Barclays funds university research in Kenya

August 11, 2009
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, NAIROBI, Kenya, Aug 11 – Barclays Bank of Kenya  on Tuesday announced a Sh12 million commitment to further research at the University of Nairobi.

The investment towards the development of business and economic studies is part of Barclays global strategy to foster economic progress in the countries in which the bank operates.
 
Speaking during the announcement at the UON office of the Vice Chancellor, Mr Frits Seegers, Barclays Chief Executive Officer of Global Retail and Commercial Banking (GRCB), said that Barclays is committed to investing in Kenya and across Africa.
 
“We are proud of our Kenyan business under the leadership of Adan Mohamed,” said Mr Seegers.  “We are committed to growing our presence in Kenya and we must do this in step with the development of our talent pool.”
 
“This investment is a testament to the quality of education provided by the University of Nairobi. Many graduates from the University are already enjoying successful careers within Barclays,” added Mr Seegers.
 
The University of Nairobi Vice Chancellor Professor George Magoha said investment will go towards establishing a chair at the College of Humanities and Social Sciences.
 
“Barclays has been a longstanding partner with the Ministry of Education and we are very happy that they have taken this partnership further,” said the Vice Chancellor.  “Our students will benefit from this resource for the long term.”
 
The Vice Chancellor said further details on the chair funded by Barclays will be finalised between his office and the College of Humanities and Social Studies, and made public in the coming week.
 
In the last five years, Barclays has invested more than Sh105 million towards public education in Kenya. In addition, Barclays recently launched a scholarship programme with the Teachers Service Commission, providing 11 secondary and primary school teachers with tuition to complete their undergraduate and post graduate studies at Kenyatta University.

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