The Cooperative Bank has joined its counterparts, Equity and Kenya Commercial Bank, in providing scholarships to bright but needy students to pursue secondary education.
A total of 655 students across the country are set to benefit this year from the Co-op Foundation Scholarship Scheme launched in 2007.
This will now bring the total number of beneficiaries to 3,400 but the bank hopes the number will stand at over 5,000 students in three years.
In a statement, the bank’s Group Chief Executive Gideon Muriuki on Thursday said the students would be selected at the grassroots level by co-operative societies through a national delegates system.
“Co-operative societies, who are the face of Kenya, identify well-performing students from disadvantaged backgrounds and bring these names into a regional forum where delegates debate and select the most deserving cases,” he said
“At the banks’ head office, our role is to process payments to the schools and monitor the students’ performance through the four years in secondary school.”
Coop Bank joins Equity bank and KCB, which announced award of 2,000 and 200 scholarships, respectively, to needy but bright students this year.