Emily Okonjo Head of procurement Kenya and south sudan Stnbic Back Kenya Speech.

Story by Ayubu John photo journalist Afrimedia Group news.
Emily Okonjo Head of procurement Kenya and south sudan.
Our journey toward inclusive sourcing began in 2019 when the International Finance Corporation (IFC) supported us through its Equal Program. At that time, only 2% of our total procurement spend went to women-owned businesses. With IFC’s guidance and structured support, that figure rose to 9.5% in 2020. While we experienced some fluctuations in the years that followed, the momentum continued to build.
A defining moment came in August 2023, during the launch of our Sustainability Report, when our Regional CEO made a bold commitment: 15% of Standard Bank’s procurement spend would go to Special Interest Groups — women, youth, and persons living with disabilities — by 2025.
That commitment gave us a strong platform to formalize our strategy. Our procurement team developed an Inclusive Sourcing Policy, drawing insights from government frameworks and from our parent company, Standard Bank Group, particularly its B-BBEE guidance on supporting black-owned and black women-owned businesses in South Africa. In 2024, our Board approved this policy, providing the governance backbone we needed to move forward confidently.
From 2023, we grew from 5% to 10%, and by 2024–2025, we made a significant leap — reaching 15.6%, amounting to approximately KES 120 million directed to Special Interest Groups. However, we acknowledge that less than 0.23% has gone to youth and persons with disabilities, and this is an area we are intentionally working to strengthen.
This progress has been made possible through partnerships with UN Women, IFC, and Womankind International, who helped us access credible supplier databases and training support. Because we are a private entity and do not publicly advertise tenders, these partnerships have enabled us to identify and onboard qualified women-owned enterprises.
To further support these suppliers, we have introduced practical measures:
Relaxed KYP requirements
Reduced financial track record requirements from three years to one
Accelerated payment terms from 30 days to 7 days
This ensures stronger cash flow and sustainability for small businesses. We are also working to convert suppliers into customers, creating a full-circle empowerment model, complemented by training and capacity-building programs.
Looking ahead, we see significant growth opportunities — particularly in larger-value sectors such as software and infrastructure, where most of our procurement spend lies. We are encouraging more women-owned businesses to scale into these spaces beyond small-ticket contracts.
We are also collaborating with peer organizations such as Safaricom, Unilever, Kenya Airports Authority, Absa Bank Kenya, and East African Breweries Limited to collectively advance inclusive procurement across industries.
In closing, we are proud of the journey so far, but we recognize there is still more to do. With continued partnership, leadership support, and intentional action, we believe inclusive sourcing can truly transform lives and businesses across our country.
Thank you very much.

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