Business

Sagicor invests $15 million into its foundation's Adopt-A-School programme

Wednesday, November 06, 2019

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Sagicor through its foundation arm will be investing $15 million into the 2019/2020 iteration of its flagship educational adopt-a-school initiative. The investment, which is $3 million more than that of last year, will assist three early childhood institutions (ECI) to come closer in achieving the Early Childhood Commission's (ECC) standards certification.

Speaking at the launch of the Adopt-A-School programme held at Hope Gardens in Kingston yesterday, Christopher Zacca, president and chief executive officer (CEO) of the Sagicor Group, expressed pleasure at his company's continued philanthropic contribution.

“We invest up to $100 million in our foundation annually, the bulk of which we raise through our Sigma run, through which we raised $52 million last year. Sagicor Group funds all of the activities for the foundation including all the expenses of the Sigma run. In terms of this programme, the $15 million is to be spread across all three schools. The programme is one that is central to the foundation; it's been one of my joys to go and see what we transform these schools into; the difference before and after is huge, really heartwarming,” he said, in speaking with the Jamaica Observer.

Zacca reiterated the commitment of the company, through its corporate social responsibility (CSR) initiatives in continuing to impact lives and contribute to the development of the education sector. He addressed the importance of companies having a foundational arm, not only to provide structure to its CSR mechanism and fulfil the mandate of the organisation, but also to give much-needed financial support to the State.

“Without private sector CSR, the society could not function the way it does because the state does not really have the resources to take care of the citizens who are underprivileged, without resources and marginalised — the sick and elderly. There is so much demand for resources that without the private sector the State just couldn't manage. For these reasons the work of foundations is very important,” he told the Business Observer.

The recipients of this year's funding are Petersville Early Childhood from Westmoreland, Prime Time Early Childhood from Clarendon and St Peter Claver Infant School from St Andrew. Through the sponsorship of the Sagicor Foundation, these institutions will be provided with much-needed infrastructural and aesthetic upgrades to the school's environs. Over the years the project is said to have helped a range of institutions to become ECC standards compliant.

Chairman of the Sagicor Foundation R Danny Williams added that the investment of the $15 million will be spent on renovation work as well as to host a series of engagement activities at the schools throughout the year.

“We are focused on contributing to the creation of a sustainable learning environment for our children and through this partnership, we look forward to the impact that can be made on these young minds, as well as on the community at large,” he said.


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