Ambassador Erastus Mwencha Appointed Board Chairman of Equity Bank (Kenya) Ltd
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- August 27, 2020
Equity Bank (Kenya) Ltd Board has appointed Ambassador Erastus Mwencha, as the Chairman, taking over from Professor Isaac Macharia who was recently appointed Equity Group Holdings Board Chairman.
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 in 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.” 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”
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 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 a 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 the hub the economy of the region, and the role of financial institutions such as Equity will be Key.”
He added
“I am cognizant 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 optimise 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.
