This archive report was first published on 5 October 2019.
Kenya's business landscape is constantly evolving, and brands must adapt to remain relevant. This is a lesson that Equity Bank has recently learned the hard way, refreshing its 35-year-old brand identity to better suit the changing needs of its customers.
Equity Bank's decision to refresh its brand is a bold one, considering the time and effort invested in building its reputation over the years. However, the bank's leadership recognized that the brand's identity had become outdated, and it was time for a change.
With operations in eight markets, including the Democratic Republic of Congo, Tanzania, Zambia, and Mozambique, Equity Bank's business has undergone significant changes since its inception. The bank's customer base has also evolved, and its operating environment has become increasingly digital.
Equity Bank's brand refresh is a reminder that even the most beloved and admired brands must evolve to stay relevant. As Wairuri, a Researcher & Policy Analyst, notes, 'nothing ventured, nothing gained.' Brands must be willing to take risks and adapt to changing market conditions to remain competitive.
