During this period, the bank together with its partners oversaw the planting of over 700,000 trees and introduced mapping of planted trees for carbon offsets. Further, Absa and its partners donated 20,000 bamboo tree seedlings for planting in Kiu Wetlands, and 10,000 seedlings to support restoration of Kinale Forest. The lender is also on course to rehabilitate a section of the degraded 100-hectare Sorget Forest in Kericho County.

Absa has also invested Ksh.2 billion in technological upgrades and has introduced a digital onboarding platform where its customers can open accounts and transact independently within 12 minutes, as part of its enhanced financial literacy. 

As part of its Sustainability in Sports initiative, the lender partnered with Athletics Kenya as part of its sponsorship of the Absa Kipkeino Classic to plant over 2,500 trees at the Kasarani Stadium, and has started the Birdies for Trees Initiative, where it has committed to plant 100 trees for every birdie scored at the Magical Kenya Open. 

To enhance digital literacy, Absa Bank and partners fully equipped and furnished 22 computer labs in select schools, donated Ksh.25 million to support computer labs in primary and secondary schools, and each school selected will receive 20 fully networked desktop computers, including lab furniture.

Through its See Her Empowered (SHE) Star Programme, Absa has empowered over 35,000 women, and runs the R2W, a soft skill curriculum that is online, free & self-paced. R2W was launched in 2015 and over 250,000 youth have so far been reached.

Further, as part of its Climate Smart Agriculture initiative, Absa has partnered with the Eco-business fund, investing $10 million in climate-smart agriculture. The lender is also running the Green Building initiative, where it has partnered with Acorn Holdings Limited (AHL) for Ksh.6.7 billion in a financing deal for the development of 10 Purpose-Built Student Accommodation (PBSA) to address current student housing deficit.

According to Charles Wokabi, Absa’s Head of Sustainability, the bank is now looking to a future where it will be rewarding people and entities engaged in environmentally friendly initiatives.

“For instance if you are borrowing and you are a construction firm, and you are putting up a green building, we should be able to give you competitive rates in the coming future,” Wokabi said on the sidelines of the launch of the report.

Speaking during the launch, Absa Bank CEO Abdi Mohamed said the bank looks forward to double the sustainability funding this year. 

“We look forward to doubling that figure to Ksh.120 billion, engaging our communities and fast tracking our own net zero ambitions. We remain resolute in our commitment to turning our words into action, implementing strategies that will positively impact the environment, enhance customer experiences, and support the communities we serve,” Mohamed said. 

On his part, Absa Bank Chairman Charles Muchene said the bank is fully committed to realising the Sustainable Development Goals (SDGs) within the next six years, and they are proud of their progress and significant contribution to attaining the SDGs. 

“Our commitment to diversity and inclusion remains evident, with 15.5% of our active suppliers being women, youth, and persons with disabilities. We have also continued to enhance financial inclusion and enterprise development among the marginalised yet high-potential population segments such as women and MSMEs,” Muchene said.