Standard Chartered Bank has launched its new community investment approach called Futuremakers by Standard Chartered to help the next generation learn, earn and grow.
Futuremakers by Standard Chartered aims to empower young people with education, employability and entrepreneurship opportunities.
“More than 20% of Kenyans are youth, yet the economic opportunities to finding decent work or starting a business, are dismally low. This is just not good enough. Standard Chartered Bank must be part of supporting and finding solutions that bridge inequality and drive sustainable growth.” Said Kariuki Ngari, CEO Standard Chartered Bank. “Through our Futuremakers programme, our global ambition is to raise USD50 million and we will empower 500,000 adolescent girls, support 100,000 youth towards employability, and build the entrepreneurship capability of 50,000 micro, small businesses.”. Kariuki added.
National and global studies from leading organisations, like Twaweza East African and Oxfam International in recent reports published in 2018 and 2017 respectively show that inequality continues to rise in Kenya and these reports urge for urgent more concerted action to address the inequality gap.
The Bank already has existing programmes in place supporting education, employability and entrepreneurship. In 2018, the Bank engaged over 3,000 girls in life skills capability building, provided more than 250 young women with employability and entrepreneurship opportunities, and trained 9,000 youth with financial capabilities.
In partnership with Strathmore University, the Bank incubated 20 women-led startups with business and technology skills and awarded five of these enterprises with Kshs.1 million each as seed-funding.