Absa has led partners in fundraising for cancer in this year’s NSE Charity Trading, a move that it says cements its citizenship agenda for the continent.
Absa serving Kenya as Barclays Bank was the lead sponsor, in what Anthony Kirui, the Head of Markets said championing health is a noble course for them as a financial service provider and responsible citizen of the continent.
The 2019 NSE Charity Trading Day focused on health with special emphasis on supporting cancer prevention and related initiatives and programs. Strategic investments in health-related initiatives yield significant development benefits for the country and communities, a move echoed by the Chief Guest Cabinet Secretary for Health Sicily Kariuki.
During the hour-long trading, more than half a billion shillings was traded. The Nairobi Security Exchange (NSE) fees and stock brokerage fees derived from this trading is what will be used to support the cancer initiative. This year, the lead beneficiary is the National Cancer Institute.
The monies raised are meant to establish a robust database of the cancer scourge in the country, the third leading cause of death. The database will be crucial to establish more accurate information on prevalence, spread and patterns for better health outcomes. “We are happy to support efforts that focus more on prevention and screening to reduce the fatalities”, Kirui noted.
At the event, M.P Shah Hospital offered free breast and prostrate cancer screening.
According to Health Cabinet Secretary Sicily Kariuki, there are over 48,000 new diagnoses made every year and over 33,000 deaths per year from cancer and related illnesses. The trends can better be reversed through data and prevention mechanisms.
The Cabinet Secretary asked NSE and Barclays to also consider making the 2020 Charity trading on Cancer, even if in a different segment.
It is the third year that Barclays is taking part, being the main sponsor for the second year in a row.
Since its inception, the Charity Trading Day has raised over sh30 million which has made a significant difference towards wildlife conservation and other humanitarian causes.
The NSE Charity Trading event was holding its fifth drive, supporting different initiatives. It has supported various educational and environment projects such as Borana Ranch Conservancy, Save the Elephants, SOS Children’s Home, Joy Children’s Home and We the Change Foundation.
During the event, celebrities and other guests make calls to investors on behalf of stockbrokers and encourage them to make trades on that day.
The bank noted that health has the potential to reduce poverty through decreasing out of pocket spending and boost economic growth by enhancing productivity and increase income.
Adding to the ongoing transition, Mr. Kirui asserted that the move to Absa in the country is in top gear with a focus on customer needs for the present and future trends. “We have revamped our SME proposition to include unsecured loans of up to sh10 million and LPO financial and invoice discounting of up to sh50 million.