Equity, Standard in loan pact for vendor

Standard Group CEO Orlando Lyomu(Left) and Polycarp Igathe(Right) Managing Director Equity Bank,Standard Group and Equity Bank signed a partnership agreement that will enable the media house to leverage on the bank's innovative financial solutions and agency network to boost the newspaper sales and distribution operations of the Group. [Wilberforce Okwiri, Standard]

The Standard Media Group and Equity Bank have signed a partnership deal that will see the former’s 3,500 newspaper vendors given loans to ease their cash flows.

The loans will be extended via Equity’s mobile virtual network, Equitel, helping the vendors to increase their stock and deepen the bank’s lending to small and medium-sized enterprises (SME).