In a move to deepen its investments in supporting the education sector in Kenya, KCB Group recently partnerd with HELB to issue 30,000 smart cards to students to access loans. The firm has issued 16,000 cards of the 30,000.
The firm also sponsored the 40th Annual Kenya Secondary School Heads Association Annual Delegates’ Conference-2015 with Kshs. 12 Million to facilitate its activities throughout the year and recently the Higher Education Loans Board (HELB) backed Universities Student Leaders Conference that took place last week where the Bank pumped in Kshs. 1 Million.
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% 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.
To date KCB has awarded over 800 secondary school scholarships and beginning this year, the Foundation has included students with special needs into its 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.
