University of The Bahamas and Bahamas First General Insurance Company Sign Agreement to Establish New $40,000 Scholarship Award
9thDecember, 2021
Nassau, THE BAHAMAS — Two of the most iconic and authentically Bahamian institutions—University of The Bahamas (UB) and Bahamas First General Insurance Company Ltd. (BFG)—have joined forces to create a comprehensive new pathway to tertiary education via the establishment of full ride scholarship for qualified university students pursuing careers in business, information technology, engineering, eco-tourism, and sustainability.
On Tuesday, 7thDecember, UB and (BFG) etched a memorandum of understanding (MOU) for the establishment of the Bahamas First Insurance Emerging Leaders Scholarship Award, a merit-based, four-year, $40,000 scholarship applicable to students who choose undergraduate studies in Business Administration; Business Management; Information Technology; Mathematics; Eco-Tourism; Sustainability; or Engineering.
Pursuant to the MOU, eligible students will also receive leadership development training, out of the classroom scholarly experiences, and co-curricular exposure that will contribute to their growth and success. BFG has also agreed to provide internship opportunities to allow students to engage in the professional realm while they are accomplishing their academic pursuits. All students have to do is maintain a 3.0 grade point average (GPA) and above to qualify.
“It is said that ‘Education is for improving the lives of others and leaving your community and world better than you found it,’” said Bahamas First Holdings Limited Group President & CEO Mr. Patrick Ward. “The Bahamas First Insurance Emerging Leaders Scholarship is a comprehensive four-year award that will unlock the door to education for high school seniors who possess the potential to succeed but struggle with doubts about their next steps because of their family’s financial insecurity.
“Our pledge today, which is backed by an annual contribution of $10,000, is to help the door to education swing open wider than it ever has before and usher qualified students into the leading-edge disciplines of business, information technology, eco-tourism, sustainability, and engineering, so that they can become independent thinkers and creative problem-solvers who will transform their communities and this country.”
UB President Dr. Rodney D. Smith said donations like the one BFG so graciously made is critically important to the University’s ability to provide access to quality tertiary education for all prospective students.
“The donation of scholarship funds supports the University’s mission to ‘drive national development through teaching, research and innovation and service to the community’,” said Dr. Smith. “Providing greater access to tertiary education is also a part of the mission of the University, and donations like this one significantly help to increase access.”
Mr. Dino Hernandez, Vice President of Institutional Advancement and Alumni Affairs agreed.
“University of The Bahamas remains grateful to our corporate partners, donors, and friends, who continue to give for the betterment of our bright and talented students,” said Mr. Hernandez. “This $40,000 financial commitment demonstrates not only Bahamas First Insurance Group’s support of the university but also the potential of our students to make a profound and enduring impact on our nation and the world.”
As noted by UB Executive Director of Corporate and Foundation Relations Ms. Kandice Eldon, BFG has a stellar record of partnership with UB, most notably as a consistent corporate sponsor for UBFIT—one of UB’s staple community building and fundraising initiatives—for several years to date. While it isn’t necessarily surprising to see this kind of commitment from BFG, the gesture is nonetheless greatly appreciated, she said.
“We are so thankful for this relationship that is thriving and growing, and our students will benefit from,” said Ms. Eldon.
Mr. Ward added, “I firmly believe that this signing is an important event in the history of our company that will continue and deepen the partnership and close cooperation that has existed between Bahamas First and the University over the years. And I am both honored and grateful to have been a part of this day in history.”
Office of University Relations
University of The Bahamas
2ndFloor, Michael H. Eldon Complex
Oakes Field Campus
P.O. Box N-4912
Nassau, The Bahamas
Tel: (242) 302-4355/4354/4365
Chartered on 10th November 2016, University of The Bahamas (UB) is a beacon for national transformation. Approximately 5,000 students are enrolled in the University of The Bahamas system which includes campuses and centres on New Providence, Grand Bahama, San Salvador and Abaco, as well as UB online education. UB’s diverse academic programmes, research engagements, athletics and leadership development experiences equip our students to become global citizens in a dynamic world.