I&M Foundation has announced a tripartite partnership with The King’s Trust International and Asante Africa Foundation to develop and encourage entrepreneurial spirit and business knowledge amongst high school students in remote schools across four counties in Kenya.
In 2024, the Enterprise Challenge (EC) Programme targets 1,716 learners from 22 remote schools in Narok, Samburu, Marsabit and Turkana Counties.
A unique aspect of the Enterprise Challenge Programme is the adoption of youth-centered digital learning solutions to enhance the delivery of concepts and enhance learning outcomes in the club-based stage.
After the club patron and youth club leaders introduce the fundamentals of business management, students’ progress to the Enterprise Computer Game which is a business simulation platform.
KTI developed the game with capabilities that allow the aspiring entrepreneurs to conceptualize, formalize and run their own micro-business. Components include choice of commodities to trade, pricing models, ethical practices, staffing and more.
I&M Group to increase its branches to 100 within two years
The programme seeks to address the stark reality of the job market today which according to data gathering and visualization platform Statista, only 563,000 students were enrolled in universities in Kenya during the academic year 2022/23.
Additionally, in 2023, Kenya’s informal sector contributed to 85 percent employment as most graduates are not absorbed into the formal work stream. These emerging patterns necessitate dynamic job creation strategies by key stakeholders.
I&M Foundation Head, Mr. James Gatere said “I&M Foundation spearheads the shared value agenda for I&M Bank. The Bank in its third iteration of the iMara strategy has a key objective to impact more than 10 million lives by 2026.
This partnership demonstrates our commitment to this endeavour. I&M Foundation has wide-ranging initiatives in Nairobi, Kiambu, Narok and Kilifi Counties and with the Enterprise Challenge Programme, we are intensifying our efforts to catalyse economic growth and decent work for the youth across Kenya.
The endowment of Sh. 48.1 million by I&M Foundation will see the programme scale up significantly with a projected total number of 6,300 students by the end of its current cycle.”
The on-the-ground East Africa implementing partner, Asante Africa Foundation, delivers the EC as the second phase of the Youth Livelihoods Programme (YLP) reinforcing lessons from the foundational elements of business.
As they complete the EC phase the youth launch school-based initiatives where participants are empowered to develop a business idea and subsequently pitch their idea to local business leaders.
This is followed by regional and national competitions where they present before a judging panel.
At every level the teams are provided feedback and opportunity to further develop their business concept, with the support of business mentors. National winners will receive seed funding to start their enterprise idea.
Asante Africa Foundation’s Deputy CEO, Geoffrey Kasangaki states, “This partnership is accelerating the depth of learning and broadening the reach to more rural young people who are frequently forgotten.
We have first-hand experience that young people, when given the tools and knowledge, will collectively solve challenges their communities face and make money doing it.”
Country Manager, Nickson Ateku shares that the funds go meet various needs of more digital devices and tools, start-up seed capital for the winning business concepts, business-youth mentorship, and program evaluation. “With I&M Foundation’s entrance, the youth employment landscape in Northern Kenya is bound to experience an unprecedented transformation.”
On the expansion of this partnership, CEO of The King’s Trust International, Will Straw said “”I am thrilled to grow this partner with I&M Foundation and Asante Africa Foundation to scale up our Enterprise Challenge programme in Kenya significantly over the next three years.
With the support of I&M Foundation, we can triple, our delivery of Enterprise Challenge, reaching over 40 schools in total and, by the end of the programme, over 2,000 young people per year. Our partnership will also enable us to expand digital inclusion and digital literacy training for young people across selected schools.”
Pursuant to the Global Goals and agenda for sustainable development, the Enterprise Challenge Programme strives to inculcate triple bottom line framework principles in the learners by awarding extra points to business ideas that demonstrate ethical and sustainable values at the heart of their decision-making.
