Equity Bank avails $6 billion fund to boost business recovery across Africa

Equity Bank Rwanda Plc has called on businesses to take advantage of the $6 billion fund available to support recovery and post Covid-19 resilience. This was announced during the launch of “Ikaze Munyamuryango” campaign that seeks to celebrate over 15 million Equity members across seven African markets, on September 30. It aims to celebrate various Equity clients in Rwanda while calling on more individuals and businesses to leverage multiple opportunities in the broad market that the bank occupies in the east and central Africa region. A similar campaign has also been rolled out in other markets where Equity Bank is present. Hannington Namara, Managing Director of Equity Bank Rwanda, said that even though the pandemic has disrupted the economy heavily, “now we have to work together with our members to find other opportunities that can help boost up the economy.” Under the African Recovery and Resilience Plan, he said that the lender has consolidated $6 billion from its different partners to help businesses thrive. He mentioned different target sectors including; agriculture and mining, manufacturing and logistics, trade and investments, MSMEs, social and environmental transformation, and technology innovations. “It is through focusing investments in these sectors that we will eradicate poverty,” he noted. According to him, businesses will access the fund in form of loans and guarantees with interest rate varying depending on the project’s risks. “We certainly look forward to making financing cheaper in the sense that businesses can afford to pay it and remain profitable,” he added. Col (Rtd) Eugene Haguma, the Board Chair of Equity Bank Rwanda, thanked the bank’s leadership in helping economies and ensuring continuous socio-economic transformation of Rwandans and Africans at large. “I take this opportunity to call on more individuals and businesses to explore the various opportunities that come with the extensive network of the bank.” Faith Kamukama, owner of Taste Food Restaurant and a member of Equity Bank, said that over the years banking with the lender, she has seen her business boom and allowed her to create jobs for more people. She encouraged other businesses to not fear taking the loan in the current unstable economic situation, but rather to have a proper business plan and use the available funds properly so as to recover and be sustainable. Namara also mentioned that there is also an upcoming program dubbed “One Equity” that will facilitate customers to access the lender’s products and do all transactions in any country where Equity bank is operational. Over the past two years, Equity Bank has scooped the top award consecutively as the leading lender in the country. The Bank continues to lead in digital transformation journey through innovation. Equity Rwanda upgraded its Eazzy Suite, which includes EazzyBanking App, Equity USSD *555#, EazzyNet, EazzyBiz, EazzyLoan and EazzyAPI that have delivered an unmatched increase in use over time.

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Equity Bank avails $6 billion fund to boost business recovery across Africa