Corporate Involvement in the Sustainable Development Goals: The Case of Banks in Sub‐Saharan Africa

ABSTRACT This study examines the extent of banks' involvement in the Sustainable Development Goals (SDGs) and factors influencing their participation in Sub‐Saharan Africa (SSA). Previous studies have highlighted the dearth of research conducted in developing countries. The study employed an explanatory sequential mixed‐methods approach across six countries underpinned by legitimacy and corporate sustainability theories. The quantitative phase involved 61 banks, utilizing content analysis, followed by a qualitative phase with 14 interviewees. The findings reveal a low depth of SDG involvement but a relatively higher breadth of engagement and awareness. Banks prioritize SDGs 13, 8, 5, 4 and 3, aligning with their core business and allowing them to make a positive impact, consistent with corporate sustainability and legitimacy theories. The results reveal challenges that impede progress among banks in SSA. The findings can serve as a guide for policymakers and practitioners in creating an enabling environment that supports the banking sector to increase its contribution to the SDGs.