Equity Group Holdings Plc. on Wednesday signed a $100 million USD loan facility with Germany’s DEG, the UK’s CDC Group, and the Netherlands FMO in its continued commitment to walk with MSMEs to survive the pandemic, recover, repurpose and thrive during and after the COVID-19 crisis.
In response to the COVID-19 crisis, Equity launched an offensive and defensive approach to support customers while innovating alongside MSMEs who are leveraging on the opportunities that have presented within the crisis.
The Group has also provided loan repayment accommodation and rescheduling for up to 45% of the customers whose cashflows were deemed likely to be negatively impacted by the COVID-19 pandemic. In its third-quarter 2020 results, Equity reported a 30% growth in its loan book to support customers who saw opportunities for green shoots and diversifications in the COVID-19 environment. Most of the new opportunities funded are in the manufacturing of PPE, logistics, online businesses, agro