Prosperity Group’s Profit Share to Boost Social Upliftment

Bertus Struwig of the Prosperity Group announced the launch of the Prosperity Goodwill Society on November 15, 2014. According to Struwig the group will allocate a percentage of administration income from medical aid funds under Prosperity’s administration, to the Goodwill Society. These funds will be used to support social and economic upliftment projects such as health care and education amongst the group’s members and families and the community at large, through the Goodwill Society.

The Prosperity Group currently administers Renaissance Health Medical Aid Fund and the medical aid funds of Namdeb, Napotel and RCC. Prosperity Life and E-Med Rescue 24 will also participate in the scheme.

Speaking about distribution of funds allocated to the Goodwill Society, Struwig said that member representatives will nominate and appoint a Board of Trustees that will act as a management committee.

“We believe that by cooperating with our members who represent more than 100 000 beneficiaries, we will get a more accurate view of areas of pressing need, and will be better able to allocate much needed financial resources where they are most urgently needed,” Struwig said.

“The Society will have eyes and ears in civil society. Many large companies have the best intent, but, as corporate entities not individuals are challenged by the need to identify projects which make a difference. Our choice of cooperation with our member representatives will give the Society the ability to put resources where they are most needed.”

He went on to say that the act of sharing resources for the greater good is a g facet of Namibian culture. “Our partnership with our members enables us to augment a culture of giving and sharing.”

The percentage of revenue that is allocated by Prosperity to the Society will have a zero effect on clients, but will have a combined impact to make a concrete difference in the lives of those that will be helped through this principal of social solidarity, said Struwig

The principal of goodwill societies initiated by groups of individuals with a common interest is not new, but the Prosperity Goodwill Society will be a first for Namibia to establish as a corporate member initiative.

“Social challenges confront our members and their families daily. We have seen initiatives of shorter duration linked to consumer purchases, but we are planning for the long-term impact of this initiative to be able to give back. We hope that other organisations will follow us in this, and find the benefit in cooperating with key stakeholders and customers in the long term to make a difference in the lives of our people,” he said.

Asked about the form of the Goodwill Society, Struwig said it is a social enterprise that applies commercial strategies to maximize improvements in human well-being, rather than maximising profits for external shareholders. He said it has therefore been structured as a non-profit entity.

Struwig went on to say that the Prosperity Group will not only be the main “donor” to the Goodwill Society but that the group willfurther subsidise it with administrative resources, management and governance capacity.

Source : New Era