Project detail - EQUITY BANK LIMITED

EQUITY BANK LIMITED

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Who is our client

Equity Bank Kenya Limited is a wholly owned subsidiary of Equity Group Holdings Limited a listed company at the Nairobi Stock Exchange. Equity Group Holdings Limited has a customer base of more than 12.7 million in 6 East African countries, making it one of the largest commercial banks on the African continent, by customer numbers, offering a full range of corporate, SME and retail banking services.

Funding objective

FMO is providing a USD 25 mln Trade finance facility under the Rabobank Trade finance Enhancement Facility Agreement with FMO, to strengthen Equity’s Trade Finance activities.

Why we fund this project

Equity Bank is a strong and well-reputed Tier 1 bank in Kenya and ARISE investee and former client of FMO. FMO is supporting Equity Bank as part of our strategy to promote and facilitate trade in and between emerging markets in support of economic growth. Kenya is the major Eastern African hub, therefore crucial for east African and global trade. Through this facility, FMO will support job creation, in agriculture, transport, manufacturing and wholesale sectors in Kenya and the eastern African community

Environmental and social rationale

This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. The trade finance activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of this facility, Equity Bank will be required to apply the EDFI Exclusion List and national E&S laws and regulations.

More investments

Date Total FMO financing
12/17/2021 USD 25.00 MLN
12/10/2020 USD 37.50 MLN
Region
Africa
Country
Kenya
Sector
Financial Institutions
Signing date
6/12/2018
Total FMO financing
USD 25.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B