Nonso Okpala, group managing director and CEO VFD Group Limited has announced the launch of the Chude and Ego Foundation to transform low-income communities.
Okpala also added the foundation was launched in honour of his parents – Late Nze Chude O. Okpala, and Theresa Nwakego Okpala.
According to him, the foundation is launched with the sole aim to transform low-income communities by addressing social challenges, providing free world-class education to children, and healthcare interventions amongst other purposive initiatives.
“Although it’s supposed to be a fundamental right for all, so many children in Nigeria and in Africa will never get an education; while this is sad for families, it is particularly abysmal for the country and the continent – the amount of talent eroded and potential economic loss,” he said.
“These individuals, if given the right opportunities, could become the catalyst for the new African Renaissance, you just never know. What we intend to do with the Chude and Ego Foundation, is to provide these opportunities,” he added.
The first project, a transformative free secondary boarding school for underprivileged children with high potential will kick off in Uga Community, Anambra State in September 2022.
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Prospective students will undergo a rigorous evaluation and selection process to assess their potential. The school will be benchmarked against international standards similar to schools like Children’s International School, Lekki and Saint Savior’s Ikoyi, Lagos amongst others.
Speaking on what the foundation will provide to support low income communities, Okpala said that the foundation will provide education that is comparable to the best on the continent broadening the horizon of its students by leveraging its network to provide varied social experiences, targeted internship and placement opportunities that inspires and expands their worldview outside of their community;
Also, the foundation will partner with innovative companies that are within the network of the foundation and the Okpala family and sponsors of the Foundation to provide work placement opportunities, and prepare and sponsor them for further education in the short run but ultimately, build a university to continue the intervention programme of the Foundation; and track and document the individual progress of students and instill the right type of attitude and culture that will enable them to pay forward to the society and the next generation.
To ensure sustainability, the Foundation and School’s activities will be financed through an endowment strategy that would aid the projects to be self-funding and self-reliant. Founders and other benefactors will provide two forms of financial support, ‘operational support’ and ‘Endowment contributions.’ However, it is noteworthy that the endowment contributions will never be spent; the operations funds will applied judiciously to the day-to-day running of the school.
