AIICO Partners EdFin MFB on Education

February 10, 2020

81 2 minutes read

Mr. Gbenga Ilori, Head, Non-Life Retail Business, AIICO Insurance Plc.

AIICO Insurance Plc., a leading insurer in Nigeria, has partnered with EdFin Microfinance Bank (MFB) to provide support on sustainable education in Nigeria.

Over 400 schools were represented at EdFin’s Stakeholder Forum on Education which held recently in Lagos.

A statement today by Head, Strategic Marketing & Communications Department, Mr. Segun Olalandu, said participants at the event which included school owners, PTA representatives among others, deliberated on issues affecting education with the aim of proffering solutions for the growth of the sector and sustainable future for the Nigerian students.

Mrs. Bunmi Lawson, MD/CEO, EdFin MfB

The event, the statement added featured several information sessions such as financial literacy training which was facilitated by Fate Foundation followed by an exhaustive interactive session between the company’s Board of Directors and all the participants.

Other sessions, it stated, included live demos on Google Bolo (a speech-based reading tutor app to help children in rural regions with the reading skills) by Google Nigeria and Wowbii Tap – a world-class interactive board preloaded with intelligent educational content to help teachers improve the quality of instruction in schools and enhance subject-matter understanding among students/pupils.

In her remarks, according to the statement , Mrs. Bunmi Lawson, MD/CEO, EdFin MfB, expressed her heartfelt gratitude to the major sponsors of the event – AIICO Insurance (who are providing life insurance for all students in the bank’s network of schools) and FlexiSAF (a software development company provided school management system for schools) – for their support towards making the event a success.

“In demonstration of its passionate commitment for education, AIICO has several innovative product offerings targeted at risk protection for sustainable education of the Nigerian child.

“According to Mr. Olusola Ajayi, Executive Director and Head of Retail Business at AIICO, “Education is a key area of focus in the company’s Corporate Responsibility and Sustainability function. We contribute our quota to the development of education through diverse initiatives and form strategic alliances with relevant stakeholders like EdFin to meet our objectives.”

“The partnership with EdFin Microfinance Bank is strategic, given their niche, their reach and positioning within the Nigerian educational sector. Founded in collaboration with Gray Matter Capital (GMC) USA; a US-based impact investor concerned with improving the quality of education for underserved children in developing countries, EdFin was birthed out of the need to improve the quality of education in Nigeria.

“The bank which is dedicated solely to funding the education eco-space in Nigeria aims to positively disrupt the standard and quality of education in Nigeria, by providing the much-needed financial resources and services to the education sector,” the statement stated.

AIICO Insurance Plc., a leading life insurer in Nigeria, commenced operations in 1963. It provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.