This archive report was first published on 10 October 2019.
Equity Group, the second-largest bank by assets in Kenya, has set its sights on expanding its presence in the region through strategic acquisitions.
According to Equity's CEO, James Mwangi, the bank's focus is on catering to the changing needs of its youthful clientele, who are increasingly looking for technology-driven value addition.
'This generation is about driving the fourth industrial revolution, which is shaped by disruptive technologies,' Mr Mwangi said in a video interview.
Equity has already made significant strides in this direction, with deals to acquire banks in Tanzania, Rwanda, and the Democratic Republic of Congo, as well as plans to expand to Zambia and Mozambique.
The bank's assets were valued at Sh638.66 billion as of June, a growth of nearly Sh96.65 billion over the previous year.
With a presence in nine countries, Equity is aiming to have a balance sheet of around $10 billion (approximately Sh1 trillion) by the end of the year.
