13th April 2023, Nairobi – I&M Foundation has signed a KES 6.25M grant to enable over two dozen students living in informal settlements in Nairobi to learn software development. This grant is in partnership with Moringa School to support the Access Program that seeks to build a pipeline of young technology talent between 18 to 35 years of age; a third of which is dedicated to female students.
Speaking on the partnership, Moringa Schools’ CEO, Mr. Snehar Shah, highlighted:
“The role of education and skills development in promoting innovation is critical for a Digital Revolution. However, this remains out of reach for many of the youth living in Kenya due to a lack of opportunities. We are pleased to enter this partnership with I&M Foundation to further empower a generation of students who are passionate about technology and create opportunities for growth and development.”
Mr. Snehar Shah added: “Through this partnership, the knowledge gained at Moringa School will prepare the students to become distinguished mobile and web developers and have a profound impact on economies and societies at large.”
According to the Kenya Ministry of Education, about 80% of high school graduates in Kenya do not qualify for university forcing many youths into unemployment. Further, the traditional education system is not addressing the scale and nature of opportunities that exist within the technology sector.
Commenting on the partnership, I&M Foundation Trustee and Group Executive Director, I&M Group PLC, Mr. Sarit Raja Shah, noted:
“Software development job opportunities are projected to increase by over 25% globally. In line with its Education and Skills Development Pillar, I&M Foundation sees the opportunity to enhance the education outcomes of underserved youth in Kenya to ensure inclusive and equitable quality education in Digital technology. The Access Program offered by Moringa School lays a rich foundation, combining practical projects with relevant technologies and up-to-date course content. We look forward to a successful program that enables and equips students to find employment in the Digital space,” said Mr. Shah.
In a recent report by the Kenya National Bureau of Statistics (KNBS), the number of unemployed Kenyans increased by 2.94% to 2.97 million as of the end of 2022, up from 2.89 million reported in the third quarter of 2022. Moreover, more than half of these unemployed Kenyans are youth aged between 20 and 29 years.
As part of supporting employment opportunities for the youth, during the 24-week bootcamp, the students will receive training on employable skills as well as join a graduate support team that will actively support the graduates to find employment opportunities. Additionally, Moringa School has partnered with iTalanta, a Kenyan based organisation that performs Software Development work for European SMEs, where students will work on real life projects and gain real life experience.
In addition to this partnership on the Access Program, I&M has been providing internship opportunities for students from Moringa School at the Bank’s Digital Factory; iCube. The Bank plans to employ high performing students graduating from this internship programme to take up permanent roles in the financial institution.
About I&M Foundation
The I&M Foundation spearheads the Shared Value Agenda for I&M Bank to deliver positive impact to society and is charged with the responsibility of delivering social investment programs. The Foundation responds to the needs of vulnerable marginalised communities in Kenya in key strategic thematic areas namely, Environmental conservation, where we preserve, protect, and restore the environment and promote sustainable use of ecosystems; Education and skills development, where we enhance education outcomes and value-addition life-skills that ensures inclusive and equitable quality education; Economic empowerment, where we promote sustainable economic growth and transform livelihoods; and Enabling giving, where we strengthen partnership for sustainable community development. For more information visit www.imbankgroup.com
I&M Bank Media Contact
Head of Marketing & Communication
T: + 254 719088205