Kenyan Co-operative Bank increases education scholarships to almost 2,800 students

26 Feb 2014

The Co-operative Bank of Kenya has increased its secondary school scholarships for bright but financially disadvantaged children from all over the country to almost 2,800 students over the next 4 years, from the previous 1,400 students.

The additional scholarship will be awarded by the bank’s Regional Delegates Forums and the 47 County Governors to the incoming Form One students (aged 11-12), the bank’s Group Managing Director and CEO Dr. Gideon Muriuki has said. Dr. Muriuki observed that education is one of the most expensive things in any household’s budget and yet has the highest potential to liberate people from poverty.

Every year, therefore, 655 scholarships will be awarded which will cover all education costs. Additionally, the bank will educate another 140 students in various universities and colleges. When added to the number of students educated since 2007, when the Co-op Bank Foundation was created, the bank will have provided education to over 5,000 bright students who otherwise might not have been able to afford it.

ICA Africa Regional Director Dr Sifa  Chiyoge said: "I thank the co-operative bank for living up to the expectation of "concern to the community" which is our 7th Co-operative Principle. Indeed, education is key to unlocking Africa's potential, yet it remains a luxury which only a lucky few can afford. A helping hand from the Co-operative Bank, will for sure, relieve a great number of families in Kenya  and free them from the poverty circle. This is a noble act and I urge other co-operatives in Africa to double thier efforts in sharing with their communities".

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