MoneyGram & Co-op Bank Collaborate to Provide Education Scholarship
350 students to benefit from 5 million shillings donation
A mentorship program facilitated by Co-operative Bank of Kenya Foundation and sponsored by the MoneyGram Foundation will benefit 350 underprivileged high school students countrywide. This program is expected to boost the students’ academic performance, help them make better career choices, and give them the skills to succeed in university and beyond. The program will be launched in countrywide workshops this month.
The mentorship program funded by MoneyGram Foundation through a grant of five million Kenya shillings will be facilitated by Kenyan entrepreneurs, university students and social workers throughout this week. The week-long workshops will be held in seven regions around the country, and will target form three students from each region. The 350 students have been selected based on performance. They are the top performers in the current scholarship program run by the Co-op bank foundation.
“I would like to thank the Co-op Bank Foundation and MoneyGram Foundation for their generosity. Investing in future entrepreneurs, doctors, lawyers, journalists, marketers, captains of industry – and anything else that we endeavor to become – will go a long way in not only helping our families and communities, but also creating a more prosperous nation. We look forward to putting into practice all that we will learn in these workshops. We also promise to make you proud,” said Salome Kagumu, Kenya High School student.
Currently the Co-op Foundation has reached over 3000 students by paying school fees in secondary schools across Kenya. The Co-op Foundation has also reached an additional 140 students in various universities. The Co-operative Bank of Kenya has allocated over Ksh 600 million from the banks’ profits towards increasing access to good education for needy children since 2007.
“(Inspiring minds and improving lives is the mission of the MoneyGram foundation) The MoneyGram Foundation believes that education is at the heart of better economic opportunities, healthier families, and individual freedom and empowerment. That is why we are supporting the Co-operative Bank’s mentorship program. We are proud and honored to help improve the quality of education for so many children across Kenya,” said Jacqueline Lowe, President of the MoneyGram Foundation. “We are inspired by our customers who are driven to create new and better opportunities for themselves and their families”
“At the Co-operative Bank Foundation, we believe that education is a potent catalyst that can change an individual, a society, a country and a generation. Education not only empowers the mind but it also gives you the key to unlock the golden door of freedom. Freedom to become whatever you wish to be, freedom to dream, freedom from poverty and the freedom to create opportunities for yourself and many others. This is why we at the foundation take our work seriously and we thank the MoneyGram Foundation for their generous grant that will go a long way in impacting the lives of 350 underprivileged students,” said Rosemary Githaiga, Company Secretary, Co-operative Bank of Kenya.
About MoneyGram Inc.
MoneyGram is a global provider of innovative money transfer services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.
About MoneyGram Foundation
MoneyGram established the MoneyGram Foundation in 2012 to help children around the world gain access to educational facilities and learning resources. Its mission is firmly rooted in the belief that education is at the heart of better economic opportunities, healthier families and individual freedom and empowerment. The MoneyGram Foundation is focused on inspiring minds and improving lives and grants funds to deserving organizations with this mission in mind. To learn more, please visit moneygramfoundation.org or connect with us on Facebook.
About Co-op Bank
The Co-operative Bank Group (‘Co-op Bank’) is incorporated in Kenya under the Company’s Act and is licensed to carry out the business of banking under the Banking Act and is regulated by the Central Bank of Kenya. The Bank was listed in year 2008 wherein it is now the largest Co-operative Bank in Africa.
The Group is the 3rd largest by Assets in the region and runs 4 subsidiaries namely; Kingdom Securities Ltd, Co-op Trust Investment Services Limited, Co-operative Consultancy Services (K) Limited and Co-operative Bank of South Sudan; The Bank also owns 26% of CIC Insurance Group. The Banks footprint across Kenya and the region includes; 140 branches in Kenya, 4 in South Sudan, 570 ATM service points, and over 8,700 Co-op Kwa Jirani banking agency outlets supporting a growing client base now standing at over 5.9 million account-holders. Co-op Bank is the 5th largest company by market capitalization on the Nairobi Securities Exchange. The Bank was awarded the 2015 Global Financial Inclusion Award by the Financial Times of London and the Group MD & CEO Dr. Gideon Muriuki was the CEO of the Year – Africa 2014 in the International Banker Awards.
About Co-operative Bank Foundation
Co-operative Bank Foundation was established in 2007 as a registered trust in recognition of the need to enhance the existing Corporate Social Responsibility (CSR) initiatives by the bank.
In the same year, they successfully rolled out an Education program to pay school fees for needy secondary school students. In 2011 the foundation also launched the university and vocational internship program. Co-op Bank Foundation has provided Scholarships for bright but needy students from all regions of Kenya. The sponsorship includes; fully paid secondary education, full fees for University education, Internships and career openings for beneficiaries. The foundation is fully funded by the bank and has so far supported 4,200 bright students. Currently Co-op Foundation has reached over 3000 students with school fees in secondary schools across Kenya and an additional 140 students in various universities with over Ksh 600 million allocated for the purpose from the banks’ profits since 2007.
