EAC, Equity Bank deal to promote trade, integration
Equity Group CEO James Mwangi and the East African Community Secretary-General Peter Mathuki at the EAC headquarters in Arusha, Tanzania, on July 21, 2022, after signing a memorandum of understanding on financing SMEs. PHOTO | JACKSON MUTINDA
Regional lender Equity is seeking to piggyback on the protocols of the East African Community to implement its ambitious Africa Resilience and Recovery Plan which targets small businesses in East Africa.
On Thursday, the bank signed a memorandum of understanding with the EAC, on the sidelines of the 21st Ordinary Heads of State Summit, to help fast-track the plan. Equity Group CEO James Mwangi and EAC Secretary-General Peter Mathuki said the MoU is a vehicle for financial support and development financing using the infrastructure of the Common Market.
