Stanbic Holdings Plc facilitated Ksh76 billion worth of trade in 2024 and provided over Ksh0.5billion in loans to support the transition to green energy as part of its quest to become the most sustainable financial services player in the region.
According to the Stanbic Holdings Sustainability Report 2024, the group spent Ksh500 million on solar financing and Ksh1.79 billion advanced in affordable housing, enabling 250 new homeowners.
Stanbic has also planted 8,000 trees, bringing the total number of trees planted to over 31k.
In addition, the bank has issued loans worth Ksh37.8 billion to women since its inception and trained over 77,000 people on digital literacy.
The 2024 report, themed “Deepening Impact while Building a Sustainable Future”, summarised Stanbic Holdings Plc’s commitment to leveraging its financial expertise to support initiatives that address climate change, impact investing, and empower communities.
Speaking during the launch of the report, the Trade Cabinet Secretary (CS) Lee Kinyanjui reiterated the Government’s quest for collaboration with the private sector on sustainable initiatives that support trade across the region.
“Africa’s future lies in regional trade, and the AfCFTA is our golden ticket. Stanbic’s Ksh76 billion in trade facilitation is a testament to what’s possible with Public Private partnerships especially in empowering mid to small enterprise,” the Group noted.
Stanbic Economic Growth Plans
The report provides a comprehensive overview of the Group’s efforts to have a positive impact on the economy, the environment, and the communities it serves, showcasing how it deploys innovative tools, systems, and capabilities to deliver sustainable value for its stakeholders.
It also provides detailed disclosures on the Group’s performance across four impact areas of sustainability strategy: enterprise growth and job creation, infrastructure development and energy transition, climate change mitigation and adaptation, and financial inclusion.
Take on 2024 Progress
Stanbic Bank Kenya and South Sudan Chief Executive Dr Joshua Oigara noted that the Group made remarkable progress in 2024 in its ongoing commitment to sustainable growth, achieving significant milestones that enhanced value for both clients and shareholders.
“Sustainability remained deeply embedded in the Group’s strategy and ambitions, as we executed and delivered various initiatives across different business segments. 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,” Oigara said.
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Loans, Waste Recycling & Supporting Entrepreneurs
The bank also recycled 99.9 per cent of its waste and screened all facilities above $1 million for Environmental and Social (E&S) risks in its sustainability drive.
During the year under review, the Group issued over Ksh500 million in solar loans to support the transition to green energy and achieve net-zero emissions, as well as advanced financial inclusion for women entrepreneurs through D.A.D.A.
This is a dedicated platform offering both financial and non-financial services to help them scale their businesses.
Stanbic has supported 110,029 women entrepreneurs and women-led businesses, reinforcing its commitment to gender-inclusive growth since its launch.
The lender has also adopted voluntary disclosures on sustainability and climate-related risks as part of its initiative to remain a sustainable bank in the future.
Governance Structure and Sustainability Scorecard
Additionally, the Bank has strengthened its governance structures in line with the best global practices to enhance transparency and accountability.
It has also introduced a dedicated sustainability scorecard to track progress against targets.
This links executive performance to Environmental, Social, and Governance (ESG) outcomes.
It also took steps towards achieving a 50:50 gender balance
Currently, youth make up a third of the Group’s workforce, while differently abled individuals account for 0.7%, approaching the Bank’s target of 1%.
Additionally, four out of seven board members are female, further underscoring diversity as a cornerstone of the Group’s social pillar.
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Climate Change Mitigation
Priscilla Were, Head, Sustainability at Stanbic Bank, said that climate change mitigation and environmental stewardship are 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. This involves understanding the current and potential environmental and social risks that our clients are prone to,” she said.
“In line with our decarbonization goals, we transitioned some branches to solar power, with plans to fully solarize the Head Office, a critical step toward reducing our carbon footprint and planted 8,000 trees to restore ecosystems.”
The Group enhanced its Environmental and Social (E&S) risk framework, screened all loans above $1 million for environmental and social risks and achieved a 99.92% waste recycling rate.
Stanbic has disbursed more than Ksh180 million to help small businesses grow and sustain their operations since 2020.
Digital Training
In 2024, the Group extended Ksh63 million as concessionary funding to micro, small, and medium enterprises (MSMEs) through the Stanbic Foundation.
To date, the Group has disbursed nearly Ksh37.8 billion, providing women with affordable financing to expand their enterprises and strengthen their contribution to Kenya’s economy.
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