Equity Group, led by Kenyan banker James Mwangi, partners with WFP to fund smallholder farmers

Oluwatosin Racheal Alabi -

Key Points:

  • Equity Group and WFP provide financial literacy training and concessional finance to smallholder farmers, improving their productivity and livelihoods.
  • The initiative supports marginalized communities with technical assistance and prepares agro-processors and agripreneurs for impact investments.
  • Training includes climate-resilient crop management and regenerative agricultural practices, enhancing food security and reducing food waste.

Equity Group, East and Central Africa’s leading financial services group led by Kenyan banker James Mwangi, has partnered with the World Food Program (WFP) to provide financial literacy training and concessional finance to smallholder farmers.

This collaboration aims to enhance agricultural productivity and food security by integrating farmers into the agricultural value chain, thereby improving their livelihoods.

Empowering farmers through training and finance

The partnership, executed through the Equity Group Foundation, will deliver essential training to value chain actors, enabling them to access much-needed finance. Additionally, technical assistance will be provided to agro-processors and agripreneurs, preparing them for impact investments facilitated by Equity Bank.

This initiative targets marginalized communities with limited access to traditional finance, promoting the development of a sustainable agro-industrial sector that supports economic diversification, food and nutrition security, employment, and improved livelihoods.

Equity Group CEO James Mwangi emphasized the importance of partnerships like this in scaling outputs and improving access to finance.

“We want to work with partners like WFP to scale outputs and access to finance to facilitate investments in agricultural activities to support farmers to enhance productivity, integrate into value chains, and ultimately improve their livelihoods while contributing to food security, sustainably,” said Mwangi.

He further highlighted the Group’s commitment to its ‘Africa Recovery and Resilience Plan,’ which aims to allocate 30 percent of the loan book regionally to farmers by 2030, addressing both financial access and the challenges posed by climate change.

Addressing hunger through innovative partnerships

WFP Executive Director Cindy McCain underscored the transformative potential of the training program for farmers.

“This is a powerful example of how innovative partnerships can address the root causes of hunger. By empowering farmers with the tools and resources they need to thrive, we can create a ripple effect of prosperity that strengthens long-term food security for the whole community,” McCain said.

The partnership’s approach includes training farmers in climate-resilient crop management and regenerative agricultural practices, as well as financial management. Infrastructure support will be provided to reduce food waste, prevent crop spoilage, facilitate market access, and transport goods to markets, ultimately boosting farmers’ incomes and livelihoods.

Smallholder farmers play a major role in food production in many developing countries, including Kenya, and are essential to improving global food security.

This partnership between Equity Group and WFP aims to uplift these farmers, ensuring they have the resources and support needed to thrive in a sustainable manner.

Equity Group expands under James Mwangi’s leadership

Under the strategic leadership of Mwangi, Equity Group has demonstrated robust growth, increasing its active client base by 10.73 percent from 17.7 million in 2022 to 19.6 million in 2023. Mwangi’s vision has propelled the conglomerate’s expansion into multiple countries across East and Central Africa, solidifying its status as a regional powerhouse.

Despite facing economic headwinds in recent years, Equity Group continues to exhibit resilience, establishing itself as a systemic bank in East Africa through its strong presence and digital-first approach, positioning it for sustained growth in the region.