This archive report was first published on 13 October 2019.
At the 2019 Nairobi International Trade Fair, held at the Jamhuri ASK Showground, Equity Bank was recognized as the Best Bank Stand, a testament to its innovative approach to financial solutions in the agribusiness sector.
Under the theme 'Promoting Innovation and Technology in Agriculture and Trade', Equity Bank also ranked second in the Youth Support and Capacity Building Initiative and took the top spot in Mobile and Data Services.
During the week-long event, which coincided with Equity's rebranding, the bank emphasized the importance of educating customers on Agriculture Insurance, including Bima ya Mifugo, Dog and Pets Insurance, Green House Insurance, and Crop Insurance.
Through these initiatives, many farmers have been able to protect their farming activities from natural disasters, transforming from peasant farmers to agribusinesses. Over 638,000 farmers have benefited from this transformation.
Equity's innovative insurance products, such as Bima ya Mifugo, provide protection against loss arising from death of specified livestock due to unavoidable or uncontrolled circumstances. The bank has also introduced crop insurance based on Index Based Weather Insurance (IBWI) and Multi-peril crop insurance.
Equity has been contributing to the UN Sustainable Development Goals (SDG2) Zero Hunger policy through its Value Chain Agriculture Financing Model. The bank has disbursed USD 521 million to 849,148 farmers through its Kilimo Biashara loan product as of December 31, 2018.
