Customers' adoption of digital banking services has accelerated Equity's transition to a variable-cost third-party infrastructure business model. Digital channels accounted for 97 percent of the group's transactions in the recently released 2021 half-year financial results. According to the bank, 606.9 million transactions were completed through the Eazzy banking suite, agency ...
Equity Group Holdings Plc has withdrawn its recommendation of a Ksh. 9.5 billion dividend payout to its shareholders. The withdrawal of the dividend payout speaks to the Board’s assessment of risk, post balance sheet date of December 31, 2019. And of the Group’s approach to prudent risk mitigation and management. ...
Equity Group has introduced a Business Continuity Plan (BCP) to protect its customers, staff and business from the economic impact of the Coronavirus pandemic. Clients with an impact of Covid-19 on their businesses and soundness of their business model in the new normal will get a reprieve of loan rescheduling ...
Equity Bank has deepened its investment in technology and innovation in response to dynamic customer desires and the changing business environment to meet the emergent needs for its business clients. Equity Bank says the new and robust trade finance system will improve turn-around time and boost supply chain financing. At ...
Yesterday, Equity Group celebrated its 35 years of existence in the Kenyan market after having started its journey back in 1984. At the celebration, the company unveiled a refreshed identity in line with the ongoing journey of transformation and regional expansion. https://twitter.com/KTNKenya/status/1179438188651323396 The new identity is aimed at creating sustainable growth path ...
The partnership will see both organizations work towards creating more opportunities to empower Kenyans using a mix of technology and financial solutions. Equity Group Holdings PLC and Safaricom PLC have today announced plans to create a joint transformation agenda that aims to enable more Kenyans to access critical services using ...
Equity Bank has reviewed withdrawal charges on its Equity PayPal Withdrawal service in a move that will see users pay as low as 1% on withdrawals made from their PayPal account. According to Equity Bank Group CEO and MD, Dr. James Mwangi: “Financial inclusion continues to remain at the core ...
Remittances from online payments platform PayPal, now account for close to 70 per cent of all Equity Bank Diaspora Banking revenue after the two enhanced the system to process customers’ withdrawal transactions within 3 business days, down from the previous 8 business days. The Bank did not reveal how much ...
Equity Bank has launched a new branch in the coastal city of Zanzibar as it seeks to deepen its forays in the entire East African region. The Zanzibar branch brings to 14 the total number of Equity branches in Tanzania and is part of the Bank’s planned regional expansion. It ...
It is the minute that the banking industry in Kenya is facing a lot of challenges specifically on governance issues, leading to a decline on public confidence after few banks were put under receivership. However, Equity group which has retained for four times, the best overall bank in Kenya in ...
Kenya's Equity Bank, has partnered with e-commerce retailer, Jumia, to offer their customers a seamless online payment option known as EazzyPay. Customers purchasing on the Jumia online platform will be able to pay directly from their Equity Bank account through EazzyPay, which is integrated on the Jumia site. Furthermore, Equity ...
Equitel more than doubled the number of transactions the mobile platform processed in the third quarter of 2016 when compared with a similar period a year before. Equitel processed 150.8 million transactions in the third quarter of 2016 up from 62.2 million a year earlier, representing a 142 per cent ...
Equity Bank, is targeting at least one million merchants in the next three years through its mobile banking service, EazzyBanking service, which enables customers to pay for goods and services. Equity Bank is now complimenting its MNVO strategy through digitizing retail outlets to give them an interoperable capability. The Bank ...
Equitel has grown to become Kenya’s second biggest mover of mobile money as theplatform now accounts for 14 per cent of all mobile money transactions. This has been achieved slightly over a year since its launch in July 2015. Data from the Communications Authority (CA) for the three months to ...
Equity Bank has been losing business to Chura, a local airtime to cash and PayPal to M-Pesa startup but the giant bank is now moving to stem this small-time guys who are set to launch their own money remittance services and a virtual payments cad. Equity Bank says its customers ...
In a move to secure mobile money withdrawals by investment groups, chamas and joint account holders, Equitel has launched a “multiple approval” feature that allows multiple users to request to withdraw cash on their Equitel menu which then requests other account signatories to enter their PIN to approve the withdrawal request. ...
Safaricom has appointed Ron Webb as the Director – Financial Services, effective today. Mr. Webb, will replace Betty Mwangi-Thuo who left the company earlier this year. Mr. Webb is joining Safaricom from Equity Bank where he was the leader of a newly created directorate of payments within the bank, responsible ...
Airtel Kenya has received global recognition a year after the operator announced its strategic decision to move into MVNO business and host Mobile Virtual Network Operators, (MVNOs). The announcement was made at the 3rd Annual International MVNO Industry Awards Ceremony on 22nd April 2015, Nice, France. The Awards are designed ...
Corporates tender fight delays Huduma pay cards contract The supply of eectronic payment system for public servies offered through the now popular Hudma centres has suffered a setback aftert the National Bank of Kenya succesfully challenged the award of the multibillion shilling contract earlier awarded to Equity Bank and later ...
Farmers in Africa should partner and work together in order to get returns from their labour as as opposed to operating individually which alienates them from financial services. This is according to Equity Bank’s James Mwangi who added that exclusion from financial services also meant that were excluded from other ...
Africa-focused PE firm managing funds totalling over $3 billion, Helios Investment Partners has today announced plans to sale off a 12.223% in Equity Group Holdings Ltd to Norfund and NorFinance AS, a JV between Norfund and Norwegian private investors. In 2007, Helios acquired a 24.45 per cent stake in Equity ...
After two days of not being able to access popular mobile money services on Equity Bank Automated Teller Machines, clients can now access the service after the bank restored Safaricom's M-Pesa, Orange Money and Yu mobile money services yesterday. The Daily Nation reports that customers were not able to access ...
In a move that's set to revolutionize mobile money in Kenya and change the status quo of Kenya mobile money kings, Equity Bank through it's supplier Taisys announced it will be issuing a ultra-thin mobile banking smart SIM. Though it has been bone a long journey to these baby steps, ...
Equity Bank's thin-SIM card rollout has been halted today fading the firm's hopes to launch them in Kenya as soon as they could due to their security concerns purpotted by Safaricom. Today, in a sitting the National Assembly’s Energy and ICT Committee asked Kenya's Communications Authority (CA) to have a ...
Hours after the Communications Authority (CA) of Kenya’s tentatively approved the roll out of the SIM overlay technology, Safaricom, Kenya's largest mobile network operator by revenue and subscribers announced it does not necessarily agree to the move even if it will cooperate. In an announcement this afternoon, the firm said, ...
Dr James Mwangi with The McKinsey & Company Global Managing Director Mr. Dominic Barton The Communications Authority of Kenya (CA) and the Central Bank of Kenya have today announced they have approved the use of thin SIM technology in the country for a one year pilot ...
Equity Bank and Safaricom have taken the thin SIM-card battle to the Parliament. The two have appeared before the parliamentary committee on energy, information and communications chaired by Kigumo MP Jamleck Kamau. Equity Bank obtained MVNO (Mobile Virtual Network Operator) license in April via its subsidiary Finserve Africa Ltd, which ...
Dr James Mwangi with The McKinsey & Company Global Managing Director Mr. Dominic Barton Global management strategy firm McKinsey has signed an agreement that will see it serve and advisory role to the Equity Bank Group in the implementation of the bank’s 3.0strategy. On hand to ...
UK-based GSMA has waded into the embedded SIM card row between mobile network operator Safaricom and Equity bank which wants to roll out mobile banking and money transfer services in Kenya. The Business Daily reports that GSMA wrote to the Communications Authority of Kenya warning that embedding the SIM card ...
Equity Bank has launched its Eazzy 24/7 in Tanzania with the service accessible through Zantel, Airtel, Vodacom and Tigo. The mobile phone banking platform allows users to access banking services via mobile phones. It also allows customers to perform several transactions such as bill payment for DStv, funds transfer, airtime ...
