Equity Bank CEO James Mwangi on Friday, March 11 offered insights into how exactly he runs Kenya’s biggest bank.
He spoke during a morning interview on Capital FM where he discussed, among other things, his love for country music, his 31 years at Equity and the firm’s prospects and its Wings to Fly scholarship program.
“I joined Equity when it was a building society in 1991 with a vision to bring financial inclusion in Kenya,” he noted.
The bank crossed $10 Billion (Ksh1 Trillion) in assets in 2020. It operates in six African countries including its new jewel, DRC, and aims to have 100 million customers by 2025 – up from the current 16.4 million.
It was ranked among the world’s 1000 biggest banks in 2021 by The Banker magazine. It placed 22nd in Africa and 761st globally based on its Tier 1 capital base.
Mwangi has steered the company for much of its rise. Questioned on how he he continues to do it, he offered insights into his approach to management – centered on building a strong team.
“Delegation and empowerment is my management style,” he stated.
Mwangi further observed that 60% of Kenyan bank account holders banked with them. He urged Kenyans to place greater value in local goods and services.
Mwangi also spoke on the 2022 General Elections this August, urging Kenyans to register to vote in large numbers.
“Failure to vote is failure to have a leader that we believe will give us a better future,” Dr. Mwangi noted.