Africa: Equity Bank Unveils $ 6bn Africa Recovery Plan

Equity Bank Uganda Limited has unveiled the $ 6 billion (Shs 24trillion Uganda) Africa Recovery and Resilience Plan to help businesses hit hard by Covid-19 recover.

Speaking at a breakfast meeting dialogue last week, Dr. James Mwangi the Equity holding Group CEO said the fund will not only support businesses to flourish but also spur economic recovery.

According to Dr. Mwangi, the project will be implemented through six strategic pillars of Food and Agriculture, Trade and Investment, MSMEs, Technology, Manufacturing and Logistics and Social and Environmental transformation all envisaged to reach millions of customers while creating over 25 million direct jobs.

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Deputy Speaker of Parliament Thomas Tayebwa revealed that Parliament has also finalized four laws aimed at boosting the performance of the private sector.

“The laws will be a gateway for development of the private sector, and more so curb money laundering and anti-terrorism financing,” Tayebwa said.

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He said in order to improve the legal framework for businesses, Parliament will pass seven bills to regulate the business environment and make it safer for sector players.

Next Media Services Group CEO Kin Kariisa called on Equity Bank to align the Africa Recovery and Resilience Plan, with the National Development Plan III.

“What we need is the bank together with National Development Plan to align their goals with the National Planning Authority such that the country can realize its goals. We need to move away from simply talking and start putting these excellent plans into reality,” Kariisa said.

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