The 2024 Watu sustainability report is out, spotlighting major milestones by the company in terms of clean mobiility, financial inclusion and gender equality across Africa.
The report which is expanding on the 2023 report outlines Environmental, Social, and Governance (ESG) initiatives that demonstrate Watu’s sustained focus on transparency and accountability in its operations. It captures major achievements, ongoing progress, existing challenges, and commitments for the future.
Here are some quick highligts of the very detailed report which is accessible on this link.
- Financed over 2,000 electric vehicles in 2024, supported by a growing battery-swapping network in major markets
- Provided more than 80,000 income-generating assets, including motorcycles and tuk-tuks
- Distributed 1.4 million smartphones, connecting underserved communities to digital financial services and e-commerce
- Reached and impacted over 8 million people through these initiatives
“This is our second sustainability report, reflecting how sustainability is not separate from growth but at the heart of how we deliver impact responsibly. Through this, we remain committed to financing underserved communities with income-generating assets, advancing digital financial inclusion, and fostering e-commerce,” said Andris Kaneps, CEO of Watu.
Read also – Watu Reaches Milestone: One Million Mobile Devices Sold in Kenya
In enhanced gender inclusive efforts, women now represent 38% of Watu’s customers, and they also hold at least one in three management positions. Across all markets, female employment surpassed the 43% target, reflecting real progress in gender inclusion and leadership.
There has also been an enhancement in safety and training excellence, which includes training over 20,000 riders and staff in road safety across Kenya, Uganda, and Tanzania, alongside targeted outreach in schools, workplaces, and communities. These initiatives contributed to measurable reductions in accident rates among Watu clients.
“Our initiatives have also directly empowered our staff, who remain our number one champions. Since 2023, we have tripled the average training hours per employee, strengthening talent development across the organization. We have further demonstrated our commitment to transparency and credibility by securing Bronze-level Client Protection Certification from MicroFinanza Rating (MFR) in Kenya, Uganda, and most recently, Tanzania. This achievement makes Watu one of the first institutions in the region to adopt these global standards for responsible financing” added Andris Kaneps.
The report highlights five key milestones, which include ESG Integration and Strategic Milestones, Environmental Impact, Social Impact and Inclusion, Operational Excellence and Governance, and Economic Contribution.
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