Browsing: Equity Bank Kenya

The transaction meant that Spire Bank’s deposit and loan customers would enjoy uninterrupted access to Equity Bank Kenya’s banking services.

After signing the agreement, Spire Bank Board Chairman William Rahedi said that the completion of the transaction would ensure that deposit and loan customers continued enjoying uninterrupted access to banking services through Equity Bank.

Mwalimu National Sacco Chairman Joel Gachari said that once the proposed transaction is completed on November 30, 2022, all Spire Bank depositors will become Equity Bank Kenya’s customers.

In the category of banks with the best case study, Standard Chartered Bank of Kenya took first place, followed by Absa Bank in second place and I&M Bank in third place, in the category of banks with the most nuanced case study in bank operations.

Through productivity programmes and the effective use of operational resources and energy like paper, water, and waste management, including electronic waste, the lenders were recognised in this category for their dedication and investment in ensuring the optimised management of both financial resources and natural capital.

KWFT won Promoting gender inclusivity

In a category that evaluated lenders’ efforts in encouraging women to be formally included in the financial services sector, creating opportunities for female employees to take leadership positions, and empowering female entrepreneurs,

KWFT was named the best bank for promoting gender inclusivity in the industry. Position two went to SBM Bank, and position three went to Equity Bank Kenya.

A statement posted by Equity Bank on its website indicated the plan hopes to revive the economy in the continent following the COVID-19 pandemic that halted operations in different sectors leading to the loss of jobs.

In this, AfCFTA and Equity will work on the private sector economic recovery and resilience stimulus plan where the lender has seeded with a $ 6 billion (Sh 678 billion) fund focusing on food and agriculture, extractives, manufacturing and logistics, trade and investments, social impact, health and environmental investments.

Equity plans to finance over five million micro, small and medium-sized businesses (MSMEs) and 25 million vulnerable households by 2025 to support the creation of 50 million jobs.

The new anti-coal policy that Equity has implemented comes at a time when the nation is getting ready to begin mining the commodity after significant quantities were discovered in Kitui County’s Mui Basin.

“Through with this equity investment, Equity Group undertakes to refrain from providing any financing for coal-related endeavours, including the construction or expansion of coal-fired power stations and coal mines., and transportation assets used exclusively for coal,” IFC and Equity said in a joint statement. “This equity investment” refers to the equity investment made by Equity Group.

Any utility firm that derives more than 20 per cent of its energy or revenues from coal by producing 10 million tonnes or more of coal or has an installed coal-fired capacity of 5,000 megawatts or more will not be eligible for financing from this bank. One of the most important companies that rely on coal as a source of manufacturing fuel is Bamburi Cement.