[Kenya] Madison Group launches savings scheme for higher education

Madison Group has unveiled Madison UniPlan, a savings scheme for financing university and college education.

"We are proud to be pacesetters in critical development sectors such as education and it is in our best interest to equip Kenyans with the ability to help their children attain the highest level of education,” the insurance company chairman Samuel Ngaruiya said.

Education Cabinet Secretary Fred Matiang'i, in a speech read by the CEO of Commission for University Education David Some, said the timing is good as it comes at a time when the national education curriculum is being reviewed to improve the quality of education.

“Madison UniPlan is unique in that it is the first product from the insurance sector to cater for higher education. It’s a move that encourages parents and guardians to instill a formal savings culture for their children’s education," Matiang'i said.

Madison Uniplan will have a specific saving period between 5 to 15 years. It targets students both in high school and university. According to the chairman of the group, the plan will also be open to other older individuals. The savings plan will cater for tuition fees, accommodation fees, living fees and other expenses upon its maturity. Madison Uniplan will go along way in securing the future of children even when their parents are gone.

www.madison.co.ke