KCB Releases Sustainability Report Showing Number Of Jobs Created, Loans Disbursed And Scholarships

• The Kenya Commercial Bank (KCB) has released its 2023 sustainability report on Tuesday, highlighting its achievements
• During the period under review, the lender allocated 15% of the total loans to green initiatives, with KCB staff planting 314,129 trees in 1,423 schools
• The KCB 2jiajiri programme provided direct jobs to 13,352 people, and to date, 30,000 jobs have been created under the programme

TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends.

The Kenya Commercial Bank (KCB) has released its 2023 sustainability report, which highlights the bank's environmental, social, and governance (ESG) achievements in the last financial year.

KCB Group’s ESG & Sustainability Report covers the period between January 1, 2023, to December 31, 2023.

What percentage of KCB loans went to green initiatives?

During the period under review, the lender allocated 15% of the total loans to green initiatives.

“In 2023, we made a bold commitment to address the climate crisis by allocating over KSh 21 Billion to green finance initiatives; aimed to create a real and tangible impact on our environment and communities," KCB managing director Paul Russo revealed.

To combat climate change, KCB staff planted 314,129 trees in 1,423 schools through their branch networks and partnerships.

In the water and sanitation sector, it disbursed KSh 696 million to micro, small, and medium enterprises and water service providers, which saw 251,294 Kenyans access clean water and 67,357 individuals access improved sanitation facilities.

KCB's e-mobility project aims to create over 150,000 new green jobs in the boda-boda sector, providing employment opportunities and economic empowerment to residents.

So far, it has funded electric bikes worth KSh 2.2 million.

How many people benefited from KCB jobs and scholarships?

KCB continued to create employment opportunities for thousands of Kenyans amid scarce job openings.

The KCB 2jiajiri programme provided direct jobs to 13,352 people. To date, 30,000 jobs have been created under the programme.

At the same time, 1,515 students were trained in entrepreneurship, and 639 toolkits were issued to project participants.

In KCB Tanzania, the programme offered 1,460 scholarships, with 61% of beneficiaries being women while 1.8% of people living with disabilities were integrated.

"The 2jiajiri programme equips youth with vocational skills for self-reliance. Our scholarship programme helps disadvantaged students pursue higher education and unlock their potential," KCB stated.

KCB Group employed 1,457 permanent and pensionable employees, 1,157 of whom were hired in Kenya, bringing the total number of employees to 7,989. Of these, 4,317 were male and female (3,672).

Under the foundation scholarship programme, 640 female students benefitted out of a total of 1326 scholarships awarded in 2023.

With most Kenyans relying on short-term loans to make ends meet, the bank disbursed KCB-M-Pesa loans valued at KSh 46 billion.

KCB's focus on clean cooking energy

Most Kenyans are now using cooking gas, a move that has seen its demand in the market increase.

KCB issued 10 grants for liquified petroleum gas (LPG) to enhance the use of clean cooking energy.

It spent KSh 8.2 billion on local suppliers, with 7.5% allocated to people with disabilities.

How many women entrepreneurs benefited?

KCB Bank Kenya issued loans worth KSh 115 billion to 683,887 Female-Led and Made Enterprises (FMLE).

During the period under review, the bank also trained 21 female-led FPOs.

At least 33% of the KCB Board members are women, while 249 were trained in leadership skills.

Proofreading by Asher Omondi, current affairs journalist and copy editor at TUKO.co.ke.