Business News of Wednesday, 2 August 2017
Source: Afrakoma Obeng-Osei
At a press conference held in the offices of UMB Bank, UMB Bank and UMB Capital launched UMB Foundation, an independent philanthropic entity organized to streamline the corporate social responsibility initiatives of UMB Bank and UMB Capital.
To achieve its vision of “creating meaningful and sustainable social and civic impact”, UMB Foundation aims to focus on supporting initiatives in education, health and projects that celebrate and promote Ghanaian heritage and culture.
Speaking at the press conference that was attended by members of the media, representatives from UMB Bank, representatives from UMB Capital, the Board of Directors of UMB Foundation and management of UMB Foundation; Mrs. Grace Amey-Obeng the Board Chairperson, stated that “from the perspective of its corporate sponsors, UMB Bank and UMB Capital, UMB Foundation was created to give back to the beautiful nation of Ghana that has contributed to the success of both UMB Bank and UMB Capital.”
She further commented that “corporate philanthropy through the creation of foundations is an effective, strategic and sustainable method of providing necessary assistance in key areas of need.”
Chief Executive Officer of UMB Foundation, Ms. Yvonne Botchey, provided an overview of the structure of UMB Foundation and summarized the strategic objectives of each focus area.
Ms. Botchey noted that UMB Foundation will be announcing its first key projects in each focus area and she commented that “we expect these projects to make a meaningful difference in the areas of education, health and the celebration and promotion of Ghanaian heritage and culture.”
In her overview, Ms. Botchey highlighted that under each strategic focus area, UMB Foundation seeks to ensure the following:
Education (initial projects in Volta region)
• To improve access to education for economically disadvantaged and/or special needs children through scholarship programs;
• To upgrade school facilities, supplies and infrastructure in neglected communities; and
• To provide teacher motivation and capacity building programs.
Health(initial projects in Northern and Upper West regions)
• To assist in providing easy and quick access to quality health care, especially for women and children;
• To support the provision of improved medical facilities, supplies and resources; and
• To assist those without financial means in the payment of medical treatment and services for critical health conditions.
Celebration of Ghanaian Heritage and Culture (initial projects in Greater Accra and Ashanti regions)
• To support the restoration and maintenance of cultural sites, monuments and buildings; and
• To support the establishment of museums and libraries to preserve historical artefacts, information and to serve as a place of learning.
Ms. Botchey further noted that while the head office of UMB Foundation will be based in Accra, UMB Foundation will sponsor projects throughout Ghana over time. More specifically, she noted that initial projects in health will target the Northern and Upper West regions, while education projects will focus on the Volta region. The initial projects in the third focus area of celebration and promotion of Ghanaian heritage and culture will be organized in the Greater Accra and Ashanti regions.
UMB Foundation is governed by an independent four member Board of Directors that are supported by sub-committees tasked to implement activities in each key focus area.