Absa Bank Kenya Head of Sustainability and Corporate Affairs Charles Wokabi and IFC Sourcing2Equal Kenya Project Coordinator Alice Michira take Cowboys and Cowgirls Apparels and Events Kenya Director Elijah Manyeki (C) through the procurement process during the corporate procurement readiness training at Clarence House that included an expanded supplier base of women, youth, and persons living with disabilities.
Absa Bank Kenya has joined forces with the International Finance Corporation (IFC), a member of the World Bank Group, to train over 600 suppliers over the past two years, preparing them to take advantage of corporate procurement opportunities. The partnership forms part of the IFC’s Sourcing2Equal Kenya program, designed to promote inclusive sourcing practices and enhance supplier readiness.
At a recent training session held under this initiative, more than 100 suppliers, including women, youth, and persons living with disabilities, received corporate procurement readiness training. The initiative seeks to equip underserved groups with the tools and expertise necessary to compete in corporate supply chains.
Speaking at the event, Charles Wokabi, Absa Bank Kenya’s Head of Sustainability and Corporate Affairs, reiterated the bank’s commitment to diversifying its supply chain. Absa Bank aims to increase its supplier diversity and inclusion ratio to 30 percent by 2025, up from the current 18 percent. This strategic move is expected to widen opportunities for women, youth, and individuals with disabilities in the corporate procurement space.
“We are committed to achieving the Sustainable Development Goals (SDGs) and advancing our sustainability initiatives. As we diversify our supply chains, we prioritize environmental, social, and governance (ESG) factors in our training programs to raise awareness of corporate sustainability and responsible business practices among our supply chain partners,” said Wokabi.
Absa Bank Kenya Head of Sustainability and Corporate Affairs Charles Wokabi and Sustainability, Governance, Risk & Reporting Manager Fredrick Adungo (R) take Ultimate Solutions Agencies CEO Mercy Waithanji through the procurement process during the corporate procurement readiness training at Clarence House that included an expanded supplier base of women, youth, and persons living with disabilities.
The IFC, through its Sourcing2Equal Kenya initiative, praised Absa Bank for its proactive stance on diversity and inclusion. According to Anne Kabugi, IFC’s Regional Gender Africa Lead, supply chains hold immense potential for driving change. “Corporate supply chains can be a true game changer for women entrepreneurs and other underserved groups striving to grow their enterprises to the next level,” Kabugi said. Currently, only 3 percent of corporate spending in Kenya is allocated to women-owned businesses, a gap IFC aims to close through partnerships like this one.
The recent training provided a platform for small and medium-sized enterprises (SMEs) owned by women, youth, and people living with disabilities to learn best practices for establishing sustainable businesses and accessing procurement opportunities.
Key partners in the event included the Kenya National Chamber of Commerce and Industry – Nairobi County Chapter, Youth Connect Kenyan Chapter, and We Connect International.