NAIROBI, Kenya, Oct 8 – KCB Bank disbursed Sh53.2 billion in green loans in 2024, marking a significant expansion of its financing for projects that drive clean energy, e-mobility, the blue economy, and climate change adaptation across Kenya.
The lender in its 2024 Sustainability Report asserted that the move pushed the bank’s green portfolio to 21.32 percent, up from 15 percent in 2023.
The report revealed that 7.5 percent of KCB’s supplier contracts, worth Sh913 million, were allocated to businesses owned by special interest groups, including youth, women, and persons with disabilities (PWDs).
This forms part of KCB’s broader sustainability agenda, under which the bank disbursed Sh2.58 billion in loans to 4,000 youth-owned MSMEs through its 2Jiajiri programme, with 38 percent of the enterprises led by women.
The initiative supported the creation of more than 60,000 jobs through skills training and enterprise support.
According to KCB, the move underscores its growing commitment to inclusivity and equitable participation in its procurement ecosystem.
“Green financing is not just an environmental imperative, but a social one,” said KCB Group CEO Paul Russo during the report’s launch.
“By allocating meaningful support to youth, women, and PWD-owned firms, we deepen our commitment to inclusive growth while scaling climate action.”
The lender also assessed Sh578.3 billion in loans for environmental and social risks last year under its Environmental and Social Due Diligence (ESDD) process, bringing the cumulative total since 2020 to over Sh1 trillion.
KCB also achieved a 4 percent reduction in resource consumption and offset 1.3 metric tonnes of carbon equivalent, driven by the planting of over 1.3 million trees.
