Equity Group has introduced a Business Continuity Plan (BCP) to protect its customers, staff and business from the economic impact of the Coronavirus pandemic. Clients with an impact of Covid-19 on their businesses and soundness of their business model in the new normal will get a reprieve of loan rescheduling and refinancing with up to an additional three years of repayment.
The Group is taking a personalized approach in restructuring customer loans to help them navigate through the COVID-19 pandemic that has evolved into a socio-economic crisis. The situation has affected large business ecosystems and industries such as travel, tourism, manufacturing, trade and commerce, construction, oil and gas as well as agriculture and education.
“We have been persuaded to think anew and act anew and hope that our initiative will provide stability, a steady hand and hope for our clients and customers for the road ahead and dial their fear down so that together we can save jobs, survive, preserve agility, flexibility and capacity to bounce back not only to survive and recover but to recover and succeed”. said Dr Mwangi, Equity Group Managing Director & CEO
“We have been on a journey with our customers and wish to go far by walking together with them. We believe that by supporting our existing clients, we shall help them keep their supply chains open and functional while maintaining their employees on their jobs,” Said Dr Mwangi,
The accommodation includes principal and/or interest repayment breaks or reduction of repayment instalments. This gesture is intended to ensure our clients focus on cash preservation to ensure the survival of their businesses and enterprises. We know this crisis is not going away anytime soon since the health crisis has not been resolved. “for this reason, we opted to be a patient and listening caring partner”, said Dr Mwangi. Our customers have been loyal and faithful, and we owe them who we are today. Our focus has changed from financial performance and profitability to survival, sustainability and recoveries of our customers who are the reason we exist,” added Dr Mwangi.”
Equity Group will also work with its customers to expand their opportunities in the health sector by financing them to manufacture health requirements such as face masks and Personal Protective Equipment (PPEs) locally while helping to create regional supply Chains. It will support food and agriculture to enhance production, processing, distribution and export. The group will support innovation in ICT and other initiatives to digitize the economy. All the initiatives of funding are anticipated to create new growth and employment opportunities.