Absa Kenya Foundation. Photo/courtesy.
Absa Bank has introduced the Absa Kenya Foundation (AKF), aimed at advancing the bank’s social and environmental efforts within the community.
The Foundation, supported by the bank and its strategic partners, will concentrate on key areas such as entrepreneurship, education, natural resource management, and health.
The bank has committed to allocating 1.5% of its annual revenue to fund the Foundation.
This will begin with an initial Sh500 million in seed capital to fuel impactful projects addressing critical societal needs.
Abdi Mohamed, the Managing Director, highlighted the bank’s commitment to driving sustainable development in Kenya.
“This Foundation marks a pivotal step in our mission to create long-term societal value and foster scalable impact,” said Mohamed.
“We understand that we can’t achieve this alone. Strong partnerships are essential for creating lasting, meaningful change.”
Absa’s entrepreneurship initiative aims to support 50,000 micro, small, and medium-sized enterprises (MSMEs) over the next five years, with a focus on inclusion, particularly empowering women, youth, and persons with disabilities from both genders.
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The Education and Skills pillar seeks to impact 1 million youth through the Ready-to-Work program, support 50,000 youth through the Fellowship Program, and provide 500 STEM scholarships.
Under the Natural Resource Management pillar, AKF will prioritize climate financing, promote climate-smart agriculture, renewable energy, and tree planting, with a goal of planting 10 million trees to support the country’s environmental efforts.
In the health sector, the Foundation will collaborate with healthcare providers and development partners to tackle critical health challenges, including responding to emergencies like floods and famine.
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