ABSA Launches the Absa Kenya Foundation

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Absa Bank Kenya has launched the Absa Kenya Foundation in an effort to accelerate socio-economic impact. The Foundation will focus on four key programmatic pillars: entrepreneurship, education and skills, natural resource management, and health and humanitarian relief.

Speaking at the launch, Abdi Mohamed, Managing Director and CEO of Absa Bank, emphasized the bank’s crucial role in the economy, especially as a systemic institution that fosters sustainable shared value throughout 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 stated.

Absa Bank Kenya will allocate 1.5% of its annual earnings to the new Foundation, beginning with Ksh 500 million as seed funding for transformative projects. These initiatives will be carried out through partnerships to tackle significant societal and environmental challenges.

The Chief Guest for the day, H.E. Dr. Musalia Mudavadi, E.G.H., Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs, congratulated Absa for launching the Foundation, noting the benefits it will have for the community.

“I commend Absa Bank Kenya for establishing Absa Kenya Foundation. You have embarked on a significant journey to uplift the livelihoods of the community that supports your business. Your entry into this ecosystem of social investment will expand, diversify and enrich the social capital ecosystem,” he said.

“I appreciate Absa Bank for making a significant decision to walk in the footsteps of those who have gone ahead on this incredible journey of investing in the people and communities.” H.E. Dr. Musalia Mudavadi added.

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The Cabinet Secretary for the Ministry of Environment, Climate Change and Forestry, Hon. Aden Duale, E.G.H., noted the importance of the Foundation.

“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,” he stated.

“I understand that the Foundation has identified Entrepreneurship, Education, Natural Resource Management, and Health as its key focus areas. These are crucial pillars that align with our shared mission of improving the quality of life for communities across the country.” added Duale.

Absa Bank Chairman, Charles Muchene, highlighted the inspiration behind the Foundation’s launch.

“The launch of the Absa Kenya Foundation marks a defining moment in our commitment to sustainability, signaling our dedication to shaping new narratives within the communities we serve,” Munene noted.

“The Foundation aligns seamlessly with Absa Kenya’s broader vision, focusing on environmental stewardship, social responsibility, good governance, and influencing public policy. Our mission is to uplift society while tackling the urgent challenges of climate change and protecting biodiversity for generations to come.” he added.