Family Group Foundation has earmarked Kshs 90 million for funding scholarships for 1,000 bright and needy students joining form 1 next year.
Through the Tufuzu Elimu High School Scholarship Program, Family Bank has increased investment in high school scholarships from Kshs 60 million to Kshs 90 million for 1,000 students from over 350 schools.
“With the tough economic conditions, as a Bank, we are committed to ensure inclusive and equitable quality education for all. Throughour 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 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 said.
The scholarships will cater for both tuition and upkeep for beneficiaries. In addition, Family Group Foundation will 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 about 1,000 vulnerable women by 2025 funded byKshs 30 million availed by the Family Group Foundation.