Equity Group Holdings, East Africa’s largest financial services group led by Kenyan banker James Mwangi, increased procurement spending on women-owned businesses by 303% to Ksh3.72 billion ($28.63 million) in 2025, as the Kenyan financial services group expanded efforts to promote inclusive economic participation and support entrepreneurs.

The expenditure rose from Ksh923.53 million ($7.11 million) in 2024 and represented part of the Group’s total procurement spending of Ksh52.79 billion ($406.24 million) during the year, according to its 2025 Sustainability Report.

The increase highlights the Group’s growing focus on directing business opportunities towards women-owned enterprises, alongside youth-led businesses and suppliers from local markets.

Equity increases procurement from women-owned businesses

Spending on youth-owned businesses also increased by 75% to Ksh491.05 million ($3.78 million) in 2025, compared with Ksh280.67 million ($2,16 million) in the previous year. Equity Group said local procurement remained central to its strategy of supporting domestic enterprises and widening access to commercial opportunities.

“We are particularly focused on supporting youth-led and women-owned businesses wherever possible. In 2025, 90% of our procurement spend was spent on local suppliers,” the Group said.

Overall, Equity spent Ksh47.59 billion ($366.26 million) on local suppliers, representing 90% of its total procurement expenditure. This compared with Ksh41.48 billion ($319.24 million) in local procurement spending in 2024.

Local suppliers account for 90% of procurement

The Group’s procurement figures underscore the importance of domestic suppliers to its operations and broader economic inclusion strategy.

By directing a substantial share of its procurement expenditure to local businesses, Equity said it aims to strengthen domestic enterprises and create wider opportunities for businesses to participate in its supply chain.

The Group also reported that it onboarded 306 new suppliers in 2025. All newly onboarded suppliers underwent environmental and social screening as part of its responsible sourcing requirements.

Equity expands employment opportunities for persons with disabilities

Beyond supplier development, Equity Group reported an increase in the recruitment of persons with disabilities during the year. The Group hired 67 persons with disabilities in 2025, representing a 24% increase from the 54 recruited in 2024.

The recruitment figures form part of its broader efforts to promote workplace inclusion and expand economic participation among groups that often face barriers to employment.

Equity said it would continue strengthening supplier assessments and incorporating environmental, social and governance considerations into procurement decisions.

The approach reflects the Group’s efforts to extend its sustainability commitments beyond financial services by using procurement, supplier development and recruitment to support broader participation in economic activity.

Equity Group Holdings Plc has continued its expansion across East and Central Africa, with operations spanning Kenya, Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of the Congo. Under James Mwangi, the bank’s largest shareholder and CEO, the lender’s balance sheet strengthened, with total assets increasing 5.84% to Ksh2.16 trillion ($40.44 billion), driven by higher investment securities and net loans to customers.