During Covid-19, providing support to more vulnerable sections of society has been more important than ever. Whether it’s distributing sanitary equipment or providing retailer vouchers through digital means, Kenya Commercial Bank’s KCB Foundation has stepped up to that challenge. This help, moreover, has come on the back of older initiatives that the foundation has developed over time.
Established in 2007, and now led by chairman Austen Baraza, KCB Foundation has deployed about KSh30 billion ($278 million) in community programmes across the countries in which the bank operates – Kenya, Uganda, Tanzania, Burundi and South Sudan.
One of the foundation’s most successful initiatives is 2jiajiri, which provides technical training to young people and micro-SMEs, especially in agriculture and construction, sectors for which it also provides discounted asset and capital finance for things like greenhouses. Thanks to its track record, this initiative has received KSh12.5 billion ($115.9 million) in funding from the Mastercard Foundation, with the aim to create over a million jobs through the programme over the next five years.
KCB Foundation is also behind Mifugo Ni Mali, a programme aimed at boosting Kenya’s livestock sector, especially in arid and semi-arid regions. The programme has trained more than 150 cooperatives on matters such as financial literacy, market access and collective bargaining. It has also piloted an initiative for livestock identification and traceability involving about 39,000 cattle.
KCB Foundation’s scholarship programme is also worthy of mention. Recipients receive a full four-year scholarship for school fees, stationery and uniform. It has provided more than 2,000 scholarships since 2007 and gave students extra support during the disruption caused by Covid-19.
