In a major step toward inclusive procurement, Absa Bank Kenya PLC has tripled the share of women-owned businesses in its supply chain—jumping from just 6% in 2021 to an impressive 18% today. That progress has earned the bank a special nod from the International Finance Corporation (IFC) as part of the Sourcing2Equal Kenya Program, which celebrates companies committed to gender-inclusive sourcing practices.
The recognition comes as Absa sets its sights even higher: it plans to diversify its supply chain by 30% by the end of 2025, with a strong focus on engaging women-led, youth-led, and disability-owned enterprises across the African continent.
“Absa Bank Kenya is committed to championing inclusive and equitable opportunities for underrepresented groups,”
said Gilbert Ngetich, the bank’s Head of Sourcing and Commercial Services.
“We are not just funding businesses—we are changing how procurement practices can benefit underrepresented groups to provide them with meaningful economic opportunities.”
The award was presented at a high-level IFC event, co-hosted with the Women Entrepreneurs Finance Initiative (We-Fi) and the Government of Norway, alongside 10 other Kenyan corporates. The event marked the successes of the Sourcing2Equal initiative, which has been working to create more opportunities for Women-led Small and Medium Enterprises (WSMEs) in the corporate supply chain.
Mr. Ngetich added that the award underscores the bank’s broader mission:
“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 SMEs.”
As the Sourcing2Equal Kenya Program shifts toward its next phase—focusing on access to finance for women entrepreneurs—Absa Bank is reaffirming its role as a leader in inclusive economic growth, not just in Kenya, but across the region.
