1 November 2011

Kenya: Avocado Factor - Equity to Finance Western Kenya Factory

EQUITY Bank has said it will support the establishment of an avocado processing factory in Western province.

The factory is the second phase of a joint investment initiative by the bank and the Western Province Investment Conference started two years ago in Kakamega.

"The bank is ready and willing to give a loan to local investors to establish an avocado processing factory as a follow up for the avocado seedlings we gave two years ago," said bank CEO James Mwangi.

The bank sponsored 1,000 farmers in every constituency with avocado seedlings in 2009 during the Western Investment Conference at Masinde Muliro University.

Mwangi spoke during the graduation ceremony of 3,000 Equity Bank account holders under the Financial Knowledge for Africa (FiKA) programme at Kakamega's Golf Hotel yesterday. Deputy Prime Minister Musalia Mudavadi was chief guest.

The graduands trained in budgeting, savings, debt management, financial negotiations and how to manage banking services skills.

Mwangi said the bank will have trained one million people by 2013. So far, 140,000 have been been trained.

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