Equity Group signs two-year loans deal AVIC-ENG
Kenya’s Equity Group has signed a credit line deal with China National Aero-Technology International Engineering Corporation (AVIC-ENG).
The two-year-long deal will see AVIC-ENG have a credit line in Kenya, Uganda, Rwanda, South Sudan, the Democratic Republic of Congo, and Tanzania.
The deal “signals the confidence and trust in the country, long-term sustainability and strengthens the bilateral relationship between Kenya and China” claims James Mwangi, CEO of Equity Group.
“Our backing and support is because of their track record. Their projects speak for themselves.”
“We recognise the great potential to join forces and leverage synergies for the financial service partnership.”
AVIC-ENG entered the Kenyan market 15 years ago, launching in the building construction industry.
Since it’s launch, the firm has committed itself to expanding investments on the continent.
“Every year we work on about 15 projects in Kenya worth Sh20 billion and have been able to create employment opportunities for Kenyans,” commented
“Because of Equity Bank’s presence in East and Central Africa, we have opportunities to collaborate in the wider African market.”