Sixty-five percent of corporates prefer partnering with local Kenyan non-profit organisations according to a report on philanthropy in the country.
The Yetu Initiative supported by the Aga Khan Foundation and USAID latest ‘Report on Nature, Trends and Engagements By Corporates In Philanthropy’ observes that consistent with similar studies, Manufacturing, ICT/Technology, Banking and Finance sectors emerge as the most notable players in Corporate Philanthropy in Kenya.
According to the report, most corporates are more likely to fund education and skill development programs.
49 percent prefer funding education and skills development, 16 percent (health), 14 percent (poverty reduction), 8 percent (economic and enterprise development). Surprisingly, only 2 percent prefer funding food security and environmental initiatives.
Further, corporates are more concerned with the impact (27 percent) the initiative will have to the target communities, the credibility of the organization (22 percent), the composition of the governing board and track record in similar projects at 16 percent.
On the other hand, only 61 percent of companies, corporate Philanthropy falls within a specific department, but 43 percent of them approve Philanthropy budgets annually.
“There is a general increase in the number of corporates willing to provide between KES 500,000 – KES 5,000,000 for philanthropy. With a growing focus on in-kind and non-financial support by many corporates,” reads part of the report.
The Yetu Initiative empowers Kenyans to say,“These are our concerns, these are our solutions and these are our contributions.” The initiative is supported by the Aga Khan Foundation and USAID.
