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CAR Worst Country In The World

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The Central African Republic, CAR, is the worst country in the world to be a young person, an index by a group representing Commonwealth countries showed.

Central African Republic has been plagued by inter-religious violence since 2013 when the mainly Muslim Seleka militia seized power, prompting reprisals from Christian anti-Balaka forces. Despite a February election touted as a step toward reconciliation, violence is still frequent. The index released by the Commonwealth Secretariat on Friday ranked 183 nations on employment, education, health and other prospects for people aged between 15 and 29.

CAR scored so low overall because it offers little or no access to education and healthcare, poor job prospects and low participation levels in politics. Sub-Saharan Africa continued to have the lowest levels of youth development in the world, despite significant progress in the last five years, the index showed.(Read the Full report:2016 Global Youth Development Index. The 10 countries that score lowest on the index are all from sub-Saharan Africa – the only region where the size of its youth population has not peaked.

Nigeria is not among the 10. According to U.N. estimates, the number of youths globally will rise to 2 billion by 2060 from 1.8 billion in 2015, with most of that growth expected to in sub-Saharan Africa. “While increases in civic and political participation – though voting or protests for example – in the region are encouraging, they will only get young people so far without corresponding improvements in access to health and education,” said Abhik Sen, one of the report’s authors.

“Deep inequalities in levels of youth development persist among countries worldwide,” he told the Thomson Reuters Foundation in a phone interview. In North American and European countries, for example, nearly 100 percent of young people can read and write, compared with less than 40 percent in Niger and South Sudan.

Germany topped the index for youth development, followed by Denmark, Australia, Switzerland and Britain. The report found that youth unemployment was a growing concern with young people at least twice as likely as adults to be jobless worldwide. Matthew Hobson, a World Bank expert on social protection, said in the report that “global growth and poverty reduction over the next 20 years will be driven by today’s young people, yet many of them struggle to find productive employment.” Sudanese billionaire philanthropist Mo Ibrahim said within three generations, 41 percent of the world’s youth will be Africans. “That is a wonderful resource for our continent if it is skilled and employed,” he said in the report.

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BUSINESS

Moniepoint Reaches African Unicorn Status With $110 Million Funding Boost

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Moniepoint reaches African unicorn status | fab.ng

Moniepoint Inc., a leading fintech company in Africa, has successfully raised $110 million in equity financing. This is to power the dreams of millions of businesses and their customers across the continent and the diaspora.

The Series C investment was led by Development Partners International’s African Development Partners (ADP) III fund. It is a premier fund focused on Africa.

Additionally, new investors joined the funding round. This includes a leading African private equity firm, Google’s Africa Investment Fund and Verod Capital. Existing investor, Lightrock, a global impact firm, also participated.

Tosin Eniolorunda and Felix Ike founded Moniepoint (formerly known as TeamApt) in 2015. Initially, it focused on providing infrastructure and payment solutions for banks and financial institutions. It has since grown into Nigeria’s leading business banking provider, trusted by millions of businesses.

The capital raised will be used to accelerate growth for Moniepoint across Africa.

Further, that entails building an all-in-one, seamlessly integrated platform for African businesses of all sizes. This platform will include services such as digital payments, banking, foreign exchange (FX), credit, and business management tools, making it a one-stop shop for business solutions.

Moniepoint’s exceptional contributions to Nigeria’s financial services sector have been widely acknowledged, along with its enviable track record of serving customers across Africa.

Each month, Moniepoint processes over 800 million transactions, with a monthly total value exceeding $17 billion, all while operating profitably.

Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., expressed his excitement about the successful funding round and the company’s plans to expand its offerings and reach across the African continent.

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ENTERTAINMENT

Lights, Camera…Naija! Netflix Unveils Ebuka Obi-Uchendu As Host

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Ebuka Obi-Uchendu Host For Lights, Camera… Naija | fab.ng

Netflix has tapped Nigerian TV sensation Ebuka Obi-Uchendu to host the upcoming second edition of Lights, Camera… Naija! The streaming giant made this official announcement ahead of the November 2, 2024 event.

As an award-winning host, Ebuka will lead the celebration of Nollywood’s brightest stars, industry veterans, and key stakeholders. Additionally, his influence in Nigerian media remains unmatched, as he frequently dominates social media conversations with his impeccable fashion choices and charismatic presence.

This year, the event revolves around the theme “Pioneers, Pillars, and Players.” Subsequently, this theme honors three distinct groups: the legendary founders who built Nollywood’s foundation, the behind-the-scenes experts who maintain the industry’s momentum, and the talented actors who capture global audiences.

Furthermore, the event draws an impressive crowd of industry professionals, musicians, and celebrities. Together, they gather to recognize both on-screen talent and the unsung heroes working behind the cameras.

Meanwhile, Netflix continues to dominate Nigeria’s streaming market. Consequently, their commitment to content diversity shows in their extensive library, which includes short films, feature films, TV series, and even gaming options. Most importantly, they offer these entertainment choices across multiple genres and languages.

Through this event, Netflix demonstrates its dedication to celebrating Nigerian entertainment. As a result, Lights, Camera… Naija! serves as a platform to acknowledge the past, present, and future of Nollywood’s entertainment landscape.

Finally, the collaboration between Netflix and Ebuka Obi-Uchendu promises to deliver an unforgettable celebration of Nigerian cinema and its talented community.

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MOVIES

Idris Elba To Relocate To Africa To Support Its Film Industry

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Idris Elba to relocate to Africa to support its film industry | fab.ng

British actor, Idris Elba has revealed his plans to relocate to Africa within the next decade. Motivated by a desire to contribute to the continent’s film industry, Elba expressed his intentions at a film industry event in Ghana. Interestingly, Elba has Ghanaian and Sierra Leonean heritage.

As part of his vision to bolster African filmmaking, Elba teased upcoming projects. This involves the establishment of film studios in Zanzibar, Tanzania, and Accra, Ghana.

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