Stanbic Bank Kenya has released its 2019 Sustainability Report (Report to Society) which captures the banks social, economic and environmental impact.
The sustainability report is premised on seven key areas which are aligned to Kenya’s National Development plan, namely, job creation and enterprise development, education, financial inclusion, health, environment and climate change, infrastructure development and Africa Trade and Investments.
The Report showcases the banks journey through its support to clients and the community at large. The bank has worked closely with like-minded strategic partners that include private sector players, government institutions and NGO’s to deliver on their commitment.
The areas of major impact highlighted in the sustainability report include Job Creation and Enterprise Development, Education, Gender and Affordable Housing. Under the first pillar of Job Creation and Enterprise development, close to 80% of the Banks efforts have gone towards this to ensure businesses are equipped with financial literacy to grow and have been provided with the right mentoring, training and market access.
In a statement, the bank said this has been achieved through the Accelerator program of the foundation that is focused on building capacity of the bank’s SME clientele by equipping them with knowledge on how to manage businesses in order to withstand the unprecedented shocks brought about by the COVID-19 pandemic.
Speaking at the event, Chief Administrative Secretary Ministry of Industrialization Trade and Enterprise Development Lawrence Karanja applauded Stanbic bank for practicing responsible banking and going beyond just offering financial services.
He said , “Organizations need to support the community in which they operate in. Business as usual is no longer acceptable, and they must demonstrate transparency and accountability for their social, economic and environmental impact.”
The Head of Stanbic Kenya Foundation, Pauline Mbayah said, “Our journey has been exciting yet challenging. With the advent of COVID-19, we carried out an analysis and partnered with key stakeholders to address gaps within the society to offer support to those in need in a sustainable manner. We acknowledge that Kenya is our home, and we continue to drive her social and economic growth.”