Equity Named African SME Bank of the Year 2018

Equity Bank has been feted as the African SME Bank of the Year at the IFC Global SME Finance Awards.

The award is endorsed by the G20 Global Partnership for Financial Inclusion (GPFI).

The Global SME Finance Awards recognises outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.

The award targets institutions that have successfully launched innovative products or services for SME clients, achieved remarkable results in providing finance to SMEs or been an innovator in digital financial services. 

The SME Bank of the Year – Africa award validates Equity Bank’s commitment to be the champion of MSME banking through provision of flexible and integrated banking services to MSMEs.

Equity Bank’s core business and service offering is geared toward MSMEs, which command 69.8 percent of its total loan book and 76.7 percent of its total deposits.

While receiving the award, Equity Bank SME Banking General Manager Mr. Jeremy Kamau said the Bank was a pacesetter in several banking trends that have supported MSMEs including digital innovation. 

Equity Bank has invested heavily in digital channels for MSMEs, offering solutions such as EazzyBiz, EazzyNet, and EazzyApp. The Bank also offers the full range of trade finance and treasury instruments to SMEs.

With over 36,000 bank agents in rural, urban, pastoral and marginalized areas across Kenya, Uganda, Tanzania, DR Congo; the Bank’s shared prosperity model has deepened financial inclusion for ordinary people.  

Equity Group Managing Director and CEO, Dr. James Mwangi said the Bank was honoured to be acknowledged for its role in creating high impact enterprises and deepening financial inclusion in the Africa.

“Having started as a small business over 34 years ago, we acutely understand the hurdles MSMEs face and have developed solutions to challenges such as lack of access to capital and markets, and lack of business management knowledge and skills,” he said.