Equity Group Holdings Plc, in partnership with DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German Development Finance Institution, has launched the German Desk in Nairobi, a strategic initiative aimed at strengthening business ties between East Africa and Germany. The desk, a key element of Equity’s broader Africa Recovery and Resilience Plan, is expected to enhance trade links and foster economic growth in the region.
The German Desk is a part of Equity Group’s Global Partners Program, designed to connect European businesses, particularly small and medium-sized enterprises (SMEs), with the vibrant East African market. The initiative offers tailored financial solutions and comprehensive relationship management services to European entities looking to expand in East Africa. The services provided will include account opening, trade facilitation, transaction banking, and credit lines, making it easier for local businesses to access German technology, equipment, and expertise.
“Supporting German Businesses in Africa is a long-term strategic focus for DEG,” said Ms. Petra Kotte, Senior Director of Infrastructure, Energy, and German Business at DEG. “This partnership with Equity Bank marks a significant step forward in enhancing economic ties between Germany and East Africa. By offering customized financial services, we aim to empower businesses to capitalize on the dynamic opportunities in this market.”
The German Desk will support businesses in Kenya and neighboring countries, including Tanzania, Uganda, Rwanda, South Sudan, and Ethiopia. It will be staffed by bilingual professionals familiar with both German and East African business cultures, ensuring a smooth and effective collaboration. The partnership is positioned to help local enterprises leverage the latest German technology and expertise, enhancing productivity and growth.
Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings, emphasized the importance of the initiative for local businesses. “This partnership with DEG marks a significant milestone as we continue to expand our international presence and facilitate cross-border trade,” Dr. Mwangi stated. “The German Desk will serve as a gateway for European private sector investments in East Africa, supporting local businesses in their growth journey and contributing to the region’s economic development.”
Germany has long been one of Kenya’s key trading partners in Europe, with significant trade volumes in sectors such as automotive, machinery, and chemicals. The establishment of the German Desk is expected to further bolster these ties, offering enhanced financial services to support trade and investment between the two regions.
Sebastian Groth, the German Ambassador to Kenya, lauded the initiative as a testament to the strengthening economic relationship between the two countries. “The launch of the German Desk underscores the growing partnership between Germany and Kenya. This initiative will not only support German businesses but also contribute to the socio-economic development of the entire East African region,” Ambassador Groth noted.
The German Desk is part of the Africa Business Network, supported by the Federal Ministry for Economic Affairs and Climate Action (BMWK). The initiative aims to facilitate business linkages and provide investment support, enhancing the competitiveness of East African SMEs on the global stage.
The EU-Kenya Economic Partnership Agreement has been a driving force behind this collaboration, highlighting the immense potential of SMEs in both regions. EU Ambassador to Kenya, Henriette Geiger, emphasized the role of SMEs as a cornerstone of economic growth. “SMEs are the lifeblood of Europe’s economic success. This partnership between Equity and DEG, supported by the EU-Kenya Economic Partnership Agreement, demonstrates the vast potential of Kenyan and East African SMEs to drive prosperity,” she said.
The German Desk’s launch event, held at the German Ambassador’s residence in Nairobi, was attended by key stakeholders from the business, diplomatic, and development sectors, signaling strong support and anticipation for the initiative’s impact.
Equity Group’s broader strategy, encapsulated in its Africa Recovery and Resilience Plan, aims to position the continent as a major player in the global economy by fostering robust private sector partnerships. Dr. Mwangi articulated the vision, stating, “For decades, Africa has not fully benefited from the global economic order. To change this, we must establish partnerships that elevate Africa’s presence on the global stage. We see Germany and Europe as strong allies in this transformation effort.”
The launch of the German Desk is a significant step toward realizing this vision, providing a platform for enhanced business collaboration and long-term economic growth in East Africa. With the combined expertise of DEG, the German Chamber of Commerce and Industry (DIHK), and Equity Bank, the initiative is expected to streamline business processes and offer a pathway for European SMEs to access the burgeoning East African market.
The German Desk’s establishment marks a new chapter in Africa-German economic relations, one that promises to open up new avenues of trade, investment, and shared prosperity for businesses across both regions.