Equity Group Holdings PLC has reaffirmed its commitment to transforming Africa through sustainability-driven financial practices, according to its 2024 sustainability report themed, “Transforming Africa for True Sustainability.”
“True sustainability must be owned by all—by communities, enterprises, nations, and Africa itself—for prosperity to be realized,” said Dr. James Mwangi, Equity Group Managing Director. “The world cannot achieve true sustainability without Africa being transformed economically, socially, environmentally, and institutionally.”
The Group has redefined the future of banking in Africa through its innovative Tri-Engine Business Model, comprising commercial, social, and sustainability engines, designed to integrate commercial success with social impact and environmental responsibility.
The commercial engine has driven productivity and enterprise growth, providing loans and insurance to micro, small, and medium enterprises (MSMEs) as well as manufacturing clients.
Under the social engine, Equity Group deepened sustainability integration across its operations by investing in education, health, enterprise, and agriculture. In 2024 alone, the Equity Group Foundation supported over 38,000 scholars, trained more than 72,000 farmers, and expanded the Equity Afya network to 132 medical clinics, serving 3.3 million patients.
Additionally, the Foundation disbursed Ksh 25.8 billion in cash transfers and extended Ksh 4 billion in affordable credit to over 447,000 vulnerable households. These initiatives, under the social protection pillar, aim to protect lives and livelihoods while empowering beneficiaries to transition from dependency to self-reliance through access to credit and financial literacy.
The sustainability engine focuses on embedding environmental, social, and governance (ESG) principles into the Group’s operations, risk management, and community investments. According to the report, this engine “mobilizes sustainable solutions and interventions to transform communities and businesses while ensuring sound management of environmental and social risks.”
Equity Group aligns its sustainability efforts with global frameworks, including the UN Sustainable Development Goals (SDGs) and the Paris Agreement on climate change.
The Group has voluntarily adopted the Taskforce on Nature-related Financial Disclosures (TNFD) and partially aligned its reporting with the International Sustainability Standards Board (ISSB) standards.
Equity Bank Kenya also launched Africa’s first Sustainable Development Impact Disclosure (SDID) Report, designed to showcase measurable outcomes from lending and investment decisions. The SDID aligns with international standards such as the SDGs, ISSB, and TNFD, shifting focus from activity reporting to tangible impact.
Dr. Mwangi affirmed that Equity Group Holdings PLC remains committed to inclusive growth, environmental stewardship, and responsible finance across Africa, guided by its Tri-Engine Model and the Africa Recovery and Resilience Plan (ARRP).
– Timon Otieno
