Equity Bank is set to commence operations in Ethiopia. The bank has already established a commercial Representative office in Ethiopia’s Capital City, Addis Ababa.
The financial institution has since named Hassan Maalim as the Head of the Commercial Representative Office. He will be based at Kazanchis. Maalim, who joined the bank in 2005, will establish a strong base in the region before the bank fully opens its doors in July 2019.
Maalim, who holds a Bachelor of Arts degree and an MBA in Finance, has expressed optimism that the bank will transform the lives of millions of Ethiopians as well as foreigners.
Confirming the new development, Equity Group CEO and MD, Dr James Mwangi said that the bank is committed to offering services to clients in different parts of the world in the near future with Ethiopia being the next destination.
“Having completed Phase one of our expansion, the entry into Ethiopia is part of our Phase Two expansion in pursuit of our aspiration of being a Pan African Bank with presence in 10 African countries by the end of the year. This will enable the Bank to continue to scale up and unlock economies of scale,” he said.
The bank looks forward to benefiting from the banking services it seeks to offer its services to Ethiopians.
Several banks have taken advantage of the ever-growing population to generate profits through services across the country.