Stanbic Bank Kenya has today signed a Memorandum of Understanding (MoU) agreement with the County Government of Kericho as part of the banks FutureNiDigital program.
The initiative championed by the Stanbic Kenya Foundation, aims to build the capacity of individuals and businesses by offering digital skills training.
Under the partnership the bank is implementing its Accelerate Program which aims to position businesses for success. The program’s FutureNiDigital Campaign addresses a significant skills gap in the country by boosting entrepreneurship and the employability of citizens through digital literacy and upskilling, career development, and providing funding (grants) and access to job markets, a move that has helped many people to recover from the negative economic impact brought on by the COVID-19 pandemic. More than 50,000 SMEs have benefitted from digital skills.
Speaking during the launch, Cabinet Secretary for the Ministry of Industrialization, Trade and Enterprise Development, Hon. Betty C. Maina lauded the move by Stanbic Bank saying 98% of the country’s private sector is built on SMEs. “ More than 15 million businesses in Kenya. These businesses are in manufacturing, trade and agriculture.”
On his part, Kericho Governor, H.E Paul Kiprono commended the bank for the role it is playing in supporting SMEs and encouraged businesses in the County to take advantage of the bank’s offerings to grow their businesses. The County, he added, encourages Public Private Partnerships (PPPs) in its undertakings. He said: “ Kericho is a premium investment destination and this marks the beginning of a string of partnerships geared towards improving the lives of our people. The coming of Stanbic is timely and will play a big role post Covid-19.”
Speaking during the signing ceremony, the Chief Executive for Stanbic Bank Kenya, Charles Mudiwa said, “Our partnership with the Ministry of Industrialization Trade and Enterprise Development continues to grow and today we sign this MoU agreement with the Kericho County Government and open a new branch to serve the region. Our commitment to support communities across the country has been driven by our mantra which is to drive Kenya’s socio-economic growth. Our commitment is also in line with our It Can Be brand promise which seeks to support and empower individuals to reach their goals.”
The bank also noted that it recognizes the changing global trade flows as a result of the Ukraine-Russia war and how Kenya and other African countries need to adapt to these changes which are having an impact on the agricultural businesses in Africa.
The signing of the MoU took place at the new branch opening ceremony in Kericho town in the presence of the Chief Guest of Honor, Cabinet Secretary, Ministry of Industrialization, Trade and Enterprise Development, Betty C. Maina. Key guests in attendance included representatives from the National and County Government, as well as executive members from Stanbic Bank Kenya.