Stanbic Holdings Plc has announced remarkable progress in fostering gender equity and equitable remuneration across its workforce. The Group’s 2024 Sustainability Report highlights its achievements in creating a balanced and inclusive workplace, underscoring its commitment to empowering employees and driving meaningful change.
The Group’s male-to-female ratio stands at 51:49, reflecting a near-balanced workforce compared to its targeted 50:50 benchmark. At the leadership level, the group has achieved a 50:50 gender parity (excluding the CEO), with women now holding 57% of Board positions. This underscores the Group’s dedication to advancing gender diversity in decision-making roles, setting a benchmark within the financial services industry.
According to its 2024 sustainability report, the Group has achieved notable gender pay parity, with female employees earning, on average, KShs 1.02 for every KShs 1 earned by their male colleagues. This milestone not only aligns with market standards but also highlights the success in closing gender-based pay gaps and fostering a culture of equal opportunity.
Stanbic Bank Kenya and South Sudan Chief Executive Dr Joshua Oigara further noted that the Group made remarkable progress in 2024 in its ongoing commitment to sustainable growth, achieving significant milestones that enhanced value for both clients and shareholders.
“Sustainability remained deeply embedded in the Group’s strategy and ambitions, as we executed and delivered various initiatives across different business segments. Our enduring commitment to integrating ESG principles into our operations influenced the design of our products, the services we offered, and the sectors we choose to engage in,” Dr Oigara said.
Equitable remuneration is a critical component of DEI, as it ensures that employees are rewarded fairly for their contributions, regardless of gender. Stanbic Holdings’ achievement in this area reflects its dedication to creating a workplace where all employees feel valued and supported.
Stanbic Holdings Fostering Inclusion for Differently-Abled Employees
Stanbic Holdings’ inclusivity efforts extend beyond gender equity to include differently-abled individuals. While current representation stands at 0.7%, slightly below the 1% target, the Group is proactively partnering with specialized institutions to bridge this gap. Recruitment initiatives are also underway to identify qualified candidates, underscoring Stanbic’s resolve to not only meet but exceed diversity goals.
Creating an inclusive workplace for differently-abled individuals is essential for fostering innovation and driving social impact. By prioritizing diversity in all its forms, Stanbic is setting an example for other organizations to follow, demonstrating that inclusivity is not just a moral imperative but a strategic advantage.
Stanbic Holdings’ journey toward gender equity and equitable remuneration has been marked by steady progress. In 2021, the Group’s male-to-female ratio stood at 53:47, with women holding 36 senior management positions compared to 51 held by men. By 2024, the ratio had improved to 51:49, with women occupying 97 senior management positions compared to 131 held by men. This upward trajectory highlights the Group’s commitment to advancing gender diversity and creating opportunities for women to excel in leadership roles.
Similarly, Stanbic’s efforts to achieve equitable remuneration have evolved over the years. The Group’s focus on closing pay gaps and aligning compensation practices with market standards has resulted in significant improvements, ensuring that female employees are rewarded fairly for their contributions. These achievements reflect Stanbic’s dedication to fostering a culture of fairness and inclusivity, setting a benchmark for other organizations in the industry.
Achieving gender equity and equitable remuneration is not just a matter of fairness; it is a strategic imperative for organizations seeking to thrive in today’s competitive landscape. Research has shown that diverse teams are more innovative, productive, and better equipped to address complex challenges. By fostering inclusivity, organizations can unlock the full potential of their workforce, driving sustainable growth and creating value for stakeholders.
Equitable remuneration is also critical for attracting and retaining top talent. Employees are more likely to stay with organizations that value their contributions and reward them fairly. By addressing pay disparities, Stanbic is not only empowering its workforce but also strengthening its employer brand, positioning itself as a leader in the financial services industry.
Stanbic’s achievements in gender equity and equitable remuneration set it apart as a leader in the financial services industry. While many organizations are still grappling with DEI challenges, Stanbic has demonstrated that meaningful progress is possible with a clear strategy and unwavering commitment. By prioritizing inclusivity and fairness, the Group is not only driving positive change within its organization but also inspiring others to follow suit.
As Stanbic continues its journey toward gender equity and equitable remuneration, the Group remains focused on creating a workplace where all employees feel valued, respected, and empowered to thrive. By leveraging targeted initiatives, such as mentorship programs, equitable hiring practices, and partnerships with specialized institutions, Stanbic is paving the way for a more inclusive and sustainable future.
The Group’s commitment to diversity, equity, and inclusion is not just about meeting targets; it is about creating a culture of belonging where every employee can show up authentically and contribute meaningfully to the organization’s success. As Stanbic looks ahead, its vision for the future is clear: to be a leader in DEI, driving positive change and setting a benchmark for others to follow.
Stanbic Holdings Plc’s progress in achieving gender equity and equitable remuneration is a testament to its commitment to fostering inclusivity and fairness. By prioritizing diversity in all its forms, the Group is not only driving sustainable growth but also creating a workplace where employees feel valued and empowered to thrive. As Stanbic continues its journey, its achievements serve as an inspiration for other organizations, demonstrating that meaningful progress is possible with a clear strategy and unwavering commitment.
By addressing pay disparities, advancing gender diversity, and fostering inclusion for differently-abled individuals, Stanbic is setting a benchmark for the financial services industry, proving that DEI is not just a moral imperative but a strategic advantage. As the Group looks ahead, its vision for the future is clear: to be a leader in DEI, driving positive change and creating a more inclusive and sustainable world.
The Bank also introduced a dedicated sustainability scorecard to track progress against targets, linking executive performance to Environmental, Social, and Governance (ESG) outcomes and took steps towards achieving a 50:50 gender balance. Currently, youth make up a third of the Group’s workforce, while differently abled individuals account for 0.7%, approaching the Bank’s target of 1%. Additionally, four out of seven board members are female, further underscoring diversity as a cornerstone of the Group’s social pillar.
Ms. Priscilla Were, Head, Sustainability at Stanbic Bank, said that climate change mitigation and environmental stewardship are central to the Group’s operations.
“Our aim of greening our portfolio by 10% began in 2019 with a key focus on sustainable agriculture, renewable energy and projects that address climate change adaptation. This involves understanding the current and potential environmental and social risks that our clients are prone to,” she said.
She added: “In line with our decarbonization goals, we transitioned some branches to solar power, with plans to fully solarize the Head Office, a critical step toward reducing our carbon footprint and planted 8,000 trees to restore ecosystems.”
The Group enhanced its Environmental and Social (E&S) risk framework, screened all loans above $1 million for environmental and social risks and achieved a 99.92% waste recycling rate.
Since 2020, Stanbic has disbursed more than KSh 180 million to help small businesses grow and sustain their operations. In 2024, the Group extended KSh 63 million as concessionary funding to micro, small, and medium enterprises (MSMEs) through the Stanbic Foundation. The Foundation, which celebrated 5 years of operation in 2025, has facilitated capacity building for over 40,000 MSMEs and equipped over 250,000 individuals with digital skills trainings.
To date, the Group has disbursed nearly KSh 37.8 billion, providing women with affordable financing to expand their enterprises and strengthen their contribution to Kenya’s economy.
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