KENYAN BANK JOINS UN GLOBAL COMPACT NETWORK

Kenyan Family Bank Joins United Nation Compact Network. PHOTO /VERA SHAWIZA

FAMILY BANK OFFICIALLY JOINS THE UNITED NATIONS GLOBAL COMPACT NETWORK

 

By Vera Shawiza

 

Family Bank officially joined the United Nations Global Compact

network underscoring its commitment to undertaking sustainable

and responsible business to

advance inclusive development. Family becomes the 4th bank to

commit to building a sustainable business in Kenya.

“It gives us great pleasure to join the United Nations Global Compact

network after a rigorous vetting procedure. This

membership reaffirms our commitment to building a sustainable

business and we believe that by joining this Network, Family Bank

will advance corporate sustainability in Kenya. For long-term

business growth and positive social impact, Family Bank will

benchmark against global practices and access technical guidance

and thought leadership from the United Nations Global Compact

network,” said Family Bank CEO Rebecca Mbithi.

This membership is in line with the Bank’s 2020 –

2024 Strategic Plan, dubbed ‘take-off’ that is aligned to 13 of the 17

United Nations Sustainable Development Goals (SDG) and

the United Nations Environment Programme (UNEP) Finance

Initiative on Responsible Banking and Sustainable Financing aimed

at delivering value and creation of a sustainable future for all.

“We pride ourselves in empowering families, the core unit of any

society, through sustainable social investment programmes that

resonate with our customers. Currently, these Shared Value

Initiatives focus on youth via education through High School

scholarships and mentorship programmes, inclusive education for

children with special needs, nurturing sports talent, agribusiness,

construction, Information & Communications Technology (ICT),

water, sanitation and hygiene (WASH) as well as environmental

conservation for climate change adaptation. The Bank has set aside

KES 300M to advance these initiatives through the Family Group

Foundation,” said Family Bank CEO Rebecca Mbithi.

Family Bank joins more than 12,000 member companies in over 160

countries that are aligning their operations and

strategies to universal principles on human rights, labour,

environment and anti-corruption. This membership will facilitate

the Family Bank to take strategic action towards broader societal

goals using a principle-based approach to significantly contribute to

the attainment of the global Sustainable Development Goals (SDGs)

by 2030.

“We want to officially welcome Family Bank, the 4th bank in Kenya

to make a public commitment to adhere to the Ten Principles of

human rights, labour, environment and anti-corruption, to the UN

Global Compact network. This is a true testament that the Bank’s

leadership is taking the necessary steps to advance sustainability,

not just in the Kenyan market, but regionally and globally,” said UN

Global Compact Kenya Network Executive Director Judy Njino.

“We are ready to work with Family Bank and promote its

competitiveness within the global space and provide the necessary

frameworks and best practices on how to internalise the principles

of sustainable business within their strategies and operations,” she

added.

Founded in 2000 as a special initiative of the UN Secretary-General,

the United Nations Global Compact is a call for private

sector companies everywhere to align their operations and

strategies with the Ten Principles in the areas of human rights,

labour, environment and anti-corruption. All participating

companies are required to publicly submit an annual

Communication on Progress (COP) report that details their

respective organization’s activities on the implementation

of these Principles to support the achievement of the global SDGs.

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