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KCB Group has won six awards in the inaugural Kenya Banking Association (KBA) Sustainable Finance Catalyst Awards, cementing the lender’s leadership role in driving sustainable initiatives.
The Bank was named the overall winner for being an outlier in innovating in balancing the quest for financial returns with the diverse priorities within the sustainable economic, social and environmental context.
Business sustainability, also known as corporate sustainability, is the management and coordination of environmental, social and financial demands and concerns to ensure responsible, ethical and ongoing success. The awards are a unique platform for banks and other financial institutions to showcase their industry leadership and innovation while reinforcing the role they play towards sustainable development.
KCB Group was awarded the winner in Tier 1 banks as the Best Practice in Sustainable Finance, and it secured the same position in banks that practice Sustainability through Policy and Governance and additionally in the category capturing the Bank Case Study – Bank Operations. KCB Group also took the 3rd Position in the Category of Client Case study in Micro, Small and Medium Sized business and Position 2 in the Commercial Case Study category.
KCB Group CEO and MD Joshua Oigara: “We believe that business is no longer about just making profits but about transforming the lives of communities in markets where we operate. It is our firm conviction that sustainability must go hand in hand with increasing shareholder value and I believe we have found the right balance. We don’t operate in a vacuum but in an environment where we have to ensure that we are a good corporate citizen,” said Mr. Oigara.
The bank adopted the Sustainable Finance Initiative (SFI) guiding principles in 2015 when it envisioned that the principles outlined in the initiative go hand in hand with its Sustainability Framework. This goes a long way in guiding a good balance between business goals with the economy’s development priorities and socio economic concerns.
The awards themed: “Recognising Catalytic Finance that impacts industry, economy and society” sought to recognize banks and other financial sector players that drive sustainability by embedding it in their core business operation strategy and governance structures.
The ceremony was graced by Capital Markets Authority (CMA), Chief Executive Officer, Mr. Paul Muthaura, who highlighted the awards aim of recognizing banks and other financial sector players in their quest at balancing their immediate business goals with the economy’s future priorities and socio-environmental concerns.
