Credit Bank and Absa Bank Plc have joined a growing list of corporates making an impact during the COVID-19 pandemic
On Tuesday credit bank said it had contributed Sh3 million funding into the Kenya COVID -19 Emergency Response Project that was set up recently to gather resources to fighting the spread and impact of the virus.
Absa on the other hand states that it has contributed Sh50 million, a sum of KSh 20 million will be channelled directly to the Covid-19 emergency fund, whereas Sh30 million to various initiatives specifically designed to help individuals and businesses get through this pandemic.
The principal objective of the Fund created by President Uhuru on April 1 is to mobilise resources for an emergency response towards containing the spread, effects and impact of the COVID-19 pandemic.
So far the fund has been able to raise in terms of cash Sh917,768,950.00, food and non-food items worth Sh370,300,000.00 bringing the total contribution to Sh1,288,068,950.00
“The COVID-19 pandemic is primarily a health crisis and a human tragedy, but it also has far-reaching economic disruptions. It is already disrupting millions of people’s livelihoods, impacting on households and small and informal businesses hence Credit Bank is glad to be part of the private sector and development institutions that are expanding efforts to safeguard economies, livelihoods and health needs across Kenya,” said Credit Bank CEO Betty Korir.
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.
The COVID-19 Emergency Response Fund Board was recently setup by the president to aid immediate priorities that are to support the government’s efforts in the supply of medical facilities, equipment and provision of basic needs towards vulnerable communities.
Additionally, Absa bank plans to roll out business resilience training and mentorship programs for SMEs to help them survive this difficult time.
Worldwide cases have surpassed 2.5 million, more than 700,000 have recovered with nearly 180,000 dying. Of the 2.5 million cases, over 1.6 million people are mild while 57,000 are in critical condition.
In Kenya, the coronavirus cases have since reached 296. total recoeveries as of yesterday stands at 74. Fourteen people have since succumbed to the disease.
Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]