Kenya’s higher education sector is set for a major boost after Kenya Commercial Bank (KCB) signed a partnership with 29 public and private universities to provide tailored financial, infrastructure and digital solutions.
The deal covers the entire university ecosystem from students, teaching and non-teaching staff, suppliers and neighbouring communities, aiming to close funding gaps, strengthen operations and build institutional resilience.
KCB Bank Kenya Managing Director Annastacia Kimtai said the initiative is part of the bank’s 2024–2026 strategy Transforming Today Together, which focuses on co-creating value with institutions that shape the country’s future.
“Kenya’s higher education landscape is shifting dramatically. Public university enrollment rose by 9.5% in 2024 to approximately 680,000 students. But while access is expanding, institutions face serious financial challenges. At least 23 universities risk insolvency,” Kimtai said.
To address these challenges, KCB will introduce operational financing for universities, including project funding, infrastructure development loans, working capital support, digital cash management systems, and green climate finance for solarisation and clean energy adoption.
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staff will benefit from affordable mortgage packages pegged at a fixed rate of 9.5 percent repayable over 25 years, as well as personal loans, prepaid cards, insurance cover, pension schemes and asset financing.
Students will access financial products such as bank accounts, prepaid cards for money management, and digitized payment systems to make fee transactions easier. The bank will also focus on employability through a three-month internship programme targeting over 10,000 students annually.
“Tertiary institutions produce over 60,000 graduates annually, but many end up in low skill jobs or unemployed. Through internships, we aim to bridge the gap between learning and the world of work,” Kimtai noted.
She added, “We are stepping in to strengthen operations, modernize infrastructure, and empower the people who power our education system. This is a shared commitment to a more resilient, inclusive, and sustainable future.”
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The partnership also extends to SMEs and suppliers within university networks. Through the Partner Kwa Ground initiative, small businesses will receive affordable credit, training and mentorship to grow their operations.
Additionally, KCB Foundation will collaborate with universities to promote environmental conservation, skills development under the 2Jiajiri programme and scholarships for disadvantaged students.
Principal Secretary for Higher Education Dr. Beatrice Inyangala welcomed the initiative, saying it complements government efforts to make higher education more accessible, sustainable and digitally enabled.
“We are seeking to collaborate with the private sector to transform higher education. This initiative is timely and strategic, especially as public universities grapple with funding gaps,” Dr. Inyangala said.
By Benedict Aoya
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