NAIROBI, Kenya, Oct 25 – Absa Bank Kenya, in partnership with the International Finance Corporation (IFC), a World Bank Group member, is set to train over 600 suppliers across Kenya on corporate procurement readiness.
According to Charles Wokabi, Absa Bank Kenya’s Head of Sustainability and Corporate Affairs, the program will focus on enhancing awareness around corporate sustainability and responsible business practices.
“We are committed to advancing our sustainability goals and incorporating Sustainable Development Goals (SDGs) into our initiatives. By diversifying our supply chains, we emphasize environmental, social, and governance (ESG) factors in training to encourage sustainable practices among our supply chain partners,” Wokabi said during a training session attended by over 100 suppliers.
Absa aims to raise its supplier diversity and inclusion ratio to 30% by next year, aiming to expand procurement opportunities for women, youth, and persons with disabilities.
Anne Kabugi, IFC’s Regional Gender Lead for Africa, noted that increasing inclusivity within supply chains in Kenya will significantly encourage women entrepreneurs and other underserved groups.
“In Kenya, corporate buyers estimate that less than three percent of their spending goes to women suppliers. IFC partners with corporates like Absa to close these gaps, making supply chains more inclusive and diverse,” she stated.
