{"id":3087,"date":"2019-06-14T23:53:46","date_gmt":"2019-06-14T23:53:46","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=3087"},"modified":"2026-01-11T05:30:20","modified_gmt":"2026-01-11T05:30:20","slug":"equity-bank-enters-ethiopia-market","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/06\/14\/equity-bank-enters-ethiopia-market\/","title":{"rendered":"Equity Bank Enters Ethiopia Market"},"content":{"rendered":"\n<p><strong><em>By JAMES ANYANZWA<\/em><\/strong><\/p>\n\n\n\n<p>Regional lender\nEquity Bank has set up a commercial representative office in Addis Ababa,\nEthiopia, with plans to start operations in Africa\u2019s fastest growing economy in\nJuly.<\/p>\n\n\n\n<p>The lender has\nresumed its continental expansion plan, which it halted about three years ago,\nwith a focus on entering 10 African countries by the end of this year.<\/p>\n\n\n\n<p>\u201cHaving\ncompleted Phase One of our expansion, the entry into Ethiopia is part of our\nPhase Two expansion in pursuit of our aspiration of being a Pan African Bank\nwith presence in 10 African countries by the end of the year,\u201d group chief\nexecutive officer James Mwangi said on Thursday.<\/p>\n\n\n\n<p>\u201cThis will\nenable the bank to continue to scale up and unlock economies of scale\nespecially in this era of digitization and virtualization of banking.<\/p>\n\n\n\n<p>Ethiopia is\nranked by the International Monetary Fund as Africa\u2019s fastest growing economy.<\/p>\n\n\n\n<p>Equity Bank\u2019s\nmove comes after it announced its intentions to acquire 6.27 per cent\nshareholding in Atlas Mara Ltd at an estimated cost of Ksh10.7 billion ($107\nmillion).<\/p>\n\n\n\n<p>The Sub-Saharan\nAfrican Atlas Mara Ltd, which was founded by former Barclays Plc chief\nexecutive Bob Diamond is relinquishing to Equity its operations in four markets\n\u2013 Mozambique, Rwanda, Tanzania and Zambia.<\/p>\n\n\n\n<p>Equity Bank,\nwith more than 13.5 million customers and 289 branches across the region, has\noperations in Kenya, Uganda, Rwanda, Tanzania, South Sudan and the Democratic\nRepublic of Congo\u2026<a href=\"https:\/\/www.theeastafrican.co.ke\/business\/Equity-Bank-enters-Ethiopia-market\/2560-5156106-nvlpnl\/index.html\">Read more&gt;&gt;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By JAMES ANYANZWA Regional lender Equity Bank has set up a commercial representative office in Addis Ababa, Ethiopia, with plans to start operations in Africa\u2019s fastest growing economy in July.&hellip;<\/p>\n","protected":false},"author":3,"featured_media":3088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[101],"tags":[],"class_list":["post-3087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/3087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=3087"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/3087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/3088"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=3087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=3087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=3087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}