ABOUT THE FAMILY GROUP FOUNDATION AND ITS DRIVE
The Family Group Foundation was established by an associated group of companies namely Family Bank, Kenya Orient Insurance and Daykio Plantations. It seeks to empower families by catalyzing transformative change for wealth creation by building a more inclusive society through sustainable community investment programmes in the areas of education, health, agriculture, youth empowerment and entrepreneurship development.
The Family Group Foundation is deliberate in its strategy execution, more so within the global context occasioned by the COVID-19 pandemic, so that we can build a healthier, more resilient and sustainable world and deliver real-world benefit to global challenges.
Family Bank’s 2020 – 2024 Strategic Plan, dubbed ‘take-off’ is aligned to 13 of the 17 United Nations Sustainable Development Goals (SDG) and the United Nations Environment Programme (UNEP) Finance Initiative on Responsible Banking and Sustainable Financing aimed at delivering value and creation of a sustainable future for all. We took a further commitment to undertaking sustainable and responsible business to advance inclusive development this year by being the 4th commercial bank to officially join the United Nations Global Compact Network Kenya.
OUR SHARED VALUE INITIATIVES
As we grapple around the effect of the COVID-19 pandemic and seek to “Build Back Better”, the Family Group Foundation is focused on the implementation of a Shared Value Initiatives approach through multi-stakeholder partnerships as outlined in SDG 17 for long-term sustainability through a just, equitable and resilient society. The importance of collective action is now more crucial than ever for us to make a lasting change as business leaders in every sector and avert the impact of poverty and climate change on our socio-economic agenda.
Family Bank has set aside KES 300 million to advance the initiatives through the Family Group Foundation. Our Shared Value Initiatives are focused on youth and women empowerment centred on the following pillars namely:
1. Access to quality High School Education through Scholarships for bright and needy students.
The Foundation has set aside KES 30 million to benefit more than 100 students in 11 counties for their secondary education between 2021-2024. To date, over 500 students have been offered scholarships by the Foundation for their high school and tertiary education and also offered mentorship and counselling services through workshops for the holistic growth of our scholarship beneficiaries.
2. Inclusive education for children with special needs.
Through Champions Run for Autism, the drive behind the Family Group Eldoret Half Marathon, we have refurbished and equipped Sosiani Primary School in Uasin Gishu County with 3 classroom blocks facilitating more students living with autism to access specialized learning in a conducive environment.
3. Nurturing sports talents.
We have held the Family Group Eldoret Half Marathon for 13 years as a platform to nurture young sports talent within the region and through the proceeds of the marathon, the Foundation has created awareness of children living with autism and promoted inclusive education.
4. Agribusiness for Climate-resilient food and nutrition security.
In line with the Bank’s agenda on social impact anchored on the Sustainable Development Goals (SDGs) to alleviate poverty and create opportunities for food security, the Bank has rolled out initiatives in the dairy, agri-business, water, livestock, horticulture and renewable energy value chains with strategic partners such as Performeter Agribusiness, Palladium, among others. In addition, the Family Group Foundation is focused on scaling up Youth In Agribusinesses by promoting technical training and skills development of new farming technologies such as how to grow food crops using climate-resilient hydroponics farming for increased productivity as well as optimal utilization of water, land and labour for food production.
5. Construction in adherence using green building technologies.
Among the sustainable investment themes accelerated by the pandemic is green building technologies. The Family Group Foundation will conduct technical and vocational skills development in construction trades e.g. plumbing, masonry, electrical, welding and carpentry for youth and thereafter facilitate the acquisition of construction starter toolkits for the trained beneficiaries for self-employment, income generation and wealth creation in the construction sector.
6. Information and Communications Technology (ICT).
Information Communications Technology (ICT) remains a key enabler for economic growth across different sectors of our economy. The Foundation is providing capacity building, technical training and skills development in Animation, Coding and Artificial Intelligence to generate technology-based solutions for social impact. In addition, ICT start-ups will be supported through Business Incubation, Coaching and Investor Readiness for growth.
7. Water, Sanitation and Hygiene (WASH).
The Family Group Foundation has partnered with Water.org, a global player in the water sector at the National and County Governments, to promote access to finance for safe water and adequate sanitation projects in line with Sustainable Development Goal 6.
8. Environmental conservation for climate change adaptation.
Through an initiative dubbed, Trees for Life, the Foundation, in partnership with like-minded organisations such as Young African Leaders Initiative (YALI) and Nation Media Group, continues to support environmental conservation for climate change adaptation in line with the Government’s initiative to increase Kenya’s forest cover by 10%. To date, we have planted over 10,000 seedlings within Nairobi and Machakos Counties.
The Covid-19 pandemic occasioned a disruption in the lives and livelihoods of the communities where we operate countrywide. Consequently, the business community and the Government rallied together to cushion the citizens against the adverse effects on economic growth.
Family Bank has been cushioning our customers against the pandemic’s adverse effects through offering relief and extension of loans at no extra cost, waiving all charges for balance inquiries and money transfers between account and mobile money wallets and promoting cashless transactions.
To date, Family Bank has restructured loans of over KES 16 billion to support the Micro Small and Medium-sized Enterprises, who form our core customer base.
As part of our strategy to build a sustainable and inclusive business, Family Bank continues to work with the County Governments to assist vulnerable groups affected by the pandemic. So far, we have contributed over KES 13 Million as in-kind support in the form of ICU beds, ventilators, personal protective equipment, face masks, foodstuffs, among others to aid county preparedness to mitigate the impacts of Covid-19.
Published in the Daily Nation: https://bit.ly/3mqY6uk