The global refugee crisis demands innovative solutions, and the private sector has a crucial role to play. This was the central message at the High-Level Regional Workshop on Enhancing Private Sector Investment for Economic Empowerment of Forcibly Displaced and Host Communities, hosted in Nairobi by the African Development Bank, UNHCR, IGAD, and EAC. Equity Group, a key player in driving financial inclusion across East and Central Africa, shared its impactful work in empowering forcibly displaced persons (FDPs).
With over 103 million people forcibly displaced worldwide, the challenge is immense. The majority find refuge in low- and middle-income countries, facing significant hurdles in rebuilding their lives. Beyond the immediate struggle for safety, refugees encounter barriers to employment, entrepreneurship, and access to essential financial services. This precarious situation limits their ability to achieve self-reliance and contribute to their host communities.
Financial inclusion: A lifeline for forcibly displaced persons
Saralyn Wairimu, Associate Director for Social Protection at Equity Group Foundation (EGF), highlighted Equity’s commitment to providing innovative financial solutions for FDPs and their host communities. “Equity is fostering integration and cohesion of refugees through a regional program funded by the International Finance Corporation(IFC),” Wairimu explained. “This initiative, implemented in collaboration with UNHCR, underscores the importance of collaborative efforts to address this complex crisis.”
