5 days Ago By KNA3
Investments &Mortgages (I&M) Bank, through its I&M Foundation, has committed Ksh162 million towards the first phase of ‘Project Imarisha Ngong’ Forest’, a strategic environmental initiative aimed at fencing, restoring, and developing critical infrastructure within the Ngong’ Forest. The unveiling ceremony, graced by outgoing Cabinet Secretary (CS) for Environment, Climate Change and Forestry Hon. Aden Duale, Executive Director I&M Bank Sarit Rajah-Shah, Kenya Forest Service (KFS) Chief Conservator of Forests (CCF) Alex Lemarkoko, and I&M Bank Founder and Chairman Emeritus Shah, among other senior Bank and I&M Foundation leaders, signals a bold step towards enhancing Nairobi’s urban green spaces and improving air quality.
Speaking at the launch, Duale emphasized that restoring Nairobi’s green spaces is not just an environmental duty but also an economic and social imperative. “We commend I&M Foundation’s leadership in ensuring this vision becomes a reality,” he expressed. During the function, Sarit Raja-Shah stated that the funds will directly support vital enhancements designed to protect and rehabilitate the forest ecosystem.
He mentioned key developments of the project that include the construction of rangers’ housing featuring apartment units and three-bedroom bungalows to strengthen forest security; the drilling of boreholes and installation of water tanks to increase tree seedling survival rates, and the establishment of six modern ablution blocks for visitor convenience. Additionally, the installation of two new access gates (Southern Bypass & Kibera), he revealed, is set to improve security and accessibility. Raja-Shah underscored the Group’s sustainability-led strategy noting that Kenya’s ambitious goal of growing 15 billion trees by 2032 to combat climate change and restore degraded land aligns seamlessly with I&M Group’s sustainability vision.
“Our commitment to a greener future has shaped our corporate iMara Strategy, ensuring sustainability remains at the core of our business. Through projects like Ngong Forest, we aim to positively impact 10 million lives by 2026. This is just the beginning and we invite like-minded organisations to join us in these efforts,” he urged.
The project, initiated through a Memorandum of Understanding (MOU) signed in April 2024 between I&M Foundation and KFS has made remarkable strides in the past year. Raja-Shah further mentioned the project’s numerous achievements, including Engagement of communities across Dagoretti South, Kibera and Lang’ata in public participation exercises which are gaining overwhelming public support. It included a securing an Environmental Impact Assessment (EIA) license from the National Environment Management Authority (NEMA); Created 682 jobs within the first eight weeks by clearing invasive species and expanding trails; Rehabilitated 3 hectares of degraded forest; sunk a borehole; installed 5km of electrified fencing; and developed 35km of nature trails.
Kenya Forest Service Chief Conservator of Forests, Alex Lemarkoko noted, “By revitalising this urban woodland, we ease pressure on Karura Forest, which receives over 70,000 visitors monthly, and provide Nairobi residents with an expanded green space for recreational and educational purposes. This sanctuary is not just a forest; it is a critical ecosystem at the heart of Nairobi.” Meanwhile, the financial services conglomerate has made a name for itself by leading Environmental Conservation projects in Kenya, Uganda, Rwanda and Mauritius where it operates.
As I&M Foundation celebrates five years of impact, it continues to channel 2 percent of I&M Bank’s annual Profit Before Tax (PBT) towards initiatives that create lasting social and environmental change..
