NAIROBI, Kenya, June 27 — Stanbic Bank facilitated trade deals worth Sh76 billion and issued over Sh500 million in solar loans in 2024, underscoring its commitment to driving sustainable development and becoming the region’s most environmentally responsible financial institution.
According to the lender’s 2024 Sustainability Report, themed “Deepening Impact while Building a Sustainable Future,” the bank also recycled 99.9 percent of its waste and screened all facilities above $1 million for environmental and social (E&S) risks.
Stanbic Bank Kenya Chief Executive Dr. Joshua Oigara said the Group made significant strides toward sustainable growth during the year, delivering impact across multiple business segments.
“Sustainability remained deeply embedded in the Group’s strategy and ambitions as we executed various initiatives. Our commitment to integrating ESG principles shaped the design of our products and services,” said Dr. Oigara.
As part of its green financing push, Stanbic disbursed more than Sh500 million in solar loans to support the transition to renewable energy and advance the net-zero emissions agenda.
Priscilla Were, Head of Sustainability at Stanbic Bank, noted that climate change mitigation and environmental stewardship are central to the Group’s long-term goals.
“Our aim of greening our portfolio by 10% began in 2019, with a focus on sustainable agriculture, renewable energy, and climate resilience projects,” she said. “We’ve transitioned some branches to solar power and plan to fully solarize our Head Office. We also planted 8,000 trees to aid ecosystem restoration.”
Stanbic has adopted voluntary disclosures on sustainability and climate-related risks in line with global standards, reinforcing its status as a future-ready bank.
The 2024 report tracks performance across four impact pillars: enterprise growth and job creation, infrastructure development, the just energy transition and climate change mitigation, and financial inclusion.
