The Kenya Red Cross Society has teamed up with Equity Bank to boost its response to humanitarian crises by improving aid and long-term support for the health, financial knowledge, overall well-being, and disaster resistance of communities nationwide.
During the signing of the Memorandum of Understanding, KRCS Secretary General Ahmed Idris stated that the collaboration aims to utilize the complementary capabilities of both institutions to improve community readiness and response to humanitarian crisis situations.
The partnership will allow the two organisations to work together closely, designing and implementing community-driven initiatives that address human suffering and contribute to long-term growth.
“This is also an opportunity to work together with Equity Bank to create sustainable solutions that can help families affected by disasters, recover their livelihoods, and find long-term paths to becoming more resilient,” Idris said.
“We aim to improve access to financial education, economic opportunities, and dignified recovery for households in need.”
Moses Nyabanda, Managing Director of Equity Bank, welcomed the collaboration, highlighting Equity’s commitment to bolstering community resilience through influential partnerships.
He stated that this partnership enables us to combine the Red Cross’ extensive experience in humanitarian response with Equity’s capability in financial inclusion.
We are eager to learn from KRCS about the most effective ways to assist communities during emergencies, and we aim to supplement their efforts through the Equity Group Foundation’s pillars, which focus on social protection, access to financial services, and restoring livelihoods.
“Our aim is to guarantee that families who are at risk not only bounce back from setbacks, but are also empowered to prosper.”
Equity views the partnership as a chance to boost social protection initiatives through the provision of insurance solutions and to expand community support systems by utilising the bank’s financial infrastructure and outreach networks.
The partnership involved the two organisations agreeing to work together on various key areas that matched their respective objectives, guidelines, and operational systems.
Nyabanda stated that the primary areas encompass financial literacy, achieved via training programs for women and youth groups on fundamental budgeting, cautious borrowing, efficient saving, and investing.
The programme will also involve training in entrepreneurship and digital literacy for vulnerable populations, as well as offering loans and other financial services to trained groups.
Idriss stated that the partnership will also improve the delivery of cash transfers and other forms of cash and voucher aid, with Equity acting as a financial service provider to facilitate some of the distribution of assistance via mobile money, bank accounts, and other suitable channels.
