Dr James Mwangi, CEO of Equity Group, shared on The Trading Bell Show a bold vision for financial inclusion and regional integration, emphasising people-centric banking, digital transformation, and cross-border partnerships.
Equity Group’s initiatives, including loan rescheduling during COVID-19, collaborations with the United Nations High Commissioner for Refugees (UNHCR) and World Food Programme (WFP), and a fully digital banking model across six African countries, aim to drive sustainable development and shared prosperity.
Financial Inclusion: A People-First Approach
Dr Mwangi highlighted Equity Group’s commitment to prioritising customers and communities, particularly during crises.
Reflecting on the COVID-19 pandemic, he stated, “For us, it was not about the equity; it was about keeping the lives and livelihoods of our customers and our communities nourished. We felt this was not a year we could measure with a balance sheet and profitability, but what happened to our customers?”
Equity Bank’s response included rescheduling 45% of its loan portfolio to ease financial burdens, waiving mobile banking fees, and donating personal protective equipment to healthcare workers.
These actions underscore a model of banking that places social impact at its core, ensuring access to financial services for underserved populations.
A Deeper Look at Equity Group’s Africa Recovery and Resilience Plan
Regional Integration: Driving Cross-Border Impact
Equity Group’s efforts extend beyond Kenya, fostering regional integration through strategic partnerships.
In Kenya’s Kakuma Refugee Camp, Equity is a key partner in the UNHCR’s “Shirika Plan,” a five-year initiative to promote socio-economic inclusion for refugees and host communities.
“We chose to collaborate with UNHCR as their programs align seamlessly with our mission at Equity Group Foundation,” Dr. Mwangi noted.
“The integration process is gradual, and we are proud to be an integral part of it.”
In the Democratic Republic of Congo, EquityBCDC, a subsidiary, collaborates with the World Food Programme to enhance food security, diversify the economy, and create jobs through innovative financing and agro-industrial projects.
These initiatives target women and youth, aiming to drive sustainable development across borders.
Digital Transformation and Inclusive Capitalism
Dr Mwangi emphasised digital transformation as a cornerstone of Equity’s strategy, with a fully digital banking model expanding access across six countries.
He also called for a reimagined economic model to address global inequality:
“One of the biggest lessons from COVID worldwide is how unsustainable the world is. The inequality in the world is not sustainable… Can we give capitalism a human soul? Can we give capitalism a human face?”
By leveraging technology and advocating for inclusive capitalism, Equity Group seeks to bridge the digital divide and ensure shared prosperity.
Dr Mwangi’s vision challenges the financial sector to balance growth with equity, smoothing “the rough edges of the greed of capitalism” to create a fairer distribution of wealth.
A Blueprint for African Banking
Dr Mwangi’s leadership offers a roadmap for the future of African banking: prioritising people over profits, forging cross-sector partnerships, embracing digital innovation, and promoting sustainable economic models.
As he succinctly put it, the goal is to “transform lives and livelihoods,” ensuring that Africa’s financial sector drives prosperity across communities and borders.
Equity Group Q1’2025 Financial Performance
Equity Group’s Q1’2025 results showed resilience in balance sheet growth and capital strength, but profitability and asset quality remain under pressure.
| Metric | Q1’2024 | Q1’2025 | y/y Change |
| Profit After Tax | 16 | 15.3 | -4.20% |
| Net Interest Income | 27.8 | 28.6 | 2.60% |
| Net Non-Interest Income | 22.2 | 19.6 | -11.80% |
| Total Operating Income | 50.1 | 48.2 | -3.80% |
| Total Assets | 1,685.90 | 1,749.20 | 3.80% |
| Net Loans & Advances | 779.2 | 804.7 | 3.30% |
| Customer Deposits | 1,236.30 | 1,322.80 | 7.00% |
| Gross NPL Ratio | 14.20% | 15.00% | 0.80% |
| Core Capital/RWA | 15.90% | 16.50% | 0.60% |
| Liquidity Ratio | 52.10% | 58.50% | 6.40% |
