Egypt’s Ain Shams University has won the Unesco Confucius Prize for Literacy for its project that uses digital technology to teach literacy in rural areas of the country.
The annual Unesco international literacy prizes were awarded to six programmes from Cote d’Ivoire, Egypt, Guatemala, India, Mexico and South Africa, on International Literacy Day.
Ain Shams University president Prof Mahmoud El Meteini spoke in an online event held to recognise the award recipients on Thursday.
“Experience has taught us that despite the difficulties and challenges of using technology for adult distance learning, the opportunities are still encouraging,” Prof El Meteini said.
This year’s awards recognised projects that focused on inclusive distance and digital literacy learning during the Covid-19 crisis.
“Whether NGOs, non-profits, universities or national institutes, they are successfully reaching some of the most marginalised learners in the world,” said Stefania Giannini, assistant director general for education at the United Nations Educational, Scientific and Cultural Organisation (Unesco).
At least 773 million youth and adults globally cannot read and write, and 250 million children are failing to acquire basic literacy skills, according to Unesco.
In Egypt, about a quarter of the population is illiterate, according to the Central Agency for Public Mobilisation and Statistics.
Ain Shams University is participating in the National Literacy Project launched by President Abdel Fattah El Sisi, which aims to eliminate illiteracy in Egypt by 2030.
The public university in Cairo provides educational, economic and social services to poor villages, and trains students to join the project as literacy teachers.
For students in certain fields of study - including education, business, law and arts – teaching literacy is a requirement for graduation.
Student teachers are also provided with cash incentives of 250 Egyptian pounds ($16) from the government’s General Authority for Adult Education for every learner who becomes literate, as well as an expenses exemption for the following year from the university.
Between 2015 and 2021, authorities said, 21,537 learners successfully completed the programme, 55 per cent of whom were women and girls.
During the pandemic, there was an increased focus on using technology, such as creating a YouTube channel to share educational videos and offering online courses for students and university staff.
“Given the current Covid-19 crisis, we started using different educational platforms for both the teachers to provide the ongoing necessary training, as well as for the learning process,” Prof El Meteini said.
The “lack of adequate technological infrastructure” was a challenge, but the university continued to send educational convoys to the most disadvantaged regions in the country in parallel, he added.
The Unesco Confucius Prize for Literacy was established in 2005 with the support of the Chinese government. Each of the three prizewinners will receive a medal, a diploma and a cash prize of $30,000.
The prize gives special consideration to functional literacy and use of technological environments, in support of adults in rural areas and out-of-school youth.
The Unesco King Sejong Literacy Prize, sponsored by the Korean government and established in 1989, gives special consideration to language-based literacy development. The three winners will receive a medal, a diploma and a cash prize of $20,000.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Mobile phone packages comparison
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5