This archive report was first published on 4 November 2021.
Equity Group Expands Across Africa ¶
Friday, November 05, 2021
Equity Group has set aside Sh500 billion to finance businesses seeking to trade or invest in Africa as part of a move to expand its business and grow across the continent.
Equity Group chief executive James Mwangi spoke to the Business Daily on the expansion plan and bilateral agreements.
According to Mwangi, the bank is targeting sectors prioritized by the government, including food security, agro-processing, manufacturing, low-cost housing, and health.
The bank aims to leverage on these sectors to bounce back from the Covid-19 shock and promote business in Africa as a whole.
Equity Group has already made significant inroads in the region, with a presence in several countries including Kenya, Rwanda, Uganda, and the Democratic Republic of Congo.
The bank's expansion plan is part of a broader strategy to promote trade and investment between Kenya and South Africa.
As part of this plan, Equity Group is working with the government to facilitate the importation of capital goods and the export of Kenyan products to South Africa.
Equity Group is also exploring opportunities to partner with South African companies to promote business in Africa.
According to Mwangi, the bank is open to partnering with companies from other countries, including the United States, to promote business in Africa.
Equity Group's expansion plan is expected to create new opportunities for businesses in the region and promote economic growth across Africa.
With a presence in several countries and a strong track record of innovation, Equity Group is well-positioned to drive growth and development across the continent.
