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

Building an African Dream: The Wyzetalk journey

Enterprise social networking company Wyzetalk examines the challenges and opportunities it encountered as a startup in Africa. Read More

African organisations under pressure to sharpen skills retention and employee engagement

Businesses across major African economies such as Kenya and Nigeria are coming under increasing pressure to align their strategies for retaining talent, compensating employees and engaging with their workforces with good international practices. Read More

The Workplace of the Future

Philip Gregory, Senior Regional Executive: Johnson Controls GWS, Middle East & Africa, talks about the workplace of the future, how it will impact the workforce and how businesses can navigate the tension between employee demands and the needs of the corporation. Read More

New MTN boss Ebenezer Asante starts work at MTN Ridge office

The former Chief Executive Officer for MTN Rwanda Ebenezer Asante has started work on Friday as the new CEO of Ghana’s leading network operator MTN at its plush Ridge Head quarters in Accra. Read More

Tigo Ghana CEO 2nd on Sweden’s list of 75 young and promising women

The CEO of Tigo Ghana limited, Roshi Motman, has been named as the second most young, promising and prominent female executive on Sweden’s tall list of 75 outstanding women.   Read More

Safaricom non-voice revenue, subscriber numbers show strong growth

Safaricom has reported a total revenue increase of 13% to Kshs 163.4bn, with non-voice service revenue increasing by 27% to Kshs 68.8bn.  Read More

She Leads Africa launches 2015 Entrepreneur Showcase

The premier platform for young female entrepreneurs across Africa has launched this year’s competition, with a $15,000 cash prize for the winners. Read More

Africa highlighted as high potential tech market

Africa’s trade potential has come under the spotlight at the 5th annual DHL Global Technology Conference in Dubai. Read More

Liquid Telecom names new Group Managing Executive

Willem Marais has been appointed to the post of Group Managing Executive for Liquid Telecom Group and also joins as the Chief Executive Officer of Liquid Telecom South Africa. Read More

Airtel, Oando seal strategic partnership deal

Airtel will gain a retail presence at Oando stations in line with a new partnership deal signed by the two companies. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

The transformative power of affordable smartphones and unlimited data in GhanaThe transformative power of affordable smartphones and unlimited data in Ghana

Smartphones are helping transform their lives of ordinary people in Ghana, Reports Nana Appiah Acquaye.

IN DEPTH

NIMC infrastructure must be managed by credible people: NIMC chiefNIMC infrastructure must be managed by credible people: NIMC chief

NIMC’s chief speaks to Kokumo Goodie about the role of the NIMC and his own legacy.

COMPANY NEWS

Microsoft, IICD launch employability hub in Ghana

Microsoft Ghana, in partnership with the International Institute for Communication and Development, has launched the TizaaWorks online platform, a one-stop online hub for employability and entrepreneurship.