KCB Bank commits Sh130m to support country’s drought response initiative
Kenya Commercial Bank (KCB) has committed Sh130million to support the country’s drought response initiative.
The funds will be channelled into government’s efforts in cushioning households hard hit by the ravaging drought and who now require an urgent supply of foodstuff and water.
The funds will be channeled through the Kenya Bankers Association-led drought response (Sh100 million) while the rest will be through the KCB Foundation, the social investment arm.
The bank, through the Foundation, has already distributed food to various counties including Kajiado, Wajir, Isiolo and is scheduled to reach 10 more counties that have been adversely affected by the drought.
“The support we are rolling out today is part of our commitment that looks at helping communities cope with the current situation even as the government steps up its mitigation measures. We are ready to walk hand in hand with various partners to ensure that adverse effects of the ongoing drought are contained within the shortest time possible,” said KCB Group CEO Paul Russo.
The ASAL region of Kenya has endured three severe droughts in the last decade (2010-2011, 2016-2017 and 2020-2022). The current drought has been the most severe and longest with widespread livelihood losses and massive displacement of populations.
Currently, more than 4.2 million people representing 24 per cent of the ASAL population are facing high levels of acute food insecurity with about 2.7 million people in the Crisis phase and 785,000 people in the Emergency state. This is a 10 per cent increase from the same period in 2021 where 2.1 million people were categorized as in an emergency and crisis state.