Absa hits 18% women suppliers mark, gets IFC recognition
Absa Bank Kenya Head of Sourcing and Commercial Services Mr. Gilbert Ngetich (2nd Right) receives an award from IFC Principal Country Officer-Kenya Gillian Rogers (second from left) during the Sourcing2Equal Kenya Program awards ceremony. Looking on are Fred adungo- Absa Bank Kenya's Governance and Reporting Manager, and Sharon Mworia from the SME Banking team. The award recognises Absa Bank's commitment to integrating more women-led enterprises into its supply chain, fostering more inclusion and diversity among its suppliers.
Lender Absa Bank Kenya PLC is setting a new standard for inclusive procurement, having tripled the share of women-owned businesses in its supply chain—from just 6 percent in 2021 to an impressive 18 percent today.
This progress has earned the bank special recognition from the International Finance Corporation (IFC) under the Sourcing2Equal Kenya Program, which celebrates institutions advancing inclusive sourcing practices.
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The lender said the recognition not only affirms its leadership in supplier diversity but also underscores its broader commitment to fostering economic empowerment for underrepresented groups.
With an ambitious target to diversify its supplier base by 30 percent by December this year, Absa says it is driving meaningful change by opening opportunities for women, persons with disabilities, and youth-led enterprises across Africa.
Speaking while receiving the award, Absa Bank Kenya Head of Sourcing and Commercial Services, Mr. Gilbert Ngetich, said: “Absa Bank Kenya is committed to championing inclusive and equitable opportunities for underrepresented groups. We are not just funding businesses, but we are changing how procurement practices can benefit underrepresented groups to provide them with meaningful economic opportunities.”
The awarding ceremony was held during a high-level event hosted by IFC in partnership with Women Entrepreneurs Finance Initiative (We-Fi) and the Government of Norway, together with 10 corporates in Kenya.
The event was in celebration of the strides made by corporate partners in the Sourcing2Equal program in accelerating procurement opportunities for women-owned businesses.
“This recognition is not only a stamp of approval to our commitment in improving access to finance for underrepresented groups, but also to drive supply chain financing for Women-led small and medium enterprises (WSMEs),” added Mr. Ngetich.
As the Sourcing2Equal Kenya Program transitions to its next phase- improving access to finance for women entrepreneurs, Absa Bank remains committed to unlocking opportunities for women and other underrepresented groups, reinforcing the Bank’s commitment to driving inclusive economic growth in Kenya and beyond.
