This archive report was first published on 5 October 2021.
On October 5, 2021, Stanbic Bank Kenya and the Stanbic Kenya Foundation signed a Memorandum of Understanding (MoU) with the Meru County Government to support Micro, Small, and Medium Enterprises (MSMEs) in the region.
The partnership aims to drive economic growth in Kenya by providing MSMEs with requisite skills, catalytic funding, and access to markets. This is in line with the Sustainable Development Goals (SDGs) and the Accelerate program, which was rolled out by the Stanbic Kenya Foundation this year.
Meru County Governor H.E. Kiraitu Murungi, Stanbic Bank Kenya Chief Executive Charles Mudiwa, and Head of Stanbic Foundation Pauline Mbayah signed the MoU, which also included the donation of 20 computers and 3 laptops to the County Government.
Speaking during the signing ceremony, Governor Kiraitu Murungi emphasized the importance of supporting MSMEs in the region, stating that the engagement is anchored on providing requisite skills, catalytic funding, and access to markets for various sectors and value chains.
Stanbic Bank Chief Executive Charles Mudiwa highlighted the bank's commitment to forging strategic partnerships with both national and county governments to drive Kenya's economic growth. He also emphasized the need to address the significant skills gap in the country, which was exacerbated by the COVID-19 pandemic.
The Stanbic Kenya Foundation has already implemented various interventions under the Accelerate program, including capacity building through digital skilling programs and entrepreneurial training programs. The foundation plans to distribute over 400 computers and laptops to facilitate the learning program, which aims to equip 50,000 SMEs with digital skills by the end of 2021.
Meru County has been recognized for its achievements in facilitating sustainable development and wealth creation through commerce, technological innovations, and industrialization. The county has leveraged on skilled human resources, agriculture, wildlife, biodiversity, and cultural heritage to achieve its goals.
Stanbic Kenya Foundation Head Pauline Mbaya emphasized the foundation's commitment to creating job opportunities and steering enterprise development, financial inclusion, education, health, corporate social investments, and corporate volunteerism. The foundation's expected impact is in social-economic growth for small entrepreneurs, environment and climate mitigation, preventive healthcare, and cross-border trade and investments.
The Stanbic Kenya Foundation has made great strides under its core pillars, including healthcare initiatives such as donating 192 ventilators worth Kshs. 147 million to the Ministry of Health and rolling out cancer screening initiatives in partnership with the Kenya Health Federation.
