NAIROBI: KCB Group has deepened its investments in supporting the education sector in Kenya in its efforts to supplement government efforts to revamp the sector and meet the needs of the modern world.
This was revealed during the unveiling of sponsorship for the 40th Annual Kenya Secondary School Heads Association Annual Delegates’ Conference-2015 where the Bank has sponsored the meet to a tune of Kshs. 12 Million to facilitate its activities throughout the year.
This comes only days after the Bank also sponsored the Higher Education Loans Board (HELB) backed Universities Student Leaders Conference that took place last week where the Bank pumped in Kshs. 1 Million into the sponsorship, in line with KCB’s continued investment in the education sector in the East African Region.
For many years, the Bank has been advancing funds to institutions of higher learning to facilitate infrastructure expansion as well as offering financial solutions tailored to serve the specific needs of the institutions.
KCB recently partnered with HELB to facilitate the issuance of smart cards for the disbursement of student loans is in line with government efforts streamline this sector.
Currently, the Bank has issued out 16,000 cards to students out of a target of 30,000 by the end of the year.
KCB Group remains relevant to Kenya’s evolving education sector to supplement government efforts geared towards enabling the institutions run efficiently and access working capital.
The Bank has put in place various advanced banking structures to support the sector.
Through invoice discounting the Bank is now able to offer a comprehensive package of up to 80 per cent financing, to purchase school facilities at a competitive rate including a premium insurance cover.
“The Banks’ initiatives are complemented with tailored services that meet the unique and diversified needs of learning institutions in the region”, said KCB Chief Business Officer and MD Kenya Samuel Makome ahead of tomorrow’s official opening ceremony of the Kenya Secondary School Head Association (KSSHA) conference in Mombasa.
The check-off loans system has eased teachers’ access to credit facilities under Kenya Education Support Program (KESSP). Fee payment and collection can now be done via KCB Mobile and agency banking platforms and schools can access overdraft facilities for working capital and salary payments.
Mr Makome also noted that, in harmony with the KSSHA’s aim to assist members and offer them effective and well directed services to their own schools and communities the Bank has been instrumental in maintaining a strong, consistent, and sustained collaboration with key stakeholders in the education sector.
“The role of education in the overall development of a country’s social, economic and political spheres cannot be overemphasized. All of us have the responsibility to push for extensive reforms in policy, legislation, and curriculum aspects of the education sector”, added Mr Makome.
Through the Bank’s social investment arm the KCB Foundation, the lender has taken major strides to transform our schools in order to create a conducive learning experience, while sponsoring hundreds of needy students across the country.
To date KCB has awarded over 800 secondary school scholarships and we will continue to grow these numbers. All our scholarship beneficiaries also receive mentorship throughout the scholarship duration and beyond.
Beginning this year, the Foundation has included students with special needs into our scholarship programme. Out of the 240 students that the Bank are sponsoring this year, 40 are disabled.
The KCB Foundation has also donated learning materials to over 200 schools, constructed and equipped learning facilities to various schools across Kenya’s 47 counties.
