Guests arrive during the official launch of the Kenya Re Foundation/HANDOUTKenya Re has launched an ambitious education foundation that will sponsor some of the country’s brightest but most vulnerable students to study at Ivy League universities, in what the reinsurer says is a long-term investment in Kenya’s human capital.
The Kenya Re Foundation will select 10 Form Four leavers every year for the programme, targeting candidates who attain straight As in all subjects in the Kenya Certificate of Secondary Education (KCSE).
Kenya Re Group Managing Director Hillary Wachinga speaks during the launch./HANDOUTBut academic excellence alone will not guarantee a place. According to Kenya Re Group Managing Director Hillary Wachinga, the beneficiaries must also be total orphans without guardians, a criterion intended to identify exceptionally talented students who may otherwise lack the financial support required to pursue world-class education.
National Treasury CS John Mbadi with Kenya Re Group Managing Director Hillary Wachinga speaks during the launch./HANDOUT
The programme will draw students from across the country, with eight beneficiaries representing the eight former provinces and two additional slots reserved for Nairobi, owing to its status as the capital and its diverse population.
The first cohort is expected to be recruited in February next year.
Speaking during the launch of the foundation in Nairobi, National Treasury Cabinet Secretary John Mbadi challenged educationists and other stakeholders to invest more in education and ensure that school leavers are adequately prepared for a changing labour market.
Mbadi said Kenya had established itself as a regional leader in human capital, but warned that the country must continuously retrain and equip its workforce with skills demanded by emerging industries.
He cited Nigerian billionaire Aliko Dangote, who has indicated that he plans to establish a college to retrain Kenyan engineers in preparation for operations related to the oil refinery in Lamu.
Mbadi said the example should serve as a challenge for Kenya to strengthen its workforce and ensure that its people are prepared to take advantage of emerging economic opportunities.
Kenya Re has committed Sh78.47 million as seed capital for the foundation and is seeking between Sh30 million and Sh50 million from partners to expand the initiative.
The corporation says the programme is not merely about sending students to prestigious universities. It expects the beneficiaries to return with expertise and international exposure that can contribute to Kenya's industries, with some potentially becoming future leaders in the insurance sector.
The foundation builds on Kenya Re's wider social investment programme, including the Niko Fiti campaign, which has focused on supporting people living with disabilities through assistive devices and other interventions, as well as environmental conservation.
With the new foundation, Kenya Re is shifting part of its social investment towards a longer-term bet on talent — identifying exceptional students, giving them access to elite education and ultimately seeking to channel their expertise back into the Kenyan economy.
