Sterling Bank Plc has signed a Memorandum of Understanding (MoU) with some firms in the education sector to digitise and simplify learning process at all levels of education.
The partnership is also to make the learning solutions affordable for students in primary, secondary and tertiary education levels.
Some of the partners include HR & P Solutions, Netlibrary Nigeria Limited, QC-Investment Limited and the DFID-Deepen Programme.
Speaking at an event held in Lagos, the Executive Director, Finance & Strategy, Sterling Bank, Mr. Abubakar Suleiman, said fundamental to the progress of any nation is education.
He said the objective of the initiative is to transform education and make it ‘sexy’ again for people to want to invest in education and also for start-up companies to see education as where there is a clear demand.
He added: “The idea is to digitise all the educational contents and make it cheaper for the students to afford. We are to develop devices that would provide digital solutions for students.
“We also recognise that the government does not have the resources. There is nowhere in the world where the government provides all the needs of the society. So, it is clear that at some point, financial intermediation is required. We have also looked at our partners and they have the same desire.
“Most of them are trying to take advantage of modern technology, firstly, to make it cheaper and more affordable for people to access education. Secondly, to also make sure that we are providing the relevant education because as things evolve, if you stay with the traditional educational methods, you will not be prepared for the new world.”
He, however, noted that like every partnership, the initiative is not charity. “Sterling Bank is not a charity organisation, neither is any of our partners. The intention is not sustainable unless there is a sound economic logic behind it. So, whatever we are doing is to make sure that five years from now, this partnership is something that is still ongoing.
“It is not one of those projects that works for a year and disappears. So, what we want to do is to bring in a complete set of team to ensure that as far as providing access to content across board, starting from primary schools all the way to tertiary schools, we have the solutions and that they are affordable.”