CIC Insurance group has launched CIC Foundation that will implement CSR agenda, corporate philanthropy through deliberate creation of positive impact on the society.
Insurer sets aside 0.5% of its profits for
Corporate Social Responsibility has become a big deal across the private sector ad many organizations are coming up with different ways to give back to the communities they operate in.
According to the group, their larger vision is for doing good is the need for social impact, environmental responsibility and the unity of the Kenyan people.
During the launch, Group CEO Tom Gitogo stated that with formation of the Foundation,
“Philanthropy and CSR outreach initiatives by CIC will now be structured and coordinated”. He said.
He added, “CIC Insurance Group had committed 0.5% of its Annual Profit After Tax to fund activities of the Foundation to ensure its sustainability”.
Philip Gichuki, Commissioner of Cooperatives lauded CIC Insurance Group for showing “my brother’s keeper” spirit. He added that the government sees the value corporate social responsibility holds and CIC Foundation work won’t be taken lightly.
Mr. Gichuki also said the government is working to create a greater incentive for companies to take up and invest more in corporate social responsibility.
On his part, CIC Group Chairman Japheth Magomere said CSR has been embraced as a concept unifying companies and the societies within which they operate mainly because corporates have
a role to play in society besides focusing on their bottom-line.
Japtheth Magomere, CIC Insurance Group Chairman observed CSR had the potential of uplifting the living standards of communities”.
The group said education transforms and empower people hence the key pillar of the foundation.
CIC Foundation Chairman Jonah Mutuku concluded that when a bright needy child is given a chance to education, she or he in turn transforms and empowers the community.
The group also said other intervention areas of the Foundation include Youth and Women development, Public Risk Awareness and are partnering with Usalama Watch Initiative, Kenya Police, KCDF, New Life Home Trust and Positive Life Africa on the project.
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or: