Absa Bank Kenya has outlined plans to increase sustainable finance to at least 30 per cent of its total portfolio by 2030, as financial institutions seek to accelerate Kenya’s transition to a greener and more inclusive economy.
Speaking during the GreenShift Forum 2026, held in Nairobi on 22 October, Absa Bank Kenya Head of Sustainability and Corporate Affairs Charles Wokabi called on businesses to integrate sustainability into their core operations rather than treating it as a standalone corporate social responsibility initiative.
“If you are an organisation that is serious about sustainability, then sustainable business practices must be reflected in your core business; both in the way you manage your operations and in the propositions you offer to your customers. Planting and growing trees is good, but it should not equate to your entire sustainability story,” said Wokabi.
He also urged financial institutions to embrace innovative financing mechanisms, including guarantees and risk-sharing arrangements, to unlock funding for sustainable projects that would otherwise struggle to attract investment.
Absa has channelled more than KES 200 billion into sustainable finance over the past five years, supporting small and medium-sized enterprises (SMEs), women, young people and climate-related initiatives.
In 2025 alone, the bank disbursed KES 55.3 billion in sustainable finance, including KES 6.5 billion towards climate finance.
The forum, held under the theme Powering Kenya’s Sustainability Transformation, brought together business leaders, policymakers, financiers and innovators to explore opportunities in green finance, carbon markets, electric mobility, renewable energy and the circular economy.
Discussions also highlighted the importance of public-private partnerships in mobilising investment and translating sustainability commitments into measurable economic and environmental outcomes.