Absa Bank Kenya, in partnership with Safaricom, has rolled out an initiative plant and nurture 100,000 mangrove trees in efforts aimed at preserving coastal ecosystems in Kilifi County
The initiative worth Kshs 2 million, which has been launched on the sidelines of the ongoing 2024 Magical Kenya Ladies Open, is aimed at restoring the fragile mangrove ecosystems along the coastline.
Absa Bank’s Chief Financial Officer, Yusuf Omari, says the initiative that is being implemented in partnership with, Takaungu Beach Management Unit, a local community group, underscores the bank’s sustainability agenda, aligning with its partners’ shared values of environmental stewardship and community empowerment.
“As an active force for good brand whose heart beats for our communities, we care about the communities around us and the environment in which we operate. Our partnership with Safaricom to undertake mangrove reafforestation reflects a sustainable approach to preserving biodiversity, mitigating climate change effects, and enhancing the resilience of coastal ecosystems,” said Omari.
Safaricom Director, Sustainable Business, Social Impact & the Foundations, Karen Basiye, said: “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.”
U.COM Event Managing Director Dirk Glittenberg said: “Mangrove trees are vital in the fight against climate change, and this initiative demonstrates a meaningful commitment to environmental conservation. By partnering with local communities, these organizations are not only safeguarding our planet but also empowering coastal residents.”
Mangrove trees, known as the ‘lungs of our coastlines’, absorb up to 900 tonnes of CO2 annually, aiding in combating the climate crisis.
Omari said: “This year, we are targeting to plant over 1.5 million trees countrywide as part of our wider commitments and become a net-zero organization by 2040. We believe our efforts will also complement the government’s initiatives towards achieving 30 percent forest cover by 2032.”
The robust root systems of mangrove trees serve as effective barriers against storms and tsunamis, mitigating damage to coastal communities and reducing the impact of these catastrophic events.