By Abel Muhatia @abelmuhatia
Kenya Banking Industry (KBI) has adopted the Sustainable Finance Initiative (SFI) that will help in balancing their business goals with the socio-economic developments and concerns.
Adopted through their umbrella body in late March, Kenya Bankers Association (KBA), SFI is expected to deepen financial inclusions and contribute towards sustainable economic growth.
“Time has come for the financial sector in Kenya and the region to adopt and implement a more inclusive decision making model that factors in variables such as environmental impact and social capital in the overall finance equation,” said KBA Chief Executive Officer, Habil Olaka.
KCB Group CEO who also doubles up as the KBA chairman, Joshua Oigara said SFI is a noble innovation because matters of socio-economic development concern any global citizen, hence setting the realisation of the sustainable finance vision.
Inline with this adoption, KBA will implement a yearlong capacity building program and constitute an external advisory committee as part of its governance structure to support the industry’s implementation.