Equity Recognized as Best Trade Finance Bank in Kenya by the 2023 Global Trade Review Leaders in Trade Awards for Africa

Equity Bank Kenya has been recognized as the Best Trade Finance Bank in Kenya by the 2023 GTR (Global Trade Review) Leaders in Trade Awards for Africa. This accolade signifies Equity Bank’s unwavering commitment to market leadership and excellence in delivering top-tier trade finance solutions.

The GTR Awards, renowned for identifying industry trailblazers and top performers on a global scale, serve to highlight exceptional contributions to the realms of trade, commodities, supply chain, export finance, and fintech.

This prestigious honor is a testament to Equity Bank Kenya’s pivotal role in facilitating international trade and economic growth, further solidifying its position as a frontrunner in the banking industry.

Equity Group’s 2030 strategy, the Africa Recovery and Resilience Plan, which is a multi-pronged and holistic solution to achieve socio-economic transformation of Africa outlines the Bank’s objectives in facilitating trade and investment to give broader market access, support factor mobility, expanded markets and access to technology to enhance the advancement of products and services.

Equity Group’s Trade finance performance remains robust. During the announcement of the 2023 half year results, the Group reported a 117% increase in gross trade finance revenue to Kes. 5.7 billion up from Kes. 2.6 billion, with trade finance related lending growing by 46% to Kes. 50.1 billion up from Kes. 34.4 billion.

Recent trade missions, organized by Equity Bank Kenya and partners to DRC, Tanzania and Kenya, have brought together delegates representing various institutions to engage local entrepreneurs, MSMEs and corporates in pursuit of partnerships and investment opportunities in the East African Community (EAC).

Cross-border trade within the continent is a key imperative that has driven the pursuit of agreements with trade blocks including the Africa Continental Free Trade Area (AfCFTA) and the East African Community (EAC) as well as national governments in the region.

The Best Trade Finance Bank in Kenya award is a testament to the Group’s commitment to supporting Kenyan businesses to trade internationally through the accessibility of financial services in order to catalyze sustainable economic growth across the continent.

Quote:

Gerald Warui, Equity Bank Kenya Managing Director: “This recognition underscores our steadfast dedication to advancing global trade, not only within Africa but also across continents. We are particularly proud of our achievements in trade finance, which play a pivotal role in enabling businesses to navigate borders seamlessly, thereby fostering job creation and a multitude of opportunities for wealth generation. Our commitment to leading the way in shaping Africa’s financial landscape and propelling economic growth remains unwavering.”