Absa Bank has provided relief to small businesses affected by the COVID-19 pandemic to the tune of KSh 60 billion to enable them to ride over the disruptive effects of the pandemic.
This disclosure was made during the launch of the lender’s Sustainability Commitment report which highlighted the bank’s commitment to the global sustainable development goals.
“We are building a banking culture that is aligned to climate change including our commitment to plant 10 million trees in the next 5 years, ” said Jeremy Awori, Managing Director – Absa Bank Kenya.
He said that while companies had traditionally focused on Corporate Social Responsibility (CSR) and philanthropy, opportunity lay in solving societal challenges as part of the core business strategy.
“Finance can be an enabler for social good and it is at this point that we come in to support businesses survive the pandemic”, said Moses Muthui-Country Strategy Director Absa Bank Kenya Plc.
Absa has committed to aligning its business and operations with the Sustainable Development Goals (SDGs), Paris Climate Agreement and Global Impact.
To reduce inequalities and promote diversity, Absa committed to employing more women at all levels within the organization.
Absa Marketing Manager Caroline Ndung’u revealed that the brand transition project where Barclays Kenya became Absa also included a special focus on sustainability and, in particular, the circular economy.
Environment and Forestry Principal Secretary Chris Kiptoo, who attended the launch, commended Absa for its commitment to increasing biodiversity and protecting the environment. He challenged Absa to innovate financial solutions for those working in the forests and trees value chain, particularly women and youth.