More than five hundred delegates around the world converged in Nairobi for the 2019 clean energy forum. Being held in East Africa for the first time, the forum was co-hosted by the Clean Cooking Alliance (the Alliance), the Ministry of Energy and private stakeholders including Equity Bank.
The Alliance’s CEO, Dymphna van der Lans, in his opening remarks recognized the leadership demonstrated by the Government of Kenya in working to increase access to clean cooking. She added that Kenya has been at the forefront of establishing policies that support clean cooking sector growth. It has made a commitment that its entire population will have access to modern energy services for cooking by 2030.
The three day forum came to an end with a closing plenary which explored the role of women in entrepreneurship. Equity Bank managing director Kenya, Mr. Gerald Warui reiterated the role of the bank and other stakeholders in promoting the uptake of clean energy in Kenya.
Equity is keen to finance and improve access to affordable, reliable and sustainable clean energy for all. EcoMoto Loan available on Equitel is the world’s first digital energy loan product.
The bank has also partnered with the Kenya Forest Services to kick start a Kshs. 35 million tree planting campaign in an effort to conserve the environment. So far, the lender’s efforts of planting over 1 million trees have seen 70,000 metrics tons of carbon dioxide emissions reduced thus contributing to the government’s target of 30% reduction by 2030. Equity’s target is to reduce emissions by 1million metric tons by 2022.
The forum was closed by Chief Administrative Secretary Ministry of Energy Hon. Simon Kachapin. “I am very glad to be here today and take part in this great initiative that we are aiming to fulfil. I believe that the outcomes of this forum will accelerate the achievement of clean cooking energy for all by 2030. The Government of Kenya continues to be a champion to achieve clean energy solutions,” said Hon. Simon Kachapin.
To date, Equity Bank has supported the distribution of over 100, 000 clean energy products worth over US$ 6 million with an estimated 300,000 individuals who have benefited from clean energy products such as solar and clean cook-stoves. It has established a robust distribution network of high quality renewable energy products throughout the country.