Home ECONOMY Co-op Bank donates Sh100m for coronavirus fight

Co-op Bank donates Sh100m for coronavirus fight

by biasharadigest
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Co-op Bank donates Sh100m for coronavirus fight

Gideon Muriuki
Co-op Bank chief executive Gideon Muriuki. FILE PHOTO | NMG 

Co-operative Bank of Kenya #ticker:COOP has donated Sh100 million to the private sector-led Covid-19 Emergency Response Fund that was set up recently to gather resources for fighting the spread and impact of the virus.

The lender’s managing director Gideon Muriuki said the cash contribution is in recognition of the need by corporates and individuals to put resources together to source for critical medical supplies and equipment such as ventilators.

Mr Muriuki on Monday wrote to Kenya Breweries Limited managing director Jane Karuku, who heads the fund, informing her about the cash donation.

“The board of directors and staff of Co-op Bank is honoured to support with a key cash contribution of Sh100 million, preferably to be allocated towards purchase of critical ventilators,” said Mr Muriuki.

“We appeal to other corporate institutions and Kenyans of goodwill to join hands and support this most worth once-in-a-generation fight.”

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Co-op’s cash contribution adds to the expected receipts from individual Kenyans, local corporates, multinational companies and development partners.

Salary cuts made by President Uhuru Kenyatta, his deputy William Ruto and other officials in the Executive, Judiciary, Legislature and county governments as well as exchequer contributions will also go to this fund.

Kenya had confirmed 142 Covid-19 cases by Sunday after 16 more people tested positive. The Ministry of Health warned that this may hit 10,000 by end of this month, if its social distancing and hygiene measures are not adhered to.

Devki Steel Mills last week pledged to donate Sh100 million worth of oxygen to public hospitals amid the coronavirus pandemic.

The steel company owned by billionaire Narendra Raval, also a member of the Covid-19 Emergency Response Fund, informed the Ministry of Health that the donations will be available for collection from their Mombasa, Athi-River and Ruiru plants.

Kenya has also received 250 ventilators from the World Bank and 20,000 testing kits from Chinese billionaire and co-founder of e-commerce multinational Alibaba, Jack Ma to help contain the pandemic.

The country is facing shortage of medical supplies and crucial equipment such as ventilators and oxygen cylinders.

Health Cabinet Secretary Mutahi Kagwe warned that hospitals might be overstretched in the coming days should there be a steep increase in infections.

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