Absa Bank Kenya is taking huge steps in promoting inclusivity in its supply chain, and the world is taking notice.
The bank was recently recognized by the International Finance Corporation (IFC) for its role in advancing inclusive sourcing practices through the Sourcing2Equal Kenya Program, a three-year initiative aimed at connecting more women-owned businesses to corporate procurement opportunities.
Since joining the program in 2021, Absa has tripled the percentage of women-owned suppliers in its supply chain, growing from just 6% to 18% as of 2025. The bank now has its sights set on reaching 30% by the end of the year, with a focus on supporting not only women entrepreneurs but also youth and persons with disabilities (PWDs).
Inside the Sourcing2Equal Kenya Program
The Sourcing2Equal Kenya Program was launched in 2021 by the IFC, a member of the World Bank Group, with backing from the Women Entrepreneurs Finance Initiative (We-Fi) and the Government of Norway.
Kenya was selected as the pilot country for the initiative, which aims to connect over 1,200 women-led small and medium enterprises (WSMEs) to large corporate buyers, including the likes of Absa, Safaricom, and Unilever.
The program addresses the main challenges that women entrepreneurs face, limited access to finance, networks, and market information, and helps corporations build more inclusive supply chains.
Absa Bank Sourcing2Equal Kenya Program
As a major participant of the Sourcing2Equal Kenya Program, Absa Bank Kenya has integrated the program into its sustainability and ESG strategy by:
- Setting a target to diversify its supply chain to 30% women, youth, and persons with disabilities by 2025.
- Training over 600 suppliers in partnership with IFC, including more than 100 women-led businesses, to prepare them for high-level procurement opportunities.
- Hosting workshops and matchmaking events that connect underrepresented suppliers with Absa procurement teams.
- Developing a supplier diversity policy and soon-to-be-launched supplier portal to streamline the onboarding of diverse suppliers.
Read: Absa Kenya Foundation: Fostering Positive Change Through Four Pillars
The Absa Bank Sourcing2Equal Kenya Program is also built on strong partnerships, working alongside organizations like the Kenya National Chamber of Commerce and Industry (KNCCI), Youth Connect Kenya, and WeConnect International to identify and support women-run businesses.
Real Impact, Real Opportunities
The hard work is paying off, for both buyers and suppliers.
Across all 10 participating corporations, including Absa Bank Kenya, Naivas Supermarket, Stanbic Bank Kenya, and Safaricom PLC, numerous best practices were implemented to bring more women into the supply chain. These efforts have directly led to 345 new contracts for women-owned businesses. Most of these businesses reported not only increased revenues but also job creation as a direct result.
“Sourcing2Equal has played a unique role in Kenya, creating a bridge between large corporate buyers and women entrepreneurs, benefitting both, while contributing to the country’s overall economic development,” said Gillian Rogers, IFC Principal Country Officer for Kenya. “Supply chains that are more gender inclusive have been shown to deliver many benefits, including increased corporate competitiveness, enhanced brand value & even improved product quality. With our partners, IFC is committed to supporting women-led businesses to access the opportunities on an equal footing with men.”
Working with Partners on the Ground
To ensure it reaches the right businesses, Absa collaborates with organizations like the Kenya National Chamber of Commerce and Industry (KNCCI), Youth Connect Kenya, and WeConnect International. These partnerships help identify promising women-run companies and equip them with the tools they need to compete in the corporate world.
This month, Absa Bank Sourcing2Equal Kenya Program efforts were formally recognized by the IFC during a high-level event co-hosted by We-Fi and the Government of Norway. The award acknowledged the bank’s remarkable progress in inclusive sourcing, particularly its success in tripling the percentage of women-owned businesses in its supply chain over a four-year period.
“This recognition is not only a stamp of approval to our commitment in improving access to finance for underrepresented groups,” said Gilbert Kipkorir, Absa’s Head of Sourcing & Commercial Services. “We are not just funding businesses, we’re transforming procurement into a tool for meaningful economic opportunity.”
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.