Equity Bank Ltd
- Active: Exited
- Region: Africa
- Country: Kenya
- Sector: Microfinance
- Year: 2008
- Domicile: None
- Commitment (MNOK) as of 30.06.2019: 0
- Original Commitment (MNOK): 31.4
Equity Bank is the leading inclusive banking group in East Africa with over 9 million customer accounts and nearly $4 billion in assets. Listed on the Nairobi Securities Exchange and the Uganda Securities Exchange, the bank has subsidiaries across the region and is engaged in the provision of banking, insurance agency, investment banking, securities brokerage and information and telecommunications technology outsourcing services.
The main customer segments of Equity Bank are “bottom of the pyramid”. Previously unbanked individuals and small and medium sized enterprises. The bank serves customers in Kenya, South-Sudan, Uganda, Rwanda. Equity Bank has a strong focus on women, both with adapted products and training programs for female customers, and with female representatives both on the Board of Directors and the top management team.
Delivering high quality financial services to a large market is highly capital intensive, and to improve product quality, costs and efficiency of the banks it is important to utilize scale. Equity Bank is one of the few players globally that has grown to a level where they can carry the costs of e.g. developing high quality mobile banking services to the mass market in a developing country.
This investment is now transferred to Arise B.V.
Read more about Norfund's investments in Financial institutions and how this contributes to development.