FEATURED: Equity Group, DEG launch German Desk to boost East African trade

Equity Group Holdings Plc and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German Development Finance Institution, have unveiled the German Desk, an initiative aimed at fostering Africa-German business relations and accelerating East African trade. The German Desk will serve as a comprehensive platform for European small and medium-sized enterprises (SMEs) and their local partners in East Africa. Offering a suite of services, including trade facilitation, transaction banking, credit lines, and investment advisory, the desk seeks to streamline cross-border business operations. Additionally, it will assist local firms in acquiring German equipment and technology platforms, thereby driving growth and innovation. This partnership with DEG marks a significant milestone for Equity Group Holdings as we strengthen our international footprint and enable cross-border trade, said Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings. The German Desk provides a vital platform for German and European private sector players to access the vibrant East African market while supporting local businesses in their growth and development. The initiative aligns with Equity Group’s Global Partners Program and Africa Recovery and Resilience Plan, aiming to leverage private sector partnerships to build robust people-to-people and business-to-business relationships. Supporting German businesses in Africa is a long-term strategic focus for DEG. We are delighted to partner with Equity Bank Kenya for the German Desk Kenya, said Petra Kotte, Senior Director for Infrastructure, Energy, and German Business at DEG. This collaboration strengthens economic ties between Germany and East Africa, empowering businesses with tailored financial solutions and cross-border partnerships. Germany is a key European trading partner for Kenya, with significant exchanges in automotive, machinery, and chemicals sectors. The German Desk aims to enhance these trade volumes by providing localized financial services and business matchmaking. The German Desk’s launch underscores the growing economic partnership between Germany and Kenya, remarked Sebastian Groth, German Ambassador to Kenya. It will not only benefit German enterprises but also contribute to socio-economic development in Kenya and the broader East African region. The desk, based in Nairobi, will support businesses across Kenya, Tanzania, Uganda, Rwanda, South Sudan, and Ethiopia. Staffed by bilingual professionals with deep cultural knowledge, it will cater to the unique needs of German firms and their local partners, fostering seamless collaboration. The initiative is part of the Africa Business Network (“Wirtschaftsnetzwerk Afrika”), supported by Germany's Federal Ministry for Economic Affairs and Climate Action (BMWK). EU Ambassador to Kenya, Henriette Geiger, emphasized the role of SMEs in driving economic success. This partnership demonstrates the immense potential of Kenyan and East African SMEs to propel prosperity, she said, citing the broader impact of the EU-Kenya Economic Partnership Agreement. The launch event, held at the German Ambassador’s residence in Nairobi, brought together business leaders, diplomats, and development partners. Attendees underscored the importance of the German Desk in promoting trade and fostering sustainable economic growth across the region. Equity Group and DEG’s German Desk initiative represents a pivotal step toward creating a more interconnected, prosperous East African economy while strengthening Africa-German trade and investment ties.

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FEATURED: Equity Group, DEG launch German Desk to boost East African trade