In a sweeping call for economic recalibration across the continent, Equity Group Managing Director and CEO, Dr. James Mwangi, has urged African governments to “let the private sector take on development projects,” arguing that sustainable growth will increasingly depend on private-sector investment rather than public expenditure. Speaking at the B20 Summit Fireside Chat in Johannesburg, Mwangi outlined Equity Group’s Pan-African ambitions—including expansion into 15 countries by 2030—and affirmed that all the Group’s subsidiaries are now “fairly profitable,” positioning the lender for its next phase of continental growth. Mwangi’s insights came during a high-level conversation on Bridging Priorities: Cooperation, Innovation, and…
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Equity Bank has been named Best Regional Bank in East Africa at the 2025 African Banker Awards held in Abidjan, Côte d’Ivoire. This prestigious award highlights the Bank’s significant role in deepening financial inclusion, empowering communities, and promoting sustainable economic development across East Africa. Equity Bank’s recognition is a reflection of its impactful presence across the region, driven by a purpose-led approach, customer-centric innovation, and strong support for small and medium-sized enterprises (SMEs). The award affirms the growing influence of regional financial institutions in shaping the continent’s economic future. Equity Group Managing Director and CEO, Dr. James Mwangi said “We…
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Equity Group Holdings Plc held its 21st Annual General Meeting (AGM), where shareholders voted in favor of all the proposed resolutions, demonstrating strong confidence in the Group’s strategic direction and…
The wave of integrity audits that saw over 1,200 employees sacked in Kenya is now sweeping across Equity Group’s subsidiaries in East Africa, with Uganda the latest to feel the…
Equity Group Holdings Plc continues to deliver solid financial results, underpinned by the Group’s strategic focus on diversification, innovation, and regional expansion. With strong liquidity, capital buffers, and robust regional…
Today, Equity Bank Uganda announced Gift Shoko as its new Managing Director designate. The decision signals a bold step to stabilise the bank after a tumultuous 2024. Shoko, a veteran with over 26 years of banking experience across Southern and Eastern Africa, takes the helm at a time when the bank is grappling with multiple challenges, from digital fraud to a struggling balance sheet. While his appointment has been met with optimism, the road to recovery is fraught with significant hurdles that will test his leadership, innovation, and ability to rebuild trust. A Year of Turmoil Equity Bank Uganda has…
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Since Equity Bank Uganda discovered a UGX65 billion (approximately USD 18 million) digital fraud, the bank has been in the eye of the storm, causing a whirlwind of losses, staff exits, and reputation damage. Not only did it slide from profit to loss—from a profit of UGX45.8 billion in 2022 to a loss of UGX18 billion in 2023—but the fraud, coupled with a growing non-performing loans book that more than doubled from UGX90.7 billion in 2022 to UGX191.2 billion in 2023, began to rock the Equity Bank ship in Uganda. Losses aside, the period of instability and necessary purging that…
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The Ugandan national budget for 2024/2025 was approved by Parliament, with a total expenditure of UGX72.136 trillion. The biggest portion of this⏤ UGX31.98 trillion will be financed by domestic revenues and domestic borrowing (UGX8.97 trillion), project support (UGX9.58 trillion) and budget support (UGX1.39 trillion) amongst other sources. Expenditure on wages and salaries is projected to amount to UGX7.926 trillion while non-wage recurrent expenditure shall be UGX17.454 trillion. Development expenditure from own resources is projected at UGX6.152 trillion, while external project financing shall be UGX9.584 trillion. UGX3.15 trillion has been allocated to external debt repayment amongst others. GDP is projected to…
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One of Equity Bank Uganda’s flagship projects is its tree-planting initiative, which is part of the wider Equity Group’s ambitious goal to plant 35 million trees across the countries it operates in, aimed at promoting sustainable practices for preserving natural habitats and mitigating climate change effects. Equity Bank Uganda has been at the forefront of social responsibility, with a strong focus on environmental conservation. The bank’s commitment to the environment is evident through initiatives such as the Equi Green Loan, designed to support projects dedicated to clean energy, environmental preservation, and combating climate change. The bank has already made significant…
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In a March 2023 interview with Bloomberg, Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa, told of the Group’s ambitions for the Kenyan market, revealing that the Group was looking to make a major acquisition by 2025, a milestone if achieved, would propel Stanbic Kenya to the top three banks in the country. As regional East African Chief, Mweheire’s jurisdiction covers Kenya, Uganda, Tanzania, Ethiopia, Malawi and South Sudan. Standard Bank Group through Stanbic Africa Holdings Limited, owns 70.53% of Stanbic Holdings Plc Kenya, which in turn owns 100% of Stanbic Kenya Limited, alongside other subsidiaries⏤…
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