Home Business Equity Group to invest 2pc of earnings in sustainable projects

Equity Group to invest 2pc of earnings in sustainable projects

Equity Group targets to invest at least 2pc of its revenue in sustainable projects in seven markets it currently operates in.

According to the lender, loans to Micro, Small and Medium Enterprises (MSME) under the Young Africa Works Program totaled  Ksh 223.1 billion disbursed to 246,701 businesses which in turn helped encourage entrepreneurship and create 1.2 million jobs.

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Additionally, the lender disbursed loans totaling Ksh 73.3 billion to support 3.98 million farmers and MSMEs in food and agriculture.

Speaking during the launch of Equity Group 2022 Sustainability Report, Chief Executive Officer Dr James Mwangi said the bank is investing heavily in sustainable projects and called for more collaborations in enhancing food security, healthcare services, and education.

The report highlights pay parity across the organization, where it indicates men are still getting paid more than women doing the same job in Kenya and Tanzania at 52pc as compared to DRC, South Sudan, Rwanda And Uganda an issue that is closely been monitored to ensure pay parity continues to improve across the group.

The report indicates that Equity Group planted 21.8 million trees by the end of 2022 and trained farmers on climate-smart agriculture.

Speakers urged financial institutions to consider collaboration with counties in the financing locally-led climate action program.

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