The National Bank of Kenya (NBK) announced a Ksh.2 billion education programme with target to up-skill Infrastructure development, leadership capacity building, innovation in learning, Energy and Water provision, Digitization and ICT Infrastructure as well as Asset Financing for schools.
The programme was launched Tuesday in partnership with Elimu Connect towards the support of the education ecosystem within both primary and secondary schools in the country.
NBK also announced financing partnership with Kenya Private Schools Association (KPSA) and UNIFIED Alternative Providers for Basic Education and Training (APBET) Schools Association-Kenya.
It entails financing to support key components of quality education including quality and sufficient infrastructure development, sustainability in energy & water, ICT infrastructure & learning programs, working capital, and Asset financing. National Bank will finance projects to member schools at 11 percent in a bid to support them achieve quality and excellence in learning for both Primary and Secondary schools.
Speaking at the launch, Mr. Peter Kioko, the Acting Managing Director at NBK noted that the bank understands the challenges encountered in the education sector and therefore the need to create a tailored offering that contributes to Sustainability Development Goal 4 by ensuring inclusive and equitable quality education and promote lifelong learning opportunities for all in Kenya and the World at large.
“The NBK Elimu Konnect program seeks to address the challenges in the enablement of the Education sector in Kenya with a view to capacity building, financial enablement, technology improvement, innovation and excellence in learning, said Peter Kioko, Managing Director, NBK.
Elimu Konnect creates a collaboration between different partners in the education sector including Kodris Africa for a Coding for Schools platform. Notably Kodris Africa will provide a 20 percent discount to the schools funded through the NBK– Private Schools partnership.
The bank will also provide financing for energy and water needs through its MajiKonnect program by supporting the drilling of boreholes and ensuring solarization for energy including Solar Panels for lighting, water heating and powering E-learning gadgets. This will reduce overheads related to power, and support digitization programs while still promoting sustainability on climate.
“We are happy to have a financial partner that is focused on supporting the education ecosystem to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. We will work together with NBK and other like-minded partners such as Kodris Africa towards affordable financing, technical assistance, technology in schools and capacity building for our member institutions,” said Kenya Private Schools Association (KPSA) chairman Charles Ochome.
NBK will also facilitate the digitization of school technologies and the development of ICT infrastructure.
KPSA and APBET Schools Association-Kenya are umbrella bodies for private schools playing a key role in complementing the Government’s efforts in the provision and expansion of access to quality education for all.