Equity Bank launches Eazzy Stock Financing platform to empower businesses

Equity bank aims to address the challenges faced by businesses such as cash flow management, seasonal demands and inventory optimization through the new lending service(Eazzy Stock Financing product)

Equity bank seeks to address the challenges faced by businesses such as cash flow management, seasonal demands and inventory optimization ...

Equity Group ranked world’s 4th strongest banking brand

by Ronald Mayega | Reporter

27/03/2023

Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100 Equity Group, East and ...

Rose Ahebwa claims she lost Shs47m on her Equity Bank account on 18th December, 2022.

Preliminary reports point at negligence in Rose Aheebwa, Equity Bank Uganda missing cash claims

by OUR REPORTER | UG STANDARD

25/02/2023

Rose Ahebwa claims she lost Shs47m on her Equity Bank account on 18th December, 2022. Rose Ahebwa has been on ...

Another huge fraud scandal hits Equity Bank Uganda as customer loses UGX.47m

by OUR REPORTER | UG STANDARD

09/02/2023

Rose Ahebwa claims she lost Shs47m on her Equity Bank account on 18th December, 2022. Equity Bank Uganda has said ...

Anthony Kituuka holds an MBA in Oil and Gas from Middlesex University, London and a Bachelor’s Degree in Statistics and Applied Economics from Makerere University, Uganda (PHOTO/Courtesy)

A Budonian, Makerererean and AISECer, who is passionate about his work and community: 6 things you need to know about Anthony Kituuka

by OUR REPORTER | UG STANDARD

02/12/2022

Anthony Kituuka holds an MBA in Oil and Gas from Middlesex University, London and a Bachelor’s Degree in Statistics and ...

Samuel Kirubi, has been promoted to the position of GCOO from his current role of Managing Director of Equity Bank Uganda

Equity appoints Samuel Kirubi as Group Chief Operating Officer

by Julian Ninsiima | Reporter

21/11/2022

Samuel Kirubi, has been promoted to the position of GCOO from his current role of Managing Director of Equity Bank ...

PROFILE: Who is Anthony Kituuka, the new Equity Bank Uganda Managing Director

by OUR REPORTER | UG STANDARD

21/11/2022

Anthony Kituuka holds an MBA in Oil and Gas from Middlesex University, London and a Bachelor’s Degree in Statistics and ...

Equity Bank has launched a Contact Centre (PHOTO/Courtesy)

Equity Bank unveils High-Tech centre to address customer queries

by MANFRED TUMUSIIME | UG STANDARD REPORTER

06/10/2022

Equity Bank has launched a Contact Centre (PHOTO/Courtesy) KAMPALA —Equity bank has launched a high-tech contact centre to improve customer ...

Staff of Flutterwave at a past event. PHOTO/COURTESY

Court freezes Flutterwave’s Shs12b over money laundering

by JOSEPH NSIMBI | UG STANDARD REPORTER

01/09/2022

Staff of Flutterwave at a past event (PHOTO/File) The High Court of Kenya has ordered the freezing of Sh400.6 million ...

Equity Bank Uganda has launched investigations into cases of fraud surrounding their Stock Loan and Agent Float financing that happened recently. The Stock Loan product is a credit facility meant to support entrepreneurs, small and medium-sized enterprises (SMEs), and large businesses across various sectors with working capital for growth and expansion. ‘Agency float financing’ on the other hand is a loan product to support Equi Duuka Agents with float to continue running their agency businesses. The fraud is expected to have affected about 65 billion shillings. Equity management says they are investigating to find out what exactly happened and who was involved, including staff and customers. "People of interest, including a few of our staff and customers, are currently assisting with investigations by the relevant law enforcement authorities," the Bank says in a statement. It also said that it would take action on anyone found to have been involved, in a bid to uphold their standards in serving their clients. "We hold ourselves to the highest standards of accountability and transparency, and the person/s found to be responsible, whether through fraud or errors of commission or omission will be fully addressed by the policies, procedures, and ethical values of the organization and, where appropriate, the laws of the country." Despite this huge amount of money involved, Equity says services to their customers will not be affected or disrupted. "Despite this investigation, customers will continue to access loans across all our branches countrywide and banking channels uninterrupted," the statement says. It adds that the Board of Directors and management are committed to resolving and concluding this matter, and "we continue to focus on our purpose of transforming lives, giving dignity, and expanding opportunities for wealth creation." It is not yet clear whether this fraud is an outright theft of money or a result of an error on the side of the bank's staff, but the management says all this will be revealed during their investigations. Over the last 16 years, Equity Bank Uganda has built a branch network of more than 9,000 Equi Duuka agents and 58 ATMs spread across the country and serving over 2 million customers. Equity Bank Uganda is one of the major banks that have met the Bank of Uganda's recently revised minimum capital requirements, which are meant to strengthen the Financial sector against any shocks. The subsidiary of Equity Group Holdings Ple, a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange, boasts an asset base of 3.5 trillion shillings as of September 30, 2023.

SPOTLIGHT: How Equity Bank, MTN are aiding Money laundering through agency banking scam

by OUR REPORTER | UG STANDARD

11/07/2022

Equity Bank Uganda and MTN Uganda have come under fire for aiding Money laundering (PHOTO /Courtesy) KAMPALA —Equity Bank Uganda ...

Tag: Equity Bank