Equity Bank boss Mwangi calls for social inclusion of refugees in Africa

By Peter Ochieng

Equity Group Chief Executive Officer (CEO) and Managing Director James Mwangi, has called for increased social inclusion of refugees in Africa.

Speaking during the 2nd edition of the Amaharo Refugee Forum in Accra, Ghana, Mwangi invited stakeholders to equitably include refugees in societal processes, and create an enabling environment for them to thrive in society.

According to the United Nations High Commission for Refugees (UNHCR), more than 108 million people were forcibly displaced worldwide in 2022, due to persecution, conflict, violence, human rights violations and disturbances in public order.

About 74% of the displaced persons were hosted in low- and middle-income countries.

The Equity CEO holds the view that equitable provision of key essential services to refugees across the continent, will be crucial in creating opportunities for wealth creation.

“Equity is partnering with UNHCR in line with our purpose which is to transform lives, give dignity and expand opportunities for wealth creation. We have realized that the surest way of integrating refugees with host communities is to build programs for them beyond the social safety net payments. The issue of refugees is too big for individual governments and requires coordinated efforts from the private sector,” said Mwangi.

He said within the East Africa region, Equity Bank continues to provide inclusive financial services to thousands of refugees and Forcefully Displaced Persons (FDPs) living in Kenya, Uganda, Rwanda South Sudan and DRC.

"The bank has been able to sustainably provide a wide range of services to refugees and host communities. The services provided by the bank include; access to savings, credit, payment, insurance and investment opportunities."

“We chose to integrate refugees into our banking activities. We are now providing them with savings, provide them with loans, and enhance their capacity through financial training and entrepreneurship. We have worked closely with UNHCR to enhance mechanisms for integration of refugees into society,” he added.

He stated that they continue to foster integration and social cohesion between refugees, and their host communities through social impact investments and livelihood opportunities has been key to promoting self-reliance and economic independence for displaced persons.