Businesses have been encouraged by Rwanda’s Equity Bank to use the $6 billion fund set aside to aid in recovery and post-Covid-19 resilience.
On September 30th, at the beginning of the “Ikaze Munyamuryango” campaign, it was declared that over 15 million Equity members in seven African markets would be honored in this way.
The event will honor the bank’s many satisfied Equity customers in Rwanda and encourage even more locals to take advantage of the bank’s advantageous position in the vast east and central African market.
Identical efforts have been launched in all of the markets where Equity Bank operates.
Equity Bank Rwanda Managing Director Hannington Namara said, “Now we have to work together with our members to find other opportunities that can help boost up the economy.”
According to him, the lender has pooled together $6 billion from its various partners to support African businesses through the African Recovery and Resilience Plan.
He listed a variety of industries as his focus, including mining and agriculture, production and distribution, finance and international trade, micro, small, and medium-sized enterprises, sustainability and green technology, and social and environmental change.
To end poverty, he said, “we must direct our resources to these industries.”
Businesses, he claims, will be able to tap into the fund for things like loans and guarantees with interest rates that change based on the danger level of the undertaking. ‘We certainly look forward to making financing cheaper in the sense that businesses can afford to pay it and remain profitable,’ he added.
Board Chair Col (Rtd) Eugene Haguma of Equity Bank Rwanda expressed gratitude to the bank’s leadership for assisting economies and ensuring the continent of Africa continues to undergo a period of rapid socioeconomic transformation.
The bank’s extensive network presents numerous opportunities, and I’d like to encourage as many people and companies as possible to take advantage of them.
Owner of Taste Food Restaurant and Equity Bank customer Faith Kamukama claims that through banking with the financial institution, she has experienced business growth and been able to hire additional staff.
Her advice to other businesses was to take the loan despite the uncertain economic climate and to use the money wisely so that they could eventually thrive again.
Namara added that a new initiative called “One Equity” will make it easier for customers to use the lender’s products and conduct business in any of the countries where Equity bank is present.
The bank has maintained its position as a pioneer in the field of digital transformation by way of constant experimentation. The Eazzy Suite, which Equity Rwanda upgraded, has seen unprecedented growth in popularity over time. This suite includes the EazzyBanking App, Equity USSD *555#, EazzyNet, EazzyBiz, EazzyLoan, and EazzyAPI.