshold as well as the opportunity to grow their business through card acceptance.

Kazang is Zambia’s largest VAS point-of-sale terminal provider, enabling mobile money payments, bank and mobile money cash in and out, bill payments, airtime, Zesco, and many other prepaid services on one platform. The addition of card acceptance makes the platform even more comprehensive for merchants and consumers alike.

The launch of Kazang Pay in Zambia follows the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments.  In Zambia, there are around 3.8 million debit, credit and ATM cards in issue and 41,000 point of sale (POS) terminals in place. The value of POS transactions has grown to K 111.4 billion by 2022 from less than K 20 billion in 2018, according to the Bank of Zambia.

Says Leon de Wit, managing director at Kazang Zambia: “Zambia has made enormous strides in terms of financial inclusion, with card usage and penetration growing at a rapid pace. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use for vending of VAS products.

“Card transactions help merchants to grow basket sizes and potentially attract more customers, and at the same time, reduce the risks and costs of handling cash. Moving towards digitalised payments will also enable merchants to track sales, manage cash flow,  and create a footprint that could make it easier for them to access loans.”

Ashley Naidoo, director of Kazang Pay in South Africa says: “Our Zambian merchants have eagerly embraced our card acquiring service as a valuable part of our one-stop solution. Following the launch of Kazang Pay in Zambia, we have seen higher VAS sales across our merchant base and much-improved merchant retention and with our card acquiring solution we now appeal to a broader merchant base.”

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