Absa Bank Kenya and Safaricom partner for Mangrove reforestation in Kilifi County

Absa Bank Kenya and Safaricom have joined forces in a groundbreaking initiative, pledging two million Kenyan shillings towards the preservation of coastal ecosystems in Kilifi County through a mangrove re-afforestation project.

The announcement, made during the 2024 Magical Kenya Ladies Open, outlines plans to plant and nurture 100,000 mangrove trees, a critical effort aimed at restoring the delicate balance of coastal ecosystems. Working hand in hand with the Takaungu Beach Management Unit, a local community organization, the partnership aims to make a tangible impact on environmental conservation.

Yusuf Omari, Chief Financial Officer of Absa Bank, highlighted the significance of this collaboration, emphasizing the bank’s commitment to sustainability and community well-being. He stated, “Our partnership with Safaricom to undertake mangrove re-afforestation reflects a sustainable approach to preserving biodiversity, mitigating climate change effects, and enhancing the resilience of coastal ecosystems.”

Safaricom’s Director of Sustainable Business, Social Impact & Foundations, Karen Basiye, echoed this sentiment, noting, “This partnership is a reflection of Safaricom’s commitment to its Environmental, Social, and Governance agenda. It will also take us a step closer to being a net-zero carbon-emitting company by 2050.”

Dirk Glittenberg, Managing Director of U.COM Events, commended the proactive stance of Absa Bank and Safaricom in environmental preservation, emphasizing the significance of mangrove trees in combating climate change. He stated, “Mangrove trees are vital in the fight against climate change, and this initiative demonstrates a meaningful commitment to environmental conservation.”

Mr. Omari further outlined Absa Bank’s broader commitment to sustainability, aiming to plant over 1.5 million trees countrywide this year and becoming a net-zero organization by 2040. These efforts align with government initiatives to increase forest cover to 30 percent by 2032.

Mangrove trees, often referred to as the ‘lungs of our coastlines,’ play a crucial role in sequestering carbon dioxide and providing natural barriers against storms and tsunamis, underscoring the importance of preserving these ecosystems for the well-being of coastal communities and the planet at large.