Absa Bank Kenya has made significant progress in its sustainability strategy, which began in 2018 with a focus on sustainable development and responsible banking.
In its 2023 Sustainability Report, launched in Nairobi, the bank allocated Ksh.63 billion to sustainable finance in 2023, of which Ksh.60 billion was utilized.
The report highlighted that Ksh.26.1 billion was dedicated to climate finance, with Ksh.22.3 billion used, while Ksh.36.9 billion supported inclusive SMEs.
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Additionally, Ksh.21 billion was allocated to the Timiza platform. Absa and its partners planted over 700,000 trees and initiated tree mapping for carbon offset during this period.
The bank donated 30,000 tree seedlings to Kiu Wetlands and Kinale Forest restoration efforts and pledged to rehabilitate part of the 100-hectare Sorget Forest in Kericho County.
Absa invested Ksh.2 billion in technological upgrades, including a digital onboarding platform that enables customers to open accounts and transact independently within 12 minutes.
The bank equipped 22 computer labs in select schools to promote digital literacy and donated Ksh.25 million for computer lab support, benefiting primary and secondary schools with 20 networked desktop computers per school.
Over 35,000 women have been empowered through the "See Her Empowered" (SHE) program, and the Ready to Work (R2W) curriculum has reached over 250,000 youth.
Absa's Climate Smart Agriculture initiative, in partnership with the Eco-business Fund, received a $10 million investment in climate-smart agriculture, while the bank’s Green Building initiative supports student housing development.
Looking ahead, Absa plans to offer competitive rates to eco-friendly construction firms and aims to double its sustainability funding to Ksh.120 billion.
The bank remains committed to realizing the UN Sustainable Development Goals (SDGs), focusing on the diversity, inclusion, and financial empowerment of marginalized groups.
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