Sustainability Banking in Africa
The key aims of this report are to define what sustainability banking means in the African context, to analyze the current role of the finance sector in the promotion of sustainability in Africa and in so doing provide examples that are potentially replicable elsewhere across the continent.
The drivers, challenges and opportunities of sustainability banking in Africa are highlighted, along with a series of current product, process and market innovations that demonstrate the potential of sustainability practice within the African finance sector.
Evidence from the Report points to the emergence of a dynamic business case for sustainability banking in sub-Saharan Africa –derived from new corporate governance standards, better regulatory frameworks, and increased financial sector capacity to implement sustainability practices and to enter or create new markets. Although there is an impressive range of financial innovations supporting sustainability in Africa, there is clearly the need for further innovation regarding efforts to understand and address African specific sustainability problems. The Report deduces that greater access to financial services and SME support can provide solutions for these problems, especially as financial “exclusion” is seen as an acute issue of concern in Africa, not simply as a matter of inconvenience, but potentially as a denial of a basic right.