In its quest to continuously contribute to community and sports development the Madison Financial Services PLC group of Companies has donated Tennis Equipment to the Lusaka Tennis Club Youth Development programme that is aimed at offering developing Tennis skills among the Zambian Youth by offering them an opportunity to learn and enjoy tennis in a safe and fun environment at no cost.
During the official handover ceremony, Mrs Mercedes Mwansa, Managing Director of MAMCo, a subsidiary of the LSA Group said the donation took into account the Madison Groups CSR programme that recognizes that its existence is made possible by the societies in which it operates and therefore must contribute to the development of these communities.
“Let me take this opportunity to commend the Lusaka Tennis Club for the work that they are undertaking in developing Tennis among our Youths. We see this as a step in the right direction that offers a unique opportunity for youth to develop their skills, build confidence and foster a new generation of Zambian Tennis players. We know that such a programme comes at a cost and as Madison Financial Services PLC, we are proud to sponsor this programme,” She said.
The donation from the Madison Financial Services PLC group of companies included 15 Tennis Rackets, 180 Tennis Balls, and 15 pairs of Tennis shoes amounting to K15, 000.
In receiving the donation Soren Johannsen, Vice Chairperson of the Lusaka Club Tennis Section commended Madison Financial Services PLC for coming on board to support the Open Court Youth Development programme at the Lusaka Club Tennis section.
‘We want to thank Madison for coming in at a crucial stage for our programme. We offer free Tennis lessons to pupils from public schools. We pick them up from school, we offer them Tennis Rackets and Shoes in an attempt to get their interest and hopefully create a new generation of Tennis players.’
And Head coach of the programme Mr Enock Daka said he was excited to receive the donation knowing that his team will ensure the donation was put to good use in the programme. He applauded the Madison group of Companies for developing sports through its donation.
‘I believe this is just the beginning and this relationship will grow from strength to strength and ensure that Tennis grows to greater heights’ he said.
The hand over was made on behalf of Madison General Insurance Company Zambia Limited, Madison Life Insurance Company Zambia Limited, Madison Asset Management Company Limited and Madison Finance Company Limited.
Good gesture Madison. However, when I read that the donation is made on behalf of the 3-4 companies in the group, I can help but wonder about the amount involved. Only K15,000 from such a large portfolio of companies? Anyway, this is definitely better than nothing!
K15,000 is a big money being donated by a group that has overstretched and borrowed heavily to build a castle of cards.
Madison group is insolvent. It owes billions of Kwacha to banks and overseas lenders. It lent to insolvent organisations of the likes of Focus Financial. It is surviving on internal borrowings from MLife and Madison General to keep its Finance and Asset Management companies afloat.
It has borrowed billions from other insurance and reinsurance companies operating in Zambia and has been failing to pay the amounts on maturities.
A repeat of Meridian Bank is on the horizon.
Be the first to take and run.