Absa Bank Kenya PLC has announced a contribution of KSh 50 million in support of the government’s efforts to contain the spread and impact of COVID19.
It becomes the latest blue-chip company to contribute towards the Government’s effort.
A sum of KSh 20 million will be channelled directly to the COVID-19 Emergency Response Fund for the acquisition of Personal Protective Equipment (PPEs) and other additional support to health workers dealing with the global pandemic.
Absa Bank is also contributing KSh30million to various initiatives specifically designed to help individuals and businesses get through this pandemic.
These include psychosocial support programs through which the bank will provide a mental wellness care center for coronavirus patients, health workers, and caregivers.
This program will offer counselling services which will be available 24/7.
Absa Kenya Managing Director Mr. Jeremy Awori said that the magnitude of the challenge caused by the COVID-19 pandemic requires all Kenyans, businesses and individuals alike, to actively play their role in minimising the economic and social impact of the disease.
“We all can do something, however big or small, that will get us closer to winning the fight against this pandemic. Extending care to our caregivers –the medical workers- is one of the outstanding areas that require urgent support and this is the call we are responding to as an organisation,” Mr Awori said.
Additionally, Absa bank plans to roll out business resilience training and mentorship programs for SMEs to help them survive this difficult time.
All these programmes will be implemented in partnership with various organisations and individuals, and coordinated through the COVID-19 Emergency Response Fund.
“SMEs are the heartbeat of our economy and we understand that this is a very difficult time for them. We have rolled out a number of initiatives to support them through this journey, including offering them bespoke loan repayment relief options, financial training around working capital/cash-flow management during times like this, as well as a commitment to pay all our SME supplier invoices within 14 days,” Mr Awori said.
The bank also announced that it had created a dedicated a funding line for businesses involved in manufacturing health equipment or offering products and services directly related to the fight against COVID-19.
The COVID-19 Emergency Response Fund has so far raised over Sh1.2 billion, according to its chairperson, Jane Karuku.
Established on April 1, 2020 as part of President Uhuru Kenyatta’s administration to mobile resources to fight the coronavirus, which has so far infected more than 2.5 million people worldwide, has been attracting contributions from private sector companies and well-wishers.
The Fund has raised more than KSh 917 million in cash as well as food and non-food items worth more than KSh370 million bringing the total to more than KSh1.3 billion.
Blue-chip corporates, religious institutions, and well-wishers continue to donate to the fund.
Some 15 media houses, through Media Owners Association, have each agreed to donate advertising space and airtime worth KSh10 million, bringing their total contribution to KSh150 million.
These are Standard Group, Capital, Ebru Africa, Family, Kass, KBC, Media 7, MediaMax, Nation Media, Radio 44, Radio Africa, Royal Media, Switch TV, Three Stones and TV 47.
The advertisements will be carried across newspaper, radio, TV and digital platforms provided by the media houses.
ALSO READ:Kenya Receives KSh5 Billion from World Bank to Combat COVID-19
