Corporate Governance Statement


    The Foundation shall focus on the priority areas outlined below. These priority areas will provide the cornerstones for the social plans and interactions with under privileged individuals and communities. Priority areas will be reviewed every 3 years to ensure that they are relevant to individual and community needs.


    Goal 1 - No poverty

    Goal 3 - Good Health and General Well being

    Goal 4 - Quality Education

    Goal 5 - Gender Equality

    Goal 8 - Decent Work and Economic Growth

    Education   Goal 4 - Quality Education

    More than 2000 STUDENTS have benefitted from the education bursary scheme.

    126 MILLION invested in the education program from 2015 to date that caters to the needy but bright children across the country.

    In the 2019 KCSE results, more than 80% of our students gained entry into university with most still under the scheme given the exemplary performances. The 2019 cohort had a mean score of 63%.

    The foundation in its inception identified lack of access to education as one of the biggest challenges in the country. As such, plans were put into place to ensure that the foundation would help as many children get access to quality education as it could. As the main core program the foundation has invested a bulk of its fund in education that has seen more than 2000 children from very underprivileged backgrounds dare to dream and push on with achieving their career aspirations. The university education alone has seen more than 500 students benefit in building their careers in societal impact driven occupations i.e. medicine and surgery, pharmacy services, school teachers, nurses and more career options. We build the foundation and a stepping stone for the children to proposer and channel their abilities. In 2020, barred by the Covid-19 pandemic, the foundation was still able to pay close to Ksh. 9 Million to ensure that the children did not miss their education and candidates sit for their examinations.


    Health   Goal 3 - Good Health and General Well being

    5 MILLION invested in yearly medical camps that are aimed at areas of the country with least access to healthcare services in less than 5 years

    More than 11,500 men, women and children have had access to free healthcare from our donations

    In excess of 400 successful surgeries have been undertaken from the medical camps giving the needy an access to free but highly specialised treatments.

    Lack of access to health care services has been a rising concern over time. In areas that healthcare is not accessible is where the foundation has strived in to bridge the gap in the lack of healthcare. Through various partnerships with other organizations, the foundation has spearheaded and invested funds into these affected areas. Regions such as Kwale County, Isiolo County, Marsabit County and Lamu County have been assisted to very great success. The foundation leverages on the provision of free premium healthcare services with assistance from top specialists who volunteer for these noble causes.


    In 2019, the Lamu Medical Camp which assisted more than 2000 people saw more than 20 top doctors and surgeons from the country and abroad present and doing as much as they could to save lives. More than 120 successful surgeries were done both major and minor.

    Social Economic Programs   Goals 5 and 8 Decent Work and Economic Growth and Gender Equality

    Annissa Wema Fund

    In the Annissa Wema Fund, is the revolutionary women only fund that grants women led business acquire start up or working capital. It’s an interest free facility that has been successful since its inception in later 2018. It has seen more than 70 WOMEN have benefitted from access to the revolving fund.

    The fund is currently limited to Ksh. 3 Million with aims to grow even further with time and attract smaller holder business women.

    Ramadhan Donations

    More than 1,500 families have had access to the Ramadhan donations made yearly by the foundation. The foundation spends more than Ksh. 1 MILLION annually towards this great cause in partnership with the bank.

    Institutional Loans and Grants

    Institutional grants and loans disbursed have exceeded ksh. 30 MILLION that’s aimed at uplifting organizations through endowment projects that are aimed to assist the needy in their communities.

    The loans have been able to have an adverse positive ripple effect in the societies and given the levels of investments done in areas of Mandera, Lamu and Malindi who have benefitted from the grants.


    The Trustees will not commit the Foundation’s funding to the following:

    1. Political organizations unless the projects run by the organization will benefit the whole community irrespective of political affiliation.
    2. Paying conventional bank or SACCO Debts.
    3. Sports Events.
    4. Marketing campaigns.  

    Board of Trustees

      • Formulate strategies and policies for the management of the Foundation.
      • Approve Foundation Programs.
      • Ensure the Foundation has a clear, shared vision, mission and objectives and that it has effective ways to achieve them.
      • Ensure the Foundation remains active and effective in achieving its objectives, including oversight of financial status.
      • Monitor and act to mitigate risks that could affect the Foundation, its activities so that it can remain active and effective.

    Shari'ah Supervisory Board

      • Review documentation and operations of the Foundation to ensure Shari’ah compliance.
      • Provide an annual report on whether or not the Foundation carried its operations in line with established Shari’ah guidelines issued from time to time.
      • Advise the Foundation’s Board of Trustees on all matters related to the Foundation as and when requested by Board of Trustees.

    Foundation's Management

      • Implement policies and programs of the Foundation.
      • Report on regular basis on the performance of the Foundation.
      • Receive and appraise application/projects from deserving applicants/projects for assistance.
      • Keep proper and updated records for all beneficiaries/projects of the Foundation.
      • Undertake day to day activities as per the Trust Deed in furtherance of the objects of the Foundation.
      • Maintain books of accounts in which details of all monies, investments and other properties and assets received and paid into and out of the Foundation.

    Gulf African Bank's Management

      • Ensure the Bank’s CSR activities are undertaken under the umbrella of Gulf African Bank Foundation.
      • Provide Gulf African Bank Foundation with adequate resources to undertake its day to day activities within the Bank’s premises.
      • Keep proper financial records for the foundation and advice foundation on financial and tax matters.

    All cases where 91% to 100% sponsorship or assistance is recommended must be reviewed and approved by a majority of the Trustees in a scheduled meeting or via circulation. However, the chief executive of the Foundation shall have power to approve up to 90% of the amount requested under Education and Health programs. All Social- Economic programs must be reviewed and approved by members of board of trustees. Decision of members of board of trustees is reached by simple majority rule.

    The following shall apply upon approval:

    Gulf African Bank's Management

      • Under the Education Program, fees will be paid directly to the bank account of the respective educational institution. For continuing students, payment will be done only after receiving the progressive results for each term/semester. The amount approved will be divided equally according to the number of terms or semester per year.
      • Under the Health Program, payment will be done after receiving the most recent medical bill in regard to the applicant.
      • Under the Social Program, payment shall be done depending on the project at hand as the Foundation deems fit.

    Gulf African Bank foundation chief executive shall examine and recommend to the board of trustee other foundations that shares same objectives with Gulf African Bank foundation for the purpose of alliance or strategic partnerships towards implementing Gulf African Bank foundation programs.


    In order to sustain its operations and meet its expenses, Gulf African Bank Foundation shall explore investment opportunities to raise additional funds for the Foundation. The Foundation shall retain up to 50% of the funds coming into the Foundation subject to availability of funds to support current and ongoing applications.

    Governance Statement Reveiw

    This governance statement shall be reviewed annually or as and when the need arises by the Board of Trustees in consultation with the Bank’s Shari’ah Supervisory Board.


Contact & Support

  • Address : Gulf African Bank Foundation
  • Email : 
  • Phone 1 :+254 (0) 711 075 000
  • Phone 2 :+254 (0) 020 2740000
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