Absa Bank Kenya’s sustained commitment in driving a positive impact on the environment through sustainable lending practices was recognised by the Kenya Bankers Association (KBA) during the seventh edition of the SFI Catalyst Awards.
The bank clinched top accolades in various categories notably, the Best in Bank Operations and Best in Sustainable Finance categories, emerging as the third overall best bank during the award ceremony yesterday. The bank also took second place in the Best Bank in Promoting Gender Inclusivity category and third place in the Most Innovative Bank category.
Speaking on the recognition, Absa Bank’s Managing Director, Abdi Mohamed, said:
“We are honoured to be recognised by the Kenya Bankers Association SFI Catalyst Awards as it validates our ongoing sustainable development initiatives. As a bank, we believe in the power of sustainable finance to drive positive change, and these awards underscore our commitment to making a meaningful impact on society and the environment we operate in. We therefore remain steadfast in our drive to advance sustainable development across the country.”
Last month, the bank made a commitment to double its sustainable finance allocation to KES120 billion in three years as part of its refreshed sustainability commitment. This year alone, the Bank has advanced about KES 60 billion in sustainable finance, comprising components of green finance as well as inclusive finance.
“Our ambition is to continue significantly expanding our investment in this space as we scale our support for sustainable development across all our economic sectors. You can therefore expect to see us playing an even bigger and bolder role, specifically in renewable energy, energy efficiency, green building, and climate-smart agriculture sectors, in the days ahead,” added Mr. Mohamed.
The Sustainable Finance Initiative (SFI) Awards, launched in 2016 by the Kenya Bankers Association, seeks to recognise banks that practise catalytic finance that impacts the banking industry, the country’s economy, and society at large.