Commercial Bank of Africa is making change one child at a time. Nelson Mandela stated ‘Education is the most powerful weapon which you can use to change the world’. CBA bank equally agrees with this through its actions. CBA bank through The Palmhouse Foundation has been sponsoring students from needy and disadvantaged backgrounds in their secondary education.
This partnership that has lasted nine years now, has seen about 50 bright, needy and deserving students from across the country benefit through the School Sponsorship program. On 7th January 2019, CBA bank and Palmhouse held a sendoff party at the All Saints Cathedral to award the students cheques. CBA partnership with Palmhouse Foundation covers a selection of deserving students, paying their tuition fees and mentoring them to ensure they have a rounded approach to life.
Speaking at the sendoff party, CBA Group Head of Marketing and Communications Chris Pasha, said ‘”The bank has broadened its scope of involvement as the bank’s staff volunteered and joined the Palmhouse Foundation Trustees in the interview and selection process conducted in Mombasa, Kitui, Kitale, Embu, Kakamega, Kisumu, Nakuru, Kiambu, and Murang’a Counties.” He added, “CBA staff normally do mentorship sessions with these students which are held in April and August during school holidays.”
From 2010 to 2015, CBA sponsored 4 students yearly through an annual sponsorship fee of Kshs. 1.2 million for the entire secondary school education. In 2016, the bank increased its sponsorship to 10 students, with a total annual sponsorship of Kshs. 3.2 million. This represents a 150% increase with the funds being channeled to this partnership through the Palmhouse Foundation. True to the Anne Frank’s saying no one has ever become poor by giving.
Palmhouse Foundation was founded in 2002 under the Trust Act and the NGO Coordination Act and facilitates students from less fortunate background to pursue and complete their secondary school education. The foundation now has over 900 beneficiaries, over 400 have completed their secondary education and many are pursuing their post-secondary both locally and overseas while the rest are still studying in Kenya’s top secondary schools.