Co-op Bank Retains Kenya Bankers 2019 Sustainable Finance Catalyst Award

Co-op Bank Retains Kenya Bankers 2019 Sustainable Finance Catalyst Award

Central Bank of Kenya Governor Dr. Patrick Njoroge presents a team from the Kenya Women Microfinance Bank led by Managing Director Mwangi Githaiga with a certificate during the 3rd edition of the Sustainable Finance Initiative Catalyst awards held in Nairobi

Co-operative Bank has been named as the Overall Winner of the Kenya Bankers Association (KBA) 2019 Sustainable Finance Catalyst Award for the second year running.

“Sustainability is fully integrated in our business model that stands on the three pillars of Economic sustainability, Social sustainability and Environmental stewardship,” said Co-op Bank’s chief executive Gideon Muriuki in a statement after winning the award.

“As a bank that is predominantly-owned by the 15 million-member Co-operative Movement, we are inclusive by design that has not only enabled us to deliver shared prosperity today, but also helped us build awareness and prudence to avoid putting future generations in jeopardy.”

Equity Bank Group was named second overall position and KWFT in the third position.

Themed Recognizing Catalytic Finance that Impacts Industry, Economy and Society, the award was unveiled in 2016 by the Kenya Bankers Association to celebrate institutions that have embedded the SFI Guiding Principles. 

The Kenya banking industry in March 2015 adopted the Sustainable Finance Initiative (SFI) Guiding Principles that guide the banks in balancing their business goals with the economy’s development priorities and socio-environmental concerns.

The awards attracted 47 entries from 14 financial institutions. The awards ceremony was presided over by Central Bank of Kenya Governor Dr.Patrick Njoroge and Treasury Principal Secretary Dr. Julius Muia.

The awards finalists included ABC Bank, Barclays/Absa, Co-operative Bank, Credit Bank, DTB, Equity Bank Group, Faulu Microfinance Bank, KCB Group, KWFT, National Bank, NCBA, Rafiki Microfinance Bank, Stanbic Bank, and Standard Chartered Bank.

Dr. Patrick Njoroge noted that commendable strides had been achieved by the initiative in building capacity of bank employees on sustainable finance.

“To date, over 28 thousand bank employees have been trained to have an appreciation of ensuring that their financing decision is guided by the wider societal concerns of the environment and the economy,’’ noted Dr. Njoroge, urging the banking industry to embrace a forward-looking approach while financing commercial activities.

The judging panel for the 2019 Sustainable Finance Catalyst Awards consisted of Ms. Joyce Njogu (Consulting Head – Kenya Manufacturers Association). Prof. Kenneth Amaeshi ( Business and Sustainable Development – University of Edinburg), Dr. Peter Muriu (Financial Economics Consultant), Mr. Sandy Okoth (SFI Expert-WWF), Eng. Dan Likuyi Ndenga (Chemical Engineer), with support from Ms. Nuru Mugambi(KBA).

2019 Catalyst Awards Winners

Best in Sustainable Finance

  1. Standard Chartered Bank
  2. Co-operative Bank
  3. Equity Bank Group

Client Case Study – Financing Small and Medium Enterprises

  1. Co-operative Bank
  2. KWFT
  3. Equity Bank Group

Client Case Study – Financing Commercial Client

  1. Equity Bank Group
  2. CBA
  3. Co-operative Bank

Bank Case Study – Operations

  1. Standard Chartered Bank
  2. Co-operative Bank
  3. Equity Bank Group

Bank Case Study – Promoting Gender Inclusivity

  1. KWFT
  2. Equity Bank Group
  3. Standard Chartered Bank

READ:

Financing the Informal Sector

  1. Equity Bank Group
  2. Co-operative Bank
  3. National Bank

Most Innovative Bank

  1. Equity Bank Group
  2. Standard Chartered Bank
  3. Co-operative Bank

Best in Sustainable Finance in the East Africa Region

  1. CBA
  2. KCB

Best Overall Winner

  1. Co-operative Bank
  2. Equity Bank Group
  3. KWFT

Most Improved Bank

KWFT