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Equity, KCB fight for continental honours

Sunday May 19 2019

 Equity Bank

An Equity Bank outlet in Nairobi. FILE PHOTO | NMG 

JAMES KARIUKI
By JAMES KARIUKI
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Six Kenyan-headquartered lenders will battle for continental awards in a competition hosted by quarterly banking and finance magazine, the African Banker.

Equity Group, Trade and Development Bank (TDK), KCB Group, Ecobank and Family Bank as well as fintech operator 4G Capital were among African firms shortlisted in various categories whose winners will be unveiled on June 11 during a gala dinner in Malabo, Equatorial Guinea.

Equity Group’s James Mwangi and TDK’s Admassu Tadesse will fight it out with three other CEOs for the coveted African Banker of the Year award.

African Banker publisher and awards committee chair Omar Ben Yedder hailed continued adoption of information technology by commercial banks, saying it had enhanced service delivery and facilitated introduction of new products.

“The banking industry is itself being disrupted by technology and has embraced this technology to develop solutions that truly benefit the real economy. Financial inclusion lies at the heart of formalising our industries and fintech is playing a role in bringing finance to the masses,” he said.

The awards are sponsored by The African Guarantee Fund and The Bank of Industry under patronage of the African Development Bank (AfDB). AfDB will also hold its annual general meeting during the event at the Gaviota by the Sofitel Sipopo.

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Ecobank, Equity Group and TDK together with three other banks will fight out for the African Bank of the Year with Ecobank and KCB Group joining three other banks to scramble for the Best Retail Bank in Africa award.

The award for Financial Inclusion category has attracted Kenya’s 4G Capital together with four other banks while Family Bank and KCB Group are competing with three others for the Innovation in Banking award.