This archive report was first published on 16 September 2019.
On September 16, 2019, Equity Bank (Kenya) Ltd. joined the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
With over 150 members worldwide, the Forum aims to provide access to finance for 200 million businesses that need financing to invest, grow, and create new jobs. Matthew Gamser, CEO of the Forum, welcomed Equity Bank to the network, stating, “We are proud to have Equity Bank join our network of more than 150 members who work to expand access to finance for small and medium businesses.”
Equity Bank, licensed under the Kenya Banking Act, offers retail banking, microfinance, and related services. The Bank has subsidiaries in Kenya, Uganda, South Sudan, Rwanda, Tanzania, and the Democratic Republic of Congo. Equity Group has also signed a preliminary agreement with Atlas Mara to enter the Zambian and Mozambican markets.
According to Mary Wamae, Executive Director of Equity Group on SME Financing in Kenya, the Bank's vision is to be the champion of the socio-economic prosperity of the people of Africa. She added, “Becoming a part of the SME Finance Forum touches on each of these values as we learn of the latest innovations in SME finance and build our relationship management skills with global leaders of this industry.”
