Equity Bank enters Rwanda with promise of digital solutions

BUSINESS

-
Image: By Rwandan Presidency
Equity Bank enters Rwanda with promise of digital solutions

Equity Bank has officially launched in Rwanda, bringing a promise of technologically innovative solutions.

Rwandan President Paul Kagame met with a delegation from the Equity Bank Group led by Peter Munga, the Group Chairman who paid him a courtesy call to mark the bank’s official launch in the country.

Dr. James Mwangi, the Group Managing Director and CEO said after the meeting: “We came here to brief the President on the progress of Equity Bank since we opened our doors late last year. We have been able to open 30,000 accounts, opened 7 branches and we about to open three more. We intend to be a very technologically innovative bank, partnering with Saccos and cooperatives so as to take financial services to the rural areas. In urban centers we will focus on micro and small enterprises and at the same time looking at cooperates and long time investments.”

The Governor of the Central Bank, Claver Gatete, said: “Equity Bank is coming in to add value to Rwanda’s financial services by bringing in unique technology in the banking system whereby you combine the classical banking and technology to link up the bank and all stakeholders, regardless of where they are, using all available tools. Another thing is that Equity Bank lends across the board to big companies, SMEs and micro. With this kind of technology, there will no longer be need to handle cash, and this will mean more cash in the banks to lend out.”

Equity Bank Group has a total value base of USD2 billion and has branches in Uganda, South Sudan, Rwanda and Tanzania. Equity Bank is currently the 3rd largest company listed on the Nairobi Stock Exchange and is also cross listed on the Uganda Securities Exchange.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE BUSINESS NEWS

PwC investment to accelerate African growth opportunities

Suresh Kana PwC is increasing its investment in Africa and building closer links between PwC UK and PwC Africa, to meet increased demand for professional services as trade activity between the two regions grows. Read More

Kouros Capital Group announces multi-billion Nigerian investment plan

Arch. Amir H. Amiri, Executive Director, Kouros Capital Group and  Chief Etiebet of Dextel Kouros Capital Group Limited (KCG) has announced that it is making immediate arrangements to bring into Nigeria substantial investment funding, for projects in telecommunications, agriculture, banking, oil and gas and aviation sectors.   Read More

Samsung to open TV manufacturing plant in SA

Samsung Electronics South Africa announced its plan to open a television manufacturing plant in The Dube Trade Port, Durban by end of this year.  Read More

Econet rejects base station report

Econet Wireless has released a statement refuting recent media reports around its importation of base stations. Read More

Nigeria: potential to become major economic force

Acha Leke A new McKinsey report finds that Nigeria has the potential to expand its economy by roughly 7.1 percent per year through 2030. Read More

Call for pan-African contact centre association

Interactive Intelligence has called for the creation of a call centre association for Nigeria and other African countries as a way of promoting a standard for call centres. Read More

AMI, Strathmore launch free online courses for managers and entrepreneurs in Africa

Managers and entrepreneurs in Africa can now gain advanced skills for free, with the launch of free online courses courtesy of the African Management Initiative (AMI). Read More

Bytes, NCR and Barclays in ATM deal

Bytes Managed Solutions, the exclusive distributor of NCR technology solutions in Southern Africa had signed a deal with Barclays Bank of Botswana (BBB) for the installation of intelligent cash deposit ATMs. Read More

Orange reports 8% revenue growth

Integrated telecommunications service provider Orange has announced an 8% revenue growth for the overall business for the first half of this year, compared to the same period last year. Read More

Business Connexion appoints CEO

Business Connexion Group Limited has announced that Mr. Isaac Mophatlane has been appointed Chief Executive Officer of the company. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Widening ICT skills gap: Cause for concernWidening ICT skills gap: Cause for concern

Nigeria's FDI gains could be eroded by the widening gap in indigenous skilled ICT manpower, writes Kokumo Goodie.

IN DEPTH

Kenya rolls out e-extension to improve agricultureKenya rolls out e-extension to improve agriculture

In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.