Equity Group has released its 2022 Sustainability Report with the theme “Growing Together in Trust.” The report positions Equity Group as a prominent driver and leader in sustainability, showcasing the organization’s strong commitment to socioeconomic and environmental transformation across Africa. In the report, Equity’s unyielding commitment to sustainable business practices takes centre stage, highlighting the company’s effective integration of environmental, social, and governance aspirations into its daily operations.
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The group prides itself on adopting the “shared prosperity” business model, exemplified by its substantial investment of Kes 72.7 billion in social impact projects during FY’2022. These projects focus on critical areas such as healthcare, energy, environment, food and agriculture, enterprise development, financial inclusion, education, and social protection. The business model’s primary aim is to make a positive contribution to society and the environment while prioritizing the welfare of their communities.
During the launch of the bank’s 2022 Sustainability Report, James Mwangi, the Group’s Managing Director, emphasized the core principle of prioritizing community welfare as a significant factor contributing to their outstanding performance. “Equity understands that its host communities grant them a license beyond regulatory permits, and thus, they continue to treat these communities as vital stakeholders. The bank has made substantial investments in their well-being through the shared prosperity program.” He added.
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In the period under review, Equity Group expanded its Equity Afia health franchise to 77 medical centres from the 41 recorded the previous year, successfully serving 1.3 million patients. This surpassed their initial target of 600,000 patient visits by the end of the year. Moreover, the Group demonstrated remarkable progress in its Wings to Fly Scholarship Programme, providing scholarships to over 17,000 scholars, with 893 benefiting from Global Scholarships, while others attended Kenyan public universities and TVETs.
Furthermore, Equity Group is actively engaged in environmental conservation efforts, including the tree-planting initiative launched in 2019, with a goal to plant 35 million trees by 2024. This initiative supports the national government’s plan to maintain the country’s forest cover at 10 percent. As of now, 21.8 million trees have already been planted. The Group’s foundation also encourages conservation measures in schools, promoting the smart use of natural resources expanding forest cover, enhancing water security, and advocating for clean and renewable energy technologies. Overall, Equity Group’s 2022 Sustainability Report reflects their commitment to sustainable practices and their determination to create a positive impact on African societies and the environment.
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