Hollard Insurance Ghana Encourages CSR

By Cecil MENSAH

Hollard Insurance Ghana, a subsidiary of Hollard South Africa, has urged corporate organizations not to disregard the increasing needs of the society in the country.

Hollard maintains there are concerns that corporate organizations are indifferent to the problems of the society in which they operate.

According to Linda Oduro, chief executive officer (CEO) of Hollard Insurance Ghana, the hope is that with the passage of time, more companies and individuals will contribute to the society in diverse ways to address many of the challenges confronting the society.

She was speaking in Accra at last Tuesday's launch of the Hollard 'Street Wise Finance' programme, which is in partnership with the Accra Technical University (ATU).

The company is also supporting the members of Ghana National Association of Garment Makers (GNAGM) with financial knowledge.

One of the key areas of the company's Corporate Social Responsibility (CSR) is to impart knowledge to improve on financial literacy.

The CSR activity of Hollard dubbed "StreetWise Finance programme comes with the aim of delivering basic financial life skills to members of the informal sector.

Hollard believes there is a better way for individuals to manage their money. "We recognized that financial literacy is a major challenge in Ghana," the company said.

CEO Oduro noted that inadequate financial literacy is one more snare in the poverty trap and Hollard Ghana is of the view that, if Ghanaians are given the opportunity to learn basic financial management skills they will be empowered to make better financial decisions that could have a profound impact on the way they choose to live.

The company explained it is aware of how poorly many people including their family members manage their finances and how they prepare inadequately for their retirement.

According to the company, the 'StreetWise' Financial Programme is tailored to address these major concerns of the society by bringing together a cross-section of garment makers to undergo a two-day module based on financial skills, savings, borrowing, insurance and pensions.

On his part, David Setsoafia, the president of GNAGM said the objective to provide practical training opportunities to young people in handling their finances is laudable.

He noted that the training will enable members become sufficient in handling financial stability and future security during after pension.

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