LENO Group of Companies Ltd. signs $250K MOU for endowed scholarship at UB
In an act of giving that signifies its belief in higher education, the LENO Group of Companies Ltd. signed an agreement that will make scholarships available in perpetuity for full-time, undergraduate students at the University of The Bahamas (UB).
LENO and UB signed a memorandum of understanding (MOU) for a $250,000 gift to establish the LENO Group of Companies Ltd. Endowed Educational Fund on Thursday, March 7. The MOU paves the way for multi-faceted opportunities to develop competencies and leadership skills in scholars as well as increase their chances for employment upon graduation.
The endowed fund, which supports student scholarships, will provide scholars with internships at LENO and afford opportunities for participation in professional development prior to graduation. Scholars who receive the merit award must also complete at least 16 hours of community engagement via UB’s Student Leadership Emerging Leaders Programme. They will also be considered for entry-level employment at the company and receive international study abroad opportunities.
“The gift of a quarter million dollars over the next 10 years illustrates the deepening of our commitment to the university and showcases our partnership with UB in a more sustainable way. LENO has been fortunate to be able to sponsor a number of varied initiatives in partnership with UB and other organizations focusing upon youth empowerment, financial literacy, sports such as bowling, swimming and two basketball teams,” said Sean K. Longley, founder and president of LENO Group of Companies Ltd.
UB President Dr. Rodney D. Smith was deeply appreciative of the gift from LENO and for the company’s continued partnership with UB.
“The LENO Group of Companies Ltd.’s generous donation demonstrates their belief that an investment in education is one of the smartest investments for the development and success of our entire country,” said Smith.
Remelda Moxey, dean of business hospitality and tourism studies, affirmed the advantages of creating opportunities for real-world work experiences for university students.
“What has also been meaningful, and which is reflected in the MOU with LENO, is the opportunity to engage students in the professional realm while they are accomplishing their academic pursuits. Through this engagement, students are being afforded the opportunity to bridge the gap between the theoretical and the practical. This infusion of knowledge, through real-world work experiences, would prepare our graduates to function optimally in their diverse professions,” said Moxey.
LENO’s strong partnership with UB is evident through its commitment to key fundraising initiatives, including the inaugural UB President’s Golf Classic & Spa Day as a silver sponsor and, for the second year, as a community sponsor for the UBFIT Fun Run Walk scheduled to take place on April 6.