President Richard Ngatia of the East Africa Chamber of Commerce, Industry, and Agriculture (EACCIA) has achieved a historic milestone by initiating a groundbreaking partnership with the European Business Institute in Luxembourg.
This collaborative effort aims to address the prevalent financial literacy gap among small and micro-enterprises in East Africa through the distribution of 28,000 scholarships valued at nearly KES 4 billion.
The partnership envisions providing a minimum of 2,000 scholarships to each member within the East Africa Community, including countries such as Tanzania, Rwanda, Burundi, Zanzibar, DRC Congo, Kenya, Uganda, South Sudan, and Somalia. With a value of 740 Euros (KES 130,000) each, the scholarships collectively represent a substantial investment of KES 3.6 billion.
Recognizing the crucial role of financial literacy in optimal decision-making and business growth, the collaboration introduces a comprehensive scholarship program. According to EACCIA President Richard Ngatia, the scholarships will cover a three-month certificate course from January to March.
The curriculum is designed to cover essential subjects including Business Management, Business Finance, Applied Blockchain Technology, Artificial Intelligence Integration, Micro and Macro Economics, Managerial Accounting, Entrepreneurship, and Communication.
Ngatia encourages entrepreneurs, particularly the youth, to seize this opportunity promptly, stating, “We are taking a significant step forward to enhance the human capital in our region so that businesses can be managed more effectively for improved results and sustainability.”
To streamline the scholarship process, the European Business Institute (EBU) 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.
The European Business Institute in Luxembourg expressed appreciation for East Africa’s business leadership’s steadfast dedication to promoting education in the region and across the African continent. The Institute stated, “We are honored to collaborate with the East Africa Chamber of Commerce, Industry, and Agriculture to make a positive impact through education.”
