Banking Industry Adopts a Decision Making Model to Boost Growth Agenda

FROM LEFT: KBA CEO Habil Olaka, German investment cooperation regional director Eric Kaleja, KBA chairman Joshua Oigara and Dutch Development Bank Chief Investment officer India Broekhuizen during the adoption of SFI conference.

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.

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About the Author

Muhatia
Muhatia is the Managing Editor of Biz News Media Reach him via editor@biznews.co.ke