Stanbic Bank Kenya and GIZ unveil 2024 sustainability report, launching WE4D partnership to empower 750 women-led green businesses in East Africa.
Stanbic Bank Kenya, in partnership with the Stanbic Kenya Foundation and GIZ Kenya, officially launched its 2024 Sustainability Report alongside the regional WE4D–Stanbic Partnership, an ambitious initiative targeting 750 women-led businesses in Kenya, Tanzania, and Uganda.
Held in Nairobi, the high-level event marked a bold step toward inclusive green economic transformation in East Africa. Themed “Deepening Impact: Building a Sustainable Future”, the 2024 report highlights Stanbic’s alignment with the United Nations Sustainable Development Goals (SDGs), specifically in driving inclusive growth, environmental stewardship, and economic empowerment.
“We believe that a sustainable business is not just good for the environment and society—it’s good for the bottom line,” said Stanbic Bank Kenya CEO Joshua Oigara, during the launch. “Our sustainability efforts are deeply embedded in our core strategy, with deliberate investments in climate-smart financing, women empowerment, and youth employment.”
New WE4D–Stanbic Partnership to Empower 750 Women-Led Green Firms
The biggest highlight of the day was the launch of the WE4D–Stanbic Regional Partnership, a bold collaboration with GIZ Kenya under the Women Entrepreneurship for Africa’s Development (WE4D) program. The partnership will promote green entrepreneurship across Kenya, Uganda, and Tanzania, with a focus on empowering women-led small and growing businesses (SGBs) in the green economy.
The initiative is titled: “Promoting Green Businesses and Jobs for the Green Transformation”, and will include:
- Tailored green business and management training
- Access-to-finance solutions via Stanbic Bank’s lending ecosystem
- Regional networking platforms to accelerate green innovation
“Through this partnership, we are addressing two critical challenges in Africa: the climate crisis and the need for inclusive economic development,” said Sabine Müller, GIZ Managing Director. “Women are key drivers of climate-smart solutions, and this partnership provides them with the tools to lead.”
The Sustainability Report: Stanbic’s Green Commitment
The full 2024 Stanbic Sustainability Report outlines measurable progress across environmental, social, and governance (ESG) pillars. Among its key highlights:
- Over KSh 2.1 billion (approx. $16.2 million) invested in sustainable agriculture and renewable energy
- Support for 5,000 MSMEs, with 64% led by women
- Training of over 15,000 youth in entrepreneurship, digital skills, and financial literacy through the Stanbic Foundation
“It’s not just about doing business—it’s about doing good while doing well,” said Paul Njaga, Chairperson of the Stanbic Kenya Foundation Board. “This report is evidence of how we walk the talk on sustainability.”
Key Objectives: Access to Finance and Ecosystem Strengthening
WE4D will go beyond capacity building by enabling eligible women-led enterprises to secure financing through Stanbic’s Green Loans Program, supported by technical assistance from GIZ. The aim is to strengthen green lending ecosystems by aligning financial products with environmentally sustainable business models.
The project is further backed by the German Federal Ministry for Economic Cooperation and Development (BMZ) through GIZ’s regional programming.
“Stanbic Bank is proud to be at the intersection of finance and sustainability,” noted CEO Oigara. “We recognize that supporting women and green innovation is no longer optional—it is essential to future-proof Africa’s economy.”
Green Transformation, Gender Equality & Regional Scale
WE4D’s regional scope makes it one of the most comprehensive green empowerment programs for women in East Africa. By connecting beneficiaries across Kenya, Tanzania, and Uganda, the project fosters peer learning, cross-border business linkages, and policy advocacy.
The program reflects growing demand for green business integration in national development agendas. Kenya’s Vision 2030 and its Fourth Medium-Term Plan already prioritize climate resilience, clean energy, and inclusive economic participation, which are echoed in this initiative.
Looking Ahead: A Partnership for Impact
The Stanbic-GIZ collaboration sets a precedent for public-private partnerships (PPPs) in delivering sustainability goals. It also provides a replicable model for blended finance, where development partners de-risk commercial lending for high-impact entrepreneurs.
“Our goal is to catalyze systemic change,” emphasized Njaga. “It’s about building an ecosystem where women can thrive in the green economy—not just today, but for generations.”
The project will be tracked over a multi-year period with transparent impact assessments.
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