Corporate Social Investment
Our Corporate Social Investment (CSI) is more than an intervention in communities, it is an integral part of how we do business. We proactively identify opportunities arising from key social, developmental and business issues when formulating our CSI programs, rather than just reacting to requests from charitable causes.
Our Corporate Social Investment (CSI)
Our Corporate Social Investment (CSI) is more than an intervention in communities, it is an integral part of how we do business. We proactively identify opportunities arising from key social, developmental and business issues when formulating our CSI programs, rather than just reacting to requests from charitable causes. It is our vision to empower the communities in which we operate through facilitating socio-economic development of the underprivileged. We have in place a CSI committee that oversees the activities and enjoys representation from all departments within the Bank.
The strategic focus of our CSI investments is on;
• Entrepreneurship development and financial literacy
• Health and wellness
We support educational initiatives in Primary, Secondary and higher learning institutions (universities and colleges). The main focus within education especially in institutions of higher learning is to provide support to programs addressing the science, mathematics and accounting deficiency in the Kenyan labour market.
Health and wellness
Investments in Community Health and Wellness are mainly directed towards HIV/AIDS, tuberculosis (TB) and malaria with particular emphasis on education and awareness around increased uptake of Voluntary Counselling and Testing (VCT), lifestyle management, improved home-based care and support for a community. Programs that assist orphans and the elderly affected by HIV/AIDS can also be supported. To this end, we continued our partnership with ASN Upendo Village in Naivasha.
Entrepreneurship and Financial Literacy
We invested in entrepreneurial skills development and mentorship programs, which are aimed at positioning the Group as a leader in business development of communities, supporting economic development, and finding new ways of growing entrepreneurs’ skills in the markets we operate. Financial literacy is the key to healthy finances and as a responsible financial partner we offer value added services to the business people and organisations we bank. We provide them with opportunities to up-skill their workforce through a series of scheduled financial training programs aimed at helping them grow their businesses.
• Strathmore University Scholarship
2016 was the third year of the scholarship fund in partnership with Strathmore University, offering bright needy students an opportunity to pursue careers in finance and banking.
The scholarship is offered on an annual basis and caters for both tuition fees and accommodation for seven students and is open to all undergraduate students who meet the admission criteria, are academically outstanding and financially in need. The scholarships are worth KShs 11 million.
• United States International University Scholarship Fund (USIU)
In 2016, the fund entered its sixth year. Currently there are 4 students on scholarship pursuing degrees in the area of finance and/ or accounting. Apart from the tuition fees payments, the students are given opportunities to visit the Group’s head office to get first-hand information and experience of the operations of a financial institution. The second group of students sponsored by the Group at USIU graduated in 2016 and were hired on contract to support the rebranding project.
• Palmhouse Foundation Sponsorship and Mentorship Program
It has been seven years since we partnered with Palmhouse Foundation to sponsor bright and needy students through their four years of secondary school education. Currently, 16 students are enrolled in various secondary schools across the country with 10 having successfully completed their secondary education since the inception of the program. Four other students will be sitting for the Kenya Certificate of Secondary Education at the end of this year. Throughout the year, our employees are constantly involved in the mentoring of these students during the school holidays.
Entrepreneurship and Financial Literacy
In 2016, we piloted our financial skills training program for SMEs in partnership with Strathmore Business School dubbed BizConnect and trained over 150 customers across the country. The program was officially launched in April 2017 and has so far benefited more than 200 of our enterprise banking clients across the country.
Community Health and Wellbeing
SOS Children’s Villages
The SOS Buruburu Village in Nairobi continued to benefit from the Group as it renewed its sponsorship for another year. The sponsorship caters for the education and upkeep of 20 children of different ages throughout the year. Other projects that benefitted from our Corporate Social Investments under this pillar include:
• New Life Home Trust (Nairobi)
• Wema Centre (Mombasa)
• Tushinde Children’s Trust