Corporate Philanthropy in Kenya: Debunking myths and realities
The Aga Khan Foundation with support from USAID under the Yetu Project, in collaboration with Strathmore University Foundation, released its findings of a ground-breaking study on Corporate Philanthropy in Kenya, on Wednesday May 9th 2018. The event took place at Strathmore University Business School.
The study revealed key players in corporate philanthropy, and established drivers, deterrents and opportunities for corporate philanthropy in Kenya.
Corporate contribution to the community has come a long way over the years – from one-off charity giving to more business/corporate philanthropy, and; to some extent, a more strategic focus with an emphasis on selected partnerships with Civil Society Organizations/NGOs. Key findings indicate that Manufacturing, ICT/Technology, Banking and Finance sectors emerge as the most notable players having consistently given KES 1 million and above between 2014 and 2016.
Key guests Dr. Manu Chandaria – Industrialist; Patrick Sikana – Regional Programme Director AgaKhan Foundation; Stephen Braga – Director USAID; Wavinya Muigai – HELB; Jane Kilonzo – Bank of Africa; Joy Namasaka – I&M bank represented among sixty top companies engaged in CSR that attended the event.
Dr. Chandaria discussed the need to be impactful in society. In his address, Dr. Chandaria highlighted compassion as a drive to philanthropy. “This is the time corporates need to start thinking about how well to impact the community. How do we create the need for compassion? Compassion is the beginning of philanthropy. We started the Chandaria Foundation when we had nothing, to keep us focused on our responsibility to give should we create wealth,” he stated.
CEO Aga Khan Foundation East Africa – Graham Wood – was delighted with the release of the Corporate Philanthropy report stating that it was produced at a time when funding from traditional sources was drying up.
About Strathmore University Foundation
Strathmore University Foundation is a subsidiary of Strathmore University, with a vision to transform higher education in Africa through ethical philanthropy. The foundation is keen on promoting good business among the corporate sector in Kenya and beyond. Being a key player in higher education, the foundation is promoting corporate engagement that contributes to sustainable impact and the advancement of communities in Kenya.
Yetu is an initiative supported by Aga Khan Foundation and USAID that seeks to strengthen the ecosystem for local philanthropy by building assets, capacity and trust in addressing community needs. Yetu strives for a more effective and sustainable community response within the current context of dwindling donor-funding and inadequate ownership of development initiatives.