KCB partners with Universities to transform learners and tutors welfare

The Kenya Commercial Bank has inked a deal with 29 public and private universities to support the transformation of Kenya’s higher education sector through financial, infrastructure and digital solutions.

The deal will benefit the entire university ecosystem students, teaching and non-teaching staff, suppliers, and surrounding communities with tailored services designed to close funding gaps and boost institutional resilience.

At the heart of the initiative are student-focused financial solutions aimed at promoting financial literacy and employability. These include student bank accounts, prepaid cards for money management, and digitized banking tools to ease fee payments and everyday transactions.

KCB Bank Kenya Managing Director Annastacia Kimtai said the initiative is anchored in the bank’s 2024–2026 strategy “Transforming Today Together,” which focuses on co-creating value with institutions that shape Kenya’s future.

“Kenya’s higher education landscape is shifting dramatically. Public university enrollment rose by 9.5% in 2024 to approximately 680,000 students. But while access is expanding, institutions face serious financial challenges. At least 23 universities risk insolvency,” Kimtai said.

KCB will also roll out a three-month internship programme targeting over 10,000 students annually, offering them practical experience and industry exposure in a job market where thousands of graduates remain underemployed despite their qualifications.

“We are stepping in to strengthen operations, modernize infrastructure, and  empower the people who power our education system. This is a shared commitment to a more resilient, inclusive, and sustainable future,” she added.

“Tertiary institutions produce over 60,000 graduates annually, but many end up in low-skill jobs or unemployed. Through internships, we aim to bridge the gap between learning and the world of work,” Kimtai noted.

University staff will enjoy affordable mortgage packages pegged at a competitive fixed rate of 9.5 percent repayable over 25 years as well as access to personal loans, prepaid cards, insurance cover, pension schemes and tailored asset finance.

The universities themselves will receive operational financing including project funding, infrastructure development loans, working capital support, digital cash management systems, and green climate finance for solarization and clean energy adoption.

“This MOU serves the whole university ecosystem, going beyond traditional banking to address the operational and social challenges facing institutions today,” said Kimtai.

KCB’s ecosystem approach also extends to SMEs and suppliers within the university networks. Under initiatives like Partner Kwa Ground, small businesses will gain access to affordable credit, training and mentorship to grow their operations.

Additionally, KCB Foundation the bank’s social investment arm will collaborate with universities to support community development through environmental conservation, skills development under the 2Jiajiri program, and scholarships for disadvantaged students.

The Principal Secretary for Higher Education Dr. Beatrice Inyangala, hailed the partnership, saying it aligns with government efforts to make higher education more accessible, sustainable and digitally enabled.

“We are seeking to collaborate with the private sector to transform higher education. This initiative is timely and strategic, especially as public universities grapple with funding gaps,” said Dr. Inyangala.

Also present was Prof. Henry Kiplangat, Vice Chancellor, Kabarak University  who signed the MoU on behalf of the institutions.