Equity Group and Equity Group Foundation together with the United Nations system in Kenya, and its SDG Partnership Platform, have signed a strategic partnership to accelerate the achievement of the Sustainable Development Goals (SDGs) in Kenya by 2030.
The strengthened partnership will promote and catalyze investments in the SDGs beyond short-term cycles, enabling the UN system in Kenya to reach more people on the ground through Equity’s strong brand in the community, its infrastructure network, development expertise and local knowledge.
Additionally, the partnership will promote social and financial inclusion improving economic outcomes for human development and contributing to the socio-economic transformation of Kenya.
The coming together of the two institutions will support Kenya’s transition as an emerging Middle-Income country through harnessing innovative partnerships, investments, and financing to accelerate the SDGs for poverty alleviation, and minimizing reliance on aid for the transformation of the lives and livelihoods of the Kenyan people.
“Equity is joining this alliance as the implementation partner for various social impact initiatives aligned to the SDGs with the end goal of trickling down to the local communities. We will deploy USD 6 billion on the SDG Partnership Platform and we expect 5 million MSMEs to benefit from this financing within the region. We are convinced that these enterprises will create at least 5 jobs each. The engine of job creation is enterprises which will also create markets for the raw products from our communities and address the issue of unemployment,” James Mwangi, Equity Group MD and CEO said,
Through the enhanced partnership, Equity will work together with the UN Resident Coordinators Office, the SDG Partnership Platform and the 23 UN agencies with operations in Kenya to accelerate knowledge management for SDG achievement, with training and catalytic investments to facilitate market access and cross border trade across diverse value chains especially for women and youth entrepreneurs for on the development and implementation of Equity’s `Africa Plan for Resilience and Recovery’, in light of the impacts of COVID-19.
Arif Neky, Senior Advisor UN Strategic Partnerships and National Coordinator SDG Partnerships Platform said, “This partnership with Equity excites us because many Equity Group Foundation principles are aligned to those of the UN. Working with Equity, we shall connect and catalyze partnerships and investments in the SDGs beyond short term cycles, particularly enabling us to reach the people on the ground through Equity’s network.”
The partnership execution strategy will incorporate and involve the larger ecosystem and will transition from policy development to driving on the ground implementation through collaboration with key stakeholders such as Government, NGOs and the private sector.
Stephen Jackson, UN Resident Coordinator for Kenya, said, “Today we mark a milestone with an ambition to scale up and accelerate the opportunities that improve the economy and the lives of Kenyans. This is an exciting opportunity to innovate, co-create and expand opportunities that are targeted to create a world-class public-private model that everyone can emulate around the world. By partnering with Equity, we now can offer tremendous value to the local communities. We have identified sub-sectors and discovered that there are growth opportunities across various market segments.”
ALSO READ: President Kenyatta unveils Equity BCDC