African asset financing company Watu has announced its 2024 Sustainability Report, outlining the financial inclusion milestones achieved by the company, encompassing not only mobility initiatives but also the organisation’s overall contribution to gender equity across the African continent.
The report is a document that highlights Watu’s dedication to ESG principles, as well as providing detailed information on their actions in the line of duty. Watu has electrified the city with over 2,000 electric vehicles (EVs) financed in 2024, complemented by a fast-growing network of battery-swapping stations in major markets.
The corporation also closed financing deals of more than 80,000 income-generating assets, such as motorcycles and tuk-tuks, and distributed 1.4 million smartphones, allowing those who lack access to banking services or do not have a digital way of doing business to access financial services on the mobile platform and to trade on e-commerce platforms in the ICT sector.
Millions of people from eight African countries have benefited from this positive change in their lives.This is why Andris Kaneps, CEO of Watu, claimed that “Sustainability is at the heart of our growth strategy.”
“Our second sustainability report is reflecting how sustainability is not separate from growth but at the heart of how we deliver impact responsibly. Through this, we remain committed to financing underserved communities with income-generating assets, advancing digital financial inclusion, and fostering e-commerce,” said Kaneps
Watu has been successful in achieving more ground in the area of women’s empowerment; the number of females has risen to 38% of the entire customer base, while one in three management positions is held by women.
Moreover, female employment at the company went beyond the target of 43%, thereby signalling that huge strides have been made in gender inclusivity and leadership.
Not only that but the company has devoted itself to safety and has gone so far as to educate over 20,000 people who rode or worked in the transport sector about road safety in Kenya, Uganda, and Tanzania. Watu staff and client accidents have diminished because of community outreach initiatives in schools and workplaces.
Additionally, Watu has increased training hours for employees threefold compared to 2023 period, resulting in talent development of a higher quality being achieved.Watu’s pledge to finance in a responsible manner was honored with the Bronze-level Client Protection Certification awarded by MicroFinanza Rating (MFR) for Kenya, Uganda, and Tanzania, allowing the Watu Group to be one of the first African institutions to comply with these global standards.
The report highlights five key areas of achievement: ESG integration, environmental impact, social inclusion, operational excellence, and economic contribution.
Kaneps emphasized, “We take a lot of pride in our amazing staff. Since 2023, we have tripled the average training hours per employee, strengthening talent development across the organization. We have further demonstrated our commitment to transparency and credibility by securing Bronze-level Client Protection Certification from MicroFinanza Rating (MFR) in Kenya, Uganda, and most recently, Tanzania.