Equity Group Champions Africa’s Transformation with 2024 Sustainability Report: A Sustainable World is a Transformed Africa

Equity Group unveiled its fourth annual sustainability report for the year 2024, themed “A Sustainable World is a Transformed Africa.” The theme points to the significant role that global sustainability practices play in driving Africa’s transformation, a mission that Equity Group has committed to pioneering.

The 2024 Sustainability Report builds on Equity’s established foundation of socio-economic and environmental transformation by demonstrating measurable progress, expanded impact, and deeper integration of sustainability into its governance, operations, and partnerships. It highlights Equity’s proactive leadership in addressing Africa’s most pressing challenges, such as climate change, financial inclusion, and social protection, while scaling innovative solutions through its Tri-Engine Model.

A key highlight of the report is Equity Group’s expanded and impactful efforts through its social impact arm, the Equity Group Foundation, under its Social Protection pillar, particularly in addressing the needs of refugees, host communities, and vulnerable populations. Through strategic partnerships, financial assistance, capacity-building, de-risking investments, and environmental conservation initiatives, Equity has empowered marginalized populations to achieve resilience, self-reliance, economic stability, and environmental integrity, reinforcing its role as a catalyst for inclusive growth, social and environmental transformation across Africa.

Commenting on the central role sustainability plays in the Group’s strategy during the unveiling of the report, Equity Group Managing Director and CEO, Dr. James Mwangi, stated that, “Sustainability is not just a goal for Equity Group; it is the guiding principle that defines how we do business. It shapes our investments, our partnerships, and our purpose to ensure that growth and prosperity are inclusive and enduring. By embedding sustainability into every aspect of our operations, we are not only future-proofing our business but also empowering people and protecting the planet. Our Tri-Engine Model allows us to translate this purpose into measurable impact, enabling refugees to rebuild their lives, smallholder farmers to increase productivity, and communities to access clean energy and financial opportunities. We are demonstrating that a sustainable world is indeed a transformed Africa.”

In his statement, Equity Group Chairman, Prof. Isaac Macharia, noted that sustainability has long been woven into the Group’s governance and purpose, guiding how the institution creates long-term value for its stakeholders. “Sustainability is part of who we are. It’s not a new frontier for Equity Group, but the foundation of our purpose. We have always believed that true prosperity is shared prosperity. In a world facing complex challenges, we are strengthening our governance, investing in people and systems, and ensuring that sustainability remains at the heart of our business model. Our tri-engine approach positions us to deliver long-term value for our stakeholders while driving Africa’s transformation through resilience, innovation, and shared prosperity,” he said.

Speaking at the event, H.E. Arnaud Suquet, the French Ambassador to Kenya and Somalia, commended Equity Group for its unwavering commitment to advancing sustainability, noting that Africa must be an actor of change rather than a passive victim of decisions made elsewhere.

“Equity Group’s continued leadership in embedding sustainability into its business model demonstrates that Africa has both the vision and capacity to drive its own transformation. France is proud to be a long-term partner in this journey, working alongside Equity to strengthen SMEs, promote climate-resilient agriculture, and foster inclusive growth. Together, we are proving that sustainable development is not only possible but essential for a prosperous and resilient Africa,” he said.

Dr. Stephen Jackson, UN Resident Coordinator in Kenya, congratulated Equity Group for setting a strong example of responsible business leadership.

“I am delighted to join Equity in celebrating what it truly means to define business responsibility in the arena of sustainability. This report stands as a blueprint for how the private sector, particularly financial institutions, can serve both humanity and the planet. At the UN in Kenya, we are proud to count Equity among our closest and most trusted partners in the private sector: a partner that not only understands and values the Sustainable Development Goals but also recognizes that they are not just moral imperatives, they are sound business opportunities and part of a resilient, forward-looking strategy for Africa’s future,” he remarked.

The report recognizes Equity’s global recognition for its sustainability leadership, including its ranking as the Second Strongest Banking Brand in the World and the Most Valuable Brand in East and Central Africa by Brand Finance. Equity also maintained its momentum in advancing climate-related transactions, building on the previous year’s recognition by the International Finance Corporation (IFC) for its first-ranked in the world contributions to climate finance, both in climate mitigation and adaptation practices. Additionally, Equity earned accolades such as Euromoney’s Best Bank for Corporate Social Responsibility in Africa, further solidifying its reputation as a purpose-driven institution.

Equity Group’s sustainability approach in 2024 is built on three interconnected pillars that drive its commitment to creating a sustainable and inclusive future. First, the Group prioritizes environmentally friendly operations by focusing on energy and resource efficiency, waste reduction, and water conservation across its offices and branches. These efforts reflect Equity’s dedication to minimizing its environmental footprint while promoting responsible business practices. Second, Equity has deepened its commitment to Environmental, Social, and Governance (ESG) excellence, with a special focus on nature preservation. This includes offering sustainable finance and investment products that align with global best practices. Similarly, the Group remains steadfast in its dedication to financial inclusion, ethical operations, and fostering a responsible and supportive workplace for its employees. Third, Equity recognizes that sustainability cannot be achieved in isolation. The Group has strengthened its collaborative efforts under the Africa Recovery and Resilience Plan (ARRP), working closely with diverse stakeholders to drive long-term socio-economic transformation across the continent. Through these partnerships, Equity is catalyzing collective action to address Africa’s most pressing challenges and unlock its vast potential for growth and resilience.

The 2024 Sustainability Report unpacks how Equity is delivering measurable impact within its business operations across the seven markets it operates in: Kenya, Uganda, Tanzania, South Sudan, Rwanda, DRC, and Ethiopia, where it maintains a representative office. It further highlights Equity’s expanded efforts to drive environmental and nature stewardship, socio-economic transformation, and financial inclusion, showcasing its commitment to creating shared prosperity and resilience across the continent.

Alongside the launch of the 2024 Sustainability Report, Equity Bank Kenya Limited also unveiled its first Sustainable Development Impact Disclosure (SDID) Report, marking a significant step in advancing transparency and accountability in sustainable finance. The SDID Report, in partnership with global financial institution J.P. Morgan, provides a detailed view of the Bank’s measurable contributions to the Sustainable Development Goals (SDGs), showcasing how capital is being deployed to deliver tangible socio-economic and environmental outcomes.

Commenting on the milestone, Dr. James Mwangi, Equity Group Managing Director and CEO, said:

“This milestone reinforces our leadership in transparent, impact-based reporting, anchoring finance in accountability, purpose, and strengthened governance. Through the SDID Report, we are going beyond traditional financial disclosure to demonstrate how every shilling invested creates value for people, communities, and the planet. This is the future of finance, one that measures success not only in profit, but in progress.”

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