Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi handed over the award to LightEd Impact's co-founder Stanley Anigbogu. Pawan Singh / The National
Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi handed over the award to LightEd Impact's co-founder Stanley Anigbogu. Pawan Singh / The National
Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi handed over the award to LightEd Impact's co-founder Stanley Anigbogu. Pawan Singh / The National
Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi handed over the award to LightEd Impact's co-founder Stanley Anigbogu. Pawan Singh / The National

Nigerian foundation wins top Sharjah award for using plastic waste to light up refugee communities


Ali Al Shouk
  • English
  • Arabic

A Nigerian foundation that converted plastic and e-waste to light up refugee communities and underserved regions across Africa has won a Dh500,000 award in Sharjah.

LightEd Impact Foundation was selected from over 527 candidates from 53 countries for the eighth Sharjah International Award for Refugee Advocacy and Support.

Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, handed over the prize to LightEd Impact's co-founder Stanley Anigbogu at a ceremony held at Sharjah Research Technology and Innovation Park on Wednesday.

The award, sponsored by The Big Heart Foundation, recognised LightEd's innovative way of repurposing electronic and plastic waste to create portable solar lamps and electric charging stations. It benefitted more than 50,000 underserved African households and helped reduce the use of harmful kerosene by 70 per cent.

Stanley Anigbogu of LightEd Foundation hopes to reach a million refugees over the next five years. Pawan Singh / The National
Stanley Anigbogu of LightEd Foundation hopes to reach a million refugees over the next five years. Pawan Singh / The National

“Our work is driven by the belief that when we light up a home, we light up a future,” Mr Anigbogu told The National.

The foundation has so far provided solar lamps for 25,000 students and trained over 2,000 community members in solar technology installation and maintenance.

“When we empower a child with knowledge, we empower a generation. I’m thrilled knowing that we are providing light to those in darkness for a better future,” Mr Anigbogu added.

The award will go towards funding the foundation's next project of “transforming plastic waste into bricks to build solar-powered charging stations for phones”.

And they hope to reach “a million refugees” within “the next five years … It is going to be a very long journey but we dare to dream big”.

How is energy access linked to education

The 24-year-old energy expert, who grew up in Onitsha, Nigeria, experienced the struggles of “energy poverty” growing up when all he had access to was a kerosene lamp or a candle in his home.

“I realised how deeply energy access is connected to education, health and opportunity. In 2021, I started the initiative with $200 by transferring e-waste into solar light,” he added.

“My journey has been filled with moments of profound joy such as watching a child’s face light up with the first glow of clean energy, seeing a mother’s relief as she charges a phone to stay connected to loved ones.”

The foundation has also contributed towards improving healthcare facilities in rural areas. They have used solar energy to power clinics, ensuring that vital services, including refrigeration for vaccines and medical supplies, are available even in the most remote locations.

“These efforts are critical in areas where healthcare delivery has been hampered by the lack of electricity,” he noted.

Mariam Al Hammadi, director general of The Big Heart Foundation, said the humanitarian action has a vital role in overcoming global challenges.

LightEd “has established solar energy stations in remote areas, providing refugee children the opportunity to continue their education and acquire essential skills. It also contributed to establishing safety and security standards, leading to a reduction in various forms of crime, including theft, murder, harassment, and rape”, she said in her speech.

“Our ultimate hope is that this award will no longer be necessary one day. We dream of a world without refugees, where wars in Palestine, Sudan, Lebanon, Yemen, and other nations cease, and where peace prevails,” she added.

“Despite the difficult circumstances in Gaza today, we remain confident that the strength of hope will spark countless initiatives, rallying hundreds and thousands of hands to overcome this crisis.”

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

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Brief scores:

Manchester City 3

Aguero 1', 44', 61'

Arsenal ​​​​​1

Koscielny 11'

Man of the match: Sergio Aguero (Manchester City)

The years Ramadan fell in May

1987

1954

1921

1888

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Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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Empty Words

By Mario Levrero  

(Coffee House Press)
 

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The specs

Engine: 2.0-litre 4cyl turbo

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MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

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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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COMPANY%20PROFILE
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Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

THE DETAILS

Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5

Updated: September 18, 2024, 3:38 PM