KBA Awards KCDF Ksh4 Million Grant to Empower Youth in Kenya
Nairobi, Monday, March 13 2017, Kenya Bankers Association (KBA) - the umbrella body of the banking industry - signed a partnership agreement with the Kenya Community Development Foundation (KCDF), promoting Mkenya Daima principles of peaceful co-existence and peace for economic growth and prosperity. KBA has granted Ksh.4 Million to support KCDF undertake programmes that engage youth groups living within Nairobi and Mombasa, areas that are often disrupted by polarised politicking.
The KBA funding will target interventions that focus on young men, with a focus on three objective areas:
Speaking during the partnership agreement signing, KBA CEO, Habil Olaka, said that the funding will focus on young men who have entrepreneurial skills, are assertive and have leadership characteristics that will enable them influence their communities in a positive way.
"By engaging the youth through this programme, the goal is to provide them with a sense of purpose, community and bond them to the Mkenya Daima ideals," said Mr. Olaka. "Our goal is to implement sustainable initiatives that target youth development by exposing youth to skills that empower them economically and ultimately enable them to be self-reliant," he said.
The KBA-KCDF agreement signing was witnessed by Mkenya Daima Steering Committee representative Polycarp Igathe and the Kenya Private Sector Alliance (KEPSA) Vice Chair - Sports, Arts and Culture Julias "Juliani" Owino. Through the programme, KCDF will provide financial literacy and seed funding to select youth groups from Huruma and Kariobangi in Nairobi and Kisauni in Mombasa. The targeted youth will be trained on establishing and managing micro enterprise ventures, and supported with business coaching through apprenticeship that KCDF will facilitate in partnership with the local communities.
According to KCDF's Executive Director Janet Mawiyoo, the funding will go a long way in ensuring the young men, who continue to be marginalised, get requisite skills and values that will enable them become productive and law abiding citizens. "This partnership is a testament of how the private sector and development organisations can come together to address emerging issues in our communities such as disenfranchisement of young men. This programme will not only inculcate a sense of responsibility and pride in young men but also expose them to diversified livelihood opportunities through entrepreneurship," said Ms. Mawiyoo.
The KBA funding was raised during the Association's annual Chairman's dinner event that was held in December 2016 and attended by bank chief executives and chairpersons as well as industry stakeholders from the private and public sector.
About Kenya Bankers Association
Founded on 16th July 1962, KBA has evolved and broadened its function to include advocacy on behalf of the banking industry, and championing financial sector development through strategic projects. KBA has undertaken major industrywide initiatives, including aligning standards on payments; promoting pricing transparency through the introduction of the Annual Percentage Rate framework (costofcredit.co.ke); and the modernization of the National Payments System through the Automated Clearing House, which KBA owns and operates. In line with the Government's policy on public-private partnerships, the Association and CBK have implemented key milestone projects such as the Real Time Gross Settlement System (RTGS), and the Kenya Credit Information Sharing Initiative, which introduced the use of information collateral provided by credit reference bureaus to enhance credit access for borrowers.
About Kenya Community Development Foundation
The Kenya Community Development Foundation (KCDF) was registered in 1997 as a community foundation that promotes sustainable community-driven development initiatives. KCDF believes that systemic and enduring change is possible when communities are able to initiate and drive their development agenda while working with government and other actors to access their basic rights and services as well as harness and grow their own resources. KCDF implements development programmes across the country by partnering with credible and organized community groups.