Stanbic Holdings Plc facilitated KSh. 76 billion of trade in 2024 and provide over KShs.0.5billion 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. The figures are contained in the listed company’s latest sustainability report.
The 2024 report, themed “Deepening Impact while Building a Sustainable Future”, reflects 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 Cabinet Secretary, Ministry of Investment, Trade and Industry Hon. Lee Kinyanjui reiterated the Government’s quest for collaboration with the private sector on sustainable initiatives that support trade across the region. “The report launched today is a document that not only reflects corporate responsibility but also mirrors the transformative policies our Ministry is championing to drive Kenya’s economic growth.”
He added: “Africa’s future lies in regional trade, and the AfCFTA is our golden ticket. Stanbic’s KSh 76 billion in trade facilitation is a testament to what’s possible with Public Private partnerships especially in empowering mid to small enterprises.”
The report provides a comprehensive overview of the Group’s efforts to drive 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.
The report also provides detailed disclosures on the Group’s performance across four impact areas of sustainability strategy: enterprise growth and job creation, infrastructure development and just energy transition, climate change mitigation and adaptation, and financial inclusion.
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,” Dr Oigara said.The Group 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 KShs 500 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, a dedicated platform offering both financial and non-financial services to help them scale their businesses. Since its launch, Stanbic has supported 110,029 women entrepreneurs and women-led businesses, reinforcing our commitment to gender-inclusive growth.
The lender has also adopted voluntary disclosures on sustainability and climate-related risks as part of its initiatives to remain a sustainable bank into the future.
The lender reveals in its 2024 sustainability report that it has also strengthened its governance structures in line with the best global practices to enhance transparency and accountability. By integrating these standards, the group is building a strong foundation to provide stakeholders with reliable, decision-useful information, underscoring its commitment to a sustainable future and responsible business practices.
The Bank also introduced a dedicated sustainability scorecard to track progress against targets, linking executive performance to Environmental, Social, and Governance (ESG) outcomes and 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.
Ms. 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.
She added: “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.
Since 2020, Stanbic has disbursed more than KSh 180 million to help small businesses grow and sustain their operations. In 2024, the Group extended KSh 63 million as concessionary funding to micro, small, and medium enterprises (MSMEs) through the Stanbic Foundation. The Foundation, which years of operation in 2025 has facilitated capacity building for over 40,000 MSMEs and equipped over 250,000 individuals with digital skills trainings.
To date, the Group has disbursed nearly KSh 37.8 billion, providing women with affordable financing to expand their enterprises and strengthen their contribution to Kenya’s economy.
