For many business leaders today, the most pressing goal is to deliver on business objectives, from innovation, profitability, inclusion, and sustainability. Market dynamics are shifting globally with evolving customer needs, and global challenges like inequality and climate change are making the way forward more uncertain and complex. In all this, nobody can do it alone, and strategic partnerships are crucial for business growth.
For financial institutions like NCBA Bank, partnerships are not just about capital or market access, but also about shared values. Over the years, partnerships and collaborations have become key in enhancing operations and impact, hence business growth. By working with others, NCBA Bank has been able to address challenges such as financial exclusion, financial literacy and sustainability to name a few.
A recent example of this commitment is NCBA’s partnership with Proparco, the private sector financing arm of the French Development Agency (AFD Group). Through a USD 50 million facility, the group shows its commitment towards mobilizing money toward green financing and empowering women and youth SME’s.
“NCBA Group endorses the same goals and values as Proparco. The positive role they play in tackling climate change through green projects, as well as social inequalities, resonates with our 2023-2027 Strategy. We are certain that this collaboration will enhance financial inclusion in Kenya, especially for women entrepreneurs, as the project has qualified for the 2X Challenge,” Emmanuel Haye, Head of Financial Institutions Africa at Proparco.
Another equally impactful partnership is NCBA’s collaboration with Edu Hub in an initiative to support students pursuing higher education both locally and abroad. Financial constraints are a major challenge in pursuing academic opportunities and the bank has developed tailored education loan facilities to address this. By providing flexible and affordable financing options, the bank is helping to make academic dreams more attainable for many Kenyan households.
“We are extremely proud of NCBA and Edu Hub for coming together to define the future of education diplomacy. This collaboration ensures that local and foreign students are able to get access to financial solutions, opening up unlimited possibilities and enhancing further global connections.” Amb. Joseph Warui, Deputy High Commissioner to the Court of St. James (Kenya High Commission – London).
Other partnerships that NCBA Bank has explored are with Kivukoni School to sponsor the 2024 Eco Festival in Kilifi, a community-driven initiative promoting climate change awareness and environmental conservation, and with Strathmore Business School to graduate 40 entrepreneurs through the Enterprise Development Programme.
These partnerships are not just goodwill initiatives. They are strategic, impactful to beneficiaries, and impactful in improving NCBA’s efficiency, especially given that all the partners are trusted partners. For instance, collaborations like the one with Edu Hub tap into existing education networks, making operations smoother. The one with Proparco is also highly efficient since it allows NCBA not only to implement the Change the Story initiative, but also to scale its green portfolio without overextending internal resources.
NCBA has integrated these partnerships into its core business operations, thus ensuring that the impact is maximized. The partnerships play into NCBA’s commitments under its ‘Change The Story’ agenda, especially in areas of SME development, education empowerment, and sustainable financing.
As the challenges facing businesses and communities grow, it is crucial that they adapt, and NCBA is leading the way with bold partnerships for maximum impact.
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