Questions a) How Could marketing mitigate the health, social, humanitarian, and economic impacts of the COVID-19 challenges that Equity and other banks suffered ?
Equity Group has launched a private sector focused stimulus package to accelerate economic recovery and resilience in the Eastern and Central Africa region as it recovers from the devastating health, social, humanitarian, and economic impacts of the COVID-19 pandemic. Equity’s Eastern and Central Africa Recovery and Resilience plan is envisaged to provide financing of up-to 2% of the combined GDP of the six economies, in which the Group operates, to the private sector in the form of blended financing of short-term overdrafts, medium term loans and credit facilities which require long-term project and development financing.
While launching the Recovery and Resilience Plan Dr. James Mwangi, Equity Group Managing Director and CEO said, “A total of Kshs 678 billion (USD 6 billion) will be available to 5 million MSMEs and 25 million individual borrowers for the next 5 years. The plan conceives that the 5 million businesses largely comprising MSMEs will create 50 million jobs, 25 million jobs directly and an equal number of jobs indirectly as the ecosystems of business become more cohesive, connected, and ultimately synergize and grow.” “The recovery plan will have special focus on youth and women, supporting them to be the primary drivers of creating and expanding opportunities in the real economy. The Regional Development Plan through recovery and resilience initiatives focuses on five thematic areas:
- Primary sectors of Food and Agriculture, and extractive sectors
- Manufacturing and Logistics
- Trade and Investments
- Micro small and medium enterprises
- Social impact and Environmental investments
Questions
a) How Could marketing mitigate the health, social, humanitarian, and economic impacts of the COVID-19 challenges that Equity and other banks suffered ?
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