Kigali, 30th August 2021: Equity Bank Rwanda Plc has announced the appointment of Col (Rtd). Eugene Haguma as the Non – Executive Chairman to its Board taking over from Mrs. Evelyn Rutagwenda. Mrs Rutagwenda retired through rotation having served on the board for nine years, four of which she served as Chairperson. She will continue to serve on the Equity Group Holdings Plc Board as Vice Chairperson.

Col (Rtd). Haguma brings on board a wealth of leadership experience, having previously served in senior leadership positions in both the private and public sectors. He has previously served as the Permanent Secretary Ministry of Defence in Rwanda, Defence Attaché to the Republic of South Africa and CEO of Horizon Group Rwanda. Col (Rtd). Haguma is currently serving as an independent consultant.

Speaking while welcoming him to the Board as Chairman , Equity Group Managing Director and CEO Dr. James Mwangi said, “We are delighted to bring on board Col (Rtd). Haguma as the new Non- Executive Chairman of the Board of Equity Bank Rwanda Plc. The experience and expertise he has gained over the years while working in multi-national environments will play a key role in overseeing the implementation of strategy hence strengthening our regional operations and presence.”

The Board thanked Mrs Rutagwenda for her leadership. “In a special way, I would like to register sincere gratitude to Mrs. Rutagwenda for her dedication and outstanding service as Chairperson on the Board of Equity Bank Rwanda Plc. During her tenure, the Bank registered impressive growth on all parameters,”said Dr. Mwangi.

Speaking while welcoming Col (Rtd). Haguma, the Equity Group Vice Chairperson said, “ As a Group, we are delighted to have Col (Rtd). Eugene Haguma as the new Board Chair for our Rwanda subsidiary. His experience and networks will see the Group grow its footprint further within Rwanda allowing Equity to continue transforming lives and livelihoods, giving dignity and expanding opportunities for wealth creation.” said Mrs Rutagwenda.

Commenting on the Board appointment, Col (Rtd). Haguma said, “I am honoured to serve as Board Chair in Equity Bank Rwanda Plc and priviledged to work with a talented and experienced management team, that has distinguished itself for passion to the fulfillment of the Bank’s purpose. A team that has seen Equity Bank become a significant player and one of Rwanda’s fastest growing banks with total assets of RFW 388.6B, a gross loan book of RFW 215.2B , total deposits of RFW 281B and reaching over 750,000 customers.”

Col (Rtd). Eugene Haguma holds an MSc. in Financial Management from the University of London and a B.Com (Marketing) degree from Makerere University-Kampala. He is a Chartered Financial Analyst (CFA) charter holder and is a Certified Sustainable Investment Professional from John Molson Business School Concordia University, Canada.

About Equity Bank Rwanda
Equity Bank Rwanda began its operations in 2011 and is registered as a commercial bank by the National Bank of Rwanda. The Bank has its Head Office located in Kigali, with a footprint of 15 branches and is supported by 1,905 agents, 3,142 merchants and a network of 24 ATMs.

Equity Bank Rwanda is a subsidiary of Equity Group Holdings Plc, a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange.

Equity Group is the largest bank in the region with assets of USD 11.2 billion. It is also the biggest bank in deposits, market capitalization of USD 2billion and with a customer base of over 15 million customers. The Group has a footprint of 337 branches, 56,772 Agents, 32,269 Merchants, 697 ATMs and an extensive adoption of digital banking channel.

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.