NAIROBI: Absa Bank Kenya has joined forces with the International Finance Corporation (IFC) to train over 600 suppliers over the past two years, enhancing their readiness to engage in corporate procurement. The collaboration aims to diversify supply chains and increase inclusivity in procurement processes, particularly for women, youth, and individuals with disabilities.

According to Kenya News Agency, the initiative is part of the IFC’s Sourcing2Equal Kenya program, which recently held a training session for more than 100 suppliers. This session aimed to broaden the supplier base and improve access to procurement opportunities for underrepresented groups. Charles Wokabi, Absa Bank Kenya’s Head of Sustainability and Corporate Affairs, highlighted the bank’s goal to boost its supplier diversity and inclusion ratio from 18% to 30% by 2025.

Mr. Wokabi emphasized the bank’s dedication to achieving Sustainable Development Goals and advancing sustainability initiatives. The training programs incorporate environme
ntal, social, and governance factors to promote corporate sustainability and responsible business practices among supply chain partners.

The IFC praised Absa Bank Kenya for its commitment and underscored the role of supply chains in driving sustainable impact. Anne Kabugi, Regional Gender Africa Lead at IFC, noted that corporate supply chains could significantly benefit women entrepreneurs and underserved groups. The Sourcing2Equal Kenya project, supported by the Women Entrepreneurs Finance Initiative and Norway, aims to close the gap in corporate spending with women suppliers, currently estimated at less than three percent.

The training session also featured collaboration with the Kenya National Chamber of Commerce and Industry – Nairobi County Chapter, Youth Connect Kenyan Chapter, and We Connect International, providing SMEs with essential skills for sustainable business practices and accessing procurement opportunities.