Stanbic Bank Partners With Stakeholders To Empower 50,000 With Digital Skills

KEY POINTS
The pandemic has created a global economic crisis, forcing tens of millions of people out of work. Some of the jobs that have been lost will not be available again.
Kenya Government through the Ministry of Industrialization, Trade, and Enterprise Development are gearing up to impart digital skills to over 50,000 entrepreneurs in a new partnership with Stanbic Kenya Foundation and Microsoft Kenya.
This will be made possible through a partnership signed between the Ministry and Stanbic Kenya Foundation to enhance the employability of MSMEs and Kenyan citizens through digital upskilling.
The partnership will see private sector players address a digital skills gap within the market through the rich digital learning and skilling Initiative. The program will target individuals who have lost their jobs during the COVID-19 economic downturn that led to numerous job losses in the country.
Stanbic Bank and Microsoft Kenya will roll out the program across the various counties in Kenya with support from the Ministry and its supporting state agencies that will see a total of 1,000 government employees upskilled and seconded to the program as instructors. The program expects to place 2,000 youth into employment by the end of 2021.
Speaking during the launch of the partnership, the Cabinet Secretary for the Ministry of Industrialization, Trade and Enterprise Development, Hon. Betty C. Maina said, “The digital landscape is transforming rapidly, and Kenya must adapt to the new changes to keep the citizens employable. The Kenya Government believes technology will play a key role in transforming the economy and creating employment. In this regard, we welcome the private sector in supporting the government’s efforts to advance our digital strategy, particularly with regards to Industrialization, Trade, and Enterprise Development. This partnership between the Ministry, Stanbic Bank Kenya, and Microsoft will go along in enhancing the government’s investments in the capacity building and adoption of digital technologies which will give the country a competitive advantage.” The Ministry is open to working with the private sector in improving the trading infrastructure, close the growing skills gap, and increase opportunities that contribute to development.
The global labor market will need around 150 million new tech jobs over the next five years, with many other traditional jobs becoming tech-enabled.
Collective action must be taken right away to stem the employment impacts of the pandemic or further social and economic disparity, coupled with an ever-widened skilling gap will be experienced. This impact will stretch beyond the workforce, creating a systemic effect on the ability of companies, industries, and even countries to effectively respond and recover, let alone reimagine their economy in a post-pandemic world.
Speaking at the launch of the partnership, the Chief Executive for Stanbic Bank Kenya, Mr. Charles Mudiwa said, “We had set an initial target of 50,000 people in Kenya and will reach out to more in subsequent phases as we work to empower and uplift Kenyans to continue innovating themselves and to achieve their dreams.” He added that the initiative is aligned to Kenya Government’s Digital Economy Blueprint.
In the advent of COVID-19, several institutions and organizations are changing their business models and turning to digital platforms to stay connected with their customers and other key stakeholders. COVID-19 has also led to job losses and the need for people to re-toll. This digital initiative is set to be rolled out across the country in various counties with the training taking place in select institutions facilitated by the Ministry of Industrialization, Trade and Enterprise Development.
“At Microsoft, equipping citizens with adequate resources and technology so that they are able to upskill and reskill has always been at the center of our work. Particularly in the current landscape, securing partnerships with like-minded organizations such as Stanbic Bank Foundation and the Ministry makes complete sense if we are to reach and scale for maximum impact and successfully curb the impact of the pandemic.
Addressing the growing skills gap within Kenya through both short- and longer-term initiatives such as this will continue ensuring that youth within the region are able to gain employment and address socio-economic issues at a grassroots level,” says Kendi Nderitu, Country Manager at Microsoft in Kenya.
Kenya, like many other African economies, will experience a surge in digital skills in the near future. With the growing youth population, governments are turning towards private sector players to support in building their capacity and contributing towards helping the economy recover from the impact caused by the pandemic.
The Stanbic Kenya Foundation Chair, Ms. Ory A Okolloh noted that “There is a great need to build the capacity of Micro-Small and Medium Enterprises through training, coaching, and mentorship to enhance their survival rate, grow to large enterprises, and to be more competitive. There is a great need for technical and soft skills development.”
The partnership serves as a demonstration of the role that private sector players can have in driving economic growth by partnering with government institutions in their efforts in building the capacity of the nation.
About Soko Directory Team
Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory
- January 2025 (119)
- February 2025 (191)
- March 2025 (212)
- April 2025 (193)
- May 2025 (161)
- June 2025 (157)
- July 2025 (226)
- August 2025 (211)
- September 2025 (270)
- October 2025 (40)
- January 2024 (238)
- February 2024 (227)
- March 2024 (190)
- April 2024 (133)
- May 2024 (157)
- June 2024 (145)
- July 2024 (136)
- August 2024 (154)
- September 2024 (212)
- October 2024 (255)
- November 2024 (196)
- December 2024 (143)
- January 2023 (182)
- February 2023 (203)
- March 2023 (322)
- April 2023 (297)
- May 2023 (267)
- June 2023 (214)
- July 2023 (212)
- August 2023 (257)
- September 2023 (237)
- October 2023 (264)
- November 2023 (286)
- December 2023 (177)
- January 2022 (293)
- February 2022 (329)
- March 2022 (358)
- April 2022 (292)
- May 2022 (271)
- June 2022 (232)
- July 2022 (278)
- August 2022 (253)
- September 2022 (246)
- October 2022 (196)
- November 2022 (232)
- December 2022 (167)
- January 2021 (182)
- February 2021 (227)
- March 2021 (325)
- April 2021 (259)
- May 2021 (285)
- June 2021 (272)
- July 2021 (277)
- August 2021 (232)
- September 2021 (271)
- October 2021 (304)
- November 2021 (364)
- December 2021 (249)
- January 2020 (272)
- February 2020 (310)
- March 2020 (390)
- April 2020 (321)
- May 2020 (335)
- June 2020 (327)
- July 2020 (333)
- August 2020 (276)
- September 2020 (214)
- October 2020 (233)
- November 2020 (242)
- December 2020 (187)
- January 2019 (251)
- February 2019 (215)
- March 2019 (283)
- April 2019 (254)
- May 2019 (269)
- June 2019 (249)
- July 2019 (335)
- August 2019 (293)
- September 2019 (306)
- October 2019 (313)
- November 2019 (362)
- December 2019 (318)
- January 2018 (291)
- February 2018 (213)
- March 2018 (275)
- April 2018 (223)
- May 2018 (235)
- June 2018 (176)
- July 2018 (256)
- August 2018 (247)
- September 2018 (255)
- October 2018 (282)
- November 2018 (282)
- December 2018 (184)
- January 2017 (183)
- February 2017 (194)
- March 2017 (207)
- April 2017 (104)
- May 2017 (169)
- June 2017 (205)
- July 2017 (189)
- August 2017 (195)
- September 2017 (186)
- October 2017 (235)
- November 2017 (253)
- December 2017 (266)
- January 2016 (164)
- February 2016 (165)
- March 2016 (189)
- April 2016 (143)
- May 2016 (245)
- June 2016 (182)
- July 2016 (271)
- August 2016 (247)
- September 2016 (233)
- October 2016 (191)
- November 2016 (243)
- December 2016 (153)
- January 2015 (1)
- February 2015 (4)
- March 2015 (164)
- April 2015 (107)
- May 2015 (116)
- June 2015 (119)
- July 2015 (145)
- August 2015 (157)
- September 2015 (186)
- October 2015 (169)
- November 2015 (173)
- December 2015 (205)
- March 2014 (2)
- March 2013 (10)
- June 2013 (1)
- March 2012 (7)
- April 2012 (15)
- May 2012 (1)
- July 2012 (1)
- August 2012 (4)
- October 2012 (2)
- November 2012 (2)
- December 2012 (1)