Family Bank through its philanthropic arm Family Group Foundation will spend KES 90 million on scholarships for 1000 bright and needy students joining Form 1 next year.
Through the Tufuzu Elimu High School Scholarship Program, the Bank has increased the investment in high school scholarships from KES 60 million to KES 90 million for 1000 students across 66 constituencies targeting over 350 schools.
“With the tough economic conditions, as a Bank, we are committed to ensure inclusive and equitable quality education for all. Through our education pillar, we will be able to offer bright and needy students the opportunity to pursue and successfully complete secondary education. This will provide relief to parents struggling to meet tuition needs and greatly contribute to the 100 percent transition policy put in place by the Ministry of Education,” said Family Bank CEO Designate Nancy Njau.
According to the Sustainable Development Goals Report 2023, low and lower-middle-income countries face a nearly USD 100 billion annual financing gap to reach their education targets.
“The need to bridge this financing gap is dire and it calls for the private sector to support Government initiatives and Family Bank is committed to seeing that we can support families across the counties and grow the next crop of future leaders,” she added.
The awarded scholarships will cater for both tuition and upkeep for the beneficiaries and also offer soft-skills training for the students through annual workshops and bootcamp.
The Family Group Foundation has also invested in TVET training for young and vulnerable women in plumbing and electrical work through a partnership with USAID Tumikia and World Vision Kenya. This partnership seeks to train close to 1000 vulnerable women by 2025 through a KES 30 million partnership.
