Stanbic Holdings has announced that it facilitated Ksh. 76 billion of trade in 2024 and provided over Ksh. 0.5 billion in loans to support the transition to green energy.
This is according to their 2024 sustainability report, titled Deepening Impact while Building a Sustainable Future, highlights Stanbic’s dedication to using its financial expertise to address climate change, promote impact investing, and empower communities.
The report provides a detailed overview of the Group’s performance across its four key sustainability pillars: enterprise growth and job creation, infrastructure development and just energy transition, climate change mitigation and adaptation, and financial inclusion.
Dr. Joshua Oigara, Chief Executive of Stanbic Bank Kenya and South Sudan, noted the significant progress made in 2024. “Sustainability remained deeply embedded in the Group’s strategy and ambitions, as we executed and delivered various initiatives across different business segments,” said Dr. Oigara. “Our enduring commitment to integrating ESG principles into our operations influenced the design of our products, the services we offered, and the sectors we choose to engage in.”
Key Sustainability Achievements in 2024 include:
- Trade and Enterprise: Facilitated Ksh. 76 billion worth of trade and extended Ksh 63 million in concessionary funding to MSMEs through the Stanbic Foundation.
- Green Energy & Environment: Issued over Ksh. 500 million in solar loans, recycled 99.92% of its waste, and planted 8,000 trees, bringing its total to over 31,000. All facilities above $1 million were screened for Environmental and Social (E&S) risks.
- Financial Inclusion: Advanced Ksh. 1.79 billion in affordable housing, enabling 250 new homeowners. The D.A.D.A platform for women has issued Ksh. 37.8 billion in loans since its inception, supporting 110,029 women entrepreneurs.
- Digital Literacy: Over 77,000 individuals were trained in digital literacy, with the Stanbic Foundation facilitating capacity building for over 40,000 MSMEs.
Ms. Priscilla Were, Head of Sustainability at Stanbic Bank, stated that climate change mitigation is central to the Group’s operations. “Our aim of greening our portfolio by 10% began in 2019 with a key focus on sustainable agriculture, renewable energy and projects that address climate change adaptation,” she said.
The Group has also strengthened its governance structures, introducing a dedicated sustainability scorecard to link executive performance to ESG outcomes and taking steps to achieve a 50:50 gender balance on its board.