Enwealth Financial Services Partners with Kenindia to launch Uzima Trust Fund to help ‘parent’ orphans
TO LAUNCH UZIMA TRUST FUND TO HELP ‘PARENT’ ORPHANS
NAIROBI, Kenya, December, 2020
Enwealth Financial Services Limited has partnered with Kenindia Assurance Company Limited to launch the Uzima Trust Fund. This fund will safeguard and invest benefits due to dependants such as orphans who are faced with the challenge of financial sustainability after the demise of a parent or guardian.
In the unfortunate event of death of our loved ones, it is not always guaranteed that beneficiaries, especially minors will have their entitlements prudently managed by the appointed guardians to sustain their future financial needs. According to Mr Simon Wafubwa, Managing Director of Enwealth Financial Services, “Uzima Trust Fund is a product of hope and life in the wake of death. Often when a principal member passes on, the dependants are faced with hopelessness in terms of financial wellbeing and sustainability. Uzima Trust Funds aims at safeguarding beneficiaries funds from cannibalism by guardians who leave the beneficiaries exposed, especially children. As a Professional Fund Administrator, Enwealth Financial Services will ensure the funds reach the intended beneficiaries and achieve their future life objectives. The fund will support orphans and children’s upkeep such as school fees, uniforms, medical expenses of the beneficiaries in the unfortunate incident of death of a principal member.”
At the launch event, Kenindia Life Assurance Company received a cheque of Ksh.51 million from Enwealth Financial Services. Speaking at the event, Mr Bhawani Sharma said “as partners in the Uzima Trust Fund, Kenindia Life Assurance is here to provide value addition to the children in this country. We will safeguard and grow the funds by obtaining the best investment rates on behalf of beneficiaries and to ensure safety and stability of the invested fund and guarantee that the children’s well being remains properly maintained.”
Kenindia Life Assurance Company, is known to be a solid and reputable superior insurance organisation and the best performing Approved Issuer in the industry with a guaranteed consistent annual investment interest.
There are multi-faceted approaches towards handling of trust funds. Mr Wafubwa gave assurance that, “As Fund Administrators, we have expertise in different sectors and are able to handle the requisite due diligence for the trust fund, offer psychosocial support to the families and provide reliable and transparent handling of the money. We will pre-qualify suppliers and provide close to 20% discount on school text books and stationery and also partner with highly discounted medical schemes, on behalf of the beneficiaris so as to make funds more efficient.