Equity Bank CEO James Mwangi has made a personal donation of Sh100 million to Meru University of Science and Technology.
Mr Mwangi, who is the chancellor of the newly-chartered public university, said the financial endowment would be used to develop an innovative technology and entrepreneurship complex at the institution.
“My hope is that this donation will help evolve and develop a model university,” said Mr Mwangi in an interview.
The public giving by the self-made banker is one of Kenya’s biggest private philanthropic acts, in a country where many financially endowed businessmen shy away from charity.
Mr Mwangi is the biggest individual sponsor to the African Leadership Academy in South Africa, where he sits in the Global Advisory Council, with total donations grossing Sh30 million ($350,000).
He also sponsors about 50 students to attend secondary and higher education.
Mr Mwangi adopted Evans, while he was a student at Starehe School and supported him to study IT at the prestigious Carnegie Mellon University. Evans, now aged 26, works with global financial firm Credit Suisse in New York.