Absa Bank Uganda has achieved significant recognition in the 2024 Global Banking & Finance Awards, earning the titles of Best Corporate Social Responsibility (CSR) Bank and Best Bank for Sustainable Development in Uganda. The bank’s dedication to Environmental, Social, and Governance (ESG) initiatives, fostering climate action, financial inclusion, and diversity, led to these prestigious accolades.
These awards spotlight the innovation, achievement, and progressive changes within the global financial community. They acknowledge organizations, irrespective of size, that excel in specific areas of expertise and demonstrate a commitment to excellence in the financial sector.
Wanda Rich, Editor of Global Banking and Finance Review, emphasized Absa Bank Uganda’s pivotal role in Uganda’s economic and sustainable development. Beyond traditional banking services, the bank actively engages in partnerships to stimulate economic growth and tackle socioeconomic challenges within Uganda. Rich commended the bank’s initiatives in financial inclusion, education, and sustainable development, citing programs like ReadytoWork and strategic partnerships aimed at enhancing access to financial services.
This marks the second time Absa Bank Uganda has been honored as the Best CSR Bank, following its initial recognition in 2020. The bank’s education and skills development programs, community support initiatives, and ongoing efforts have contributed to this continued success.
Mumba Kalifungwa, Managing Director of Absa Bank Uganda, expressed gratitude for the recognition, highlighting the bank’s commitment to creating a positive impact within society. Kalifungwa emphasized the importance of acknowledging and addressing community challenges for sustainable progress.
As part of its diversity and inclusion efforts, Absa Bank Uganda collaborated with various organizations to support girls and teen mothers in staying in school. Partnerships with entities like World Vision, Wakisa Ministries, and Mukono High School enabled the bank to assist 2,649 girls through the proceeds of the Absa KH3 7-Hills Run, organized in partnership with the Kampala Hash House Harriers.
Absa Bank Uganda prioritizes sustainable lending, integrating environmental and social responsibility into its lending decisions. Aligned with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement, the bank identifies, avoids, mitigates, and manages risks and impacts associated with its business operations.
Efforts to reduce the bank’s carbon footprint include enhancing operational efficiencies related to energy usage, water management, and waste management. These measures resulted in a 30% energy saving across operations in the previous year.
Additionally, the bank has committed to planting and nurturing 1 million indigenous, medicinal, and fruit trees over three years through partnerships with various organizations and institutions.
In 2023, Absa Bank Uganda reached over 40,000 beneficiaries through financial literacy programs and supported capacity-building initiatives for SMEs. The ReadytoWork program prepared youth for the workforce, contributing to sustainable economic growth.
Helen Nangonzi Basuuta, Marketing and Customer Experience Director at Absa Bank, expressed pride in the bank’s achievements and gratitude to partners. Basuuta affirmed the bank’s commitment to deepening the impact of its initiatives in line with its corporate purpose of empowering Africa’s tomorrow.
