Equity Bank
About Equity Bank
Equity Bank was founded in 1984 as Equity Building Society in Kenya, initially targeting low income earners who could not access mainstream banking. Under CEO James Mwangi from 2004, Equity Bank pioneered mobile banking in Kenya. The bank partnered with M Pesa to provide banking services to millions of unbanked Kenyans. Equity Bank expanded to Uganda, Tanzania, Rwanda, and DRC. The bank has over 15 million customers. Equity Bank won numerous awards for financial inclusion. The bank pioneered agency banking, using local shops as banking agents. This model has been copied across Africa. Equity Bank demonstrated that serving lower income customers profitably was possible through technology and innovative distribution.
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