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Ambassador Erastus Mwencha appointed board chairman of Equity Bank

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Equity Bank (Kenya) board has appointed Ambassador Erastus Mwencha, as the Chairman, taking over from Professor Isaac Macharia who was recently appointed Equity Group Holdings Board Chairman.

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Ambassador Mwencha, a career diplomat served as the Deputy Chairperson for the Africa Union Commission (AUC).

Prior to that he was the Secretary General of the Common Market for Eastern and Southern Africa (COMESA) for ten years. He is described in international circles as a Pan Africanist with years of progressive experience in policy formulation and institutional transformation at national, regional and continental levels.

Speaking when handing over the Board leadership to Amb. Mwencha, Prof Macharia said, “We are honoured to have Ambassador Mwencha taking over the Board chairmanship of Equity Bank (Kenya) Ltd. His experience at the helm of AU Commission and COMESA will be instrumental strengthening Equity Bank Kenya’s catalytic role the country’s pursuit of becoming the economic hub for the region.” He added, “Equity Bank Kenya is our leading subsidiary and a benchmark for its peers in the Group in championing strategic execution, growth and innovation.”

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He joins a highly talented Board and his leadership will be instrumental in taking the bank to its next level of growth as a technology led integrated financial services provider.” Prof Macharia added, “Despite the prevailing social economic slowdown occasioned by COVID-19 pandemic, I am confident that Ambassador Mwencha will lead the Board in supporting the management to navigate the current global COVID-19 crisis to emerge strong and thrive post the pandemic. I wish him all the best in this role and promise him our support”

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Professor Macharia, a renowned ENT specialist has been on Equity Bank (Kenya) Ltd Board for six years four of which he served as chairman. His fellow Board members described him as  “a  passionate  and  committed leader  with  overarching  positivity,  fairness  and  a  sharp  business  acumen  who  brings  the  discipline  and precision of a medical practitioner to the board.”

Speaking when welcoming Ambassador Mwencha to Equity, Dr Mwangi, the Group Chief Executive Officer of Equity Group Holdings Plc said,  “As management,  we are honoured to have  Ambassador Mwencha  as the Board  Chairman  of  Equity  Bank  (Kenya)  Ltd.  His  vast  experience  and  solid  networks  will  enrich  Equity’s international  relations and development  as we continue with our Pan African  expansion strategy. His passion and advocacy for regional integration as a driver of Africa’s development, his high values for strong institutional systems and advocacy for a continental free trade area is well aligned with Equity’s vision of championing social economic prosperity for the people of Africa.”

When taking over the Chairmanship, Ambassador Mwencha said, “It is indeed a great privilege and  honour to work  with  such  a  distinguished  board  that  has  great  diversity  of  skills,  expertise  and  experience.  Working alongside a highly energetic and talented management team, I am confident that we shall scale greater heights in  delivering  integrated  financial  solutions  that  drive  the  social  economic  engine  of  our  country.  Most importantly, I am convinced that Kenya is strategically positioned to hub t he economy of the region, and the role of financial institutions such as Equity will be Key.”

He added “I am cognisant that I am taking over this role during a difficult social economic crisis brought about by Covid-19. However, I am positive that if Kenyans adhere to the strict health protocols that the government has put in place, Kenya will reduce the spread of the virus, and embark on the recovery route much faster.  My  commitment  is  to  support  management  in  their endeavour to continuously empower and deepen our relationship with our customers and  help them to  optimize on the regional economic opportunities that are brought about by regional trading blocs such as COMESA and
East African Community. The bank is well positioned for this role, “said Ambassador Mwencha

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