There are two things that we in UAP Life do – first, we provide savings solutions that enable our clients achieve their financial aspirations and secondly, we ensure that the lifestyles of families are maintained or are not affected by unfortunate events such as sicknesses, accident, loss of income or worse untimely death of a breadwinner.
To underline our commitment to the above two roles, we continue to provide innovative solutions that allow our esteemed customers save for whatever goals they have in life. Let me tell a little story of how we achieve this. When FIFA announced that the 2010 World Cup was coming to Africa for the first time in humankind’s history, UAP developed a product to enable Africans seize the historic moment and travel to see the world cup in South Africa, a lifetime opportunity to lovers of the beautiful game. We had a primary school teacher who diligently saved Kshs. 2,500 for 5 years and managed to accumulate enough funds for a return air ticket, 3 nights hotel accommodation in a 3 star hotel in Johannesburg and watched one world cup match – a feat that many better financially endowed individuals struggled to achieve because of lack of forward financial planning. Through our solution, the teacher not only achieved a dream of his life, watching world cup match live but also travelled out of the country for the first time.
In this inaugural edition, allow me to engage with you on education financing in Kenya. Parents and guardians finance education through different modes – loans, savings, disposal of assets such as cattle or land, bursaries, donations, etc.
The provision of widely spread education and training opportunities has been a long-standing objective of the Government of Kenya. Since Independence, the Government has sought to address the challenges facing the education sector through a range of policy initiatives, often with mixed results. Nevertheless, a major focus has been the attainment of Universal Primary Education (UPE) and the key concerns of achieving greater access, participation, equity, quality and relevance. Provision of advance education still remains the responsibility of individuals.
At household level, there is no gainsaying the importance families place on education, not just in terms of access but quality too. Even though families realise the importance of a good education, not many plan for financing the same and in some instances leave the destiny of their loved ones to fate and chance.
Our response, as UAP Life, to this challenge has been and will continue to be through innovation of products that enable parents and guardians save in an affordable but disciplined manner over a period of time and guarantee them sufficient funds to educate their children and those they support. Apart from product innovation, we also commit ourselves to bring to the public arena advice on the essence of forward planning and saving for a child’s education.
Our Elimika Education Savings Plan enables children’s’ dream to come true through education in areas of their choice. It is flexible and guarantees payment of school fees amount selected by parents and/or guardians.
The theme of this edition is getting started and I welcome you to enjoy the reading and get started towards your financial aspiration