Equity Group spent Sh101.8 billion in social impact programmes in 2023, according to its 2023 sustainability report.

This represents a Sh29.6 billion jump from Sh72.7 billion spent in 2022.

According to the lender, the move emphasizes the group’s dedication to sustainability across various sectors, including environmental conservation, education, and health.

Its CEO James Mwangi highlighted the bank’s shift from a twin-engine to a tri-engine business model, focusing on economic, social, and environmental goals.

This approach aligns with the Group’s broader vision of driving sustainable growth in Africa, underscoring the importance of natural capital in the continent’s economy.

“We have not only applied our efforts to realizing social impact, but also have a strong focus on environmental and nature stewardship, promoted through an intentional approach to addressing our own footprint and imparting knowledge to de-risk and empower our broader ecosystem,” he said.

He disclosed that the lender planted over 25.2 million trees, distributed 420,243 clean energy products, and provided Sh24 billion in climate finance in 2023 as part of its sustainability agenda.

The bank also expanded its educational programs, providing scholarships to over 60,000 students and supporting 23,825 university scholars through its Equity Leaders Program.

The report also highlighted Equity’s impact on financial inclusion, with the Group facilitating over Sh240.7 billion in mobile and internet banking transactions.

Likewise, the group’s social protection programs have reached 5.4 million individuals, providing much-needed support to vulnerable populations across its seven markets.