The Equity Group has contributed approximately Ksh.700 billion in stimulus funds to aid the African continent's recovery from the Covid-19 outbreak and the Russia-Ukraine war.
Dr James Mwangi, Managing Director and CEO of Equity Group, discussed the Africa Recovery and Resilience Plan on a TV show talk.
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Dr. Mwangi stated that the Plan aims to unite all essential parties, including United Nations organizations, governments from several African countries, and the corporate sector.
“We said let’s have a coherent plan for transforming Africa where we can collaborate and cooperate, each doing their best, bringing their capability and competitive strength to the table. And together with all our hearts on the deck, then we may move Africa,” Mwangi said.
This Plan, which focuses on East and Central Africa, aims to strengthen regional resilience and capacity in the face of future shocks while also contributing to economic recovery and growth, as well as creating job opportunities for young people and markets for local producers.
It planned to lend up to 2% of the aggregate GDP of the six economies in which the Group operates to the private sector through short-term overdrafts, medium-term loans, and credit facilities requiring long-term project and development financing.
With this Plan, Equity aims to stimulate the region's social-economic change in a socially ethical and environmentally sustainable manner.
The Plan is completely based on sustainability and governance. Inclusion is a crucial aspect of a purpose-driven Plan to ensure no one is left behind.
The Plan comprises six strategic pillars designed to ensure the execution of a comprehensive, coordinated, and holistic framework.
These are based on advancing MSMEs in the private sector and putting them in charge of expanding prospects through activity enhancement in the primary sectors of agriculture, manufacturing, trade, and investment, as well as support for MSMEs.
These sectors will serve as a tool for community integration while also developing knowledge, research, technology, and innovations, as well as social impact investments and environmental concerns to ensure that no one is left behind and the environment is preserved.
