CBA Continues To Sponsor More Students Through The Palmhouse Foundation
Eric Kimani (MBS) and Margaret Munene (MBS), the Co-founders and Trustees of the Palmhouse Foundation during the student send off at All Saints Cathedral.
Kenya’s largest privately owned bank Commercial Bank of Africa (CBA) has partnered with Palmhouse Foundation trust to transform lives of 10 students from disadvantaged backgrounds this year as the bank fully sponsors their entire Secondary School education through a Ksh3.2 million kitty.
This is the ninth year in a row that CBA Group is donating funds to the foundation in support of this school sponsorship program that fulfils education dreams for needy and deserving students across the country.
In a send-off event held at the All Saints Cathedral in Nairobi, CBA Group Head of Marketing and Communications Chris Pasha said the bank has broadened its scope of involvement as the bank’s staff volunteered and joined the Palmhouse Foundation trustees in the interview and selection process conducted in Mombasa, Kitui, Kitale, Embu, Kakamega, Kisumu, Nakuru, Kiambu and Murang’a Counties. CBA staff normally do the mentorship sessions with these students which are held in April and August during school holidays.
“CBA’s partnership with Palmhouse Foundation covers selection of deserving students, paying their tuition fees and mentoring them to ensure they have a rounded approach to life. Through this partnership, we have so far been able to give 50 of them an opportunity to realise their dreams, transform their lives, their families and society,” said Mr. Pasha.
From 2010 to 2015, CBA sponsored 4 students every year through an annual sponsorship fee of Ksh1.2 million for their entire secondary school education. In 2016, the bank increased this sponsorship to 10 students, with a total annual sponsorship fee of Ksh3.2 million. This represents a 150% increase with the funds being channelled to this partnership through the Palmhouse Foundation.
Palmhouse Foundation was founded in 2002 under the Trust Act and the NGO Coordination Act, and facilitates students from less fortunate background to pursue and complete their secondary school education. The Foundation now has over 900 beneficiaries, over 400 have completed their secondary education and many are pursuing their post-secondary both locally and overseas while the rest are still studying in Kenya’s top secondary schools.
