Equity Group signed agreements to further private sector market linkages between the US and Africa with MasterCard and HPE/HPI.
During the recent state visit of President William Ruto to the US, Equity Group played a pivotal role in organizing the private sector from both Kenya and the US to mobilize resources and talents to contribute to the strong collaboration between the two nations.
Arriving in Washington DC, Equity convened a gathering of US Senators and House of Representatives members, leadership from US agencies as well as private sector leadership from Kenya and the East Africa region for an informal hearing on private sector opportunities on the continent.
This was done through a panel discussion on why including the private sector was critical to the success of the US-Kenya relations.
The event was held at the US Senate Dirksen building and was followed by a reception for 500 people.
Dr James Mwangi, Equity Group Chief Executive Officer applauded the gathering to the event by saying; “in this historic chamber, in this historic building, men and women have come together throughout time in memoriam to progress and advance lives and livelihoods for the betterment of all peoples, everywhere.
“Today we bring the power and the resources of the private sector, together with the influence of the public sector to create policy with the implementers of the global economy,” said Dr Mwangi.
According to the Equity Group CEO, this is so that “we may exponentially add to the sustainable growth and development for both our peoples and for the future of our families and our families’ families in both Africa and the America.”
US Senators Cory Booker and Ben Cardin, along with the House of Representative Members, Congresswomen Sheila Cherfilus-McCormick and Barbara Lee spoke to the gathering about Kenya stepping up onto the global stage and the need to support private sector economic and social partnerships for sustainable development.
Senator Ben Cardin, whom Equity Group has been building a strong relationship with since the December 2022 US Africa Leaders’ Summit in support of the Africa Recovery and Resilience Plan (ARRP) stated, “a strong private sector is vital to sustained economic growth, job creation, and resilience.”
Senator Cory Booker, who had visited the Equity Group while in Kenya in April said he appreciated the comments of Dr.
Mwangi during the roundtable discussion, particularly on changing the narrative about Africa.
“I agree with your statement that Africa is a continent of endless possibilities, vast resources, and is holding solutions to all of humanity’s problems,” said Senator Cardin.
While in Washington DC, Dr Mwangi and the Equity Group delegation took part in the US Chamber of Commerce Business Forum where the Equity boss was featured in a panel focused on digital platforms for financial inclusion alongside MasterCard CEO, Michael Miebach.
There was also Microsoft President, Brad Smith where it was announced that Equity Group would be one of five founding members of the inaugural MasterCard Community Pass, MADE Alliance- funded in part by the African Development Bank (ADB) championed by US VP Kamala Harris.
This was done alongside Microsoft Airband, Heifer International, Unconnected.org and the Syngenta Foundation in order to support the scaling up of small scale farmers on the African continent to agribusiness, while using digital platforms to reach the last mile.
Message from Mr Samson K Some, the Chairman Board of Trustees, Tourism Fund (TF)