Absa Bank Uganda has been honored with the titles of the best Corporate Social Responsibility (CSR) Bank and the best bank for sustainable development in Uganda at the 2024 Global Banking and Finance Awards. The recognition acknowledges Absa’s environmental, social, and governance (ESG) initiatives that contribute to climate action, financial inclusion, and diversity and inclusion.
The awards aim to highlight innovation, achievement, and excellence within the global financial community, recognizing organizations for their expertise and positive contributions. Absa Bank Uganda’s commitment to driving positive change through initiatives in financial inclusion, education, and sustainable development played a key role in securing the accolades.
This marks the second time Absa has received the best CSR bank award, with the first recognition in 2020. The bank’s efforts in education and skills development training programs, active community support, and various initiatives have contributed to its leadership in the industry.
Mumba Kalifungwa, Absa Bank Uganda’s Managing Director, expressed gratitude for the recognition and highlighted the bank’s dedication to creating a positive impact in the communities it serves. The bank’s partnerships with organizations supporting girls and teen mothers in school, financial literacy programs, and sustainable lending practices were acknowledged as key contributors to its success.
Absa Bank Uganda aligns its business practices with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement. The bank is committed to reducing its carbon footprint, implementing sustainable lending decisions, and focusing on operational practices that prioritize positive environmental, social, and economic impact while mitigating negative impacts.
The bank’s achievements include a 30% energy saving across its operations in the previous year, financial literacy initiatives reaching over 40,000 beneficiaries in 2023, and support for practical capacity-building initiatives for SMEs. The ReadytoWork program has been preparing youth for the world of work, emphasizing Absa’s corporate purpose of empowering Africa’s tomorrow. Helen Nangonzi Basuuta, Absa’s Marketing and Customer Experience Director, expressed pride in the strides made and the ongoing commitment to sustainable initiatives.
The global recognition affirms Absa Bank Uganda’s leadership in incorporating corporate social responsibility and sustainability into its core business practices, contributing to positive social impact and economic development in Uganda.
