Financial Statements 2011 - Investing In Africa

Sustainability Statement 2011
As NIC Bank Group, we consistently take cognizance of the
fact that our sustainability and success is dependent upon
the environment and the communities in which we operate. It
remains our Group policy, therefore, to ensure that our activities
meet and exceed the social, economic and environmental
expectations of our stakeholders.
The Group primarily targets initiatives geared towards the
environment, education and financial literacy, emerging needs
and sports. This report on the performance of NIC Bank Group
in these areas during the year 2011 is part of our commitment
to transparency and accountability.
Environment
Education
In 2011 NIC Bank Group continued to channel its educational
support through established trusts, foundations and
organizations while also undertaking its own activities as
detailed below;
a) Palmhouse Foundation:
The foundation sponsors bright students from families
that are financially challenged who have gained
admission to national and provincial secondary schools
and most of whom have attended poorly equipped rural
primary schools.
Through a network of environment-conscious civil societies,
NIC Bank Group engaged Tupande Pamoja partners, namely,
The East Africa Wildlife Society, Kenya Forests Working
Group, Nature Kenya and the United Nations Environmental
Programme in a partnership dubbed “Building a Corporate
Social Responsibility Partnership for a Greener Kenya during
the 2011 International Year of Forests.”
While most of 2010 had been spent on monitoring the seedlings
that were planted the previous year, 2011 saw the Group join
hands with Tupande Pamoja partners to increase the forest’s
acreage by a further 10,000 seedlings covering five hectares,
and we have now covered 15 hectares since 2009. The initiative,
in which the Group has so far invested Shs 2 million, recognizes
the importance of the community in undertaking spot checks to
ensure the seedlings have taken root.
NIC Bank Group increased its sponsorship during the
year to Shs 600,000 and an additional 8 students were
included in the programme. The foundation currently
has 20 students on NIC Scholarships spread throughout
Kenya.
b) Edumed Trust:
This is a Kenyan Christian charitable trust which
supports education and medical needs of bright
students from needy families. The Group sponsored a
further 10 students by donating Shs 300,000.
c) Junior Achievement:
Junior Achievement Kenya is a member of Junior
Achievement Worldwide, one of the world’s largest and
fastest growing not-for-profit organizations committed
to inspiring and preparing young people to succeed in a
global economy.
Their programs are based on the three pillars:
• Entrepreneurship
The NIC Bank Group also supported the “Rhino Ark Trust”,
another initiative aimed at the conservation of the environment,
by sponsoring teams to the 2011 Rhino Charge. This is an
annual off-road motorsport competition that has been held in
Kenya since 1989. The event is held to raise funds for a very
noble cause – the conservation of Kenya’s Aberdare Ecosystem.
In 2011 Shs 75 million was raised during this event.
• Work readiness
• Financial literacy
The Group donated Shs 300,000 towards their programs
and also participated in the Job Shadow program which
gave high school students a chance to experience ‘a day
NIC Bank Limited • Annual Report & Financial Statements 2011 • 27