Education: An Imperative Tool for National Development.

Babban Gona educationn

Education can be described as a process of development through the careful dissemination of knowledge. By educating an individual, the goal is to pass on some desirable information, skills, attitudes, interests, and frames of mind best for personal development.

Etymologically, the term ‘education’, stems from the Latin word Educare, which means to train or bring out. Given that the term education is not just a concept, but a process that does not come to an end – an activity that goes on through a person’s lifetime with no definitive timeframe, the idea of education encompasses a lot more than merely training. It leaves a formative effect on the minds of individuals which leaves them enlightened and improved than they were.

According to the UNESCO Global Education Monitoring Report and Education Commission’s Learning Generation Report:

  • 171 million people could be lifted out of extreme poverty if all children left school with basic reading skills. That’s equivalent to a 12% drop in the world total.
  • Education increases earnings by roughly 10% per additional year of schooling.
  • If workers from poor and rich backgrounds received the same education, the disparity between the two in working poverty could decrease by 39%.
  • Educational attainment explains about half of the difference in growth rates between East Asia and Sub-Saharan Africa between 1965 and 2010.
  • In 2050, GDP per capita in low-income countries would be almost 70% lower than it would be if all children were learning.

It is without a doubt highly imperative that we pay attention to education, especially for the younger generation. At Babban Gona, our goal to reduce the rate of unemployment in Nigeria is being tackled on different fronts, education being one of them. 

In line with SDG 4 (Quality education), we have continued to provide scholarships to the children of our TGEs. In 2020, we granted 129 scholarships to the wards of our smallholder farmer members to finance their secondary school education for a period of 3 years. In 2021, we also granted more scholarships to 108 the wards of our farmer members for a period of 3 years.

Going forward, Babban Gona intends to expand the scholarships to participants of the WEDI program and Field Officers.

With the support of our partners, we recently granted 114 scholarships to the wards of our farmer members to finance their secondary school education for a period of 3 years.

In an interview with a parent of one of the 2020 scholarship recipients, he expressed his joy saying “I felt so happy to an extent that I shed tears when I learned that I had been successful with the scholarship. The reason being that I had a daughter that was schooling at Jos and because I could not afford to pay for all my children’s school fees she was sent back home but now BG has given me hope that my daughter will surely have a better education.”  

For Mallam Murtala, he believes that the scholarship would enhance quality education, in his words “Because of the development BG had brought to us, the education of our children had started developing, but with this extra scholarship opportunity we are more grateful to BG  for the tremendous effort towards developing our lives.”

Anthonia Mark, another 2020 scholarship recipient is grateful that she can pursue her dreams; in her words “the scholarship will help my family to pay school fees for my younger ones comfortably especially now that my own schooling had been taken care of by BG”

Now, Nasiru can pursue his dream to be an Agriculturist; this will enable him to improve my father’s livelihood and also to be part of the BG family. Saidu can become a Lawyer to help her community and to prevent the poor from being cheated. Nuhu can achieve his dreams of becoming a Medical Doctor to help his community and his family members.

In line with the Sustainable Development Goals, we believe that education is an imperative tool for development in every nation. Everyone deserves an equal chance at achieving their dreams and with the little resources available it can be difficult to do this. Babban Gona is grateful for the support and unrelenting efforts of our partners and investors in helping to improve the living standards of our farmer members on all fronts, thereby staying true to our mantra “Better your life”.

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Frank Altman

Non-Executive Director

Pioneer of secondary markets for community development and $3.5B+ in managed funding.

Frank Altman is the founder and first CEO of the Community Reinvestment Fund (CRF), USAwhere he pioneered secondary markets for economic development loans. Under his leadership, CRF funded over $3.5 billion in loans across 50 U.S. states. He was instrumental in designing the federal New Markets Tax Credit and is an advisor to the Federal Reserve Bank of San Francisco.

Altman is an Ashoka Senior Fellow and the author of A New Capitalism: Creating A Just Economy That Works For All. He brings global expertise in risk management and capital structures to Babban Gona.

Michael Jainzik

Independent Non-Executive Director

Michael Jainzik works as an independent consultant and brings his extensive expertise in the areas of agricultural finance, international investments, risk management and corporate governance. He is currently based in Rome, Italy.
 
From 2001 to 2011, Michael worked as an investment professional at KfW Development Bank, focusing on international debt financing and equity investments in investment funds and banking institutions, mainly in the areas of agricultural finance and microfinance. From 2011 to 2015 he worked as Director of KfW’s office in Windhoek. In this role, he helped manage and develop KfW’s EUR 250 million portfolio in Namibia. From 2015 to 2017, he took on the position of Head of Corporate Development at Access Microfinance Holding, where he was responsible for structuring and leading a merger process between Access Holding and another company.
 
Prior to joining Babban Gona, Michael served as a non-executive director in Access Bank Azerbaijan (2006-2011, Chairman), Belarusian Bank for Small Business (2008-2011), Rural Impulse Fund II Luxemburg (2010-2011) and AB Bank Zambia (2011-2016).
 
Michael studied economics and management at the Universities of Lüneburg and Witten/Herdecke (Germany) and at ETEA – Universidad Loyola in Córdoba (Spain) and holds a Master’s degree in economics and management.

Alhaji Bello Maccido

Board Chairman

Over 32 years of executive leadership in corporate and investment banking.

Alhaji Bello Maccido is a distinguished leader in the Nigerian financial services sector. He currently serves as the Chairman of FBN Merchant Bank Ltd. and has previously held board positions at FBN Holdings Plc, First Bank of Nigeria Plc, and Legacy Pension Manager Limited.

He holds the traditional title of “Wakilin Sokoto” and is a Fellow of both the Chartered Institute of Stockbrokers and the Chartered Institute of Bankers of Nigeria.

Alhaji Maccido’s educational background includes an LL.B from Ahmadu Bello University and an MBA from Wayne State University. He is a Barrister at Law (BL) of the Supreme Court of Nigeria and an alumnus of executive programs at Harvard Business School and IMD Lausanne.

Muhammad Sanusi, CON

Chairman of the Board

His Highness Muhammad Sanusi was appointed the 10th Governor and Chairman of the Board, Central Bank of Nigeria on 3 June 2009. He earned Bachelor’s and Master’s degrees in Economics from the Ahmadu Bello University, Zaria, and also has a first-class degree in Sharia and Islamic Studies from the African International University, Khartoum, Sudan.
 
From working as a lecturer at the Ahmadu Bello University, where he taught Economics, he joined the banking industry in 1985, and by January 2009 had risen to General Manager and Group Managing Director of First Bank of Nigeria PLC, Nigeria’s oldest and biggest bank. Mallam Sanusi has been conferred with a National Award of Commander of the Order of the Niger (CON) by the President of the Federal Republic of Nigeria and has also been awarded the “Global Central Bank Governor for 2010” by The Banker Magazine, a publication of the Financial Times.
 
He was also voted Central Bank Governor of the Year for Sub-Saharan Africa 2009 (an award he won again in 2010) by Emerging Markets, a publication of Euromoney Institutional Investors. In 2011, Mr. Sanusi was named Forbes Africa Person of the Year for 2011. He was also listed by TIME Magazine as one of the 100 most influential people in the world. Kola Masha (Managing Director) Prior to Babban Gona, Kola was a Managing Director and CEO of a major subsidiary in the Notore.

Lola Masha

Non-Executive Director

Dr. Lola Masha is a seasoned technology leader with over 15 years of experience at the intersection of mobility, technology, and agriculture. She currently serves as a Partner at Antler, a global early-stage venture capital firm. Previously, she was the Regional General Manager for North, East, and West Africa at Bolt, overseeing strategic operations in a high-growth mobility sector.

Her career includes leadership roles as Director of Trust and Safety at OLX Group (overseeing 30+ markets) and Country Manager for OLX Nigeria. She was also one of the earliest employees at Google Sub-Saharan Africa. Dr. Masha holds a PhD in Chemical Engineering from the University of California, Berkeley, and a B.Sc. from the University of Virginia.

Kola Masha

Managing Director

First leader of a for-profit social enterprise to win the Skoll Award for Social Entrepreneurship.

Prior to co-founding Babban Gona, Kola was CEO of a subsidiary in the Notore Group, where he led a commercial strategy to sell one million tons of fertilizer and raised $130 million in equity.

He has held leadership roles at GE and Abiomed and served as a Senior Advisor to the Nigerian Minister of Agriculture.

Under his leadership, Babban Gona became the first for-profit social enterprise to win the prestigious Skoll Award for Social Entrepreneurship, recognizing the organization’s innovative approach to transforming smallholder farming in Nigeria.

He holds an MBA with Honors from Harvard and a Master’s in Mechanical Engineering from MIT.

Kola Masha

 

Prior to Babban Gona, Kola was a Managing Director and CEO of a major subsidiary in the Notore Group, one of Nigeria’s leading agricultural conglomerates, where he raised US$24 Million to develop an integrated agricultural trading, production and processing business.

Furthermore, he led the development and execution of Notore’s commercial strategy across West and Central Africa, preparing the company to sell one million tons of fertilizer and establish a modern seed business.

He led the effort to raise $130 million in equity and the restructuring of $360 Million in debt. Kola brings significant leadership experience in venture capital, corporate finance, business development, marketing and operations, across four continents with multiple global companies, including GE, Notore and Abiomed. In addition, Kola brings extensive public sector experience as Senior Advisor to the Nigerian Minister of Agriculture.

In recognition for his leadership in driving positive change on the African Continent, he has received several global awards including the prestigious Eisenhower Fellowship, a leading leadership institute led by General Collin Powell and appointed to the Board of the African Enterprise Challenge Fund, a $250 Million fund that awards grants and repayable grants to private sector companies to support innovative business ideas in agriculture, agribusiness, renewable energy, adaptation to climate change and access to information and financial services. Kola holds an MBA (Honors) from Harvard and a Masters in Mechanical Engineering from the Massachusetts Institute of Technology.