Nairobi, Kenya, 24th March 2025 – I&M Bank, through its I&M Foundation, has marked a major milestone in the fencing, restoration and infrastructure development undertaking dubbed ‘Project Imarisha Ngong’ Forest’ reaffirming its commitment to building sustainable cities and communities in Kenya. The unveiling ceremony, graced by Cabinet Secretary for Environment, Climate Change and Forestry Hon. Aden Duale, EGH, Kenya Forest Service (KFS) Chief Conservator of Forests (CCF) Alex Lemarkoko, EBS and I&M Bank Founder and Chairman Emeritus S.B.R. Shah, MBS among other senior Bank and I&M Foundation leaders, signals a bold step towards enhancing Nairobi’s urban green spaces and improving air quality.
The KES 162 million I&M Foundation sponsored project has shifted into high gear with various approved developments. These include new ranger housing with apartment units and three-bedroom bungalows, borehole drilling & water tanks to enhance tree seedling survival rates, six ablution blocks and two additional gates (Southern Bypass & Kibera). A tree nursery has been conceptualised to support forest regeneration and introduce a new revenue stream for the Forest and members of its Community Forest Association.
I&M Foundation commits Kshs. 162 million in Phase One of Ngong’ Forest restoration
I&M Bank, through its I&M Foundation, has committed Kshs. 162 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 funds will directly support vital enhancements designed to protect and rehabilitate the forest ecosystem. Key developments 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) is set to improve security and accessibility.
Furthermore, part of the funding will establish a tree nursery aimed at accelerating forest regeneration efforts and creating sustainable economic opportunities for the Forest and its Community Forest Association members. This significant investment underscores the Foundation’s dedication to promoting sustainable urban living and environmental conservation in Kenya. Speaking at the launch, Sarit Raja-Shah, GED of I&M Group PLC and I&M Foundation Director, emphasised the Group’s sustainability-led strategy saying, “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 Restoration, 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.”
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.
- Engaged communities across Dagoretti South, Kibera and Lang’ata in public participation exercises gaining overwhelming public support.
- Secured 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.
KFS CCF, Alex Lemarkoko, EBS 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.”
On his part, Hon. Aden Duale, EGH the Cabinet Secretary for Environment, Climate Change and Forestry of Kenya, emphasised, “Restoring Nairobi’s green spaces is not just an environmental duty. It is an economic and social imperative. We commend I&M Foundation’s leadership in ensuring this vision becomes a reality.”
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% of I&M Bank’s annual Profit Before Tax (PBT) towards initiatives that create lasting social and environmental change.
