Equity bank has become the newest member of the Small and Medium Enterprise (SME) finance forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
In a statement, Matthew Gamser, CEO of the forum said 200 million businesses worldwide need financing to invest, grow and create new jobs.
He further said Equity bank has joined a network of more than 150 members who work to expand access to finance for small and medium businesses.
Mary Wamae, Executive Director of Equity Group has said the SME finance forum touches on each of these values as we learn of the latest innovations in SME finance and build our relationship management skills with global leaders of this industry.
The lender has subsidiaries in Kenya, Uganda, South Sudan, Rwanda, Tanzania and the Democratic Republic of Congo.
Equity Group recently signed a preliminary agreement with Atlas Mara that will see the bank’s entry into Zambia and Mozambique.
In November 2018, Equity bank was named an SME bank of the year, Africa at the prestigious IFC Global SME Finance Awards 2018, in a colourfull ceremony that was held in Madrid, Spain.
Speaking during the award ceremony, SME Finance Forum CEO Mr. Matthew Gamser congratulated all the winners of the inaugural Global SME Finance Awards.
“These awards celebrate the best-in-class financial institutions and Fintech’s that have achieved remarkable results in their SME product or service offerings. Our winners are diverse, but they all share a strong commitment to helping small businesses in their markets with their dedication and innovative practices. The winners are an inspiration to us and their peers,” said
The Global SME Finance Awards, endorsed by the G20 Global partnership for financial inclusion GPFI, recognises outstanding achievements of financial institutions and Fintech companies in delivering exceptional products and services to their SME clients.
The SME finance forum was established by the G20 (GPFI) in 2012 as a knowledge center for data, research and best practice in promoting SME finance.
As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.