• Equity, through its products and services, has continued to empower small and medium sized businesses and has transformed them into instruments of driving value across the society.
• COVID-19 has challenged the normal operations for many SMEs in Kenya and across Africa Equity Bank has won the 2020 SME Bank of the year – Africa Award at the Global SME Finance Awards virtual Gala, for the third consecutive year.
In a statement released on Monday, Equity said the win in the Gold category, is a testament to Equity’s long-standing and consistent commitment towards supporting medium and small scale businesses across the region.
This is as an avenue towards transforming livelihoods, creating wealth and fostering economic prosperity.
Speaking on receiving the award, Equity Group MD and CEO James Mwangi noted that the accolade reinforced the Group’s commitment and purpose of, transforming lives, giving dignity and expanding opportunities for wealth creation.
“Equity, through its products and services, has continued to empower small and medium sized businesses and has transformed them into instruments of driving value across the society.
"COVID-19 has challenged the normal operations for many SMEs in Kenya and across Africa," Mwangi said.
He added that as a leading financial institution, the bank was mainly committed to training SMEs, availing opportunities for growth and helping them recover becausetogether, we can build a resilient economy and a greater world.
Matthew Gamser, CEO of the SME Finance Forum said the awards provide the winners an opportunity to showcase good practices on the global stage and to foster learning amongst their peers.
“We hope the winners of the Global SME Finance Awards will inspire SME financiers all over the world to learn from their good practices,” Gamser said.
By the end year of 2019, SME banking portfolio contributed to 62% of Equity’s loan book.The lender has managed to cut a niche across the SME financing sector in Kenya and across the region, through among other factors; innovation.Equity was recognized for its ingenuity in tailor-making solutions through its offering for the diverse SME groups across its portfolio.The bank’s digitization and innovation strategy has increased SMEs access to digital credit and disbursement through innovations such as EazzyBiz, EazzyFx, Eazzy Banking App and Equitel.Further, Equity has continued to support SMEs by equipping them with relevant skills through training and mentorship programs.“We recognize that this award would not have come if it was not for our partners who responded to our call of championing the social-economic […]