KCB Signs Financing Deal With 29 Universities in Kenya

KCB Bank has launched a business proposition for institutions of higher learning to support them on project finance, infrastructure development and digitised payment solutions including the staff and their students to transform the country’s education sector.

This initiative, whose first phase has taken 29 public and private universities, will see the KCB Bank provide tailored financial and non-financial solutions designed to address operational, developmental, and social needs of universities across the country. The proposition includes operational financing for universities such as project finance, infrastructure development, working capital, and digitised payment solutions.

This is in addition to financial wellness products for teaching and non-teaching staff including salary advances, asset finance, mortgages, insurance, retirement solutions and green climate solutions such as solarisation, biogas and clean cooking, forex and investment options among others.

“We are reimagining support for the country’s higher education sector. This initiative seeks to unlock new opportunities for the education sector while enhancing its sustainability, growth, and socio-economic impact,” said KCB Bank Kenya Managing Director, Mrs Annastacia Kimtai. “We recognise the pivotal role universities play in knowledge generation, innovation, and economic growth. We are therefore stepping in to co-create value with these institutions to ensure their long-term sustainability.”

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The staff will be get affordable mortgages, personal loans, prepaid cards, pension solutions, comprehensive insurance coverage and multi-currency prepaid cards. Additionally, they will be empowered by KCB through financial literacy sessions aimed at strengthening their financial well-being and long-term financial security.

Student-focused solutions include fee payment plans, financial tools such as student accounts and prepaid cards to support money management, a three-month internship programme designed to equip over 10,000 students with practical skills and industry exposure and digital banking tools to enhance financial literacy.

The SMEs and suppliers’ support will be through financial assistance to access affordable credit facilities and capacity building through training and mentorship to foster business growth through initiatives such as Partner Kwa Ground and targeted MSME financing. Surrounding communities will benefit from this partnership through the KCB Foundation in partnership with university-led CSR projects.

The opportunities will include enterprise development, environmental conservation, skills development under the 2Jiajiri program and scholarship programs. This announcement comes at a time when the higher education sector is experiencing increased demand for accessible and inclusive financing models.

According to recent government data, most public and chartered universities in Kenya face funding shortfalls amid growing student populations and infrastructural needs. “We are seeking to collaborate with the private sector to drive the transformation of higher education. This initiative aligns well with government efforts to make higher education more sustainable, inclusive, and digitally enabled,” said Dr Beatrice Inyangala, Principal Secretary, State Department of Higher Education and Research.

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