Equity to finance SMEs in the health sector

Equity has announced that it will work with its customers to expand their opportunities in the health sector by financing them to manufacture health requirements such as face masks and Personal Protective Equipment (PPEs) locally while helping to create regional supply Chains.

It will also support food and agriculture to enhance production, processing, distribution and export.  The group will support innovation in ICT and other initiatives to digitize the economy.

The initiative is meant to create new growth and employment opportunities amidst the COVID-19 pandemic with is the new normal.

Dr. James Mwangi, the Group CEO said “Equity Group will play to its capital strength, balance sheet agility and liquidity to support a long-term view and walk with our customers throughout the crisis.  We want to give every client a chance to turn the crisis into an opportunity to thrive.”

He also appealed to customers to exercise caution in their decisions in order to preserve their business capital during this period of uncertainty, saying that businesses will have to take hard but critical decisions in order to sail through the crisis. In addition, he challenged the entrepreneurs to be innovative in looking for the opportunities that the crisis presents to re-imagine their business models and operating strategies especially adoption of digital technologies.

“We have been persuaded to think anew and act anew and hope that our initiative will provide stability, a steady hand and hope for our clients and customers for the road ahead and dial their fear down so that together we can save jobs, survive, preserve agility, flexibility and capacity to bounce back not only to survive and recover but to recover and succeed”.

In addition, Dr. Mwangi said that in addition to working with its customers, the Group has forged alliances with Kenya Association of Manufactures (KAM), Kenya National Chamber of Commerce and Industries (KNCCI) as well as the Kenya Micro and Small Enterprises Authority (MSEA).

The alliance, with support of Mastercard Foundation is aimed at synergizing and working together to mitigate the adverse effects of the current economic slowdown through capacity and resilience building to preserve and create five million jobs.

To protect their customers and clients, Equity Group has invested massively to support contactless environment and working from home.  “Equity’s Points of Sale are now Near Field enabled (NFC) and are tap and go.  Equity USSD Eazzy 247 channel has been revamped for ease of use while Equity Eazzy App has been revamped for better experience.  Eazzy net, Eazzy Bizz and Eazzy Forex have been reviewed to ease customer’s journeys to enable Equity banking experience to be “what you do” other than “where you go”.

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