This archive report was first published on 3 July 2020.
On June 30, 2020, Equity Group Plc held its 16th Annual General Meeting, where David Ansell stepped down as Chairman after nine years of service. He was succeeded by Professor Isaac Macharia, a distinguished ENT specialist and professor at the University of Nairobi.
Prof. Macharia has a long and distinguished career in the medical field, having held leadership positions in international professional organizations and consulting for the World Health Organisation (WHO) in his area of speciality.
He joined the Equity Bank Kenya Board in 2015 and became Chairman in 2017. During his tenure, he oversaw the restructuring of Equity Bank Kenya to become a subsidiary of Equity Group Holdings.
Despite a challenging operating environment following the capping of interest rates in September 2016, Equity Bank Kenya continued to register impressive performance under Prof. Macharia's leadership.
When the COVID-19 crisis was declared a global pandemic, Prof. Macharia led the Equity Bank Kenya Board in donating Ksh300Million to match a similar amount donated by the family of Dr. James Mwangi and Ksh500Million from Mastercard Foundation towards a mobilisation effort by Equity Group Foundation (EGF) that raised a total of Ksh1.1Billion.
The investment was directed towards the provision of Personal Protective Equipment (PPEs) to front line health care workers in public hospitals in Kenya, in partnership with the COVID-19 Fund Board.
Speaking when taking over as Chairman of Equity Group, Prof. Macharia said, “I thank David Ansell for his capable and adept leadership of the Board. During his tenure, the Board has been guided to support the company and its goals to achieve excellence in both profitability and purpose and it has exceeded expectations.”
Prof. Macharia has pledged to prioritize innovation and use of technology to provide the highest quality of service and experience to customers.
David Ansell ¶
David Ansell is a long-time global banker with over 40 years of experience and leadership. He served as Chief Executive Officer and Managing Director at Ecobank Transnational Inc. and as the Regional Director for Citibank in Kenya.
He is the second Chairman of Equity Group Holdings Board, having taken over from the Founding Chairman Dr. Peter Munga.
The Board of Directors paid a glowing tribute to David Ansell, noting that he had brought a wealth of technical banking experience and a sharp, incisive mind to the board.
