Equity Bank Emerges Best In Financial Services

Equity emerged as the overall winner in the financial services category during the 2021 Avocado Industry Excellence Awards. The bank was recognized for its continued support, inclusive modern financial services, and solutions to avocado value chain actors.

While receiving the award, Equity General Manager for Food and Agriculture, George Macharia reiterated the bank’s commitment to supporting all stakeholders in the avocado industry through a range of innovative and well-tailored financial products and services to serve the needs of the value chain actors.

“Kenya is a significant producer and exporter of avocados and is currently Africa’s largest producer of avocados. We support farmers who are in avocado farming and also support the value addition and processing of avocados. We offer comprehensive financial services such as short-term bridging working capital during the peak harvesting season,” he stated.

Chief Executive Officer of the Avocado Society of Kenya, Ernest Muthomi said the avocado value chain supports livelihoods and has been a major contributor to income from the horticulture earnings. In 2021, Kenya’s exports of avocados generated Ksh14.6 billion for the country.

“An estimated 70% of Kenyan avocados even those for export are produced on smallholder farms. Murang’a is the leading county in avocado production, followed by Kiambu, Nakuru, Kisii, Nyamira, Meru, and Bomet counties. Nyeri, Laikipia, Elgeyo Marakwet, and Uasin Gishu are also emerging in this sector.

Equity has been offering modern financial services and solutions to avocado value chain actors to these farmers hence the reason they scooped the award,” he stated while handing over the award.