Co-operative Bank gives Sh200m for scholarship drive

Co-operative Bank Group Managing Director and CEO Gideon Muriuki

Co-operative Bank of Kenya will spend Sh200 million on its annual scholarship scheme for bright but needy students this year.

The bank has released a list of 655 students who will benefit from this year’s initiative as it seeks to deepen investment in corporate social responsibility projects.

According to the bank’s Managing Director and Chief Executive Gideon Muriuki (right), the students, selected from across the 47 counties, will see their entire school fees paid by the bank.

Monitor performance

Of the new scholarships, 420 were awarded by the bank’s regional delegates’ forums while the remaining 235 scholarships, at five per county, were awarded by county governments.

“Our scholarship beneficiaries are selected at the grassroots level by co-operative societies across the country through a well-established national delegates system. Our role is to process payments to the schools and monitor the students’ performance throughout the four years,” said Muriuki in a statement yesterday.

According to the CEO, an additional 159 students selected from the top-performing beneficiaries of the secondary school scholarships will be sponsored throughout their university education.

Other banks that have similar scholarship programmes include Kenya Commercial Bank, Equity Bank and Family Bank.