Equity Group’s 2023 sustainability report reveals a substantial increase in social impact expenditure, totaling Sh101.8 billion, a notable rise from Sh72.7 billion in 2022. This impressive investment underscores the group’s commitment to driving sustainability across key sectors such as environmental conservation, education, and health.
The report highlights Equity’s strategic shift to a tri-engine business model, emphasizing economic, social, and environmental objectives. CEO James Mwangi articulated this approach as central to the group’s vision for sustainable growth in Africa, reflecting the critical role of natural capital in the continent’s economic development.
In 2023, Equity Group’s sustainability efforts included planting over 25.2 million trees, distributing 420,243 clean energy products, and allocating Sh24 billion towards climate finance. These initiatives demonstrate the group’s proactive stance on environmental stewardship and reducing its ecological footprint.
The bank also made significant strides in education, awarding scholarships to over 60,000 students and supporting 23,825 university scholars through its Equity Leaders Program. This investment in education aims to empower the next generation and foster long-term socio-economic growth.
Equity Group’s focus on financial inclusion is evident through facilitating over Sh240.7 billion in mobile and internet banking transactions. Additionally, the group’s social protection programs have reached 5.4 million individuals, offering essential support to vulnerable populations across its seven markets.
Overall, Equity Group’s 2023 achievements reflect a robust dedication to enhancing social impact and advancing sustainability across Africa, aligning with its broader goal of driving comprehensive and inclusive growth.
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