Equity bank CEO James Mwangi. Photo/the-star.co.ke

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Equity Bank has closed seven branches in South Sudan.

The branches now reduces from twelve to five.

According to the bank, the decision was arrived at due to the devaluation of the country's currency and political instability.

Equity bank CEO James Mwangi said the closure had led to retrenchment of a number of staff in those branches.

 “We are waiting for peace to return but for now, shareholders should treat the South Sudan business as a dormant company although we will maintain the licence.” said James Mwangi.