STATEMENT ON CORPORATE SOCIAL RESPONSIBILITY 2008/2009
Equity’s vision is to champion the socioeconomic prosperity of the continent of Africa. To realize this vision, the Bank has focused on providing inclusive financial services to all consumers regardless of their race, gender, ethnic group, religious conviction or locality. Through its work, the Bank has transformed the lives of a large number of customers who had previously been excluded from the formal economic sector - given them hope, dignity and economic empowerment.
ERADICATION OF POVERTY, HUNGER AND THE PROVISION OF HUMANITARIAN AID
 Equity Bank staff donate food to orphaned children in Ol Kalaou. |
Equity Bank has partnered with both governmental and non-governmental groups such as the Alliance for Green Revolution in Africa (AGGRA, the World Economic Forum (WEF) under the project Business Alliance against Chronic Hunger (BAACH) and the Millennium Promise to make credit accessible to farmers and thereby helping improve food security and contributing to the eradication of poverty and hunger.
|
Equity Bank also supports communities in distress. Thus, following the post –election violence in January, 2008, the Bank, in conjunction with various stakeholders, supported Internally Displaced Persons (IDPs) by providing aid valued at Ksh 85 Million through the ‘Tumaini na Undugu’ initiative. Further, the Bank extended credit with flexible security and repayment terms as well as financial literacy programmes to help the victims regain their dignity and pick up their lives by starting small income generating activities individually or in groups.
EDUCATION
Over the years, Equity Bank has been a solid partner to the education sector. The Bank has a Memorandum of Understanding (MOU) with the Ministry of Education to disburse Free Primary Education (FPE) funds and the Free Secondary Education (FSE) funds in support of free primary and free secondary education programmes. In addition, Equity Bank has invested in a number of other initiatives in the Education Sector. Key among these is the Bank’s Pre-University Programme, which has been running since 1998. The programme extends University Education Sponsorship to the top male and female student in all the districts where the Bank has a presence. To this end, the Bank in 2008 spent some Kshs 112 Million on 186 students who excelled in the 2007 KCSE. The Bank has also been the main sponsor of the Kenya National Music and Colleges Drama Festivals as part of the mission to support and nurture more talent among the youth of Kenya.
Hon. Professor Sam Ongeri-Minister for Education (front row, red tie), Hon. Professor Olweny-Assistant Minister, Dr. James Mwangi-CEO Equity Bank, Peter Munga-Chairman Equity Bank and other dignitaries with 2007 Pre-University Programme beneficiaries.
In 2008, the Bank spent some Kshs 4 Million in sponsorship of the two annual events. Finally, the Bank in conjunction with Kenyatta University, begun a community outreach programme. Through this programme university students live and work with local communities addressing local social and economic challenges through the initiation and implementation of development projects.
Equity Bank staff explaining to women about Fanikisha programme.
GENDER EQUALITY AND WOMEN EMPOWERMENT
Equity Bank promotes gender equality and women empowerment. This is done through designing and delivering products suitable for women. For example, in partnership with United Nations Development Programme (UNDP) the Bank launched the Fanikisha Project, which provides access to financial services, information and financial literacy training to women entrepreneurs. As mentioned previously, Equity Bank also pursues gender equality by providing access to university education for both the best boy and best girl in the districts in which it operates.
HEALTH
Equity Bank invests in initiatives aimed at reducing the spread of HIV/AIDS, drugs and substance abuse. Through Community Outreach Programmes, the Bank partnered with some public universities where the students worked with communities to create awareness and provide counseling on HIV/AIDS and substance abuse.
Employees of the Bank have been supporting Orphans and Vulnerable children in different parts of the country. Moreover, Equity Bank has partnered with such institution such as the Meru Hospice to provide access to financial services to HIV/AIDS infected and/or affected people.
ENVIRONMENTAL SUSTAINABILITY
Equity Bank remains committed to environmental protection and sustainability. In this regard, the Bank has invested in activities such as participating in tree planting, environmental cleanups, beautification and landscaping in areas where we operate.
Equity Bank staff helping in environmental clean-up.
BANK LEADERSHIP’S VOLUNTARY SERVICE TO SOCIETY
The staff of Equity Bank under the leadership of Dr James Mwangi, the Chief Executive Officer, volunteered their time and expertise for the benefit of the society. In 2008, staff spent time conducting financial literacy courses, mentoring and coaching people on the fundamentals of entrepreneurship and financial management.
The leadership team has contributed time and expertise to several policy and advocacy forums at national, regional and international levels. For example, the team participated in the drafting of the Kenya’s Vision 2030 between 2006 and 2008. The leadership has also participated in such for a as the World Economic Forum on Africa and AFRACA. At the international level, the leadership serves on several international advisory bodies such as the UN, UNEP, the Clinton Global Initiative, and the Global Economic Network.
Equity Bank staff explains a point to customers during a financial literacy session.
For Equity Bank, investing in society and giving back is a key part of our corporate strategy. The Bank will therefore continue to support corporate social responsible initiatives.
|
