Equity Group has been feted by the International Finance Corporation (IFC) and the Global SME Finance Awards 2022 as the platinum winner for the Best Financier for Women Entrepreneurs.
The Group was also named the silver winner for SME Financier of the Year- Africa and received special honorary mention under the Product Innovation of the Year category.
Organized by IFC, a member of the World Bank Group, and the SME Finance Forum and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards which were held in Cambodia celebrated the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.
While highlighting Equity’s entry for the Best Financier for Women Entrepreneurs award category, the judging panel recognized Equity Group’s business growth noting that this was higher than average for women-led SMEs while risk metrics (NPL) were about half the average. The judging panel also described Equity Group as an excellent role model to smaller, newer banks.
The lender who has a strong regional presence in East and Central Africa has innovated its financial solutions to meet the needs of individual women, women in groups and women-led SMEs enabling them to enhance their growth and wealth creation. Through the Fanikisha range of tailor-made solutions, women have been included financially enabling them to access affordable loans from as low as Ksh 1,000. Fanikisha was launched in 2007 in partnership with UNDP and participation of ILO and UNIDO to promote and increase women in business and investment. Over the years, Equity has successfully employed a credit-scoring graduation model for both individuals and women in groups running sole proprietorships, micro-businesses and SMEs and has encouraged women to leverage on their social capital and group savings to access financing for their individual and group projects. To date, a total of Kes 339.2 billion has been disbursed to women impacting 8.3 million of them.
Additionally, other services extended free of charge to women entrepreneurs through Equity Group Foundation include financial education training, business advisory services and mentorship and coaching. To date a total of 2.4 million women and youth have so far benefitted from this 13-week financial literacy and entrepreneurship training.
To further support women and youth entrepreneurs, Equity Group Foundation in partnership with Mastercard Foundation and Equity Group is currently implementing the Young Africa Work Kenya (YAW-K) Program. The Program aims at generating 810,000 jobs through micro, small and medium enterprises (MSMEs) across all sectors of the economy over a 5-year period which comes to an end in 2024. The Young Africa Works Program was established with the primary objectives of stimulating job creation and economic growth by providing youth and women MSME entrepreneurs with advice, mentorship, entrepreneurship training and access to financial and business development services. The Program further seeks to build financial capability and greater financial access to low-income youth by linking them to access appropriate financial services, products and expert financial literacy training.
To date, the Young Africa Works Program has supported over 500,000 MSMEs through capacity building and extending access to Kes 200 billion in loans which has seen the MSMEs create and preserve over 1.26 million jobs. The success of the Program in Kenya has led to the scale up of the same into the greater East and Central Africa region to support realization of 25 million jobs under the Africa Recovery and Resilience Plan.
The judging panel while issuing the SME Financier of the Year-Africa award further applauded the Group for its wide range of financial solutions including digital banking and trade finance products that are readily available and efficiently delivered for SMEs through a dedicated business banking unit.
Speaking at the award ceremony, Matthew Gamser, CEO of the SME Finance Forum said, “This year has seen the largest field of applicants ever, as we expand to a fifth award category in the important area of greening SME financing. We have more countries, with more financial products and approaches than ever before. It was a tall order for the almost 100 judges, whom we thank profusely for their expert, informed and unbiased judgment about who merited recognition.”
Also commenting on the awards, Dr. James Mwangi, Equity Group Managing Director and CEO said, “The recognition by the IFC and the Global SME Finance Awards is timely and is truly humbling. Equity Group remains committed in its efforts to champion the building back better post the COVID-19 pandemic. We have rolled out a private sector focused stimulus package to accelerate the recovery and resilience of the region through a KES 700 billion funding dubbed ‘Africa Recovery and Resilience Plan’. We intend to reach 5 million MSMEs and 25 million individual borrowers over the next 5 years including women and youth owned businesses.”
Equity Group with 72% of its loan book in SME sector uniquely demonstrated its commitment to the MSME sector when COVID-19 struck by restructuring 45% of its loan book for periods of up to 3 years. The Group also continued with 27% loan book growth for two consecutive years to allow the sector to mitigate, adapt, repurpose, survive, thrive and keep the lights and the lifeline of the economy on.
The recognition by the IFC and the Global SME Finance Awards adds to the global accolades Equity has bagged this year including the 5th Strongest Banking Global Brand and position one in Sub-Saharan Africa in the world’s top 500 most valuable banking brands as per the Brand Finance, Banking 500 2022 rankings.
![Canon’s RF/EF lens production exceeds 170 million units, extending its world record in interchangeable lens production Both EF and RF lenses have gained strong support from a wide range of users—from beginners to professionals—leading to steady growth in production volume Canon Inc. announced that, in October 2025, Canon reached a historic milestone of producing a cumulative total of 170 million RF and EF interchangeable lenses for its EOS series, extending its world record for the highest number of interchangeable camera lenses ever produced. The EF lens was introduced in 1987 as the dedicated lens system for Canon’s EOS autofocus single-lens reflex film camera, debuting simultaneously with the EOS system itself. Since their inception, EF lenses have led the industry by incorporating a series of world-first technologies, including the Ultrasonic Motor (USM), Image Stabilizer (IS) technology, and a multilayered Diffractive Optical (DO) element, and have undergone numerous evolutions. In 2018, Canon launched the RF lens series, designed for the EOS R mirrorless camera system, which features a large aperture, short back focus, and high-speed communication system to deliver even higher image quality. The RF and EF lens series lineup now includes a total of 108 models , covering a wide range of focal lengths from ultra-wide 10mm to super-telephoto 1200mm. The series also includes the world’s first VR lens lenses with built-in power zoom suited for video shooting, and even those compatible with power zoom adapters—expanding the scope of creative expression and meeting the diverse needs of users for both still photography and video. EF lens production began at Canon’s Utsunomiya Plant in 1987. Since then, both EF and RF lenses have gained strong support from a wide range of users—from beginners to professionals—leading to steady growth in production volume. Today, Canon manufactures lenses at five sites: Utsunomiya Plant; Canon Inc., Taiwan; Canon Opto (Malaysia) Sdn. Bhd.; Oita Canon Inc.; and Miyazaki Canon Inc. Milestones include 10 million units produced by 1995 and 50 million by 2009. Then in 2014, Canon became the first company in the world to reach 100 million interchangeable camera lenses produced. In October 2025, the company reached 170 million units, leading to the achievement of this world record. The 170 millionth lens produced was the RF 70-200mm F2.8 L IS USM Z. Canon has maintained the No.1 global market share for digital interchangeable-lens cameras for 22 consecutive years since 2003. Moving forward, Canon will continue to refine its proprietary imaging technologies and further strengthen and expand its lens lineup, pioneering new imaging possibilities and contributing to the continued evolution of photographic and video culture. Highlights in the development of the RF/EF Lens Series The EF lens, which was introduced alongside EOS in March 1987, has adopted a variety of world-first technologies, including Image Stabilizer (IS) technology, featured in the EF 75-300mm f/4-5.6 IS USM released in 1995; a multilayered Diffractive Optical (DO) element, used in the EF 400mm f/4 DO IS USM launched in 2001; and Subwavelength Structure Coating (SWC) [7], applied to the EF 24mm f/1.4L II USM released in 2008. In 2021, Canon launched the EOS VR System, a VR video system consisting of a mirrorless camera [8], dedicated lens, and PC software, thereby creating a 3D 180° VR video through an interchangeable lens camera. In 2024, Canon began rolling out a new series of hybrid lenses equipped with iris rings, designed to meet the needs of both still photography and professional video production. For zoom lenses, the company has also launched RF 24-105mm F2.8 L IS USM Z and RF 70-200mm F2.8 L IS USM Z which are compatible with power zoom adapters. For single focus lenses, the company released F1.4 L hybrid prime lens series that unified the size and ring and button position across models. In September 2025, Canon launched RF 85mm F1.4 L VCM, the fifth model in this series, demonstrating that it can meet demands in line with the changing times. [1] Includes EF, EF-S, EF-M, EF Cinema, RF, RF-S, and RF Cinema lenses and extenders. As of October 21, 2025 (according to a survey by Canon) [2] Among SLR cameras (according to a survey by Canon) [3] Number of products sold as of October 22, 2025 (including extenders). The number of lens models for sale is different according to market figures. [4] Focal length is 5.2mm to 1200mm when including VR lenses [5] An interchangeable digital camera lens that enables VR footage with a single camera. Among interchangeable lens digital cameras released as of October 5, 2021 (according to a survey by Canon) [6] Refers to unit share (according to a survey by Canon) [7] A special coating with advanced anti-reflective properties [8] For applicable cameras, please visit the official Canon website *Release dates in this document refer to dates in Japan. Canon Central and North Africa (CCNA) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2016 was a strategic step that aimed to enhance Canon’s business within the Africa region - by strengthening Canon’s in-country presence and focus. CCNA also demonstrates Canon’s commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market. Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa’s rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa. Canon’s corporate philosophy is Kyosei – ‘living and working together for the common good’. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon’s products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.](https://businessinsights.africa/wp-content/uploads/2026/05/1.-Canon-EOS-R50-Mirrorless-Camera-for-Beginners-1024x764-1-100x70.jpg "Canon makes history with 170 Million lenses milestone")
