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Pastor Chris Builds School For A Village in Northern Nigeria

Pastor Chris
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Pastor  Chris Oyakhilome  has built a primary school for a the village of Yola in North east nigeria.

State-of-the-art primary school commissioned by COF International in Yola, Northeast Nigeria.

On the 23rd of October, the InnerCity Mission for Children, under the auspices of the Pastor Chris Oyakhilome Foundation International, commissioned a standard nursery and primary school in Demsa community, Yola in Adamawa state, North-East Nigeria. This laudable gesture was extended to provide quality free education and educational supplies to indigent children who are least likely to access education.

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Statistics show that one in every five of the world’s out-of-school children is in Nigeria. Only 61% of children aged 6 to 11 regularly attend primary school, and only 35.6% of children aged 36 to 59 months receive early childhood education. In Northern Nigeria, the picture is even bleaker: 2.8 million children are in need of education-in-emergencies support in three conflict-affected states (Borno, Yobe, and Adamawa).

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The man of God, Reverend (Dr.) Chris Oyakhilome, once said, “instead of cursing the darkness, light a candle.” Driven by these words, and in response to the critical situation in Northern Nigeria, the Chris Oyakhilome Foundation International (COFI), commissioned a tuition-free school for indigent children in Yola, Adamawa state. The commissioning of the school was witnessed by the federal, state and local authorities, esteemed Pastors and partners of the Loveworld Nation, religious leaders and other dignitaries.

READ Pastor Chris Net Worth

The line-up of events for the occasion included special dance presentations by the children and indigenes of the community, school kit distribution and a tour of the school facility. The guests also got to see the InnerCity Mission’s large-scale food kitchen from where the school feeding program in the state would be executed. The feeding program will provide every pupil with at least one nutritious meal each school day.

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The newly commissioned school in Yola, is one of the seven centers of the InnerCity Mission Schools situated in Africa and Asia. The expected outcome of the educational program is for all children to access and complete their basic primary education within a safe learning environment, while gaining the skills and knowledge required for lifelong learning.

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MultiChoice stakes $281.5 million in BetKing, widening Nigeria’s betting market.

MultiChoice
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MultiChoice purchased a 20% stake in Blue Lake Ventures Limited, a pan-African sports betting and Entertainment Company known as BetKing, in October 2020. Now, through its wholly-owned subsidiary, Mwendo Holdings B.V, MultiChoice aims to buy a further 29%.

This means Multichoice will have a non-controlling 49% share in BetKing Nigeria, valued at $281.5 million, in line with its aim to extend its entertainment ecosystem and build important future value drivers.

However, the completion of this deal is dependent on some substantive conditions. 

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First, Multichoice has to secure debt funding. To complete the transaction, they need to raise about $294.45 million in rand-denominated debt.

Secondly, the completion of the employee share incentive scheme is fundamental. The arrangement includes creating an employee share option plan by apportioning 10% of the company’s equity. More so, shareholders will own shares in the diluted business. 

Thirdly, they have to obtain regulatory approvals from antitrust or competition authorities in various jurisdictions. 

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Other requirements include agreeing on a reasonable exit clause for minorities who will sell down to recoup some of their initial investment.

MultiChoice
MultiChoice stakes $281.5 million in BetKing, widening Nigeria's betting market. 39

Multichoice Group CEO Calvo Mawela believes that sports betting is an exciting and buoyant market that is well-aligned with the company’s Pay-TV business.  He further adds that the majority of betting enthusiasts watch a lot of games, which Multichoice is known to show on its platform.  

About Betking Nigeria

Widely acknowledged as one of the popular sports betting platforms in the continent, Betking Nigeria was founded by Bryon Petzer and Adekunle Adeniji, who previously worked as Bet9ja’s virtual product manager. 

As of Dec 2020, Betking increased its annual revenue by 42% to $54.7M in 2019 to $77.9M. Meanwhile, its net asset value stood at $100.2M. 

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According to Technavio, the sports betting industry is expected to grow by more than $134 billion between 2020 and 2024, with a remarkable compound annual growth rate (CAGR) of 10%.

Nigeria’s betting space

Popular betting companies like Betking, Sporting Bet, Nairabet, Naijabet, Bet9ja, and Surebet24 dominate the betting space in Nigeria. 

In 2018, about 60M Nigerians ages 18-40 were involved in sports betting. Approximately, ₦2 billion was spent on active sports betting daily. Yet, Africa holds only 2% of global sports betting revenue. This, without a doubt, rationalizes BetKing Nigeria investment, as the continent is poised for great momentum as it starts to play catch-up.

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Glusea.com is an online website designated to publishing information that will help inspire and motivate high achievers. We believe that every individual lives his/her life based on the amount of information about life available to them. To this end, we strive to publish success stories of Accomplished individuals around the world as a way of motivating others. we also give tips on how to succeed in any field. If you are someone who aspires higher in; life, visit Glusea.com daily and you will be abreast with all the latest trends about success here. Welcome to the Glusea family.. we love you dearly contact us via email: gluseagh@gmail.com Copyright © 2021, Glusea