06 Dec THE FAMILY GROUP FOUNDATION INVESTS KES 90 MILLION ON SCHOLARSHIPS FOR NEEDY AND BRIGHT STUDENTS
Nairobi, Kenya, 30th April 2023- 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 contributing to the 100 per cent 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, the low and lower middle-income countries face 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.
ABOUT THE FAMILY GROUP FOUNDATION.
The Family Group Foundation (TFGF) was established by an associated group of companies namely Family Bank, Kenya Orient Insurance and Daykio Plantations. The Foundation’s mission is to empower families by catalyzing transformative change for wealth creation by building a more inclusive society through sustainable community investment programmes in the areas of education, health, agriculture, youth empowerment and entrepreneurship development through a Shared Value Initiative.
The Family Group Foundation is deliberate in its strategy execution, more so within the global context so that we can build a healthier, more resilient and sustainable world and deliver real-world benefits to global challenges.
Our Shared Value Initiatives are focused on youth and women empowerment centered on the following pillars namely access to quality secondary education through scholarships for bright and needy students, nurturing sports talent through the Family Group Eldoret Half Marathon, inclusive education for children with special needs dubbed Champions Run for Autism, agribusiness for climate-resilient food and nutrition security, construction in adherence to green building technologies, ICT, water, sanitation and hygiene (WASH) and environmental conservation for climate change adaptation.
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Beverlyn Naliaka
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OR
Phoebe Mulanda
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