PRESS RELEASE: Equity Group, African Guarantee Fund scale up transformative partnership

• The initiative aims to create and preserve jobs for young people and women in the East and Central Africa region. • AGF and Equity’s previous partnership has already unlocked over USD 160 million in loans for nearly 2,000 MSMEs, including 500 women-led and 900 youth-led businesses. Nairobi, Kenya – May 9, 2025: Equity Group Holdings Plc and the African Guarantee Fund (AGF) have strengthened their commitment to supporting Micro, Small, and Medium Enterprises (MSMEs) by renewing and expanding their strategic partnership through a USD 500 million (KES 64 billion) framework. This facility will enable Equity Group to scale its lending activities to MSMEs, unlocking USD 1 billion in financing for these businesses. The initiative is projected to create or sustain over 50,000 jobs. Building on a robust collaboration established in 2018, which was later enhanced in 2020 with a USD 75 million facility, this renewed partnership represents the largest single guarantee engagement in AGF’s history. It targets MSMEs in Kenya, Uganda, Rwanda, Tanzania, and the Democratic Republic of Congo (DRC), with plans to extend to future Equity Group subsidiaries over the next 10 years. The framework will be implemented in three phases, starting with an initial USD 115 million tranche already committed to the five core subsidiaries. It will cover loans to MSMEs, with a focus on women-owned, youth-led, and green enterprises. To date, the AGF–Equity partnership has unlocked over USD 160 million in loans for nearly 2,000 MSMEs, including 500 women-led and 900 youth-led businesses. Equity Group Managing Director and CEO, Dr. James Mwangi said, This expanded partnership with the African Guarantee Fund underscores our shared vision of empowering MSMEs, which are the backbone of African economies. By enhancing access to finance and promoting sustainable business practices, we are investing in the future of our communities, preserving jobs and driving inclusive growth across the region. We see a unique opportunity to deepen our focus on high-impact SME sub-sectors, including agriculture, women- and youth-led enterprises, among others. These are central to our Africa Recovery and Resilience Plan (ARRP), which emphasises the power of collaboration and strategic partnerships to unlock transformative growth. Noting the anticipated impact of the renewed partnership, AGF Group CEO, Jules Ngankam, said, “Our renewed partnership with Equity Group further increases our footprint and impact in the region. By supporting the Bank to accelerate SME financing, we envision several development impact indicators, including increasing the number of people employed and engaged in businesses and growth of enterprises from one stage to another, for instance, from small to medium enterprises,” he said. The partnership leverages Equity’s African Development Bank partnership under the Affirmative Finance Action for Women in Africa (AFAWA) Guarantee for Growth programme, which aims to unlock up to USD 3 billion in financing for women SMEs in Africa through financial institutions. A substantial portion of the risk-sharing mechanism between AGF and Equity will offer women entrepreneurs increased guarantee cover along with technical assistance as provided by the Equity Group Foundation, to help reduce the gender finance gap. The two institutions are also collaborating to support Green Financing and Blue Economy activities, demonstrating their joint commitment to environmental and nature sustainability by promoting green and blue projects, through AGF’s Green Guarantee Facility and Equity Group’s pioneering solutions for sustainable coastal and freshwater livelihoods. In addition, AGF will continue supporting Equity Group through its Capacity Development initiative, by offering comprehensive training programmes for the bank’s staff with a special focus on enhancing gender-smart investing. Equity Group and AGF remain committed to working collaboratively to ensure that this enhanced facility delivers measurable value to the region’s MSMEs and aligns with the UN Sustainable Development Goals (SDGs) and Africa’s Agenda 2063, reinforcing both institutions shared vision to transform lives through inclusive finance. - END - About Equity Group Holdings Plc Equity Group Holdings Plc is a Pan-African financial services holding company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. The Group has banking subsidiaries in Kenya, DRC, Rwanda, Uganda, Tanzania, South Sudan, and a Commercial Representative Office in Ethiopia. It has other subsidiaries in investment banking, insurance, telecom, fintech and social impact investments. Equity Group is the largest integrated financial services firm in the region with a market capitalisation of USD 1.27 Billion. The Group has an asset base of USD 13.96 Billion, customer base of 21.6 million supported by a footprint of 399 branches, 85,080 Agents, over 1.1 million Pay with Equity (PWE) merchants, 40,045 Point-of-Sale (POS) Merchants, 899 ATMs and an extensive adoption of digital banking channel. The Group’s strong brand recognition, solid liquidity buffers and resilient funding profile, established domestic franchise and extensive adoption of digital and alternative distribution channels have earned it the honor of being the Second Strongest Financial Brand on Earth in 2024 by Brand Finance. For more information log on to: https://equitygroupholdings.com About African Guarantee Fund African Guarantee Fund is a specialized guarantee provider whose mission is to facilitate economic development and poverty reduction in Africa. To achieve this, AGF increases access to finance for Small and Medium-sized Enterprises (SMEs) across key economic sectors through an array of guarantee products and capacity development assistance. Since inception, AGF has unlocked more than USD 5 billion in SME financing, through partnerships with 250 partner financial institutions across 44 African countries. AGF is backed by the following shareholders and sponsors: The Government of Denmark through the Danish International Development Agency (DANIDA), the Government of Spain through the Spanish Agency for International Cooperation (AECID), the African Development Bank (AfDB), French Development Agency (AFD), Nordic Development Fund (NDF), Investment Fund for Developing Countries (IFU), German Development Bank (KfW), French Agency for Private Sector (PROPARCO), West African Development Bank (BOAD), Global Affairs Canada (GAC), TechnoServe, NORAD, Mastercard Foundation and OAPI. African Guarantee Fund is rated AA- by Fitch Ratings.

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PRESS RELEASE: Equity Group, African Guarantee Fund scale up transformative partnership