Kenya: Equity becomes Best Financial Services Provider at Avocado Awards

Nairobi – Equity became the overall winner in the Financial Services category at the 2021 Avocado Industry Excellence Awards.

The bank has been recognized for its continued support, inclusive modern financial services and solutions to actors in the avocado value chain.

Receiving the award, Equity’s Managing Director for Food and Agriculture, George Macharia, reiterated the bank’s commitment to supporting all stakeholders in the avocado industry through a range of innovative and well-tailored financial products and services to meet the needs of value chain actors.

“Kenya is a major producer and exporter of avocados and is currently the largest producer of avocados in Africa. We support farmers who grow avocados and also support the value addition and processing of avocados. We offer comprehensive financial services such as short-term bridging work. capital during the peak harvest season,” he said.

The chief executive of the Avocado Society of Kenya, Ernest Muthomi, said the avocado value chain supports livelihoods and has been a major contributor to horticulture income. In 2021, Kenya’s avocado exports generated Ksh 14.6 billion for the country.

“An estimated 70% of Kenyan avocados, even those destined for export, are produced on small farms. Murang’a is the main avocado-producing county, followed by Kiambu, Nakuru, Kisii, Nyamira, Meru and Bomet counties. Nyeri, Laikipia, Elgeyo Marakwet and Uasin Gishu are also emerging in this sector. Equity offers modern financial services and solutions to players in the avocado value chain to these farmers, hence the reason why they won the award,” he said during the award ceremony. .

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