NEWBURYPORT, MA -- (Marketwired) -- 06/12/13 -- Trunity Holdings, Inc. (OTCBB: TNTY) (OTCQB: TNTY) ("Trunity"), the creator of the education%2f">Trunity eLearning Platform that empowers education%2f">higher education, K-12, corporate enterprises and government agencies worldwide to create, manage and share knowledge, today announced that it has entered a Memorandum of Understanding ("MOU") with its new institutional investor, Pan-African Investment Company, LLC ("PIC"), whereby PIC will assist with the introduction and marketing of the Trunity eLearning Platform in African nations seeking to improve the quality of education for their citizens.
Pursuant to the terms and conditions of the MOU, PIC has been granted a seven-year exclusive right to introduce Trunity's products and services to the governments of each of the countries on the African continent with a goal of improving, modernizing and providing these countries with a sustainable education platform.
According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), 10 million children drop out of primary school every year in sub-Saharan Africa. Even those fortunate enough to complete primary school often leave with literacy and numeracy skills far below their potential. In addition, there is a major shortage of trained teachers. As a result, in order to ensure that every child has access to quality education by 2015, sub-Saharan Africa will need to recruit an estimated 350,000 new teachers every year. Further exacerbating the strain on education systems in Africa is the fact that the continent has the highest concentration of illiterate adults in the world.
Recognizing that education is the key to human development and economic growth, dozens of countries in Africa have embarked on new government-backed initiatives to integrate learning technology into education and training. In fact, with very few exceptions, most of these countries now have official government policies on the use of technology in education, with numerous national digitization projects being funded directly by these central governments with and without the aid of external donors. Global research firm Ambient Insight reports that the growth rates in Africa for custom content development services, cloud-based authoring tools and learning platforms and installed authoring tools and learning platforms are currently the highest in the world.
Dana Reed, Co-CEO of PIC and a member of Trunity's Board of Directors, stated, "Education is one of the most important investments a country can make in its people and its future, as it fuels opportunities for achieving economic growth and prosperity and provides the tools and skills necessary to improve quality of life. Consequently, we are anxious to begin introducing Trunity and its fully integrated Trunity eLearning Platform to African countries as we believe they can have a profound impact on the delivery and exchange of knowledge in these countries." Trunity CEO Terry Anderton stated, "We are very excited to work closely with PIC in democratizing education across Africa. This is a long-term commitment by both parties. Moreover, Trunity plans to establish a significant local presence on the African continent to support our efforts to transform education there."
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- General Motors Names Mary Barra as First Female CEO
- Cold Dis-comfort: Antarctica Set Record of -135.8
- Obama Delivers Speech at Mandela Memorial: Transcript
- Uruguay Gets Ready for Legal Marijuana
- Oldaker Takes Center Stage at Entrepreneur Awards
- Slow Week Ahead of December FOMC Meeting
- Hispanics Seek to Grow School Board Members
- Russia Says Nyet to Canada North Pole Claim
- 'Knockout Game': Myth or Menace?