The Kenya Commercial Bank (KCB) is going all out to upscale its 2jiajiri program which is aimed at supporting entrepreneurs. It has entered into partnership with Oracle, a leading technology firm, to create programs to link entrepreneurs to 2jiajiri.
2jiajiri is described as a “Shs50 billion job creation program” under which KCB hopes to develop many skills including those of plumbers, electricians, housekeepers among others which are on demand.
The bank’s problem is however, how to find effective ways of reaching people who would benefit from the program. “If we hack it through technology then we will be able to create job opportunities just by a click of a button,” says Jane Mwangi, KCB Foundation director.
KCB will use Oracle’s 200 strong technology solutions developers base in a contest to develop technology to reach the target audience.
The partnership, according to Bank’s Chief Executive Joshua Oigara is part of the investments KCB is making to improve its ability to compete in the digital money market which it regards as key for its growth.
The goal of the project is to tap into the growing market of entrepreneurs who have a high multiplier effect. “We have therefore envisioned a program along these lines that will facilitate growth of each business and create additional employment opportunities.” Said Mr Oigara adding, “The future of banking is digital and we are deliberately aligning ourselves to this.”