KCB, NCBA responds with Sh 250 million to the coronavirus kitty

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KCB and NCBA bank have funded the Kenyan government with sh 250 million sets to help in the fight against coronavirus.  

KCB Group has contributed Sh 150 million while NCBA has given Sh 100 million. Co-operative Bank has also funded the government with Sh 100 million, raising the total funds from the level 1 banks to Sh 350 million.

UBA Kenya and Ecobank have also given out Sh 15 million and Sh 10 million respectively. 

On Thursday president Uhuru confirmed that the kitty has close to Sh 1 billion as multinationals, corporates, development partners and individuals continue to make their contributions.

The National Business Coalition of Kenya has contributed Sh 70 million. Oxygen valued has contributed Sh 100 million while Safaricom and the United States government have each pledged Sh 200 million and Sh 106 million respectively.

President Uhuru and his deputy William Ruto salary cuts are also among the contribution made to the kitty among other government official salary cuts.

“This fund should be responsive, should not be encumbered by bureaucracy and must be open to innovation and technology in the delivery of assistance to our people,’’ said Uhuru Kenyatta on Thursday.

Coronavirus, which was first reported last year December in China has affected 262 people in the Kenya of which 60 of these have recovered, and 13 have died.  

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Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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