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The Group’s CSR governance 


BANK OF AFRICA can count on a number of specialised bodies to help steer its CSR policy. In 2019, the Bank bolstered CSR governance by establishing an Environmental, Social and Sustainability (ESS) Committee. 
The ESS committee, which is chaired by the Group Executive Managing Director, is responsible for monitoring and overseeing the implementation and updating of the Group’s environmental, social and sustainability goals. Its tasks and responsibilities consist of :

  1.  Ensuring that the Environmental, Social and Gender action plan is implemented across the Group
  2.  Ensuring that E&S risk management practices within the Group are effective
  3.  Developing and monitoring Sustainable and Inclusive Finance performance indicators
  4.  Supervising sustainable development and CSR global initiatives

In 2021, the Environmental and Social Sustainability Committee met twice and dealt with around 37 issues relating to environmental and social risks, gender parity, implementing the CSR Charter at Group level and promoting impact finance. The Committee also monitored the Group’s environmental and social undertakings and indicators related to compliance with the exclusion list and oversaw implementation of the environmental and social management system (ESMS) and integration of climate-related risks in Morocco and at BOA subsidiaries.

Presenting the CSR Charter 

In 2018, BANK OF AFRICA formalised its ethical and environmental undertakings by drawing up a CSR Charter. This Charter guides the Group’s sustainable growth model and its practices. 
The Charter is underpinned by 6 key undertakings which are in turn sub-divided into 31 ethical, social and environmental commitments 




    The outlook for the Group revolves around the CSR Charter’s aims and indicators which cover every aspect of our action: that of the Foundations and of the Group's social engagement, our own activity and governance and, lastly, our financial activity in all its forms: banking, insurance, specialised finance companies, financial market operations and asset management.

    Our goal is to promote inclusion and opportunity from both a social perspective (health, education, housing, food security, etc.) and an economic one (jobs, developing the manufacturing industry, the tertiary sector, the agri-food sector, etc.).

    Our range of digital banking services are a vital vehicle for inclusion.

    BANK OF AFRICA is continuously looking at ways to improve and embed the CSR Charter’s various undertakings within its operations. It therefore continues to launch new programmes and improve existing ones:

    • Developing positive impact finance by better analysis of the positive and negative impacts generated by our activity
    • Continuing to improve our range of digital services
    • Contributing to Africa’s development
    • Developing initiatives for women entrepreneurs
    • Continuing to roll-out initiatives for small businesses and SMEs
    • Helping combat the informal economy
    • Helping combat climate change and accelerate Morocco’s energy independence
    • Helping redefine the way in which Morocco adapts to climate change and providing private sector funding
    • Contributing to education, health and housing.

    Analysis of the Group's CSR performance highlights the ongoing engagement and commitment of the Bank and of its subsidiaries to CSR issues. The need to integrate sustainability considerations is a new phenomenon which is disrupting organisations’ policies and processes. It is also vital that the Group employs every available channel of communication regarding ESG issues to ensure employee engagement with this change management process.

    A CSR Charter implementation plan has been adopted to help the Group develop its undertakings and mobilise employees.

    Three major pillars underpinning the CSR charter’s implementation plan 

    1. Annual self-appraisal process: A self-appraisal process is conducted by each subsidiary on a participatory basis based on the Sustainability & CSR reference framework. This process encompasses the Charter’s six undertakings and enables the Group to provide employees with detailed content of each of the Charter’s commitments. The selfappraisal process also allows for a more in-depth understanding of the key issues and encourages employees to achieve the goals related to each of the Charter’s goals. 
    2. Sustainability & CSR action plan reference framework: The reference framework is drawn up by each subsidiary based on the results of the selfappraisal, corporate strategy, the cornerstone projects in progress and best industry practice. 
    3. Sustainability & CSR reporting process comprises a series of key indicators for each CSR Charter commitment. This enables the Group to measure progress made and build on the results obtained and impacts generated. This reporting process is standardised at subsidiary level to ensure that results are consolidated and shared effectively. 


    In 2021, BANK OF AFRICA and its subsidiaries carried out an assessment of the maturity level reached for each goal based on the performance obtained from its responsible practices.

    Materiality of undertakings

    The results of the materiality analysis of BANK OF AFRICA’s CSR goals, conducted during a series of workshops, is shown schematically in the following matrix. A detailed analysis of goals by undertaking presented in this overall matrix is provided in the following pages:


    Materiality of SDGs

    In 2021, BANK OF AFRICA enhanced its materiality analysis by assessing the Sustainable Development Goals which frame the Bank’s various initiatives:


    Learn more about our process