Watu has released its 2024 Sustainability Report, detailing progress on financial inclusion, clean mobility, and gender equality across Africa.
The following report is the company’s inaugural 2023 edition and discusses milestones, challenges, and future commitments under its Environmental, Social, and Governance (ESG) agenda.
The report showcases Watu’s dedication to placing sustainability at the core of its business while remaining transparent and accountable.
Among the banner achievements was the financing of more than 2,000 electric vehicles in 2024, made possible by an expanding network of battery-swapping stations in key markets.
The company also financed more than 80,000 income-generating assets such as motorcycles and tuk-tuks, and 1.4 million smartphones that connected underserved communities to digital financial services and e-commerce. Together, these programs reached an estimated 8 million people.
This is our second sustainability report, showing how sustainability is not separate from growth but at the center of how we deliver impact responsibly,” Watu CEO Andris Kaneps commented. “We remain committed to funding underserved communities with income-generating assets, advancing digital financial inclusion, and building e-commerce.
On gender inclusion, the report notes that women now make up 38% of Watu’s clients. Women also hold at least one in three leadership roles, with female staff employment across all markets above the company’s 43% target a sign of progress on inclusion and leadership.
Watu also expanded its safety and training programs. More than 20,000 riders and staff in Kenya, Uganda, and Tanzania were trained in road safety, with additional outreach to schools, workplaces, and communities.
It credits these programs with reducing accident rates among its clients.
Staff development was also prioritized, with the average staff training hours rising three times since 2023.
Governance credentials were also upgraded with the firm attaining Bronze-level Client Protection Certification from MicroFinanza Rating (MFR) in Kenya, Uganda, and more recently Tanzania one of the first institutions in the region to adopt such global standards.
The 2024 report has five key pillars: ESG integration and milestones, environmental footprint, social footprint and inclusion, operational excellence and governance, and economic contribution.
