Absa Bank Kenya partners with Safaricom in mangrove reforestation initiative

Absa Bank Kenya, in partnership with Safaricom, has today announced a joint commitment of two million Kenyan shillings towards a mangrove reafforestation project aimed at preserving coastal ecosystems in Kilifi County.

The initiative, launched on the sidelines of the ongoing 2024 Magical Kenya Ladies Open, will see the planting and nurturing of 100,000 mangrove trees aimed at restoring the fragile mangrove ecosystems along the coastline. This will be implemented in partnership with, Takaungu Beach Management Unit, a local community group.

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While commenting on this partnership, Absa Bank’s Chief Financial Officer, Yusuf Omari, stated that the initiative underscores the bank’s sustainability agenda, aligning with its partners’ shared values of environmental stewardship and community empowerment.

“As an active force for good brand whose heart beats for our communities, we care about the communities around us and the environment in which we operate. Our partnership with Safaricom to undertake mangrove reafforestation reflects a sustainable approach to preserving biodiversity, mitigating climate change effects, and enhancing the resilience of coastal ecosystems,” said Mr. Omari.

Safaricom Director, Sustainable Business, Social Impact & the Foundations, Karen Basiye, stated, “This partnership is a reflection of Safaricom’s commitment to its Environmental, Social, and Governance agenda. It will also take us a step closer to being a net-zero carbon-emitting company by 2050.”