Equity has launched their Sustainability report themed “A Sustainable World is a Transformed Africa.” The 2024 Sustainability Report builds on Equity’s established foundation of socio-economic and environmental transformation.
The report highlights Equity’s proactive leadership in addressing Africa’s most pressing challenges, such as climate change, financial inclusion, and social protection. While at the same time scaling innovative solutions through its Tri-Engine Model.
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.”
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.
Waste
Equity aims to minimize overall waste generated and eliminate waste sent to landfills from all subsidiaries and subsequently branches across the region. In 2024, the Group tracked waste generated in Kenya identifying various waste streams including paper, metals, organic matter, plastics, medical waste, and e-waste. A total of 362 tons of waste was collected, which was lower than 441 tons that were generated in the year 2023, which represents an 18% reduction.
Paper waste accounted for 46% of the total waste generated, totaling 166.5 tons. In Kenya generated wastepaper continues to be recycled through support of a circularity approach with our suppliers. Some of the initiatives that were implemented to reduce waste generated include engaging of e-waste recyclers, recycling of paper, reduction in printing through digitisation and staff education on waste reduction during mandatory annual sustainability training.
ESG Risk Management
In 2024, Equity embedded Environmental, Social, and Governance (ESG), climate, and nature risk across the credit lifecycle by operationalizing Environmental and Social Risk in lending, strengthening disclosure controls, and upgrading data systems to support useful decision reporting.
Equity operationalized solar and water solutions lending; system flagging enabled for monitoring/reporting green transactions, rolled out the GHG digital tool with dashboards; and updated the Environmental and Social management system (ESMS) to include nature-risk and ESG rating embedded in credit appraisal and portfolio oversight.
People
Equity Group places strong emphasis on the social pillar of its sustainability strategy, recognising that its people are its most valuable asset. In 2024, the Group strengthened its commitment to fostering a purpose-driven and inclusive workplace. This included significant investments in training, diversity, and employee wellbeing.
The Group invested Kshs 846.6 million (USD 6.6 million) in training, equipping 12,081 employees with skills in diverse areas including sustainability, ESG governance, and leadership development. Employee wellness programs were expanded to include physical fitness sessions, mental health support, and financial literacy training, reflecting the Group’s holistic approach to employee wellbeing.
Workforce diversity remained a priority, with women comprising 44% of employees and holding 35% of senior leadership roles.
Education and Leadership Development
The Equity Group Foundation remains deeply committed to empowering communities and shaping future leaders by expanding access to quality education. By 2024, the Elimu Scholarship Program had supported 38,000 beneficiaries, achieving an impressive 95% KCSE completion rate.
The Equity Leaders Program (ELP) continued to provide life-changing opportunities, with 130 scholars securing admission to international universities, including 13 at Ivy League institutions. Additionally, 181 university graduates were placed in job opportunities within Equity, its ecosystem, or beyond, furthering the circularity of our social impact. To further empower communities, the Foundation trained 2,150 teachers to lead mentorship initiatives and engaged 3,000 community members in transformative training sessions.
Health
The Equity Group Foundation continues to transform healthcare access through its flagship Health program. In 2024, Equity Afya had expanded its network to 127 outpatient medical centres in Kenya and established 5 clinics in the DRC.
This expansion has enabled the program to serve cumulative 3.3 million patients across 1.2 million networks, reflecting our commitment to delivering affordable, high-quality, and standardized health services, especially in underserved and rural communities.
Food and Agriculture
The Equity Group Foundation continues to lead transformative efforts in the agriculture sector by empowering small and medium-sized farmers to enhance their production capabilities, business skills, and access to technology and financial services, while addressing climate smart farming needs.
Under its Food and Agriculture pillar, the Foundation trained 245,675 farmers who received training across various value chains, with 22,458 specializing in cereals, a vital crop for food security. 7,426 Micro-Small and Medium Agriculture Enterprises (MSMAEs) were trained to boost productivity and promote sustainable farming practices.
The Foundation also geo-mapped 178,138 farms, enabling data-driven agricultural planning and decision-making. To further support farmers, 183,463 individuals were linked to agricultural markets and post-harvest loss solutions. While 7 million tips on financial literacy and Good Agricultural Practices (GAP) were shared with 175,207 farmers, equipping them with the knowledge to improve efficiency and profitability.
Reinforcing its commitment to sustainable farming, the Foundation disbursed Kshs 502 million (USD 3.9 million) to 20 irrigation schemes enhancing water access and building resilience in agricultural communities.
Enterprise Development and Financial Inclusion
The Equity Group Foundation remains committed to driving economic growth and job creation by empowering Micro, Small, and Medium Enterprises (MSMEs) with the skills, knowledge, and resources needed to succeed. In 2024, the Foundation trained 116,812 MSMEs, equipping them with enhanced entrepreneurial skills to improve their business operations and sustainability.
Additionally, 95,700 MSMEs benefited from mentorship programs, fostering growth and resilience in their enterprises. The Foundation also prioritized financial inclusion, with 26,903 individuals gaining access to essential financial services and resources.
Energy, Climate Change, and Environment
The Equity Group Foundation continues to champion environmental sustainability, nature preservation and climate resilience through its Energy, Environment, and Climate Change pillar. In 2024, the Foundation distributed 44,732 clean energy products, contributing to a greener and more sustainable future.
These efforts represented a total value of USD 28.5 million, showcasing the Foundation’s commitment to driving impactful change. Through these initiatives, the Foundation reached over 466,975 households, enabling access to renewable energy solutions that improve livelihoods, reduce reliance on traditional fuels, and mitigate environmental degradation. To restore nature and biodiversity, and mitigate climate change, the Foundation continued with its tree-growing initiative to a total of 35 million trees.
Social Protection
The Equity Group Foundation continued to uplift vulnerable households, refugees and host communities through its Social Protection initiatives in 2024. The Inua Jamii program was scaled up to reach 447,355 individuals, transferring a total of Kshs 25.8 billion (USD 199.7 million) in cash to needy households.
Additionally, the Foundation disbursed Kshs 4 billion (USD 31 million) in affordable credit to support vulnerable families, ensuring access to essential financial resources and fostering resilience in underserved communities.
Innovation and Technology
In 2024, Equity Group Foundation advanced its commitment to innovation and technology by upskilling 300 individuals, including staff beneficiaries of the Education pillar, through a six-month training program in data engineering, generative AI, and blockchain.
This initiative brought the total number of trained individuals to 415, equipping them with cutting-edge skills for the digital economy. Furthermore, the Foundation spearheaded the development of 40 real working business prototypes, addressing critical infrastructure gaps in banking operations and driving technological transformation across the Group.