Browsing: Equity Bank Kenya

Equity Group

A closer look at Equity Group’s Third Quarter performance

Banking
  • Equity Group anticipates regulatory changes, currency fluctuations, and the broader economic repercussions of global events as obstacles in the future.
  • However, the regional lender looks well-positioned to overcome these obstacles due to its robust capital base, diversified business model, and continuous digital transformation.
  • Analysis shows that industry-specific factors, market sentiment, and macroeconomic conditions may be exerting an impact on the stock’s performance.

Amidst the ongoing repercussions of the pandemic and geopolitical unrest on a global scale, Equity Group Kenya, arguably the largest financial institution in East Africa, has exhibited exceptional fortitude and expansion during the three months ending September 30, 2023.

In spite of the tough economic climate characterized by inflationary forces and disruptions in the supply chain, Equity Group has disclosed a consistent upward trend in its fundamental financial indicators. An important growth driver has been the bank’s emphasis on digital innovation and customer-centric services, which have significantly …

James Mwangi and Wamkele Mene

Equity Bank to finance 5 million SMEs creating 50m jobs in AfCFTA

Regional Markets

A statement posted by Equity Bank on its website indicated the plan hopes to revive the economy in the continent following the COVID-19 pandemic that halted operations in different sectors leading to the loss of jobs.

In this, AfCFTA and Equity will work on the private sector economic recovery and resilience stimulus plan where the lender has seeded with a $ 6 billion (Sh 678 billion) fund focusing on food and agriculture, extractives, manufacturing and logistics, trade and investments, social impact, health and environmental investments.

Equity plans to finance over five million micro, small and medium-sized businesses (MSMEs) and 25 million vulnerable households by 2025 to support the creation of 50 million jobs.…

Equity UN

Equity Signs Partners to Accelerate and Enhance Attainment of SDGs   

Africa

A consortium of organizations led by Equity Group has signed a strategic partnership to accelerate the achievement of the Sustainable Development Goals (SDGs) in Kenya by 2030.

The partners include Equity Group Foundation together with the United Nations system in Kenya, and its SDG Partnership Platform.

In a statement, Equity Group said the strengthened partnership will promote and catalyze investments in the SDGs beyond short-term cycles, enabling the UN system in Kenya to reach more people on the ground through Equity’s strong brand in the community, its infrastructure network, development expertise and local knowledge.

Additionally, the partnership will promote social and financial inclusion improving economic outcomes for human development and contributing to the socio-economic transformation of Kenya.

The coming together of the two institutions is expected to support Kenya’s transition as an emerging Middle-Income country through harnessing innovative partnerships, investments, and financing to accelerate the SDGs for poverty alleviation, and …

Bridging the financing gap of SMEs in Africa

Bridging the financing gap of SMEs in Africa

Small Business

If there is one sector that receives great attention in Africa, then it must be the small and medium enterprises (SMEs) area. Over the years, governments and multilateral agencies have identified the great role played by the SMEs in providing jobs, services and contribution to domestic economies.  

A National Economic Survey report by the Central Bank of Kenya (CBK) two years ago indicated that SMEs constitute 98 percent of all businesses in Kenya, create 30 percent of jobs annually as well as contribute 3 percent of the GDP.  

The situation is similar in the rest of the continent as well as worldwide. According to World Bank, SMEs represent about 90 percent of businesses and more than 50 percent of employment worldwide. Formal SMEs contribute up to 40 percent of national income (GDP) in emerging economies. These numbers are significantly higher when informal SMEs are included.  

 SMEs are less likely

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Equity Bank

Equity bank joins top financial institutions to promote SME finance

Banking

Equity bank has become the newest member of the Small and Medium Enterprise (SME) finance forum.

The SME finance forum is a global membership network that brings together technology companies development finance institutions and financial institutions to share knowledge and promote the growth of SME.

Matthew Gamser, CEO of the Forum said, “200 million businesses worldwide need financing to invest, grow and create new jobs”.

He further said that they were proud to have Equity Bank join their network of more than 150 members who work to expand access to finance for small and medium businesses

Mary Wamae, Executive Director of Equity Group said, “Our vision is to be the champion of the socio-economic prosperity of the people of Africa. We value integrity, innovation, and respect for our clients,”

Mary Wamae further said,” becoming a part of the SME Finance Forum touches on each of these values as we learn …