By Delisa Thwala
Standard Bank recently won recognition for being the leading bank in sustainable finance from the African Banker.
The African Banker Awards have entered their 18th year. They celebrate the achievements of individuals and institutions that have contributed significantly to growing and developing Africa’s financial services sector.
This year’s nominees were selected from a record number of entries drawn from across the continent.
Standard Bank beat five leading financial institution competitors to win the prestigious honor.
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The Sustainability Award goes to an African bank that has demonstrated a sustainable agenda by creating environmental,
social, and financial value across its operations while deploying an impactful and holistic approach to ESG issues across the bank’s operations and respective geographies.
“We are incredibly proud of this accolade; it serves to demonstrably highlight the impact of the work we are doing in sustainable finance,” said Kenny Fihla, Standard Bank group’s chief executive for corporate and investment banking.
Standard Bank has committed to achieving a net zero portfolio by 2050, has set climate targets in carbon-intensive sectors, and has pledged more than E250 billion to sustainable finance by the end of 2026.
Fihla adds: “Client-centricity is at the heart of our climate policy; partnering with our clients to mitigate emissions and build climate resilience and providing innovative and sustainable finance solutions that support their sustainability journeys.”
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This year’s awards ceremony, held in Nairobi, saw a focus on the development of financial institutions,
with widespread success, in both institutional and individual categories, and representing the increased growth they enjoy in the African financial ecosystem.
Meanwhile during the Energy Indaba 2024 held last month, Standard Bank Eswatini Chief Executive (CE) Mvuselelo Fakudze said client electricity was at the heart of their climate policy because they were intentional about partnering with their clients to offer innovative and sustainable finance solutions that support sustainability journeys.
