Nairobi, 1st December 2020… Equity has scooped two awards at this year’s African Banker Awards 2020. The Bank has been awarded the Best Regional Bank in East Africa, and for the second year running, the Africa Socially Responsible Bank of the Year.
Equity emerged as the Best Regional Bank in East Africa, having demonstrated high performance across various metrics, both qualitative and quantitative. According to the African Banker judging panel, the Bank excelled in terms of reaching out to new customers, offering new services, adopting inclusiveness by reaching out to the unbanked, adoption of new technologies and for its contribution to a stronger financial sector across the region.
Speaking while receiving the award during the virtual ceremony, Equity Group Managing Director and CEO, Dr. James Mwangi stated: “We are glad that Equity has won this award. We appreciate the recognition that our operations in the 6 East and Central African countries we operate in have been standardised to reflect the One Equity brand providing inclusive financial services and we are not just a Kenyan bank, but a regional bank.”
During this COVID-19 period, the Bank exhibited initiative and support for its customers’ economic plight by providing an option for customers to re-negotiate existing facilities for up to 4 years. Equity further eliminated charges on all mobile banking transactions including all Equity-to-Equity mobile bank transfers, bank to mobile wallet transfers, mobile wallet to bank transfers, and mobile payments for bills, utilities, shopping, fuel, etc. to encourage cashless transactions.
Similarly, the Bank also won the African Banker Awards category for the Africa Socially Responsible Bank of the Year for the second time in a row. The panel of judges sought for concrete examples of projects and initiatives within the institutions that have had a sustainable impact on the communities they are geared towards. Identifying organisations that go beyond the philanthropic use of funds to use their overall knowledge, resources and reputation to improve the lives of the less advantaged in society. The Group through its subsidiary, Equity Group Foundation (EGF), has identified seven thematic areas to focus on that include; Education & Leadership Development, Food & Agriculture, Health, Enterprise Development & Financial Education, Social Protection, Energy & Environment, and Innovation. EGF has to date mobilized over KSh 44.7 billion (USD 447 million) to support these initiatives.
“Our purpose is to transform lives, giving dignity and expanding opportunities for wealth creation. We have combined financial services and doing good, social impact investments, in our business model for the betterment of our communities and we are glad that our work and the impact is being recognized,” added Dr Mwangi.
Under the health pillar, EGF mobilised Kshs1.1 billion (USD11 million) for the purchase of PPE for frontline medical personnel dealing with COVID-19 patients in public hospitals in Kenya. In Rwanda, Equity contributed testing kits worth Rwf1 billion (USD 1.06 Million) to the government of Rwanda. In Uganda, a contribution of 2 brand new Toyota double cabin pickup trucks valued at about UGX 400 Million (USD 131,500) and Personal Protective Equipment (PPE) worth UGX 100 Million (USD 26,500). This contribution was in addition to UGX 25 Million (USD 6,625) the Bank had already made under the Uganda Bankers Association. Equity Bank Congo also donated equipment valued at Congolese Franc 1.9 billion (USD 1 Million) to the National Coronavirus Solidarity Fund (FNSCC). Additionally, Equity Afia doctors, who are alumni of the Equity Leaders Program under EGF with a growing network of 30 Equity Afia medical centres in Kenya, have complemented the Government of Kenya efforts towards the fight against COVID-19 with training of staff and customers through materials. Since inception, the Equity Afia clinics have treated over 200,000 patients.
In Education, EGF in partnership with Mastercard Foundation committed USD 1.93M to ensure Wings to Fly and Elimu secondary school scholars continue their education during the school closure period. The 13,800 beneficiary students received a solar-powered radio with a mobile phonecharging unit and a lamp to enable them access broadcast education programmes as well as online teaching during the pandemic. Further, 14,600 students who include the secondary and TVET scholars received between KES3,000 and KES4,000 monthly stipend for food and other essential needs. To drive financial inclusion through a shared prosperity model, over 2.1 million women and youth have been trained in financial education while over 109,625 MSMEs have been trained in Entrepreneurship. Under the Young Africa Works Program, KES44.2B has been disbursed to 122,330 MSMEs. Other initiatives include, 638,522 peasant farmers transformed to Agribusiness, 39,521 Small and Medium-Sized farmers supported, 1.38 Million trees planted, and 218,581 clean energy products distributed.
The African Banker Awards is a prestigious continental recognition awards ceremony that recognizes reforms, rapid modernisation, consolidation, integration and expansion of Africa’s banking and financial system. Recognising the personalities and banks that are driving Africa’s rapidly transforming financial sector, the African Banker Awards bring together industry leaders from Africa and the worldThey celebrate the achievements of those who are driving growth and development and creating new economic opportunities for citizens and communities all over the continent and inspire new generations of bankers who are shaping Africa’s future.
About Equity Bank
Equity Bank Kenya is the largest bank subsidiary of Equity Group Holdings Plc with a footprint of 190 branches, spread across the country and is supported by over 39,464 agents, 21,138 merchants and 398 ATMs. Equity Group Holdings Plc is a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. In addition to Equity Bank Kenya, the Group has banking subsidiaries in, Rwanda, Uganda, South Sudan, Tanzania, DRC, and a Commercial Representative Office in Ethiopia; with additional non-banking subsidiaries engaged in the provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services.
Equity Group has an asset base of USD 9.3 billion. With over 14.2 million customers, the Group is one of the biggest banks by customer base in the region. The Group has a footprint of 335 branches, 52,742 Agents and 35,386 Merchants and 720 ATMs. The Group is the largest bank in market capitalization in East and Central Africa. The Banker Top 1000 World Banks 2020 ranked Equity Bank 754 overall in its global ranking, 62nd in soundness (Capital Assets to Assets ratio), 55th in terms of Profits on Capital and 20th on Return on Assets. In the same year, Moody’s gave the Bank a global rating of B2 with a negative outlook same as the sovereign rating of the Kenyan government due to the Bank’s strong brand recognition, solid liquidity buffers and resilient funding profile, established domestic franchise and extensive adoption of digital and alternative distribution channels. Equity Group Holdings Plc is regulated by the Central Bank of Kenya.
Equity has been ranked as the 2nd topmost valuable brand in Kenya, according to Brand Finance, an...View More
Nairobi 25th November 2020… Equity has announced the appointment of Samuel Onyango as a...View More
For the third consecutive year, Equity has won the 2020 SME Bank of the year - Africa Award at the...View More
The second consignment of PPEs for public hospitals is valued at Ksh 125M with an additional...View More
Prof. Waema brings on board his extensive ICT experience that spans over 30 years in both private...View More
Equity, with a balance sheet size worth Kshs. 673.7 billion at the end of 2019, has been listed at...View More
The Kenya National Chamber of Commerce and Industry (KNCCI) and...View More
MSE Associations under MSEA will benefit from financial empowerment, advisory services and...View More
Equity Supports MSMEs With USD $100 Million Partnership with Proparco (Agence Française de...View More
Nairobi, Kenya: September 9, 2020 – Dr. James Mwangi, Group Managing Director and CEO of Equity...View More
92 Equity Leadership Program (ELP) Scholars Receive Admission to 43 Global UniversitiesView More
Equity Bank (Kenya) Ltd Board has appointed Ambassador Erastus Mwencha, as the Chairman, taking over...View More
The 0763 000 000 number will become the single line of contact from Equity to customers thus...View More
The Kenya Covid-19 Fund Board, in partnership with Equity Group Foundation (EGF) have completed...View More
Equity has signed a Memorandum of Understanding with Crown Healthcare to enable SMEs in the...View More
Nairobi, 28th July 2020… Equity has scooped three top awards at this year’s Euromoney Awards...View More
The loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing,...View More
The Kenya COVID-19 Fund Board, in partnership with Kenya Association of Manufacturers (KAM)...View More
Frontline public healthcare staff dealing with COVID-19 patients will receive training on case...View More
Equity Group has triggered a Business Continuity Plan (BCP) to protect its customers, staff and...View More
Equity Group Foundation (EGF), with support from the Mastercard Foundation, today announced a...View More
Temporary Change of Business Operating HoursView More
As Equity, we continue to comply and take precautionary measures for our customers and staff...View More
Click below to read the Corona Virus Fact SheetView More
Now, more than ever, we invite you to make Banking something you do, not somewhere you go!View More
Replicates and scales the successful Wings to Fly scholarship model by targeting 18,000...View More
Equity Group has today commissioned the 2020 cohort of Wings to Fly scholars at a ceremony held...View More
Equity Bank Triple Win at International Banking Awards.View More
Fifty six Equity Leaders Program (ELP) scholars have been admitted to various top tier...View More
Equity Bank Kenya enters into partnership with AGCO through Local Dealer FMD East Africa.View More
Equitel’s Mobile commerce payments continue to drive growth for the operator.View More
Equity taps World Bank Expatriate as it gears up for Pan African expansion and accelerated...View More
Equity Bank Kenya, a subsidiary of Equity Group Holdings Plc today announced the appointment of...View More
Equity Bank Kenya and Toyota Kenya Limited have today signed a partnership agreement that will...View More
Equity Group Holdings PLC (NSE: EQTY) and Safaricom PLC (NSE: SCOM) have today announced plans to...View More
This year, Equity Group received nearly 20,000 applications from all counties across the country...View More
Thirteen Wings to Fly beneficiaries were among the students who scored straight A’s in the...View More
Christmas carols have been around for years and set the stage for celebrating the birth of...View More
Equity will deploy its banking infrastructure as well as the Equity Group Foundation platform to...View More
Investment groups, chamas and joint account holders can now withdraw cash from their Equity Bank...View More