In a groundbreaking initiative, the EACCIA, in partnership with the European Business Institute in Luxembourg, will provide 28,000 scholarships worth nearly Ksh 4 billion. These scholarships aim to bridge the financial literacy gap faced by small and micro enterprises in East Africa.
Each member of the East Africa Community, including Kenya, Uganda, Tanzania, Rwanda, Burundi, Zanzibar, DRC Congo, South Sudan, and Somalia, will receive at least 2,000 scholarships. With each scholarship valued at 740 Euros (Ksh 130,000), this collaboration represents a historic investment of Ksh 3.6 billion.
The scholarship program, effective immediately, offers a three-month certificate course covering various subjects such as Business Management, Business Finance, Applied Blockchain Technology, Artificial Intelligence Integration, Micro and Macro Economics, Managerial Accounting, Entrepreneurship, and Communication.
President Richard Ngatia encourages entrepreneurs, especially the youth, to seize this opportunity and apply without delay. The scholarships will enhance human capital in the region, leading to better business management and sustainable growth.
The EACCIA and the European Business Institute will ensure a smooth transition from scholarship confirmation to course enrollment through designated contact persons in each of the 14 East African countries participating in the program.
This initiative aligns with the EACCIA’s mission to strengthen SMEs and informal sectors in the region while providing capacity-building interventions to national chambers of commerce. The collaboration also includes study tours and trade tours to facilitate peer education and learning from others’ experiences.
The EACCIA’s dedication to advancing education in East Africa has been recognized by the European Business Institute, which expressed gratitude for the collaboration.
Financial illiteracy remains a challenge in the region, with a significant percentage of the population lacking financial knowledge. This scholarship program aims to address this issue and promote a savings culture, ultimately boosting investments and economic growth.
We applaud President Richard Ngatia and the EACCIA for their commitment to empowering businesses through education. Together, we can create a brighter future for East Africa!
