The new logo now features “Equity” without an entity name such as Bank to signify a one-stop-shop and a consolidated business model for its inclusive range of financial services.
Dar es Salaam, Tanzania 21st December, 2020… Equity Tanzania has today unveiled a refreshed identity in line with Equity Group Holdings ongoing journey of transformation. The new identity is aimed at creating a sustainable growth path and service delivery in today’s rapidly changing financial services environment.
Going forward, Equity Tanzania will present itself as a unified brand, with one basket of products and services under one roof. From an identity perspective, the new logo now features “Equity” without an entity name such as Bank to signify a one-stop-shop and a consolidated business model for its inclusive range of financial services.
Commenting on the launch of the new identity, Equity Managing Director Equity Tanzania, Robert Kiboti said that the new look comes with the promise of enhanced relationship management, empowerment of consumers, businesses and enterprises.
“Our new look assures the empowerment of individuals expanding their opportunities to create wealth. We will roll out the refreshed look in all our physical outlets and digital banking platforms, social media assets, websites, mobile applications, mobile banking platform, business online banking and ATM screens. From today, you will see the new look signage in all our branches, as part of our transformation program,” Kiboti said.
He further committed to offering seamless customer experience as the bank looks to grow its customer base. “We shall continue to roll-out innovative financial solutions that are geared towards broadening financial access and deepenening financial inclusion. We are enhancing adoption of mobile banking and taking banking services to the last mile through our Equity Wakala. Our shared prosperity model has also ensured our Wakala earn an extra revenue stream and create employment opportunities in the rural and urban areas. We promise to continue innovating and being relevant to the changing needs of our customers in pursuit of realising their goals and dreams,” added Kiboti.
Equity Group Holdings Plc CEO and Managing Director Dr. James Mwangi noted, “The operating environment has changed, with the most dramatic shift being customers changing needs and aspirations in line with changing lifestyle brought about by technological advancements. Additionally, the market demographics are embracing youth-targeted products and services and becoming more mobile and digital. As a result, customers are increasingly showing preference for self-service banking, making banking something you do, and not somewhere you go. As a result, Equity will continue to innovate and disrupt its offerings to meet the current and future needs of customers.”
“The refreshed brand identity reflects the future we envision, one which communicates our global capability, strong heritage, innovative culture and agile business model that will carry and give the brand momentum to scale its strengths across Africa and the world,” Dr Mwangi added.
Equity maintains that the fresh identity matches the new realities, business model, customer segments and preferences and the evolving digital space; enabling it to focus on key areas that will see it remain relevant to the diverse and current consumer needs. This, it adds, will be achieved through spurring economic growth by empowering consumers; businesses and enterprises through innovative solutions, infusing digital capabilities at all touchpoints while nurturing existing and building new relationships.
The most significant shift in direction of the brand is the introduction of a unified brand under ONE Equity. From a logo and identity perspective, the logo features “Equity” without entity name such as Bank, Insurance, Investment Bank and so on. Going forward, Equity will now present itself to the world as one unified brand, with one basket of products and services under one roof ranging from banking, insurance and investment from a service delivery perspective.
The bank will continue investing and working for the great causes in the country such as financial literacy and access, entrepreneurship, agriculture, innovations and environment.
The roll-out of the new identity by Equity Group Holdings started in Kenya. Subsequently, Equity South Sudan, Equity Uganda and Equity Tanzania have rolled out and more subsidiaries are expected to launch soon.
About Equity Bank Tanzania
Equity Bank Tanzania began its operations in February 2012 and is regulated by the Bank of Tanzania (BOT). The Bank is also a member of the Tanzania Institute of Bankers. The Bank has its Head Office located in Dar, with a foot-print of 14 branches and is supported by 3,634 Equity Wakala, 4,410 merchants and a network of 21 ATMs.
Equity Bank Tanzania 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. In addition to Equity Bank Tanzania, the Group has banking subsidiaries in, Kenya, South Sudan, Rwanda, Uganda, 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.
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