Equity Bank II (IFC-38419)

  • Kenya
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 11, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 14, 2017

Disclosed by Bank Jun 9, 2016

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Project Description
The proposed engagement with Equity Bank Kenya Limited (8220;EBKL 8221; or “the Bank 8221;) is aligned to IFC8217;s strategy for the African financial sector. The Project consists of a US$100 million senior loan to EBKL, to help the Bank grow its lending to Small and Medium Enterprises (8220;SME8221;), women entrepreneurs and to support continued diversification of funding sources especially with regard to lengthening the maturity profile of funding. EBKL is a commercial bank providing inclusive financial services with a specific focus on the underserved populations in Kenya. Equity Group also serves Uganda, South Sudan, Rwanda, Tanzania, and the DRC, with a total customer base of 10.3 million majority of them small savers and an asset base of over US$ 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.
Investment Description

Contact Information
Equity Centre Hospital Road, Upper Hill P.O. Box 75104-0020 Nairobi, Kenya Tel: +254 763 26000 Fax: +254 20 2737276 Email: mailto:mary.wangari@equitybank.co.ke http://www.equitybank.co.ke/ ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/