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KCB Bank was last week named the best bank in Kenya and in East Africa in terms of Corporate and Social Responsibility in the 2017 Euromoney Awards for Excellence.
The lender was recognised for its roll out of innovative programmes targeted at youth empowerment through job creation.
“We have been trailblazers in this region in terms of embedding social responsibility in our business, not because it is what everyone is doing but because it makes business sense for us,” KCB Group chief executive Joshua Oigara said in a statement.
Through the KCB Foundation, the bank has committed Sh50 billion over the next five years which will be used to roll out new programmes such as 2jiajiri, an initiative that is aimed at bridging the unemployment gap by providing the youth with entrepreneurship opportunities.
Besides 2jiajiri, the lender also has the Mifugo ni Mali initiative which is a livestock value chain improvement programme in the arid and semi-arid counties in Kenya.
“We must make a difference in the societies that have given us a license to operate in,” Oigara said.
This is the third time the bank is winning the globally acclaimed award, the first time in 2005 and later in 2014, thanks to its innovative programmes like 2jiajiri, a job creation vehicle that focuses on alleviating youth unemployment.
Last week Moodys ranked the lender at position 721 of the world’s top 1000 banks with $929 million (Sh96.47 billion) in tier-one capital.
In the global rankings KCB took position 18 in the continent while Equity Bank ranked at position 21 in the continent with $740 million (Sh76.84 billion) worth in capital.
Coutesy of Star newspaper
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