National Bank of Kenya (NBK) has unveiled Elimu Konnect, an education enabling program, pledging Sh2 billion to support education infrastructure in primary and secondary schools.
NBK also launched a funding deal with Kenya Private Schools Association (KPSA) and UNIFIED Alternative Providers for Basic Education and Training (APBET) Schools Association-Kenya.
In the deal unveiled on Tuesday, the bank said it will fund key aspects of quality learning including classes, energy, water, ICT, learning programs, working capital and asset financing.
The National Bank said it will fund projects to member schools at 11 per cent to enable them to realise quality and excellence in learning for both Primary and Secondary schools.
NBK Acting MD Peter Kioko said NBK comprehends hurdles facing education hence its focus on products that contribute to Sustainability Development Goal 4 to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all in Kenya.
“The NBK Elimu Konnect program seeks to address the challenges in the enablement of the Education sector in Kenya with a view to capacity building, financial enablement, technology improvement, innovation and excellence in learning,” said Kioko.
He added: “We are, therefore through this and other partnerships under the Elimu Konnect proposition, looking forward to supporting the education ecosystem as a financial partner to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.
He said NBK is keen to work with all education stakeholders to find solutions and partners to foster investment in affordable financing, technical assistance and capacity building to schools.
Elimu Konnect is collaborating with various education players including Kodris Africa for a Coding for Schools platform and is offering a 20 per cent discount to schools funded via the NBK–Private Schools partnership.
NBK will also fund energy and water needs through its MajiKonnect program by supporting drilling of boreholes and solar energy for lighting, water heating and powering e-learning gadgets.
“We are, therefore, through this partnership, happy to have a financial partner that is focused on supporting the education ecosystem to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all,” said Kenya Private Schools Association (KPSA) chairman Charles Ochome.
He added: “We will work together with NBK and other like-minded partners such as Kodris Africa towards affordable financing, technical assistance, technology in schools and capacity building for our member institutions.”
NBK further developed NatShule, an online platform that manages school administration and reconciliation tasks via a secure 360-degree view to handle everyday school operations.
NatShule links all school functions through integrated mobile, internet and SMS capabilities and services.
KPSA and UNIFIED APBET Schools Association-Kenya are umbrella bodies for private schools that complement Government efforts to provide and expand access to quality education.