Absa has launched the Absa Kenya Foundation (AKF) an impact investment vehicle for the lender that will promote its positive impact and beneficial effect within its community.
The Bank will spend at least half a billion shillings in capital investment as a seed fund towards revolutionary projects. This is on top of the 150 billion already invested in their advanced finance initiatives.
Speaking at the launch, Prime Cabinet Secretary Musalia Mudavadi emphasized on private sector to contribute in supporting government initiatives by supplying capital to entrepreneurs who create sustainable opportunities.
The foundation will focus on four strategic pillars namely; entrepreneurship, education, natural resources management and health and humanitarian relief putting on emphasis on the bank’s pivotal role in promoting a long-term collaborative value.
As entrepreneurs inquired on acquiring guidance, support and networks to thrive in their business, the Managing Director, Abdi Mohammed, assured that the foundation will empower communities with the knowledge, skills and resources to create a positive scalable impact.