Equity Group Allocated Sh101.8 billion to Community Impact in 2023

Equity Group allocated Sh101.8 billion to community impact initiatives in 2023, as detailed in its 2023 sustainability report.

The amount is an increase from the funds the institution allocated in 2022 (72.7 billion).

As per Equity Group, this action highlights the Group’s commitment to sustainability across multiple sectors, such as environmental preservation, education, and healthcare.

Its CEO, James Mwangi, emphasized the bank’s transition from a dual-engine to a triple-engine business model, targeting economic, social, and environmental objectives.

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This strategy aligns with the Equity Group’s larger goal of fostering sustainable development in Africa, highlighting the significance of natural resources in the continent’s economy.

“We have not only applied our efforts to realizing social impact, but also have a strong focus on environmental and nature stewardship, promoted through an intentional approach to addressing our own footprint and imparting knowledge to de-risk and empower our broader ecosystem,” he said.

He revealed that Equity Group planted over 25.2 million trees, distributed 420,243 clean energy products, and provided Sh24 billion in climate finance in 2023 as part of its sustainability mission.

Equity Group also enhanced its educational initiatives, offering scholarships to over 60,000 students and aiding 23,825 university scholars through its Equity Leaders Program.

The report also showcased Equity’s influence on financial accessibility, with the Group facilitating over Sh240.7 billion in mobile and online banking transactions.

Similarly, the Group’s social welfare programs have benefited 5.4 million individuals, delivering crucial assistance to vulnerable groups across its seven regions.