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Stanbic Bank Signs MoU with Kisumu County Government

Stanbic Bank Kenya has opened a new branch and signed a Memorandum of Understanding (MoU) with the County Government of Kisumu in a bid to contribute to the growth and development of the county.

This is in line with the bank’s It Can Be brand promise to support and empower the communities in which they operate in, and in turn drive Kenya’s socio-economic growth.

The opening of the new branch in Kisumu was in response to the expanding market and the dynamic customer needs. Over the years, the bank has experienced a growing customer base within the region owing to their innovative and digital client solutions.

The new branch is set to be a one stop hub where customers can carry out all their banking and transaction needs 24/7 anytime with the inclusion of Cash Deposit Machines and ATMs.

Speaking during the branch opening, Stanbic Bank Kenya Chief Executive, Mr. Charles Mudiwa said, “We are honored to be here today to partner with the county government of Kisumu and invest in the third largest city in the country. We are proud to open this branch today as we aim to live up to our clients’ expectations.

Over the years, we have taken a proactive and intentional approach to understanding our customers and their ever-increasing needs. Our customers are gradually more in need of convenience, efficiency and user-friendly solutions.”

Following the branch opening, the Stanbic Kenya Foundation signed an MoU with the county government, in a ceremony graced by the Kisumu County Governor, H.E. Professor Peter Anyang’ Nyong’o. The partnership agreement, which is part of the bank’s FutureNiDigital campaign, was launched in 2021.

outlined in the MoU, the Stanbic Kenya Foundation and the county government will offer training on digital knowledge and skills; training on entrepreneurship and access to markets; availing affordable financing to mass market and corporates; and exploring ICT innovations around renewable energy, environment and climate change, empowering the youth, women and MSMEs towards building strong enterprises in line with UN Sustainable Development Goals (SDGs).

In addition to this, the partnership will see 1,000 government employees upskilled and seconded to the program as instructors. The digital skills training is a major boost to the Kenya government’s Digital Economy Blueprint, which among others, aims to foster innovation-driven digital enterprise.

During the MoU signing ceremony, Kisumu County Governor, H.E. Prof. Nyong’o noted, “Kisumu is open to collaborate with strategic partners who can contribute to turning the county into an economic hub. I believe that this partnership with Stanbic will help my administration unlock our full potential by investing in SMEs and individuals.”

He also gave updates about the upcoming Africities Summit which is set to take place in Kisumu between May 17th and 21st, 2022, saying they are expecting more than 10,000 delegates at the event. He said the county has also met with the Presidential Delivery Unit (PDU) to discuss preparations around the summit and that two hotels are fully booked for the event, which will position Kisumu for further growth and development.

At least 360 hotels in Kisumu and neighboring counties have been identified to host thousands of guests expected to attend the summit. Africities is the United Cities and Local Governments of Africa’s flagship pan-African event that is held every three years in one of the five regions of Africa.

Stanbic Bank has been on a journey to create an impact in the lives of Kenyans through the launch of the Stanbic Kenya Foundation. The Foundation has achieved significant milestones along the way and has made a mark in Education, Job Creation and Enterprise Development, through the launch of the Accelerate Program that positions Kenya businesses for success.

Since last year, the bank has successfully forged similar partnerships with various county governments including Nairobi, Nakuru, Meru, Mombasa, Kiambu and Laikipia, in an effort to equip SMEs with the digital skills to survive and grow their businesses in a dynamic environment, especially after the negative effects of the COVID-19 pandemic.

The Head of the Stanbic Kenya Foundation, Pauline Mbayah also noted that, “The Stanbic Kenya Foundation has come a long way from when we launched in 2020. The partnerships that we have forged along the way have not only had an impact on the lives of small businesses and individuals, but on a socio-economic level. This collaboration with Kisumu County will help us achieve our objectives of realizing the Global Sustainable Development Goals (SDG’s).”

Kisumu County, which is an emerging economic hub, has managed to achieve key socio-economic progress and improve the livelihoods of individuals under the leadership of Professor Nyong’o. The county government has focused its development plans on agriculture, health and education, key pillars that are also in line with the bank’s corporate social investments. Some of these key triumphs noted by the county include infrastructure development of the ports, hospitals and a stadium.

The county’s healthcare provision has recorded significant growth over the years in line with the country’s Universal Health Care (UHC) pilot scheme. In addition, the county successfully revived the Kisumu port which opens up the country to the wider East African region to boost the regional economy.

The bank has supported 15 children’s homes in the region by supplying food and handwashing stations to help combat the spread of COVID-19. In addition, they have built classrooms and donated sanitary towels. Handwashing stations were also distributed to the community in Kisumu including neighboring counties.

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