Equity Group secures 495 million guarantee from AGF to unlock 1 billion in MSME lending across five African countries.
Deal expected to support 50,000 jobs and expand financial access for women and youth-led businesses.
James Mwangis bank pushes green, inclusive finance while targeting expansion in Tanzania and Uganda.
Equity Group, East Africas largest lender led by Kenyan banker James Mwangi, has secured a game-changing partnership with the African Guarantee Fund AGF. The move, which includes a Ksh64 billion 495 million guarantee from AGF, is set to revolutionize financial access for Micro, Small, and Medium Enterprises MSMEs across East and Central Africa.
Partnership aims to unlock 1 billion in MSME financing
This partnership, touted as the largest single guarantee agreement in AGFs history, will provide crucial support to MSMEs in Kenya, Uganda, Rwanda, Tanzania, and the Democratic Republic of Congo DRC with plans to reach future Equity Group subsidiaries over the next decade. By leveraging this facility, Equity Group aims to generate Ksh129.5 billion 1 billion in lending, supporting over 50,000 jobs, with a focus on empowering women and youth entrepreneurs.
This expansion of our collaboration with AGF reflects our unwavering commitment to MSME growth, a cornerstone of Africa's economic stability, said James Mwangi, Equity Groups Managing Director and CEO. Our initiative is designed not just to increase access to finance but also to foster job creation and sustainable development in the region.
Sustainable growth and economic resilience in AfricaThe deals rollout will occur in three phases, starting with a 115 million Ksh 15 billion tranche dedicated to five of Equitys key subsidiaries.