In a bright move towards a cleaner future, KCB Bank, through its social investment arm, KCB Foundation, has unveiled an exciting plan to support learning institutions in adopting clean energy cooking solutions. It’s like they’re giving schools a green makeover!
Under this program, KCB Foundation will generously offer a partial grant ranging from 10% to 30% of the cost of purchasing and installing Liquified Petroleum Gas (LPG) equipment. That’s right, they’re putting their money where their mouth is. The remaining funds will be made available through tailored financing solutions and will be accessible to all secondary schools, whether they’re public or private, across the country.
Why, you ask? Well, it turns out that Kenyan schools are guzzling up a significant chunk of fuel by using firewood for cooking. Can you believe that around 90% of public schools rely on firewood, burning through their budgets to the tune of up to $20,000 per year? That’s enough wood to build a forest of desks! It’s time to change the game and save some trees, don’t you think?
Caroline Wanjeri, the Head of KCB Foundation, highlighted the importance of this clean cooking initiative. She proudly stated that it’s a testament to the bank’s commitment to supporting Africa’s journey towards achieving SDG 7. What’s SDG 7, you ask? Well, it’s all about universal access to modern energy services. In other words, they want to make sure everyone has access to clean and modern energy, and they’re starting with schools.
Wanjeri further explained how this move will make a positive impact. By transitioning to clean and modern cooking solutions, schools will reduce their fuel consumption, emit fewer greenhouse gases, and limit those pesky smoke emissions. It’s like a breath of fresh air for Mother Earth!
Did you know that schools in Kenya are responsible for consuming a whopping 685,000 tons of firewood and charcoal per year? That’s enough firewood to build a wood-powered rocket to the moon! This heavy reliance on inefficient cooking has severe consequences for the environment, economic development, and public health. KCB Bank is taking the lead to change that by positioning schools as the driving force behind Kenya’s sustainable future. It’s time for schools to shine as beacons of affordable, reliable, clean, and modern energy for all.
To date, KCB Bank has already disbursed loans totaling KShs. 60 million to 30 schools across the country. As if that weren’t enough, KCB Foundation has also generously granted KShs. 30 million during the pilot phase. They’re really putting their money to good use, helping schools make the switch to greener pastures.
Caroline Wanjeri couldn’t contain her excitement as she highlighted the bank’s commitment to climate action and carbon-positive projects. By supporting the transition to cleaner fuels like LPG, they’re enabling schools to save up to 40% on their cooking budget. That’s like finding treasure in the school kitchen! Not only that, but it also means better health and environmental outcomes, improved kitchen hygiene, and happier workers. It’s a win-win situation.
This initiative is just one piece of the puzzle for KCB Bank. They’ve been actively involved in their own greening program called “Linda Miti,” where they’ve planted over 160,000 trees in 943 schools this year. They’re like the Johnny Appleseeds of banking!
So, get ready to see schools across the country shining bright with clean energy. Thanks to KCB Bank’s visionary plan, our future is looking greener, healthier, and more sustainable. Let’s cook up a better world together!