Equity Bank Limited, during the German-Africa Business Summit held in Nairobi, signed a memorandum of understanding with German financial institution, ODDO BHF aiming to leverage plenty and useful resources in Africa and Europe.
The partnership, signed by Equity Group CEO Dr. James Mwangi and ODDO BHF Head of Corporate Banking Florian Witt, other than utilizing properly the Africa’s abundant resources, including human capital, arable land, and renewable energy potential, seeks to link Africa with Europe’s already established entrepreneurial expertise and technological advancement.
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The collaboration focuses on four key drivers, which includes; demography, decarbonization, digitization, and de-risking, with emphasis on supply chain diversification away from traditional dependencies on China and Russia.
ODDO BHE, recognizing Africa’s stability and profitability potential, will work with Equity Group on various initiatives, including impact investment through their respective foundations and trade financing in regions like the Democratic Republic of
Congo.
The partnership builds upon Equity’s recent establishment of a German Desk in collaboration with the German Development Finance Institution (DEG), positioning the bank as a link between African MSMEs and European markets.
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