Kenya’s Equity Bank has been honored as the best bank for small and medium enterprises (SMEs) in the country for the second consecutive year. This recognition was part of the prestigious 2024 Euromoney Awards held in London, which also celebrated the bank’s remarkable achievements in corporate responsibility both within Kenya and across the African continent.
Equity Bank, a regional leader in the financial sector, secured a total of four accolades at the 2024 Euromoney Awards. The bank’s commitment to transforming lives through its comprehensive social impact programs has been a central factor in these achievements. The awards highlighted Equity’s significant contributions to financial inclusion, particularly in the realms of education, healthcare, environmental sustainability, and social protection through its Equity Group Foundation (EGF).
James Mwangi, the Managing Director and CEO of Equity Group, expressed profound gratitude for the awards, emphasizing their importance as validation of the bank’s mission. “We are deeply honored to receive these prestigious awards, which serve as a validation of our unwavering commitment to social impact investment,” Mwangi said. He further elaborated that the awards reflect the collective efforts of the bank’s dedicated team and the trust of its customers and partners. The accolades inspire Equity Bank to continue striving for a more inclusive and sustainable future.
One of the highlights of Equity Bank’s achievement is its recognition as the Best Bank for Corporate Responsibility in Africa. This accolade underscores the profound impact of the bank’s Social Impact Investment programs across the continent. Equity’s commitment to corporate responsibility is demonstrated through a variety of initiatives that have significantly improved the lives of millions.
The bank’s Equity Group Foundation (EGF) has played a pivotal role in advancing financial education and support. Through its programs, EGF has provided financial education to 2.47 million women and youth, supporting 570,006 micro, small, and medium enterprises (MSMEs) with essential financial training. Additionally, the ‘Young Africa Works Program’ has facilitated financing for 305,771 MSMEs, empowering entrepreneurs across the continent.
In the agricultural sector, EGF has made a considerable impact by reaching 3.8 million farmers and supporting 320,626 small and medium-sized farmers. These efforts have been instrumental in enhancing agricultural productivity and sustainability.
Equity’s educational initiatives have also been groundbreaking. The ‘Wings to Fly’ and ‘Elimu Scholarships’ programs have provided scholarships to 60,009 secondary school students. Furthermore, the Equity Leadership Program has enrolled over 23,825 university scholars, including 980 global university scholars. Notably, 218 of these scholars have gained admission to Ivy League institutions, and 3,577 have pursued technical and vocational education and training (TVET).
The foundation’s social protection programs have reached 5.6 million individuals, providing critical support to those in need. In the healthcare sector, the Equity Afya program has expanded its network of outpatient medical centers to 118 locations in Kenya and five in the Democratic Republic of Congo (DRC). This expansion has enabled the program to serve over 110,000 clients each month.
Equity Bank’s initiatives in energy, environment, and climate change also reflect its commitment to sustainable development. Through these programs, the bank continues to address pressing environmental challenges and promote sustainable practices.
In conclusion, Equity Bank’s recognition at the 2024 Euromoney Awards is a testament to its leadership in promoting social impact and financial inclusion. The bank’s continued dedication to improving lives and fostering sustainable development sets a high standard for corporate responsibility and serves as an inspiration for others in the financial sector. As Equity Bank celebrates these achievements, it remains steadfast in its mission to drive positive change and create a more inclusive and prosperous future for all.
