Nairobi, Kenya – Equity Group Holdings Plc and DEG, the German Development Finance Institution, have launched the German Desk, a comprehensive financial services platform designed to support European small and medium-sized enterprises (SMEs) and their local partners in East Africa.
The German Desk, located in Nairobi, will provide a range of services including account opening, trade facilitation and finance, transaction banking, credit lines, and investment financing. The platform aims to streamline business processes and accelerate growth for clients by leveraging the combined expertise of DEG, the German Chamber of Commerce and Industry, and Equity Bank.
According to Ms. Petra Kotte, Senior Director of Infrastructure, Energy, and German Business at DEG, “Supporting German businesses in Africa is a long-term strategic focus for DEG. This partnership with Equity Bank Kenya marks a significant step forward in strengthening economic ties between Germany and East Africa.”
The launch of the German Desk is part of Equity Group’s broader strategy to foster connections and partnerships with European markets, particularly Germany, under its Global Partners Program. Dr. James Mwangi, Equity Group Managing Director and CEO, noted that the partnership with DEG marks a significant milestone for the group as it continues to strengthen its international footprint and facilitate cross-border trade.
The German Desk is expected to further strengthen German-Kenyan trade relations, which have been steadily growing over the years. Germany is one of Kenya’s major trading partners in Europe, with significant trade volumes in sectors such as automotive, machinery, and chemicals.
Sebastian Groth, the German Ambassador to Kenya, hailed the launch of the German Desk as a testament to the growing economic partnership between Germany and Kenya. EU Ambassador to Kenya, Henriette Geiger, added that the partnership demonstrates the immense potential of Kenyan and East African SMEs to drive prosperity.
The German Desk will support clients and partners in Kenya, Tanzania, Uganda, Rwanda, South Sudan, and Ethiopia, and will be staffed by bilingual professionals with a deep understanding of both German and East African cultures.
The launch event was attended by key stakeholders from the business, diplomatic, and development communities, and is seen as a significant step forward in promoting economic cooperation between Germany and East Africa.
