Kenya's Equity Bank has been ranked as the best bank for small and medium enterprises (SMEs) in the country for the second year in a row in the 2024 Euro Money Awards.
The regional lender also emerged as the best for corporate responsibility both in Kenya and across the continent for the second consecutive year during the prestigious 2024 held in London, United Kingdom.
The bank secured a total of four accolades, including the overall best bank in Kenya second year in a row in the awards, which recognized the credit institution's contribution to financial inclusion, particularly in education, healthcare, environmental sustainability, and social pprotection, through the Equity Group Foundation (EGF).
According to Euromoney, Equity's recognition as the Best Bank for Corporate Responsibility in Africa underscores the profound impact of its Social Impact Investment programs across the continent.
"We are deeply honored to receive these prestigious awards, which serve as a validation of our unwavering commitment to social impact investment. Our twin-engine business model summarizes our belief in the power of shared prosperity and the transformative potential of investing in our communities," said James Mwangi, Equity Group Managing Director and CEO.
He added, "These achievements mirror the collective efforts of our dedicated team, and the trust and support of our customers and partners. These awards inspire us to continue our journey towards creating a more inclusive and sustainable future for all."
Through its shared prosperity business model, EGF has made substantial strides, including providing financial education to 2.47 million women and youth, supporting 570,006 MSMEs with financial training, and financing 305,771 MSMEs through the 'Young Africa Works Program'.
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EGF's initiatives in the food and agricultural sector have also impacted 3.8 million farmers and reached 320,626 small and medium-sized farmers.
The foundation's Education and Leadership programs, 'Wings to Fly' and 'Elimu Scholarships', have further provided scholarships to 60,009 secondary school students, where the Equity Leadership Program has enrolled over 23,825 university scholars, including 980 global university scholars, with 218 gaining admission to Ivy League institutions and 3,577 TVET scholars.
Under social protection, 5.6 million individuals have been reached with social protection programs.
In the health sector, the bank's Equity Afya program expanded its network of outpatient medical centres to 118 in Kenya and five in the DRC, attending to over 110,000 clients every month and under the foundation's initiatives in energy, environment, and climate change.
