Stanbic Bank Uganda has been recognised for its deep commitment to sustainable business practices, winning the prestigious ESG Excellence Award at the Uganda Bankers Awards Gala.
The accolade, presented by the Uganda Institute of Banking and Financial Services, the Uganda Bankers’ Association (UBA), and the Bank of Uganda, highlights the bank’s leadership in embedding Environmental, Social, and Governance (ESG) principles into its core operations.
According to Cathy Adengo, the award is “a true testament to our unwavering commitment to embedding ESG principles and sustainable business practices that create lasting positive impact in Uganda.”
Strategy Anchored in Measurable Impact
Stanbic Bank’s sustainability strategy is built on a framework that drives critical national priorities, with ESG performance serving as a key metric for measuring overall impact. The bank focuses on three interconnected pillars: Social, Economic, and Environmental, while continuously strengthening its approach to ESG risk management.
The bank’s achievements in 2024 demonstrate a tangible focus on key developmental goals, with financial commitments totalling well over Shs1.1 Trillion across these pillars:
Growing Ugandan SMEs (Economic Pillar)
Adengo revealed that the bank extended Shs973 billion in financing to support the growth and resilience of Small and Medium Enterprises. This massive injection of capital, according to her, directly supports job creation and economic stability across the country.
Women Economic Empowerment (Social Pillar)
She also revealed that through its “Stanbic for Her” program, the bank channelled Shs94.6 billion in financing to women-owned businesses and individuals. This effort is crucial for increasing financial inclusion and scaling women-led ventures.
Supporting Education (Social Pillar)
She underscored that the bank provided Shs49.4 billion in loans to schools and tertiary institutions, directly strengthening the capacity and access within Uganda’s education sector.
Boosting Renewable Energy (Environmental Pillar) Stanbic committed Shs62 billion in financing to accelerate the adoption of renewable energy in Uganda. This initiative facilitates the transition to cleaner energy sources and supports the country’s climate goals.
Championing an Inclusive Future
The impressive financial commitments underscore that Stanbic Bank views ESG not merely as a compliance exercise but as a core driver for inclusive growth. The dedicated financing for Renewable Energy adoption positions the bank as a key facilitator of Uganda’s transition to a cleaner energy future, managing environmental risks while supporting climate-friendly infrastructure.
The recognition from the banking sector’s highest bodies serves as validation of Stanbic’s comprehensive, impact-driven approach. The bank has reiterated its commitment to continue championing sustainability and ESG excellence, promising a lasting positive impact for communities, businesses, and the environment, thereby shaping Uganda’s future.