Promoting holistic sustainability among member DFIs is one strategic objective of the Association of African Development Finance Institutions( AADFI). The Association has been championing this agenda through thought programs and activities it has initiated. From January 23 to 24, 2024, the Association conducted an Executive Study visit to the Uganda Development Bank (UDB) Ltd to benchmark the implementation of holistic sustainability in sustainability-certified national DFIs.
The UDB is leading sustainability among African national DFIs, having demonstrated with evidence the values and benefits of being sustainability certified. The visit to UDB hinged on embracing the sustainability standards to achieve world-class corporate governance to create social, economic, and environmental impact, besides tackling climate change.
Speaking at the opening session, Cyril Okoye, Secretary-General of AADFI, emphasized that being a sustainability-certified DFI is no longer an option for member DFIs but a necessity if they must add value in achieving national development and be relevant in contributing to solutions for addressing the shift in the climate change impact.
The visit was attended by 35 C-class executives, CEOs, and board members of national DFIs from various African sub-regions.
Mr. Arshad Rab, CEO of the European Organization for Sustainable Development (EOSD), presented a keynote address on the theme “Toward a sustainable, future-proof economy – How national DFIs address the macro-economic challenges for national development.” Ms. Patricia Ojangole, 1st vice Chairperson of AADFI and Managing Director of UDB, attested to the positive impact of being sustainably certified DFI as evidenced in the bank’s operations and successes in addressing Uganda’s social, economic, and environmental agenda.
