NAIROBI, Kenya, Sep 5 – Absa Bank Kenya invested Sh60 billion in sustainability initiatives in 2023, underscoring the lender’s growing commitment to clean energy, inclusive finance and community-support projects.
The funding covered sustainable financing, social and environmental responsibility, and governance programmes. Of the total, Sh22.3 billion was channelled into climate financing, while Sh36.9 billion went to inclusive finance — including Sh21 billion for its Timiza programme and Sh4.9 billion in support for micro, small and medium enterprises (MSMEs).
Chief Executive Officer Abdi Mohamed said the investments align with the bank’s long-term strategy for environmental conservation and resilience.
“We understand that the geopolitical, social, environmental, and technological shifts of the next decade will have far-reaching effects. In response, we remain resolute in our commitment to turning our word into action, implementing strategies that will positively impact the environment,” he stated.
Abdi added that Absa has partnered with several organisations to advance its sustainability goals. The bank has invested Sh2 billion in solar-powered projects for off-grid communities through a collaboration with solar manufacturer Sunking and Safaricom, and has allocated Sh20 billion to sustainability-linked loans. A further Sh6.7 billion has been directed towards green building developments across the country.
Absa says it aims to plant 10 million trees by 2025 and has committed to doubling its sustainability budget to Sh120 billion.
