(Left) Prof. Charles O. A. Omwandho, Deputy Vice Chancellor -Academic, Research & Student Affairs at Kirinyaga University, exchange a handshake with Sidian Bank CEO, Chege Thumbi, after formalising an MoU at Kirinyaga University./HANDOUT
Sidian Bank has signed a Memorandum of Understanding (MoU) with Kirinyaga University in a strategic move aimed at enhancing financial support for the university's staff and operations.
The agreement will see the bank provide a range of financial products specifically designed for the university’s employees.
These include unsecured loans, asset financing, mortgages, and development loan facilities.
The goal is to ease financial access and promote staff welfare through a dedicated staff scheme.
In a statement, the bank confirmed that the partnership will go beyond individual support to address the broader operational needs of the institution.
“Through this partnership, Sidian Bank will also support the University’s operations with project accounts, fee collection accounts,” the statement read.
The two institutions will also “explore trade finance solutions for SMEs and individuals conducting business with the institution.”
As part of its strategy to deepen its footprint in the education sector, Sidian Bank intends to onboard faculty members via check-off loan arrangements.
This approach allows staff to access loans that are directly deducted from their salaries, offering convenience and improved loan management.
The bank is also setting its sights on students, with plans to introduce customised student accounts.
These accounts are expected to offer solutions tailored to young people’s banking needs, such as simplified savings and transactional services.
The partnership underscores Sidian Bank’s commitment to expanding its reach through strategic collaborations with educational institutions.
For Kirinyaga University, the MoU promises improved financial access for its community, including both staff and students.
This latest collaboration reflects a growing trend of banks forming partnerships with universities to deliver targeted financial solutions that address both institutional and individual needs.
