Equity Bank’s Executive Director, Commercial Banking, Kenneth Onyango steps down, as the bank investigates digital lending fraud

Kenneth Onyango, the Equity Bank Executive Director of Commercial Banking, has stepped down. He has been with the bank for nearly 8 years serving as Head of Risk, Head of Operations and Head of Business, before being elevated to head Commercial Bank as an Executive Director. His resignation takes place around the same time the bank has admitted to possible digital lending fraud. A couple of other bank staff are also being investigated over the matter.  According to our sources, we understand up to UGX65 billion was lent out to undeserving clients who either didn’t qualify or did not put…