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Could climate change drive the next banking revolution in Kenya?
Banks will need to adopt a more forward-looking view. Physical risks such as droughts, floods and extreme heat can reduce output, damage property and interrupt business.
New climate disclosure requirements will demand significant preparation from banks. Those that use the available data and capabilities to improve their lending and risk management can build stronger and more resilient businesses.
East Africa has moved between climate extremes in recent years. A prolonged drought gripped the Greater Horn of Africa in early 2023, followed by severe flooding in 2024 that destroyed crops, damaged infrastructure and interrupted business in Kenya.
