In March 2016, the foundation launched a Sh50 billion “2jiajiri” programme that funds skills development and job creation.
It supports the informal sector entrepreneurs and the youth through vocational training.
Co-operative Bank Group CEO Gideon Muriuki says the foundation has spent Sh1 billion ($9.9 million) on social investment since its inception in 2007.
“The over $9.9 million that the bank has expended on full education scholarships since inception is fully funded from our coffers,” says Muriuki.
For instance, Equity and Coop bank give internships to the students they sponsor, making them grow to become customers.
Equity, in conjunction with Embassy of the Netherlands, has been running a three-year program dubbed ‘Agricultural entrepreneurship acceleration project’.
“We have trained them on safe practices and we want to bring on board 20,000 more medium-scale farmers to transform them into commercial farmers.
We believe their risk of default will reduce,” said CEO James Mwangi.
In 2016, Equity Group disclosed in its annual report that in partnership with other partners, it had disbursed Sh22.85 billion in social impact programmes.
“2jiajiri” programme In its sustainability report, KCB disclosed that in 2014, its Foundation had a budget of Sh201 million.