A couple of months ago, the Management of UPSA, through the UPSA Vice Chancellor’s Endowment Fund (VCEF) – which was established to provide the needed support to bright and needy students on their campus, approached Provident Insurance Limited Company (Provident) – one of the oldest and leading insurance companies fulfilling Ghana’s prime objective of significantly underwriting non-life businesses, paying claims promptly and increasing insurance appetite – requesting financial assistance for students at the University of Professional Studies, Accra (UPSA).
In response, Provident, led by Chief Executive Officer Mr. Michael Justice Ashong, made a generous donation of GH¢50,000 to the VCEF last week. While presenting the cheque, Mr. Ashong stated that although the request for donation into the endowment fund came at a time when most companies in the country were battling with the domestic debt exchange programme due to its negative effect on their balance sheets and profit and loss accounts, Provident still found it appropriate and compelling to donate toward this laudable cause to affirm the company’s commitment to corporate social responsibility, supporting education and empowering future generations.
The VCEF plays a crucial role in providing financial assistance to deserving students, ensuring equitable access to quality education. According to Mr. Ashong, it is noteworthy that the impact of such donations/contributions to endowment funds extend beyond the immediate financial aid; as such, endowments are typically structured to generate continual income, allowing the institution to support students in perpetuity. Therefore, by donating to the VCEF today, Provident’s impact will reverberate throughout the years, making a lasting difference in the lives of countless individuals.
Vice Chancellor Professor Amartey and his team expressed gratitude to Provident for the generous donation, adding that the donation of GH¢50,000 to VCEF reflects the company’s dedication to education and making a lasting impact. According to the Vice Chancellor, “this philanthropic effort in providing equitable access to education and personal growth ought to be commended and serves as an inspiration for other companies and individuals. With continued support, UPSA can continue to nurture and empower bright minds, ultimately contributing to the progress of our society as a whole.
Provident Insurance Limited Company is a private limited liability company established in 1982 and provides non-life insurance cover for its numerous clients through its digital channels, 14 branches and over 200 Agents and Brokers throughout the country. Provident is noted for its prompt claims payments, which includes same day claims processing and payments. As the company marks its 40th anniversary, it is poised more than ever in its quest to remain visible in the market and become the insurer of choice in the non-life insurance business in Ghana.
