Equity Bank will support institutions of learning in migrating to clean energy to curb use of firewood for fuel, in an effort to preserve trees.
Equity Bank Kakamega Branch Manager Peter Akuoyo revealed that the bank was concerned over the rate at which trees are being felled to obtain firewood for use by institutions of learning.
Akuoyo said during a tree planting exercise in Kakamega, that the bank will link schools to service providers to shift to clean energy.
He said the bank is ready to provide finances to schools with inadequate funds to shift to alternative sources of fuel.
“And should there be need for finances, we are willing to do that, we have obtained consent from the government and any school with insufficient funds is welcome for financing,” he noted.
He says options exist of using gas or solar to provide energy among other options that do not involve use of firewood.
“As equity Bank we are also coming up with solutions so that these trees that we are planting are not cut down after some time. Majority institutions use trees as source of firewood,” he noted.
He said, if most schools use alternative sources of fuel, efforts to achieve the national government’s target of 10 per cent tree cover, where the equity bank is taking part, will be achieved.
Equity bank, according to Akuoyo, is committed to plant 1 million trees every year, with a target to plant 35 million trees by 2054 across the country.
“In 2019, Equity Bank celebrated its 35 years of existence and made a commitment to plant 1 million trees for every year it existed,” Mr. Akuoyo disclosed.
He said they target institutions of learning which have space among other institutions where trees which are planted will be protected.
“We are targeting schools where there are high chances of tree survival, so that we ensure we achieve 100 per cent growth. We don’t want a scenario where we plant trees, then a few years later, they dry up,” he pointed out.
He was speaking after leading a tree planting exercise at Luanda, Ingotse and Chebuyusi High Schools and at Shamberere Technical Training Institute, where they planted 13,000 trees.
By Cynthia Momanyi