Erustus Mwencha Appointed As Equity Bank Board Chairman

By Soko Directory Team / Published August 27, 2020 | 12:54 pm

Equity Bank (Kenya) Ltd Board has appointed Ambassador Erastus Mwencha, as the Chairman, taking over from Professor Isaac Macharia who was recently appointed Equity Group Holdings Board Chairman.

Ambassador Mwencha, a career diplomat served as the Deputy Chairperson for the Africa Union Commission (AUC). Prior to that, he was the Secretary-General of the Common Market for Eastern and Southern Africa (COMESA) for ten years.

He is described in international circles as a Pan Africanist with years of progressive experience in policy formulation and institutional transformation at national, regional, and continental levels.

Speaking when handing over the Board leadership to Amb. Mwencha, Prof Macharia said, “We are honored to have Ambassador Mwencha taking over the Board chairmanship of Equity Bank (Kenya) Ltd. His experience at the helm of AU Commission and COMESA will be instrumental in strengthening Equity Bank Kenya’s catalytic role in the country’s pursuit of becoming the economic hub for the region.”

He added, “Equity Bank Kenya is our leading subsidiary and a benchmark for its peers in the Group in championing strategic execution, growth, and innovation.” He joins a highly talented Board and his leadership will be instrumental in taking the bank to its next level of growth as a technology-led integrated financial services provider.” Prof Macharia added, “ Despite the prevailing social-economic slowdown occasioned by COVID-19 pandemic, I am confident that Ambassador Mwencha will lead the Board in supporting the management to navigate the current global COVID-19 crisis to emerge strong and thrive post the pandemic. I wish him all the best in this role and promise him our support”

Professor Macharia, a renowned ENT specialist has been on Equity Bank (Kenya) Ltd Board for six years four of which he served as chairman. His fellow Board members described him as “a passionate and committed leader with overarching positivity, fairness, and sharp business acumen who brings the discipline and
precision of a medical practitioner to the board.”

Speaking when welcoming Ambassador Mwencha to Equity, Dr. Mwangi, the Group Chief Executive Officer of Equity Group Holdings Plc said, “As management, we are honored to have Ambassador Mwencha as the Board Chairman of Equity Bank (Kenya) Ltd. His vast experience and solid networks will enrich Equity’s international relations and development as we continue with our Pan African expansion strategy.

His passion and advocacy for regional integration as a driver of Africa’s development, his high values for strong institutional systems, and advocacy for a continental free trade area is well aligned with Equity’s vision of championing social economic prosperity for the people of Africa.”

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