Absa Bank Kenya, partnering with Safaricom, announced a joint commitment of two million Kenyan shillings for a mangrove reafforestation project in Kilifi County, aimed at preserving coastal ecosystems.
The initiative, launched during the 2024 Magical Kenya Ladies Open, involves planting and nurturing 100,000 mangrove trees to restore fragile coastal ecosystems, in collaboration with the Takaungu Beach Management Unit, a local community group.
Yusuf Omari, Absa Bank’s Chief Financial Officer, highlighted the initiative’s alignment with the bank’s sustainability agenda and shared values of environmental stewardship and community empowerment.
“As an active force for good brand, we prioritize caring for our communities and the environment. Our partnership with Safaricom reflects a sustainable approach to preserving biodiversity, mitigating climate change effects, and enhancing coastal ecosystem resilience,” said Mr. Omari.
Karen Basiye, Safaricom’s Director of Sustainable Business, emphasized the company’s commitment to its Environmental, Social, and Governance agenda, aiming to become a net-zero carbon-emitting company by 2050.
Dirk Glittenberg, U.COM Event Managing Director, praised Absa Bank and Safaricom’s proactive steps towards preserving coastal ecosystems. He underscored the importance of mangrove trees in climate change mitigation and the initiative’s positive impact on environmental conservation and community empowerment.
Mr. Omari further stated, “This year, we aim to plant over 1.5 million trees countrywide as part of our commitments to become a net-zero organization by 2040, aligning with the government’s goal of achieving 30 percent forest cover by 2032.”
Mangrove trees, often termed the ‘lungs of our coastlines,’ play a crucial role in absorbing CO2 and serving as barriers against storms and tsunamis, mitigating damage to coastal communities.
