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Equity Bank
Business

Toxic Employer! Man Calls Out Equity Bank for Denying Wife Leave to Mourn Father-in-Law

by Daily Trends
written by Daily Trends

A Kenyan man has sparked widespread online debate after accusing Equity Bank of denying his wife time off to mourn the death of her father-in-law.

In a viral post on X (formerly Twitter), user Muthomi Martins claimed that his wife, an employee at the bank, was refused compassionate leave following the death of his father. He expressed frustration over what he described as a lack of empathy from her employer.

“Thank you for successfully denying my wife even a day to mourn my dad. You’re such an uncaring partner… Shame on you,” Martins wrote, tagging the bank in his post.

He further alleged that his wife had been informed she could only attend the burial on the eve of the ceremony and would be required to return to work immediately afterward.

To support his claims, Martins shared a screenshot of a WhatsApp conversation with his wife, in which she reportedly explained the conditions set by her workplace regarding her absence.

Beyond the immediate incident, Martins also accused the bank of subjecting his wife to difficult working conditions, including transferring her to a distant branch while she was on maternity leave.

“All that matters is your assets while your junior staff are left on their own to suffer,” he added.

The post quickly gained traction online, drawing mixed reactions from Kenyans. While some users condemned the alleged actions and called for better workplace policies around bereavement leave, others urged caution, noting that the claims were yet to be independently verified.

In response, Equity Bank acknowledged the complaint and sought further details from the complainant.

“Dear Martins, Equity is committed to an environment where open, honest communications are the expectation. Please see a DM from us, requesting for more information on this,” the bank said in a public reply.

The lender also directed the complainant to its independent reporting platform, assuring that any information shared would remain confidential and anonymous.

The incident has reignited conversations around employee welfare, workplace policies, and the balance between corporate demands and personal emergencies in Kenya’s banking sector.

As the matter unfolds, it remains unclear whether the bank will take further action or provide additional clarification regarding the allegations.

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Equity Bank
Business

Inside the USD4 Million Equity Bank Heist in Rwanda

by Daily Trends
written by Daily Trends

On a night that Rwandan banking officials are still reluctant to discuss openly, unknown operatives gained access to the digital nerve centre of Equity Bank Rwanda and began moving money. Not in trickles, but in avalanches. SIM cards with no prior transaction history were suddenly purchasing mobile money float worth Rwf100 million apiece.

At the daily transfer cap of Rwf2 million, moving Rwf4.7 billion through legitimate channels would have required more than 2,000 individual transactions over multiple days.

Instead, it vanished in what investigators now believe was a single coordinated offensive through bulk float purchases, a channel that sits outside the strict withdrawal limits governing conventional banking and that, until now, nobody had thought to weaponise at this scale.

Equity Bank Rwanda confirmed on March 15, 2026, that it had detected and contained irregular transactions within its systems, triggering internal security and incident response procedures and reversing the majority of the transactions within 24 hours.

The bank was careful with its language. It did not name a figure. It did not say it had been hacked. It said its monitoring systems had worked. “Our internal monitoring systems detected the irregular transaction activity and immediately triggered the security and incident response protocols in line with operational and risk management procedures,” the Kigali-based lender said in its public announcement.

That leaves Rwf3.5 billion still unaccounted for, scattered across mobile wallets, agent accounts and the accounts of dozens of individuals who may or may not have known what they were receiving.

Attempts by this publication to obtain comment from the National Bank of Rwanda were unsuccessful. Rwanda Investigation Bureau spokesperson Dr Thierry Murangira said he had no information on the case. The office of the Finance Minister did not respond.

THE VENDOR AT THE CENTRE

The suspected entry point into Equity Bank Rwanda’s systems was not through the bank itself but through a third-party platform.

Investigators have zeroed in on ESICIA Ltd, a Kigali-based technology company that has provided internet banking solutions to financial institutions in Rwanda since 2005. ESICIA, which markets itself as ISO 27001 and PCI DSS certified and holds contracts across the banking, government and telecoms sectors in the region, supplies Equity Bank Rwanda with a vendor-managed internet banking platform that the bank operates under licence.

Investigators are now examining whether the ESICIA platform was exploited to gain unauthorised access to the bank’s infrastructure or to manipulate transactions.

The Rwanda Investigation Bureau has moved to obtain system access logs that would show who entered the platform, at what time and what actions were performed.

Digital forensic specialists are simultaneously reviewing server records and user activity trails. ESICIA Chief Executive Officer Innocent Kaneza declined to comment when contacted by Taarifa. He did not respond to this publication’s enquiries either.

The implications of a vendor-side breach, if confirmed, would be severe. It would mean that the security of a Tier-1 bank’s digital operations had been compromised not from within its own walls but through a contractor’s system, one that sits between the bank and its customers.

It would also raise uncomfortable questions about how Rwanda’s central bank supervises the third-party technology arrangements of supervised institutions, and whether ESICIA’s ISO certifications accurately reflected the real-world security of its systems.

THE MOBILE MONEY TRAP

To understand how Rwf4.7 billion could move so quickly without triggering alarms, investigators have had to examine a gap buried inside Rwanda’s digital payments architecture.

The mechanism is called float. In Rwanda’s mobile money ecosystem, registered agents who facilitate transactions for customers obtain their operating balances by depositing equivalent cash into trust accounts held at banks.

The telecom operator, in this case MoMo Rwanda, then credits the agent’s mobile wallet with digital value that mirrors the deposit. That float is the working capital of Rwanda’s mobile economy. Without it, agents cannot transact.

The fraud appears to have weaponised this mechanism. Rather than moving funds through the bank’s normal transfer channels, where daily limits would have made bulk movement impossible, the perpetrators are believed to have used the internet banking platform to generate float purchases of extraordinary size.

SIM cards that had never previously received even Rwf1,000 were suddenly credited with Rwf100 million apiece in float.

Some of those SIM cards were registered outside Rwanda and were not recognised agents within the mobile money ecosystem. Nobody has yet explained how they were allowed to make such purchases. “That is where the biggest question arises,” a source familiar with the investigation said. “Who issued those SIM cards, who owns them and how were they allowed to purchase such large amounts of float?”

A senior official at MoMo Rwanda told Taarifa that he had learned of the matter from press reports and declined to provide details.

Neither MoMo Rwanda nor the National Bank of Rwanda has issued any public statement on the fraud. The silence from key institutions has drawn sharp comment from financial sector observers, who say it reflects a troubling pattern of opacity around major incidents in Rwanda’s financial system.

THIRTY-FIVE IN CUSTODY, SIX IN UGANDA

As of March 15, 35 people were in custody in Rwanda. The Rwanda Investigation Bureau is leading the probe, conducting forensic analysis of digital systems, financial records and electronic devices seized from suspects.

Most of those detained are believed to be individuals whose bank or mobile money accounts received suspicious transfers linked to the fraudulent transactions.

Investigators are working to determine whether the recipients knowingly participated or whether their accounts were used without their full understanding by whoever orchestrated the scheme.

“You cannot receive Rwf100 million in your account and claim you don’t know where it came from,” an official said. “Investigators want to know who sent the money and why it landed there.”

The human mule architecture of the fraud, in which stolen funds are dispersed rapidly across hundreds of accounts, is consistent with sophisticated cybercrime operations seen in Kenya, Nigeria and South Africa over the past decade.

Once money is fragmented across multiple wallets, recovering it requires either the willing cooperation of every account holder or a court process to freeze and claw back each deposit separately.

Among those detained are two Equity Bank Rwanda employees from the IT department, both connected to data centre operations. Their detention does not necessarily establish guilt, bank officials have been careful to note. Investigators are examining whether perpetrators may have gained physical or technical access to the bank’s systems from inside.

“The suspicion was that there must have been physical access to the data centre,” a source said. “But even that I cannot confirm. RIB needs to complete the forensic investigation.” Simultaneously, six suspects were arrested in Uganda.

Police forensic teams are extracting and analysing digital images from devices seized in the Ugandan arrests to determine whether those individuals were directly involved or were themselves used by a wider network.

THE MWANGI CRACKDOWN THAT WASN’T ENOUGH

The timing of the Rwanda breach is as damaging as its scale. It lands less than a year after Equity Group CEO Dr James Mwangi launched the most aggressive anti-fraud purge in East African banking history, one in which more than 1,500 Equity employees across the group’s operations were dismissed in successive waves between May and July 2025 after internal audits uncovered a culture of staff collusion, unauthorised transaction facilitation and conflicts of interest.

The trigger was a Sh1.5 billion payroll fraud in Kenya, in which the IT system credentials of a Group Processing Centre manager were used to process over 40 transactions totalling nearly Sh1.5 billion before the money was transferred to rival banks.

Mwangi, who told Business Daily in May 2025 that he would be “consistently ruthless” in the purge, extended the clean-up to Uganda in June 2025 and pledged to sweep through all seven of the group’s operating markets. Rwanda, Tanzania, South Sudan and the Democratic Republic of Congo were explicitly named as jurisdictions where similar integrity audits would follow.

Eight months after that pledge, fraudsters have apparently struck the Rwanda subsidiary in what investigators believe was an externally orchestrated attack rather than the insider collusion that drove the Kenyan losses.

But the distinction offers limited comfort to a bank that had staked its regional reputation on having cleaned house.

The Rwanda fraud raises the harder question: whether a determined, technically capable external adversary could still defeat a bank’s defences even after its internal vulnerabilities had been addressed, and whether the audit of human integrity had distracted attention from the robustness of the digital infrastructure and the third-party systems that run it.

A PATTERN ACROSS KIGALI

The Equity incident is not an isolated event. Banking sector sources have told this publication and sister outlets in Kigali that at least three other Rwandan financial institutions have been targeted in comparable attacks in recent months.

BPR Bank Rwanda, the KCB Group subsidiary that is the country’s largest commercial bank by branch network with over 154 outlets, was reportedly struck by a similar fraud scheme involving approximately Rwf1.2 billion.

NCBA Bank Rwanda faced a related incident involving around Rwf400 million, although the bank reportedly managed to recover about Rwf250 million.

Bank of Kigali, the country’s dominant lender controlling more than 30 per cent of all banking assets, has also been affected by a comparable incident in recent months, though the precise amount has not been independently confirmed.

Most striking of all, sources within the banking sector have told Taarifa that even the National Bank of Rwanda itself has recently experienced attempted cyber intrusions.

In the most brazen reported case, the suspected perpetrators allegedly operated from a hotel located less than 50 metres from the central bank’s premises, attempting to penetrate the BNR’s network from a position virtually within its shadow.

The frequency and ambition of the attacks suggest a level of organised criminal capability that has not previously been publicly acknowledged in Rwanda, a country that has invested heavily in positioning Kigali as a digital finance hub and that is currently implementing a Financial Sector Development Strategy 2025-2030 explicitly aimed at accelerating the growth of digital banking and fintech.

THIS IS NOT THE FIRST TIME

Equity Bank Rwanda has been targeted before. In November 2019, Rwandan authorities arrested 12 people, including eight Kenyans, three Rwandans and a Ugandan, in an attempted cyber-fraud operation targeting the bank. They were convicted and sentenced to eight-year jail terms in 2021.

The 2026 attack appears far more sophisticated in its exploitation of the mobile money float mechanism, its cross-border architecture, and its apparent use of a vendor’s system as the entry point rather than a direct assault on the bank’s own network. It is a reminder that the criminal ecosystem learns, adapts, and probes for new gaps even as institutions patch the ones already known.

Equity Bank Rwanda, in a statement released alongside its confirmation of the fraud, said it maintains a zero-tolerance approach to financial crime and is continuing to strengthen its cybersecurity infrastructure, transaction monitoring systems, and internal controls.

The bank insisted that no customer funds had been lost and that any unrecovered amounts would be absorbed by the institution.

The assurance, standard in such circumstances, means that Equity Group’s balance sheet will ultimately bear the exposure even as RIB works to recover the Rwf3.5 billion still outstanding.

For now, Rwanda’s financial sector regulator has said nothing. MoMo Rwanda has said nothing. The bank itself has said as little as it legally must.

The silence, investigators and observers agree, is itself an answer of sorts, one that says the full dimensions of what happened that night are still being mapped, and that the institutions responsible for oversight are not yet ready to explain how the maps came to have such large blank spaces in them.

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Equity Bank CEO James Mwangi
Crime & Investigations

Court of Appeal Upholds Eviction of Equity Bank CEO James Mwangi from Ksh1B Muthaiga Mansion

by Daily Trends
written by Daily Trends

Equity Bank Group Chief Executive Officer James Mwangi has suffered a major legal and personal setback after the Court of Appeal declined to stop the execution of a judgment ordering his eviction from a sprawling Sh1 billion mansion in Nairobi’s leafy Muthaiga suburb.

In a ruling delivered on Wednesday, a three-judge bench of the Court of Appeal — comprising Justices Daniel Musinga, Patrick Kiage, and Agrey Muchelule — rejected Mwangi’s application to halt enforcement of an earlier Environment and Land Court decision that found he was unlawfully occupying property belonging to another party.

Instead, the appellate court ordered Mwangi and his wife, Jane Wangui Mundia, to deposit Sh10 million as security in an interest-earning joint account within 60 days as their appeal proceeds. The judges also directed that the status quo over the contested three-acre property be maintained pending the hearing and determination of the appeal.

However, court documents reveal that the eviction had already been carried out.

According to filings dated January 7, 2026, Mount Pleasant Limited — the firm that successfully sued Mwangi — executed the eviction order under the supervision of officers from Gigiri Police Station, effectively taking possession of the property.

“The above court order has been executed today the 07/01/2026 under supervision of the OCS Gigiri and now the plaintiff Mount Pleasant Ltd has now gained possession of the property,” reads the court document signed by the Gigiri police commander.

The development marks a dramatic fall from grace for Mwangi, one of Kenya’s most influential business leaders, whose rags-to-riches story has long symbolised African entrepreneurship. The Equity Bank CEO had claimed to have purchased the property in 2013 from former President Daniel arap Moi for Sh306 million.

At the centre of the dispute is businessman Anverali Amershi Karmali, who through Mount Pleasant Limited insists he bought the same property seven years earlier, in July 2006, from former Finance Minister Arthur Magugu and his wife Margaret Wairimu for Sh130 million.

In a stinging judgment delivered in October 2025, Environment and Land Court Judge Oscar Angote ordered Mwangi and his wife to vacate the property within 30 days or face forcible eviction by police from Gigiri and Muthaiga stations. The court also awarded Mount Pleasant Limited Sh10 million in damages for trespass, citing the property’s prime location, its three-acre size, the duration of the alleged trespass and its estimated value of Sh1 billion based on 2022 assessments.

Justice Angote further directed the Chief Land Registrar to cancel all titles, entries and conveyances linked to Mwangi’s claimed ownership and to nullify the amalgamation of subdivided parcels into a single title — effectively wiping out any legal record of the banker’s claim to the land.

While Mwangi maintained that he took possession of the property immediately after receiving his title in 2013, the court found that Mount Pleasant’s security guards remained on the land until March 2020, when they were allegedly forcefully removed by the Mwangis.

Although the Directorate of Criminal Investigations did not conclusively establish forgery, the court ruled that the numerous procedural and documentary anomalies surrounding Mwangi’s title were sufficient, on a balance of probabilities, to impeach it.

“While the court stops short of finding fraud attributable to the defendants to the requisite standard of proof, the procedural and documentary irregularities would, on their own, suffice to impeach the title,” Justice Angote ruled.

Court records paint a picture of a property saga riddled with irregularities dating back nearly two decades. The land had initially been charged to National Bank in the late 1980s by MDC Holdings Limited to secure a Sh10.5 million loan. After default, the bank sued, eventually agreeing in 2002 to sell the property for Sh90 million to recover its debt and compensate Magugu.

Karmali told the court that after acquiring the land in good faith, land registry files relating to the property mysteriously disappeared from the Ministry of Lands. He later discovered that duplicate titles had been issued, with both parties holding certificates showing them as registered owners of the same property.

The dispute escalated into open confrontation in June 2020 when Mwangi allegedly arrived at the property accompanied by police officers, removed Karmali’s guards and installed his own — prompting Mount Pleasant Limited to seek court intervention.

The Court of Appeal has now directed that the matter be fast-tracked, ordering the parties to attend a case management conference within 30 days and to file written submissions ahead of the hearing.

Until then, Mwangi must comply with the Sh10 million security order as Mount Pleasant Limited remains in possession of the contested Muthaiga estate — a sobering chapter for a banking executive whose career has been built on financial discipline, now caught in a legal battle that has once again exposed deep-seated flaws in Kenya’s land ownership system.

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Prepaid Card for Students
Business

Back-to-School is Now Stress-Free with Prepaid Card for Students

by Daily Trends
written by Daily Trends

The back-to-school season is exciting, but let’s be honest; it can also be overwhelming for parents. Between buying uniforms and books, paying school fees, and making sure your child has everything they need, the costs can quickly pile up.

And then there’s the drama. Children are frantically looking for missing socks, school fees somehow feel like a mortgage, and suddenly your youngest must have a new bag because “everyone else does.”

Add the challenge of managing pocket money for a child stepping into a new world of independence, and it’s easy to see why many parents feel the pressure. From “I lost my money” to “I need more, Mum,” pocket money stories are all too familiar.

You can avoid the stress. This year, say goodbye to cash hassles, lost pocket money, and awkward calls from school asking for transport fare. An Equity Bank Prepaid Card for students offers a smarter, safer solution.

For parents of new students, managing pocket money can be especially tricky. It’s their first time away from home, and excuses often come thick and fast: “I lost it,” “Someone took it,” or “I spent it by mistake.”

The same applies to older students, too. We’ve all heard stories like, “I washed my wallet in my trousers.” With a prepaid card, your child can pay for lunch, transport, or school supplies without the risk of losing cash. It’s secure, convenient, and eliminates excuses altogether.

The prepaid card offers unmatched convenience. From buying books at the school store to grabbing a snack at the canteen, they simply swipe, tap, or insert the card. No more last-minute ATM runs or scrambling for loose change.

The Equity Prepaid Card is more than a payment tool – it’s a practical way to teach financial discipline. You load a set amount, and your child learns how to budget and prioritize spending. If they spend everything on snacks by midweek, it becomes a valuable lesson in planning ahead.

Benefits of the Equity Prepaid Card

Easy to Load: Top up instantly via the Equity Mobile App, online banking, USSD *247#, Equitel, M-Pesa, or by visiting an Equity Bank branch or agent near you.

Monitor Spending: Track how your child uses the card and address any unusual spending habits early.

Set Spending Limits: You control how much is available, giving your child independence with built-in boundaries.

Let’s face it – kids love anything that makes them feel grown-up. Paying with a prepaid card is sleek, modern, and definitely “cool.” They enjoy the independence, while you enjoy peace of mind.

For parents, the Equity Prepaid Card makes transactions in school smooth and stress-free. For others, it’s an easy way to simplify the back-to-school season while teaching children the value of money.

Back-to-school is now stress-free with the Equity Prepaid Card for students – no lost pocket money and no endless calls asking for transport fare. The card is available to both Equity Bank account holders and non-account holders.

Visit our website, click on Equity Prepaid Cards, visit your nearest Equity Bank branch, or call 0763 000 000 to get started.

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Parent flanked by school going children transacting at a local bank agent.
Business

Back-to-School Made Easy: How Equity Bank Agents Help You Lipa Bila Presha

by Daily Trends
written by Daily Trends

Few things test the resilience of a household budget like the back-to-school season. The period comes with many financial demands, including school fees, uniforms, books, and daily supplies.

Getting ready for school has never been simpler. Equity Bank is placing its bank agents at the centre of the solution, helping parents pay, shop, and manage finances with ease.

By offering quick solutions for fee payments and mobile money transactions, the over 42,000 accredited Equity Bank agents, located in retail outlets, corporate offices, malls, postal outlets, and other convenient locations across the country, are turning a logistical headache into a smooth, stress-free process.

Instead of battling long queues at schools or struggling with last-minute payments, you can now rely on agents for a faster and more convenient way to handle these tasks and to lipa bills bila presha.

Pay Fees Through Equity Agents

Customers can conveniently pay school fees through banking agents and will be issued a receipt, which can be submitted to the school as confirmation of payment.

For customers who prefer assisted service, Equity Agents help guide the payment process using Equity’s approved channels, including:

  • *247#
  • Equity Mobile App
  • Equitel

By providing assisted access to these platforms, agents ensure school fees payments are completed accurately and on time, helping customers avoid delays during the busy back-to-school period.

Manage Cash and Deposits Near You

Equity Agents provide customers with convenient access to cash withdrawals and deposits within their neighbourhoods, making it easier to manage day-to-day back-to-school expenses. Parents and guardians can withdraw money for uniforms, books, and other school supplies, or deposit funds in preparation for school fees payments.

By transacting with an Equity Agent nearby, customers avoid long travel distances and queues at banking halls, allowing them to save time and handle school-related financial needs quickly and efficiently during the busy back-to-school period.

Complete Payments Even When Funds Are Low

Back-to-school expenses can be demanding. Customers who need flexibility can access financial solutions through Equity’s digital channels. Equity Agents help customers understand these options and help them complete transactions smoothly.

Bank agents can guide customers on how to:

  • Apply for loans of up to KSh 3 million via *247#, Equity Mobile App or Equitel
  • Complete transactions using Boostika prompts when paying through *247#, Equity Mobile App or Equitel

Don’t share your PIN with anyone, including the agent!

Enjoy Fast Service closer to home, even beyond working hours

Equity Agents are located within communities, making banking services more accessible during the busy back-to-school season.

Whether you are paying school fees, depositing money or withdrawing cash, agents provide a simple and reliable way to manage your finances close to home.

Visit an Equity Agent near you and enjoy Back to School Bila Pressure. Remember, your PIN is your secret, don’t share with anyone.

For assistance, contact Equity on 0763 000 000.

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Business

Avoid the Hassle, Shop Smart, and Lipa Bila Presha This Christmas

by Daily Trends
written by Daily Trends

The festive season is here! Streets sparkle with twinkling lights, the sweet sound of carols fills the air, and shopping malls hum with the excitement of families preparing for Christmas magic. Like everyone else, you’re thrilled to find the perfect gifts, plan the family feast, and maybe even take a well-deserved holiday.

But let’s be honest, Christmas season can weigh you down. Picture this: You’re at the supermarket, your trolley overflowing with Christmas goodies. As you reach the checkout, you realize you forgot to withdraw cash or left your debit card at home, or your phone is out of charge! The guys at the queue are getting impatient, and panic sets in.

At the family dinner, your cousin reminds you that you still owe them a Santa gift. A few minutes later, your aunt in the UK wants to send money home to buy a goat for Krisi (Christmas)-how do they ensure it gets to you quickly and safely?

The festive season is like a Christmas tree-bright and magical, but amid the joy and celebrations, the tinsel of financial chaos can tangle you up! But don’t worry, you can Lipa Bila Presha this Christmas with Equity Bank. Whether you’re shopping, sending money, or settling bills, Equity has a wide range of solutions tailored just for you.

Pay Stress-Free

Forget the hassle of cash while shopping at your favourite mall or buying Christmas goodies at City Market. Simply ask for the Equity Till Number at checkout, key it on your mobile phone, confirm the amount, and voila payment done! You can access the Till via mobile money wallets like MPESA, Airtel, and Equitel, or Equity platforms like the Mobile App, *247#, or Equity Online. It’s fast, convenient, secure, and keeps you moving during the holiday rush.

Scan, Pay, Done!

Out for dinner at a city restaurant or grabbing last-minute Christmas decorations at Eastleigh? Equity’s QR Code payments make it even easier. Just scan the QR code displayed at the counter using the Equity Mobile App, and your payment is processed instantly. It’s fast, secure, and perfect for those on the go. Customers with Visa, Mastercard, and UnionPay Apps can also scan the Till’s QR code to make payments. Lipa Bila Presha na Equitel

Equitel is your ultimate companion for convenience and affordability this festive season. Whether you’re buying lunch, shopping for gifts, or sending money to loved ones, Equitel ensures you can handle it all stress-free.

  • Free Equitel-to-Equitel Transactions: Send money to family and friends without worrying about transaction fees.
  • Zero Charges on Equity Till Payments: Pay at any merchant using the Equity Till Number without incurring additional charges.
  • Wide Accessibility: Access Equity’s services from anywhere, whether you’re in the city or upcountry.

Sending Money from Abroad? No Problem!

For your aunt in the UK, Equity’s international money transfer services make it easy to send funds directly to an account or an Equity agent near you. With options like MoneyGram, Western Union, and Swift Transfer, you can count on quick, reliable transactions with reduced fees. Whether it’s for gifts, school fees, or holiday shopping, Equity ensures your loved ones are sorted.

Swipe, Tap, Go

Whether you’re shopping locally or jetting off internationally, your Equity debit or credit card is like Santa’s little helper this season—always ready to swipe, tap, or insert! From booking those dream holiday flights to purchasing the perfect gifts online, your card makes payments so effortless and secure, it feels like Christmas magic.

Convenience, Security, Flexibility

Equity is not just about making payments—it’s about making your life easier:

  • Convenience: Multiple payment options, whether you’re shopping in-store, online, or at an agent.
  • Security: Safe and reliable transactions, allowing you to focus on the festivities.
  • Flexibility: Choose from tills, QR codes, cards, or Equitel for seamless payments.

This Christmas, let Equity take the pressure off your payments so you can focus on what truly matters—family, friends, and festive joy. Whether you’re shopping for gifts, sending money to family, or treating yourself to something special, you can do it all without worrying about cash or long queues.

So go ahead—fill that trolley, book that holiday, and enjoy the magic of the season. With Equity, you can truly Lipa Bila Presha. Call 0763 000 000 for help or inquiries. 

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Equity Bank Group MD and CEO James Mwangi addressing investors ahead of Kenya Trade Investment Road Show 2025 in Nairobi
Business

Global investors urged to seize Kenya, East Africa’s untapped potential

by Daily Trends
written by Daily Trends

Global investors have been urged to look beyond conventional markets and unlock the immense, yet largely untapped, trade and investment opportunities within Kenya and the broader East African region.

The call came from Equity Group’s top leadership in the ongoing Kenya Trade & Investment Roadshow 2025, emphasizing the region’s demographic dividend, abundant resources, and a burgeoning private sector.

Dr. James Mwangi, Equity Group CEO and Managing Director, framed the current global economic landscape as a “turning point,” highlighting the growing significance of the private sector worldwide.

“For the first time, we see the private sector, particularly the listed companies, have a bigger market cap than the entire global GDP,” Dr. Mwangi stated, underscoring the formidable economic power wielded by private enterprises.

He positioned Africa as the “continent of opportunities,” citing its youthful and rapidly expanding population.

“One out of three by the turn of the century will be living in Africa,” Dr. Mwangi said adding that by 2050, “two of every three working population will be a young person from Africa.”

This demographic shift, he noted, will not only provide a massive labor force but also a substantial market with increasing “disposable income.”

Beyond human capital, Dr. Mwangi highlighted Africa’s rich natural endowments, including “65% of arable land” and “62% of all renewable energy that is exploited.”

He advised investors to “make early decisions and take a position before it becomes too competitive,” stressing that a “transformed Africa is a sustainable world.”

Equity Group’s role, he affirmed, is to “facilitate you… to open doors for you,” encouraging a shift towards “partnership and collaboration” to provide solutions to global challenges.

Echoing this sentiment, James Nyabanda, Equity Kenya Managing Director, warmly welcomed the delegates to “the home of Equity” and, more importantly, “the home of entrepreneurs.”

He underscored Kenya’s strategic importance as a gateway to the East African market.

“Over the next couple of days, we are looking to take you on real roadshows to see opportunities that are available in Kenya,” Nyabanda said.

He emphasized that the bank has established a “premier platform to enable us to connect businesses,” facilitating connections between Kenyan enterprises and international investors.

Nyabanda highlighted the sheer scale of the opportunity, noting that the East African market alone boasts “500 million individuals.” He encouraged attendees to take “full advantage” of the unique platform provided by the roadshow.

“It’s not just centered towards Kenya, but what Kenya and its neighbors are able to offer,” he said, inviting investors to join Equity in exploring and investing in the region’s dynamic economic landscape.

The roadshow aims to foster strong partnerships and build trust between international investors and local businesses, ultimately driving sustainable growth and development across the continent.

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Business

Red Cross/Equity Partner to Enhance Humanitarian Emergencies Response

by Daily Trends
written by Daily Trends


The Kenya Red Cross Society (KRCS) and Equity Bank Kenya have entered into a strategic partnership to enhance response to humanitarian emergencies.

The collaboration is keen on strengthening humanitarian support and sustainably promoting the wellbeing, financial literacy, health and resilience of communities across Kenya.

Speaking during the signing of the Memorandum of Understanding (MoU), KRCS Secretary General Dr. Ahmed Idris said the collaboration seeks to leverage the respective strengths of both institutions to enhance community preparedness and response to humanitarian emergencies.

Dr. Idris noted that the partnership will enable both organizations to work closely in designing and implementing innovative, community-driven programmes that alleviate human suffering and support long-term development.

“It is also an opportunity to co-create sustainable solutions with Equity Bank Kenya to support families affected by disasters, restore livelihoods and help communities find long-term pathways to resilience. Together, we hope to enhance access to financial literacy, economic empowerment, and dignified recovery for vulnerable households,” said Idris.

Equity Bank Kenya Managing Director Moses Nyabanda welcomed the collaboration, emphasizing Equity’s commitment to strengthening community resilience through impactful partnerships.

“This partnership allows us to blend the Red Cross’ deep expertise in humanitarian response with Equity’s strength in financial inclusion. We are keen to learn from KRCS on how best to support communities during crises, while complementing their efforts through the Equity Group Foundation’s pillars in social protection, access to finance, and livelihood restoration. Our goal is to ensure that vulnerable families not only recover from shocks but are equipped to thrive,” said Nyabanda.

He added that Equity sees the partnership as an opportunity to enhance social protection initiatives through provision of insurance solutions and to scale community support mechanisms by leveraging the bank’s financial infrastructure and outreach networks.

Under the partnership, the two organizations agreed to collaborate in several key areas aligned with their mandates, policies, and operational frameworks.

Nyabanda said the key areas include financial literacy, through the training of women and youth groups on basic budgeting, prudent borrowing, effective saving and investment.

This will also include entrepreneurship and digital literacy training for vulnerable groups and provision of loans and other financial services to trained groups.

Dr. Idriss said the partnership will also enhance the delivery of cash transfers and other forms of cash and voucher assistance, with Equity serving as a financial service provider to facilitate some of the disbursement of aid through mobile money, bank accounts and other appropriate channels.

In food security, the two institutions will promote smart and modernized agricultural practices, train communities in improved farming methods, and help farmers access reliable markets for their produce.

In the health sector, the collaboration will involve working with Equity Afya medical centresto expand access to medical services, supporting joint efforts to digitize health data and ensuring the provision of healthcare during emergencies.

The partnership will also extend to education, where the Red Cross will assist deserving students in some of the communities they serve in applying for scholarships, while Equity scholars will be linked to the Red Cross Youth Programme for community service, life skills development, mentorship, and career guidance.

Equity will further provide general banking services to support various community initiatives.

In environmental management and conservation, the partnership will champion tree-planting efforts and support communities through training and access to clean-energy technologies, contributing to sustainable ecosystem restoration and climate resilience.

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KPA Calls for Urgent Interventions to Address Logistics Challenges

by Daily Trends
written by Daily Trends

The Kenya Ports Authority (KPA) Managing Director Captain William Kipkemboi Ruto has called for urgent interventions to address capacity constraints as surging cargo volumes and increased transshipment traffic stretch its infrastructure to the limit.

“Right now, we are already overwhelmed. Cargo has grown so fast that our capacity has been stretched,” said Captain Ruto during a visit by Equity Bank Kenya Managing Director Moses Nyabanda.

According to Captain Ruto, despite these challenges, KPA has embraced digitized payment systems powered by Equity Bank to improve efficiency.

“You’ve made things very simple for us. Today, a customer pays from anywhere, and the gate system updates instantly. That efficiency matters,” Captain Ruto added.

Kenya Ports Authority Managing Director Captain William Kipkemboi Ruto (in cap) engages the Equity Bank Kenya delegation led by Managing Director Moses Nyabanda during their visit, as they discuss emerging opportunities within the country’s logistics and port ecosystem.

In response, Nyabanda reassured KPA of Equity’s continued support, stating, “As you expand, we want Equity to be a deeper and more strategic partner.”

Beyond the port, Equity Bank extended its engagements to Autoports Freight Terminal and Kyoga Hauliers. At Autoports, Chairman Abubakar Ali Joho outlined how rapid growth in cargo volumes has stretched the company’s capacity to handle fertilizers, steel, bulk cargo, and warehousing operations.

Joho emphasized the need for financial solutions to support expansion saying, “Our group handles between 1.5 to 2 million tons of cargo a year. Logistics has changed; every day there is a shift in trade facilitation. We’re growing, but capacity is becoming a challenge.” 

At Kyoga Hauliers, Operations Director Ismail Gulam highlighted the high-risk nature of logistics, citing thin margins, fluctuating fuel costs, and reliance on working capital cycles. Gulam expressed optimism about Equity’s involvement in addressing these challenges.

Nyabanda pledged to work closely with both companies to co-create tailored financial solutions. He said, “Your growth is Kenya’s growth. We are here not just as bankers, but as partners ready to walk this journey with you.”

Equity Bank’s engagements along the Coast extended beyond logistics to address challenges in tourism, small enterprises, and renewable energy. At a Small and Medium Eenterprises (SMEs) Customer Engagement Forum in Diani, Kwale County Minister for Tourism, Trade, and Enterprise Development, Michael Mutua, described Equity’s support as “a lifeline” for local entrepreneurs.

The forum brought together small business owners, tourism operators, local leaders, and youth innovators for a high-energy dialogue on building a more resilient and inclusive coastal economy. Discussions underscored the region’s enormous potential and the urgent need for partnerships that empower Diani entrepreneurs to thrive despite economic vulnerabilities.

“Our people need financing, mentorship, and the kind of partnership that sees potential and nurtures it,” said Mutua.

Equity Coast Regional Manager highlighted the resilience of local entrepreneurs, saying, “The heart of Diani’s economy is its people. Our commitment is to walk with you on the ground and turn that resilience into measurable growth.”

Kwale County MP Fatuma Masito lauded Equity’s willingness to listen, noting, “Today, there is renewed confidence that with the right partnership, Diani’s enterprises can grow and uplift entire families.”

Equity also explored green mobility initiatives during a courtesy call on Stefan Wentzel, the Honorary Consul of Germany, at his Diani office. Wentzel highlighted the Sunny Tuk Tuk project, which aims to replace diesel-powered tuk-tuks with electric models.

“Our goal is to transform mobility by going electric, creating cleaner towns and new jobs for youth and women drivers,” said Wentzel.

Wentzel also praised Equity’s community-focused approach, saying, “What sets Equity apart is that you’ve grown organically, not through mergers or acquisitions, but by investing in people.”

Nyabanda lauded the initiative, stating, “Projects like this that combine sustainability, innovation, and job creation fit perfectly within our mission of empowering businesses to grow responsibly.”

“Kenya’s transformation will come from partnerships rooted in trust, innovation, and shared values. That’s the journey Equity is proud to lead,” he added.

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Kwale County Enters Partnership to Boost Women and Youth Empowerment

by Daily Trends
written by Daily Trends

The women and youth of Kwale County are set to benefit from new opportunities after the county entered a collaboration with Equity Bank Kenya, aimed at supporting local enterprises, agriculture, and skills development.

Despite its rich natural resources and vibrant population, Kwale County continues to face high unemployment, limited access to credit, and underutilized agricultural potential.

To address these challenges, Governor Fatuma Mohamed Achani met with Equity Bank Managing Director Moses Nyabanda and Board Director Samuel Mwale to explore ways of supporting residents in turning ideas into sustainable livelihoods.

Governor Achani praised Equity Bank for its longstanding involvement in education through scholarships and bursaries. She noted that the county is now shifting focus to economic empowerment, particularly for women, to complement its earlier investments in education.

“Equity Bank has been our major stakeholder, especially in matters of scholarships and bursaries,” said Governor Achani. “

Now, we’re focusing on empowering women through business. We’ve helped over 300 women groups register companies, but we need a financial partner to help us manage the revolving fund that supports them.”

The governor emphasized that formalizing women’s groups into companies is only the first step. Access to financing, mentorship, and training are critical to ensuring these enterprises grow, create jobs, and contribute to the county’s economy.

Nyabanda reaffirmed the bank’s commitment to supporting Kwale’s communities, noting that Equity Bank has been present in the region since 2007 with a focus on uplifting local residents.

“Women are forming companies, creating jobs, and building confidence. With our support, we can grow these businesses and boost the county’s economy,” he said.

He added that the bank’s programs help informal groups transition into structured, self-sustaining enterprises while linking education with entrepreneurship, ensuring residents can translate knowledge and skills into income-generating activities.

Board Director Mwale highlighted the county’s rich farmland, mineral deposits, and blue economy potential as avenues for creating sustainable livelihoods for residents.

“For too long, we’ve spoken of potential. Now, it’s time to turn that potential into real opportunity. Kwale County is ready, and we are proud to be part of that transformation,” he said.

Governor Achani welcomed the partnership, noting ongoing county investments in irrigation, dam construction, and deep-sea fishing, and inviting Equity Bank to collaborate in scaling up these initiatives.

Both parties agreed to focus on sustainable financing models for women, youth employment programs, and agricultural value-chain development.

The renewed partnership marks a step toward translating Kwale County’s resources and population potential into real opportunities that benefit the people themselves, strengthening livelihoods and local economic growth.

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NCIC Honours Equity Bank with Peace Champion Recognition

by Daily Trends
written by Daily Trends

The National Cohesion and Integration Commission (NCIC) has recognized Equity Bank as a Peace Champion for its outstanding contributions to fostering peace and social cohesion in Kenya.

The award was presented at the Jaramogi Oginga Odinga Sports Complex in Kisumu by County Governor H.E. Prof. Anyang’ Nyong’o and NCIC Chairman Rev. Dr. Samuel Kobia during the 2025 International Day of Peace (United Nations) celebrations. This year’s theme was “Act Now for a Peaceful World.”

NCIC commended Equity Bank’s commitment to inclusive growth, highlighting its position as both a leading financial institution and a cornerstone of peacebuilding in Kenya. The commission also acknowledged the bank’s efforts in advancing education, youth empowerment, and economic inclusion, key pillars of peaceful societies, through its financial literacy programs.

Equity Bank was further lauded for supporting the International Day of Peace through donating tree seedlings to symbolize growth, unity, and environmental sustainability.

“Through its collaborative efforts with national agencies such as NCIC, National Government Administration Officers (NGAO), peace committees, and county governments, Equity Bank has consistently supported initiatives that promote dialogue, coexistence, and sustainable development,” NCIC stated.

Kisumu Governor H.E. Prof. Anyang’ Nyong’o emphasized the broader meaning of peace, stating, “Peace is not just the absence of conflict; it is justice, dialogue, inclusion, and shared humanity.” He also called for a collective commitment to peace, adding, “Youth remain at the centre of this journey as we rise above division and commit to lasting solutions, even locally within our beloved county.”

Speaking on behalf of Equity Bank Kenya Managing Director Moses Nyabanda, Dr. Silpah Owich, Head of Women and Youth Banking, highlighted the bank’s dedication to fostering peace, sustainability, and empowering its customers.

“For us in business, we appreciate and recognise that businesses thrive in the right conducive environment. Peace creates stability that allows enterprises to flourish, attracts investment, and enables communities to prosper. Simply put—without peace, there can be no sustainable growth,” she said.

Dr. Owich also highlighted the bank’s focus on customer partnerships to drive inclusive growth. “We shall continue to partner with our customers, institutions, and organizations to create financial solutions that improve access to capital and funding, especially for women, youth, MSMEs, and agricultural value chains. By combining technical assistance, capacity building, and innovations like group lending and digital channels, we aim to lower barriers and ensure equitable economic opportunities,” she explained.

She further noted the link between peace and environmental care. “Climate change, if not addressed, remains one of the most serious threats to global peace and security. That is why Equity Bank continues to champion financing of climate-smart initiatives and tree-growing. By restoring ecosystems, we protect livelihoods today and secure peace for generations to come,” she added.

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Students Bag Cash Prizes, Trophies for Insurance-Themed Pieces at Kenya Music Festivals

by Daily Trends
written by Daily Trends

Schools across the country bagged cash prizes of up to Ksh50,000 as the regional competitions of the Kenya Music Festival ended, with top honours awarded for creative performances that championed insurance adoption by rebranding it as a vital “vaccine” and a protective “ark” against life’s journey.

These messages align with this year’s KMF theme Enhancing the Creative Economy through Artistic Expression for Sustainable Development and reflect Equity Bank’s theme “Securing Lives Transformed and Wealth Created through Life, Health, and Wealth Insurance,” with the financial entity as the main sponsor of the festivals.

Educators at the festival championed the push for early financial literacy, arguing that these creative platforms are ideal for instilling crucial life skills. Abel Mariaka, a teacher and composer from CGHU Primary School, Starehe, stressed the necessity of starting early. “It’s important for them to save early because they need to prepare well for their future lives,” he said, adding that such planning is vital for covering future school fees amid inflation. As a composer, Mr. Mariaka also noted a significant shift in the festival’s creative themes, which now embrace topics like digital technology and finance. He sees this as a positive development, suggesting that even AI can be used as a tool to “encourage creativity and innovation among the students.”

John Njuguna, a trainer at Mirema School, echoed this sentiment, particularly on the subject of insurance. He stressed the practical importance of this education, arguing that it provides a foundation for future security. He noted that when today’s students face challenges like illness later in life, they can “rely on what you learned when you were young about the insurance.” Mr. Njuguna added that understanding that education has a cost and that insurance can help secure it is a vital lesson for learners.

Leading the charge at the regionals showcased across the country, Kyeni Girls High School, in a compelling narrative performed at the Chuka regionals, declared that “Insurance is your vaccine.” Their piece argued that just as a vaccine shield against illness, insurance provides a crucial defence against financial distress, covering everything from funeral expenses to ensuring “quality health without you.”

Echoing this sentiment of security, Mabe Twinkling Stars, a Primary School in Nairobi, showcased “The Ark” as their central metaphor for insurance. This ark, they explained, is a haven where individuals and their investments are protected from life’s storms. “Consider Insurance, for you never know when tragedy will attack,” they explained, highlighting the comprehensive nature of policies that cover everything from life and health to property and even work-related injuries. Their performance culminated in a powerful call to action: “Come on, come on. Let’s be assured we are insured.”

Meanwhile, Mtopanga Secondary from Mombasa championed insurance as a steadfast shield. Their recitations consistently reinforced the idea of protection and peace of mind. While preforming at Kenyatta High School Mwatate in Taita Taveta County, the high school students confidently declared, “We have removed worries. We are shielded with a shield.” This shield, they articulated, extends to various aspects of life, from ensuring financial stability in the face of illness – “It will treat cancer” – to covering funeral expenses and even providing for retirement and in times of crisis, will ensure families are not burdened.”

Mwenje Girls also detailed how insurance supports education, provides a comfortable retirement, ensures good health, and even offers support during times of disability.

With Ksh25 million sponsorship from Equity Group, the partnership has proven fruitful at the regional levels ending this July. The nationals, set to be held in Meru this August, will see top performers like Precious Blood Secondary School, Alliance Girls High School, Statehouse Girls, Meru School, St Martin Kaewa, compete for the final honors.

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Unilever And Equity Bank Launch Ksh2.4B SME Financing Drive to Strengthen Supply Chains and Fuel Inclusive Growth

by Daily Trends
written by Daily Trends

Unilever and Equity Bank have announced a strategic partnership to offer a Distributor Financing Solution, designed to strengthen manufacturing supply chains, improve product availability, and accelerate growth across the markets.

This initiative is part of a broader effort to empower small and medium-sized enterprises (SMEs), enhance distribution efficiency, and fuel sustainable growth in the fast-moving consumer goods (FMCG) manufacturing sector.

Under the partnership, Equity Bank will provide tailored working capital financing to Unilever’s distributors, enabling them to access credit, improve stock availability, and expand their reach into underserved markets.

Key Highlights of the Partnership:

  • Accelerated Access to Finance: Distributors within Unilever’s network will benefit from customized credit solutions that support day-to-day operations, drive inventory management, and unlock growth potential
  • Supply Chain Optimization: The solution will support Unilever’s critical last-mile delivery, ensuring that products remain available and accessible to consumers across the region.
  • Financial Inclusion: The initiative also supports broader financial inclusion by extending credit facilities to MSMEs within Unilever’s ecosystem through Equity Bank’s innovative financial products.

Equity Bank Kenya Managing Director Moses Nyabanda described the partnership as a strategic alignment of purpose. “Our mission is to empower consumers, businesses and communities,” said Nyabanda.

“This collaboration with Unilever allows us to extend affordable, accessible credit to traders who form are key drivers of Kenya’s economy and with Equity’s reach across all 47 counties, we’re positioned to scale this quickly. Manufacturing is a vital pillar of Kenya’s economy, contributing 7.8% to the national GDP. We are proud to partner with Unilever, to offer tailored distributor financing solutions. This initiative not only empowers SMEs but also fosters inclusive economic growth by channeling capital to where it’s needed most: into the hands of entrepreneurs who drive the supply chain from end to end.”

Speaking on the partnership Luck Ochieng, Managing Director, Unilever East Africa said “We are delighted to continue empowering our business partners through this transformative partnership with Equity Bank, enabling them to access affordable financing, build capacity, and unlock new commercial opportunities. This initiative is a testament to our unwavering commitment to sustainability and inclusive growth, ensuring that every distributor, regardless of size or location, has the tools to thrive.”

“By investing close to KES 2.4 billion annually, we are not only strengthening our supply chain but also creating meaningful employment and promoting economic development within our business communities across Kenya,” he added.

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How to Access Loans and Financial Advice as a Chama or Businessperson with Pamoja Banking

by Daily Trends
written by Daily Trends

Kenya’s economic vitality is significantly driven by its grassroots enterprises and community groups, often known as chamas. These collective entities play a crucial role in fostering local development and economic activity.

Despite their economic contribution, these small and medium sized enterprises often face limited access to credit, compounded by low financial literacy and informal operations.

Recognising this immense potential, and the critical need for capital, financial inclusion, and a robust savings culture within these groups, Equity Bank has strategically positioned its Pamoja Banking to offer a comprehensive suite of financial solutions designed to empower groups and individuals.

Pamoja Banking offers tailored financial solutions, primarily targeting registered groups of 12-40 members across various sectors like agriculture, trade, and investments. These groups can be undergoing Business Development Services trainings offered by Equity Bank Kenya, registered with the bank, other MFIs and Banks for at least one year.

It also empowers individual micro-entrepreneurs aged 18 and above, who gain financial access through their group affiliations and individual members looking to start or expand their businesses.

Benefits of Pamoja Banking products 

Pamoja Banking offers several key advantages that extend beyond traditional credit provision. It cultivates disciplined saving habits within groups and ensures accessibility and convenience for joint and group accounts.

Furthermore, groups gain remarkable flexibility by being able to access up to three loans simultaneously. Members also benefit from free training that equips them with essential financial management knowledge, complemented by guidance from Equity’s relationship managers on productive fund utilization.

Additionally, the service provides access to 24-hour banking through a Multiple Approval Service for Joint & Group Accounts.

These advantages are delivered through a comprehensive suite of Pamoja Banking products, each designed to meet specific financial needs. These are:

Fanikisha Jamii Loan

Supports household needs, from school fees to medical bills, with amounts up to Kes 2 million and flexible repayment terms.

Pamoja Kilimo Loan

A lifeline for the agricultural sector, providing up to Kes 10 million for production, farm inputs, and machinery, with a repayment period extending to 60 months.

Pamoja Biashara Loan

Fuels entrepreneurship with up to Kes 10 million for startups, stock financing, and business expansion, repayable over 36 months.

Pamoja Investment Loan

Facilitates significant investments like movable asset financing, land purchases, and micro-housing, offering up to Kes 10 million with a generous repayment period of up to 120 months.

Beyond these core offerings, Pamoja Banking extends its reach to specialized areas:

Group Insurance Premium Financing

Supports various insurance payments (health, crop, motor, etc.) up to Kes 1 million, helping groups manage risk effectively.

Chama Investments Loan

Empowers local micro-entrepreneur groups to invest collectively, with substantial loan amounts up to Kes 100 million for project financing and real estate development.

Diaspora Chama Investment Loan

A strategic initiative targeting Kenyans in the diaspora, enabling them to collectively invest back home, with facilities up to Kes 200 million. This taps into the significant remittances flowing into the country and channels them into productive investments.

For groups and micro-entrepreneurs keen on leveraging structured financial solutions, exploring the detailed provisions of such initiatives is a crucial next step towards sustainable growth.

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Part of the delegates who participated in the 2025 Tanzania – Uganda Trade and Investment roadshow, during a site visit to GALCO LIMITED, a member of GSM Group Of Companies, in Dar es Salaam. They are joined by AQ Hamza, Equity Group Director International Trade Relations (Centre Left)
Business

Equity Group Spearheads Regional Trade and Investment Mission to Uganda and Tanzania

by Daily Trends
written by Daily Trends

Equity Group spearheaded a high-impact Trade and Investment Mission to Tanzania and Uganda, bringing together investors from across Africa and beyond to explore trade and investment opportunities in the region’s fast-growing markets. The week-long mission, which spanned Dar es Salaam, Zanzibar, and Kampala, was designed to promote cross-border trade and investment and strengthen regional value chains under the Group’s Africa Recovery and Resilience Plan (ARRP).

Organized in partnership with Equity Bank Tanzania and Equity Bank Uganda, the mission convened over 50 investors from Asia, Africa, Middle East and Europe, including entrepreneurs, private equity firms, development partners, and institutional investors. Delegates participated in panel discussions, B2B networking, government and business forums, and strategic site visits in sectors such as agribusiness, energy, tourism, infrastructure, financial services, manufacturing and the Blue Economy.

“This mission is a strategic effort to unlock the enormous potential that exists in Tanzania and Uganda by connecting global capital to local opportunities,” said Dr. James Mwangi, Equity Group Managing Director and CEO. “Our goal is to catalyze investment and trade that deliver lasting impact, creating jobs, enhancing value chains, and driving inclusive economic growth.”

In Tanzania, the mission explored opportunities in agro-processing, tourism, renewable energy, ICT, and more. Investors visited key developments in Dar es Salaam and Zanzibar, where the blue economy and sustainable real estate are drawing rising interest.

“Tanzania is not just an emerging market, it is a rising economic powerhouse,” said Isabela Maganga, Managing Director, Equity Bank (Tanzania) Limited. “This is more than a roadshow; it’s a strategic platform aligning capital with national and continental priorities under AfCFTA. At Equity, we’re proud to help turn potential into progress.”

Government officials echoed the private sector’s enthusiasm.

“Tanzania is open for business, and institutions like Equity Bank are helping accelerate that momentum,” noted James Maziku, Director of Investment Services at the Tanzania Investment Centre (TIC). “With a supportive investment climate and bold reforms, this initiative is timely and aligned with our national development goals.”

In Zanzibar, leaders praised the bank’s approach to inclusive investment facilitation.

“Equity’s initiative to connect local businesses with global investors is commendable,” said Hon. Omar S. Shaaban, Zanzibar’s Minister of Trade and Industrial Development. “It’s rare to see a financial institution so actively building cross-border investment bridges.”

Hon. Rashid Ali Salim, Deputy Principal Secretary in Zanzibar’s President’s Office, added, “This mission is a gateway for our people to access international markets, especially in tourism and the blue economy. It’s a true example of impactful public-private collaboration.”

The Uganda leg of the mission focused on value addition, manufacturing, and agri-tech, with delegates touring industrial zones and holding discussions with policymakers and entrepreneurs.

“Uganda is emerging as a dynamic investment destination, thanks to its stable economy, rich resources, and reform-oriented environment,” said Gift Shoko, Managing Director, Equity Bank Uganda. “This mission showcases real opportunities to create local value for regional and global markets.”

The Private Sector Foundation Uganda (PSFU) highlighted the importance of such partnerships in shaping a stronger regional economy.

“This mission reflects our readiness to collaborate with the private sector in attracting investment, boosting industrialization, and building resilient economies,” noted a PSFU representative. “Such partnerships are key to unlocking Africa’s next growth frontier.”

The trade mission built on the legacy of successful Equity-led trade and investment missions in recent years, including Kenya-DRC, US-Tanzania, Belgium-DRC-Rwanda, Singapore-Kenya, India-Kenya, South Africa-Kenya, US-Tanzania-Kenya, India-Rwanda-Uganda, and DRC Investors Roadshows. These missions have helped catalyze billions in investment, facilitate new business partnerships, and supported regional trade integration helping to facilitate the Africa Free Continental Trade Area Agreement, of which Equity Group is a signatory. In addition, through a formal partnership with the East African Community (EAC), Equity is actively supporting the creation of a common market by accelerating the implementation of the ARRP.

As part of its Africa Recovery and Resilience Plan, Equity Group is redirecting liquidity equivalent to 2% of the region’s GDP toward the private sector, targeting critical value chains in agriculture, manufacturing, MSMEs, and infrastructure. The plan aims to reach 100 million people and businesses by 2030 and create up to 50 million jobs across the continent.

Ronny Mulongo, a representative from the Private Sector Foundation Uganda (PSFU) said, “This mission reflects our region’s readiness to collaborate with the private sector in attracting investment, driving industrialization, and building resilient, inclusive economies. Partnerships like these are essential for unlocking Africa’s next phase of growth.”

The Tanzania-Uganda Trade Mission is a continuation of the Group’s commitment to transforming lives and livelihoods by connecting people, capital, and opportunity across Africa.

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East African Cables
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East African Cables Suffers Setback as Court Clears Equity Bank to Sell Properties

by Daily Trends
written by Daily Trends

East African Cables PLC has faced a significant blow in its legal battle with Equity Bank (Kenya) Limited, as the Court of Appeal dismissed its application for an injunction, effectively allowing the bank to proceed with the sale of four prime properties.

This ruling marks a critical development for the struggling cable manufacturer, which has been seeking to prevent the forced sale over a reported debt exceeding Kshs. 2.2 billion.

The decision, delivered by Justices J. Mohammed, Tuiyott, and Nyamweya, upholds a High Court ruling from November 11, 2024, which had also dismissed East African Cables’ initial application to halt the sale.

East African Cables had sought to prevent Equity Bank from advertising, selling, or otherwise dealing with properties identified as L.R. No. 209/4235, L.R. No. 209/8176, L.R. No. 209/6982/1, and L.R. No. 209/6982/2, pending the outcome of an intended appeal. The company argued that the appeal had strong prospects of success and that a sale of the properties would render their appeal nugatory.

However, the Court of Appeal, while acknowledging that East African Cables had an “arguable appeal” concerning the interplay of existing interim orders from another case, ultimately ruled against the injunction. The court’s decision hinged on Section 99(4) of The Land Act 2012, which stipulates that any person prejudiced by an improper exercise of the power of sale has a remedy in damages.

“That is the complete answer to any person who offers his or her property as security in exchange of a Bank facility and pleads that the lender is acting improperly,” the judges stated in their ruling.

Given Equity Bank’s status as a “tier 1 Bank” the judges said it has the ability to pay any damages incurred should East African Cables receive a favourable final judgement in the dispute.

This means Equity Bank is now at liberty to proceed with its statutory right to sell the four properties, which were offered as security for facilities granted to East African Cables. The interim orders that had temporarily protected the properties have been discharged.

For East African Cables, this ruling intensifies the pressure on its financial standing and could lead to the loss of significant assets. The company’s next steps will likely involve pursuing the full appeal, although the immediate threat of the property sales looms large.

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