United General Insurance (UGI) has donated K10 million to the Malawi University of Business and Applied Sciences (MUBAS) in support of the university’s annual Research and Innovation Week, scheduled to take place from 11 to 15 August this year.
Speaking during the cheque presentation on Thursday, UGI Chief Operating Officer McDonald Chibwe said the company decided to support the event because it is committed to promoting innovation and the development of human capital.
“One of our key pillars is innovation, particularly within the financial and insurance sectors. We believe in stimulating innovation from the academic community, as the insights generated can help us improve our product offerings and internal processes,” said Chibwe.
He further highlighted the importance of adapting to the rapidly evolving technological landscape, saying the research week presents an opportunity to explore new ways of doing business.
“We also hope this platform will help us identify fresh talent and innovative ideas that could contribute meaningfully to the advancement of Malawi’s financial sector,” added Chibwe.
MUBAS Head of Research and Innovation, Madalitso Tsakama, expressed gratitude to UGI for the timely support, saying it will go a long way in facilitating the successful implementation of the event.
“We are extremely grateful for this generous contribution. Research and Innovation Week serves as a vital platform for our researchers and innovators to showcase their work. It also allows us as a university to recognize and reward innovation. UGI’s support will help us bring out the best in our participants,” said Tsakama.
Tsakama said they have budgeted K120 million to cover all the expenses for the event.
