Equity Bank II

The proposed engagement with Equity Bank Kenya Limited (“EBKL” or “the Bank”) is aligned to IFC’s strategy for the African financial sector. The Project consists of a US$100 million senior loan to EBKL, to help the Bank grow its lending to Small and Medium Enterprises (“SME”), women entrepreneurs and to support continued diversification of funding sources especially with regard to lengthening the maturity profile of funding. EBKL is a commercial bank providing inclusive financial services with a specific focus on the underserved populations in Kenya. Equity Group also serves Uganda, South Sudan, Rwanda, Tanzania, and the DRC, with a total customer base of 10.3 million majority of them small savers and an asset base of over US$ 4 billion as of March 31, 2016. In addition to traditional outlets the bank has rolled out multiple delivery channels including digital and mobile banking services, ATMs, agency banking, cash back services and POS to increase access to financial services. The ongoing digitization of banking services which has reduced foot traffic in the branches and allowed branch managers to focus on SME business growth.