Equity Group to Boost Leather Industry in Kenya

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Equity Group has pledged its support to farmers and traders in Kenya’s leather value chain, aiming to enhance the sector’s growth and global competitiveness.

The announcement was made by Equity Group Managing Director & CEO, Dr. James Mwangi, during a roundtable discussion at Equity Centre.

The forum, organized in collaboration with KenInvest and the Ministry of Investments, Trade and Industry (MITI), explored opportunities to strengthen Kenya’s leather industry.

Dr. Mwangi emphasized Equity’s commitment to empowering local farmers and traders by providing access to critical financing and strategic tools.

“Equity is keen on making the leather industry players competitive against their counterparts not just in Africa but globally. We are ready and have even set up mechanisms, including the German Desk and other channels, to help farmers and traders access the European markets.” he stated.

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Government officials lauded Equity’s initiative, recognizing its potential to accelerate industry growth. The Principal Secretary for the State Department of Industry in MITI, Dr. Juma Mukhwana, highlighted the government’s focus on the leather sector.

“The government has prioritized the leather industry in its manifesto, and the willingness of Equity to play a leading role in financing players in the sector is a major boost.” he stated.

Jonathan Mueke, Principal Secretary for the State Department of Livestock Development in the Ministry of Agriculture and Livestock Development, echoed these sentiments.

“The government has provided the right policies and incentives. Equity’s role as a financial catalyst will help commercialize the leather sector and transform lives through sustainable growth and opportunities.” he noted.

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KenInvest CEO, John Mwendwa, emphasized the significance of collaboration in addressing industry challenges.

“Thanks to Equity, we’ve had the chance to discuss the leather industry’s challenges and opportunities. The insights from these discussions will help shape a pitch for global investors, benefiting farmers, traders, and stakeholders.” he said.

Carole Kariuki, CEO of the Kenya Private Sector Alliance (KEPSA), underscored the industry’s untapped potential.

“Kenya’s leather industry holds immense potential. With the right government policies and financial support from Equity, Kenya can unlock this potential, creating jobs and generating wealth for the country.” she remarked.