Researchers in the banking sector have been encouraged to make research more accessible by using simpler language, ensuring that research outputs are more effective in solving market problems.
Thought leaders, policymakers, and industry experts at the 13th Annual Kenya Bankers Association (KBA) Research Conference, cited this among the critical challenges and facing the banking industry.
Themed “Banking Sector Resilience: Navigating Macro-Imbalances, Responsiveness to Evolving Business Landscapes, and Driving Sustainability,” the conference seeks to explore how banks can navigate the changing business landscape.
The Vice Chair of the KBA Governing Council and CEO of Credit Bank, Betty Korir, said that the banking institutions will need to adapt to be able to navigate economic downturns, geopolitical conflicts, and technological disruptions.
"The banking sector must foster an environment of proactive thinking and strategic responses to continue playing a pivotal role in the nation's socio-economic development," she said.
The conference also highlighted the importance of sustainability, with discussions focused on integrating environmental, social, and governance (ESG) principles into banking practices.
KBA's Sustainable Finance Initiative was lauded for mobilizing industry players to prioritize sustainable banking practices that support Kenya's broader climate and socio-economic development goals.
KBA Acting CEO Raimond Molenje reiterated KBA's commitment to driving transformation through evidence- based advocacy.
He emphasized that the conference plays a vital role in producing knowledge that informs policy and helps the banking sector remain resilient while promoting sustainable growth.
The keynote address was delivered by Victor Murinde, Executive Director of the African Economic Research Consortium (AERC), who presented insights on the challenges and opportunities in financial intermediation within resource-based countries.
The participants are expected to engage in robust discussions aimed at fortifying the banking sector’s resilience and its ability to respond to evolving business landscapes while driving sustainability for long-term growth.