This archive report was first published on 14 May 2020.
As the COVID-19 pandemic continues to disrupt education, Absa Bank Kenya PLC has announced a new initiative to support schools and parents in acquiring e-learning infrastructure.
With the suspension of physical learning, schools have been forced to adopt virtual learning platforms, but this has been hindered by a lack of supporting infrastructure, including laptops, tablets, or smartphones for teachers and students.
Through this new initiative, Absa Bank will provide finances for schools to procure e-learning infrastructure, including hardware and software, as well as support parents who may need to purchase laptops for their school-going children.
According to Absa Bank Kenya Managing Director Jeremy Awori, the bank is committed to supporting its customers during this challenging time.
“The world is faced with one of the biggest crises of our time, and as Kenyans, businesses and individuals alike, we have a role to play in minimizing the economic and social impact of the COVID-19 pandemic on our country,” Awori said.
As part of its relief efforts, Absa Bank has reviewed its credit terms and is offering various options to cushion schools against the financial difficulties presented by COVID-19.
These options include restructuring of existing loan repayments, recurrent business expenditure loans, investment accounts, and credit cards.
