Alliance students to benefit from old boys fund

In Summary

• Club aims to raise Sh6.5 billion by the centenary anniversary of Alliance Boys School

• The fund will get a donation from every insurance product sold on the club networks

Christopher Kimaru, BimaNet Chairman, Mr. Daniel Ndonye Chairman, Alliance High School Endowment Fund, Wanjiru Githiomi- Nganga BimaNet CEO and Mr. Kihara Maina Treasurer of the Fund and CEO of I&M Bank pose with a cheque donation from BimaNet, Kenya's first insurance aggregator. The donation by BimaNet to the Endowment Fund follows an agreement to leverage the Alliance High School Old Boys Club networks to market the firm's flagship product dubbed Linda Fanaka.
Christopher Kimaru, BimaNet Chairman, Mr. Daniel Ndonye Chairman, Alliance High School Endowment Fund, Wanjiru Githiomi- Nganga BimaNet CEO and Mr. Kihara Maina Treasurer of the Fund and CEO of I&M Bank pose with a cheque donation from BimaNet, Kenya's first insurance aggregator. The donation by BimaNet to the Endowment Fund follows an agreement to leverage the Alliance High School Old Boys Club networks to market the firm's flagship product dubbed Linda Fanaka.
Image: courtesy

The old boys’ club, Alliance High School Old Boys Club (AHSOBC) has entered an agreement with local insurer BimaNet to help raise funds for the students’ endowment fund.

This year, the fund will disburse Sh1.3 million in scholarships for deserving students at the school.

The Endowment Fund plans to raise Sh6.5 Billion by 2025 when the school will be turning 100 years old. The money will be used to fund scholarships for deserving students from financially challenged backgrounds, improve and maintainance of the school infrastructure.

Alliance High School Old Boys Club has endorsed Linda Fanaka and allowed BimaNet to market the product through the club’s networks. For every product sold through this network, the Endowment Fund will receive a donation towards the big mission.

“We are pursuing a sustainable model of raising funds through the BimaNet platform and we look forward to achieving our big mission even sooner than expected,” Daniel Ndonye, Chairman of the club's endowment fund trust said during the first check handover.

The insurer's Linda Fanaka product  is a five-in-one bundle of life insurance benefits which provides protection and financial security to a member’s family in the event of death, hospitalization, disability or upon being diagnosed with a critical illness. 

The aggregator, a first of its kind in Kenya, is licensed so that individuals, SMEs, consultants and sole proprietorship businesses can access group life insurance cover at group rates, at lower rates.