By Dennis Muritu
Co-operative bank will this year sponsor about 655 needy students from across the country through its scholarship program.
This is after the lender’s board of directors announced the selection of the beneficiaries of this year’s Co-operative Bank Foundation Scholarship Scheme.
Of the 655 new scholarships to Form One students, 420 were identified by the bank’s Regional Delegates’ Forums and the remaining 235 scholarships, at 5 per county,awarded by County Governments in all the 47 counties, the bank’s Group Managing Director & CEO Dr. Gideon Muriuki said.
“Our scholarship beneficiaries are selected at the grassroots level by co-operative societies across the country through a well-established national delegates system,” said Mr Muriuki.
“At the bank’s head office, our role is to process payments to the schools and monitor the students’ performance. The top 28 in the Form Four examination each year are granted an additional full scholarship for their university education.”
The 2020 intake pushes the tally of students that have gone through the lender’s sponsorship to 7,640.
Ninety-five per cent of the beneficiaries (7,332), were secondary school students, with 308 in university
Co-operative Bank spends about Sh155 million every year on the scholarship programme that aims to give gifted but needy students an opportunity to advance their education.
Additionally, the bank is educating a total of 177 students, selected from the top-performing beneficiaries of the secondary school scholarships, through their entire university education.
“Unless corporate institutions and all people of goodwill come together to support initiatives within the education sector, gifted but needy Kenyans will never realise their full potential,” said Muriuki.
Co-operative Bank provides full school fees scholarships for the entire four years of secondary education. University scholarships are awarded to the best performing students from each region.
The scholarship program was launched in 2007.