KCB Disburses Sh53.2bn Green Loans, Sh913mn To Youth, Women

KCB Bank allocated Sh53.2 billion in green loans in 2024, representing a notable increase in its funding for initiatives that promote clean energy, e-mobility, the blue economy, and climate change adaptation throughout Kenya.


In its 2024 Sustainability Report, the lender stated that this initiative elevated the bank’s green portfolio to 21.32 percent, an increase from 15 percent in 2023. The report disclosed that 7.5 percent of KCB’s supplier contracts, amounting to Sh913 million, were designated for businesses owned by special interest groups, including youth, women, and persons with disabilities (PWDs). This initiative is part of KCB’s wider sustainability strategy, under which the bank provided Sh2.58 billion in loans to 4,000 youth-owned MSMEs through its 2Jiajiri programme, with 38 percent of these enterprises being led by women. The program facilitated the creation of over 60,000 jobs through skills training and support for enterprises. According to KCB, this initiative highlights its increasing dedication to inclusivity and fair participation in its procurement ecosystem. “Green financing is not merely an environmental necessity, but a social one,” stated KCB Group CEO Paul Russo during the launch of the report. “By providing substantial support to firms owned by youth, women, and PWDs, we reinforce our commitment to inclusive growth while advancing climate action.” The lender also evaluated Sh578.3 billion in loans for environmental and social risks last year as part of its Environmental and Social Due Diligence (ESDD) process, bringing the total since 2020 to over Sh1 trillion. Additionally, KCB achieved a 4 percent reduction in resource consumption and offset 1.3 metric tonnes of carbon equivalent, facilitated by the planting of over 1.3 million trees.

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