Ngatia Paves Way For EACCIA With Sh4 Billion Scholarships

The East Africa Chamber of Commerce, Industry, and Agriculture (EACCIA) President Richard Ngatia. PHOTO/ EACCI

NAIROBI, Kenya- Small and medium-sized enterprises (SMEs) within Kenya and the East African region are set to benefit from an international scholarship program that will help to bridge the literacy gap within the sector.

The Sh 4 billion scholarship, set to benefit 28,000 recipients, has been made possible by the effort of East Africa Chamber of Commerce, Industry, and Agriculture (EACCIA) President Richard Ngatia.

Ngatia has orchestrated a groundbreaking partnership with the European Business Institute (EBI) in Luxembourg that will aid the noble cause.

Ngatia underlined that the super deal will help the SMEs in various avenues like financial literacy, optimal decision-making, expansion and growth of their businesses.

The EBI plans to allocate a minimum of 2,000 scholarships to each member of the East African Community, which includes Tanzania, Rwanda, Burundi, Zanzibar, DRC Congo, Kenya, Uganda, South Sudan, and Somalia.

Valued at 740 Euros (Ksh 130,000) each, the scholarships collectively represent a significant investment of Ksh 3.6 billion.

Ngatia outlined that the scholarships will cover a three-month certificate course from January to March. The curriculum includes crucial subjects such as Business Management, Business Finance, Applied Blockchain Technology, Artificial Intelligence Integration, Micro and Macro Economics, Managerial Accounting, Entrepreneurship, and Communication.

Expressing his enthusiasm, Ngatia urged entrepreneurs, especially the youth, to seize this opportunity promptly.

He emphasized, “We are making a big step forward to improve the human capital in our region so that businesses can be managed better for improved results and sustainability.”

The EBI in Luxembourg expressed gratitude for the collaboration with the EACCIA, commending East Africa’s business leadership for its unwavering commitment to advancing education in the region and across Africa.

“We are honored to collaborate with the East Africa Chamber of Commerce, Industry, and Agriculture to make a positive impact through education,” EBI stated.

Under Ngatia’s leadership, the EACCIA has previously successfully awarded similar scholarships to women in the business chapter of the Kenya National Chamber of Commerce and Industry (KNCCI).

To streamline the scholarship process, the EBI and EACCIA will facilitate an efficient transition from confirmation to course enrollment through designated contact persons in each of the 14 East African countries participating in the program.

In the wake of expanding its membership beyond East Africa, the EACCIA now includes Comoros, Ethiopia, Mozambique, Madagascar, Seychelles and Zambia.

Alongside supporting SMEs and informal sectors, the organization strategically focuses on capacity-building interventions for national chambers of commerce across the region.

Ngatia, a prominent figure in various global business councils and associations, has significantly increased KNCCI’s membership during his tenure. His leadership roles include being a member of the International Chamber of Commerce (ICC) World Chambers Federation (WCF) General Council, chairman of the International Conference on the Great Lake Region-Private Sector Forum-ICGLR in Africa, deputy patron of the Kenya National Federation of Jua Kali Association, and a board member of the East Africa Chamber of Commerce, Industry, Agriculture, as well as Trustee PERAK.

The East Africa Chamber of Commerce, Industry, and Agriculture (EACCIA) President Richard Ngatia. PHOTOS/ EACCI

In addition to the scholarships, EACCIA actively seeks opportunities to support learning processes through study tours and trade tours, fostering a peer education strategy where traders learn from the experiences of others.

Highlighting the critical issue of financial illiteracy in the region, Ngatia referred to the Global Financial Literacy Survey, revealing significant percentages of financially illiterate populations in Kenya, Uganda, Tanzania, and South Africa. The scholarship initiative is poised to address this challenge, contributing to a stronger savings culture for the region.

Ngatia strongly believes the scholarships will create a long-lasting impact in economies of the East African states.

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