Absa Bank Kenya PLC has taken a bold step toward advancing its sustainability agenda with the launch of the Absa Kenya Foundation (AKF), aimed at fostering positive social and environmental impact.

The Foundation, funded through Absa's 1.5 per cent annual earnings contribution, begins with a significant Sh500 million seed investment.

It will focus on four key pillars: entrepreneurship, education and skills, natural resource management, and health and humanitarian relief.

In a statement during the launch, Absa Bank Kenya Chairman Charles Muchene described the initiative as a major milestone for the institution.

"The launch of the Absa Kenya Foundation marks a defining moment in our commitment to sustainability," he remarked, underscoring the bank’s dedication to creating transformative change.

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Managing Director and CEO of Absa Kenya, Abdi Mohamed, further emphasized the bank’s role in promoting sustainable growth across society.

"The establishment of this Foundation is yet another step forward in our journey to lead and innovate within the financial sector, acting as a catalyst for positive, lasting change. This presents us with an important opportunity to build upon our past experiences to strengthen our ability to create lasting shared value and scalable impact for our communities in a sustainable manner,” he explained.

Mohamed also acknowledged Absa's historical role in supporting communities, highlighting that the foundation would provide a structured approach to tackling both event-based and ongoing societal challenges.

"Absa has been on this journey to be a force for good and give back to the community in which we do business for as long as Absa has existed,” Mohamed added.

Prime Cabinet Secretary H.E. Musalia Mudavadi, who officiated at the event, stressed the importance of private-public partnerships in addressing Kenya’s socio-economic challenges.

He commended the Foundation’s focus on critical sectors such as entrepreneurship, education, and natural resource management.

"The Government appreciates the focus of your foundation on priority areas of our economic development including Entrepreneurship, Education and Skills, Resource Management, Health and Humanitarian Relief,” said Mudavadi. He highlighted the significant role Micro, Small, and Medium Enterprises (MSMEs) play in the economy, noting that the foundation’s focus on this sector would help elevate them from "survival mode" to thriving businesses.

Environment, Climate Change, and Forestry Cabinet Secretary Aden Duale echoed these sentiments, stressing the urgent need for collaborative action in addressing climate and environmental challenges.

“With today’s launch of the Absa Kenya Foundation, you now have an even greater platform to collaborate with other stakeholders in advancing impactful and deliberate efforts to be a force for good," said Duale.

The Entrepreneurship pillar of the Foundation will aim to support 50,000 MSMEs over the next five years, with a particular focus on inclusivity: 60 per cent of beneficiaries will be women, 30 per cent men, 10 per cent youth, and 5 per cent Persons Living with Disabilities (PLWDs).

The Education and Skills pillar, meanwhile, targets 1 million youth through the Ready-to-Work initiative and will offer 500 Science, Technology, Engineering, and Mathematics (STEM) scholarships.

The Foundation’s Natural Resource Management pillar will focus on climate-smart agriculture, renewable energy, and tree-planting initiatives, including a commitment to plant 10 million trees.

On the Health and Humanitarian Relief front, the Foundation will collaborate with partners to address pressing health issues and respond to crises such as floods and famine.

Mohamed reaffirmed the bank’s dedication to building strong partnerships, noting, "We recognize that this is a journey we cannot undertake alone. We require robust partnerships, collaborations, and cooperation with like-minded stakeholders, which will form a solid foundation for the success of this endeavour."

As the Absa Kenya Foundation embarks on this new chapter, the focus remains clear: to make a profound and lasting impact on Kenya’s social and economic landscape through meaningful collaboration and sustainable innovation.