By “A Sustainable World is a Transformed Africa” Equity Group
Driving Africa’s Transformation Through Sustainability
Equity Group has unveiled its fourth annual Sustainability Report for 2024, themed “A Sustainable World is a Transformed Africa.”
The report highlights how sustainability continues to define the Group’s purpose and drive Africa’s transformation through its tri-engine model focusing on social, economic, and environmental pillars.
This approach has helped Equity expand climate finance, strengthen socio-economic resilience, and integrate nature-related risk management into its business strategy.
Empowering Communities Through Social Protection
Under the Social Protection pillar, the Group expanded support to refugees and marginalized populations.
Through cash transfers, affordable credit, and financial literacy programs, Equity reached over 447,000 vulnerable households, disbursing Kshs 25.8 billion (USD 199.7 million) in cash transfers and Kshs 4 billion (USD 31 million) in credit to build resilience and inclusion.
Equity Bank Kenya also launched its first Sustainable Development Impact Disclosure (SDID) Report, developed in partnership with J.P. Morgan, to align finance with the Sustainable Development Goals and track measurable progress. Read the SDID Report here.
Leadership Reflections on Sustainability
Equity Group CEO Dr. James Mwangi reaffirmed that sustainability is the Group’s guiding principle.
“Sustainability shapes our investments, partnerships, and purpose. It ensures that growth and prosperity are inclusive and enduring. Through our tri-engine model, we empower refugees, smallholder farmers, and communities to access clean energy and financial opportunities,” he said.
Group Chairman Prof. Isaac Macharia added that sustainability has long been embedded in the Group’s governance and purpose.
“It’s not a new frontier for us, but the foundation of our purpose. True prosperity is shared prosperity,” he noted.
“A Sustainable World is a Transformed Africa” Equity Group
Global Endorsement of Equity’s Leadership
The report received praise from development partners.
H.E. Arnaud Suquet, French Ambassador to Kenya and Somalia, lauded Equity for demonstrating Africa’s ability to drive its own transformation.
“France is proud to work alongside Equity in strengthening SMEs, promoting climate-resilient agriculture, and fostering inclusive growth,” he said.
Dr. Stephen Jackson, UN Resident Coordinator in Kenya, also commended the Group.
“This report is a blueprint for how the private sector can serve both humanity and the planet.”
Recognition and Global Standing
Equity’s sustainability leadership has earned international recognition, ranking as the second strongest banking brand in the world and the most valuable brand in East and Central Africa, according to Brand Finance.
The Group also received Euromoney’s Best Bank for Corporate Social Responsibility in Africa and was acknowledged by the IFC for its world-leading climate finance contributions.
Pillars of Sustainability in 2024
Equity’s sustainability approach is anchored in three key areas:
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Environmental responsibility through energy efficiency, waste reduction, and water conservation.
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ESG and nature preservation by embedding biodiversity in financial decision-making.
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Collaborative growth through the Africa Recovery and Resilience Plan (ARRP), working with stakeholders to unlock Africa’s growth potential.
Investing in People and Inclusive Growth
In 2024, the Group invested Kshs 846.6 million (USD 6.6 million) in employee training and wellbeing. Over 12,000 employees received skills training in sustainability, ESG governance, and leadership.
Women represented 44 percent of the workforce and 35 percent of senior leadership roles, reinforcing Equity’s commitment to inclusion.
Education, Health, and Agriculture Impact
The Equity Group Foundation supported 38,000 Elimu Scholarship beneficiaries and facilitated 130 scholars’ admission to international universities.
In healthcare, Equity Afya expanded to 127 medical centres in Kenya and five in DRC, serving 3.3 million patients.
In agriculture, 245,000 farmers were trained in climate-smart farming and linked to markets. The Foundation also supported 20 irrigation schemes worth Kshs 502 million (USD 3.9 million) to enhance food security.
Driving Green Finance and Climate Resilience
Through its Energy, Climate, and Environment pillar, Equity distributed 44,732 clean energy products, reaching nearly 467,000 households and planting over 35 million trees.
The Group reduced total waste generation by 18 percent, tracked new waste streams, and strengthened recycling through a circular economy approach.
Technology and Innovation for the Future
Equity trained 300 individuals in emerging technologies, including data engineering, generative AI, and blockchain, bringing the total beneficiaries to 415.
The Foundation also developed 40 real-world business prototypes that support banking operations and drive innovation.
A Purpose-Driven Path Forward
Equity Group’s 2024 Sustainability Report reaffirms its leadership in sustainable finance, environmental stewardship, and inclusive growth.
The Group continues to demonstrate that Africa’s transformation is possible through purpose-driven, measurable impact, where every investment contributes to people, planet, and prosperity.
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