Co-operative Bank Aims to Deepen Collaboration with NGOs for Sustainable Development

Co-operative Bank of Kenya (Co-op Bank) has unveiled plans to strengthen its partnership with public benefit organizations (NGOs) to support their community transformation efforts.

This announcement came during a forum co-hosted by the bank and the Public Benefit Organizations Regulatory Authority (PBORA) aimed at discussing strategies to enhance collaboration between banks and NGOs.

The forum, themed “Collaborative Approach to Transforming Our Communities,” took place on October 4, 2024, at the Radisson Blu Arboretum.

The Principal Secretary for Internal Security and National Administration, Raymond Omollo, commended the vital role of NGOs in the country, addressing attendees through a representative.

Lydia Rono, Co-op Bank’s Director of Corporate and Institutional Banking, reaffirmed the bank’s dedication to supporting NGOs.

“At Co-op Bank, we have developed tailored funding models specifically for NGOs, which include Working Capital Financing, Cash Management services, and Development Training,” she noted. “We also offer a Church Pension Scheme to ensure that staff of faith-based organizations are well-prepared for retirement.”

Rono further explained that the bank aims to create a conducive environment for NGOs by providing capacity-building, technical assistance, and innovative financing solutions.

“Our goal is to streamline financial management for NGOs and make it as seamless as possible,” she stated.

The forum gathered representatives from NGOs, government agencies, and the private sector to address the challenges and opportunities within the NGO sector.

Through these strengthened partnerships, Co-op Bank seeks to contribute to the sustainable development of communities across Kenya.