2,144 Students BENEFIT From

Africa’s Success Equity expands Agency Banking is launched footprint to revolutionizes http://www.youtube.com/ Rwanda financial access africasuccess Pg 3 Pg 7 (PICTORIAL) Pg 11

APRIL 2012

EquityA QUARTERLY NEWS PUBLICATIONNews OF EQUITY BANK www.equitybank.co.ke NOT FOR SALE Issue 04 2,144 students benefit from scholarships in 2012 The MasterCard Foundation and Equity Group Foundation initiative which targets 10,000 scholarships has grown from a $50m to $67m fund with support of additional partners including USAID Kenya & UKAid

President Kibaki poses for a photograph soon after commissioning the 2012 Wings to Fly program

ver 2,000 academically gifted by President Mwai Kibaki at a colourful their district in the Kenya Certificate children from needy back- ceremony held at the Kasarani gym- of Primary Education (KCPE) exami- Equity Bank posts Ksh12.83 grounds received full educa- nasium in February. In branded white nation. Finalists were selected based Otional scholarships in 2012 t-shirts and waving Vision 2030 flags, on a transparent criteria that defined billion Pre-Tax profit that guarantees their secondary educa- the enthusiastic students were the very economic need and vulnerability. The tion for the next four years. picture of hope and promise. finalists were then interviewed by the Equity Bank withstood a challenging financial The scholarship initiative, under the President Kibaki called the commis- District Scholarship Selection Board environment characterized by high lending rates, brand name Wings To Fly is a partner- sioning of the 2012 class his ‘happiest (DSSB) who selected the most deserv- weakened shilling and runaway inflation to realize an ship between Equity Bank, Equity Group day’. “Personally, I have never been hap- ing students for the scholarship. impressive Ksh12.83 billion pre-tax profit. Foundation and The MasterCard Foun- pier than a day like today, because the Speaking during the launch, the Announcing the results at an investors briefing dation with support from USAID and more I see the number of children going President and CEO of The MasterCard held at the Bank’s Head Office at Equity Centre in UKAID and will cater for school fees, through and finishing high school and Foundation Reeta Roy said that the Nairobi, Equity Bank Group CEO Dr James Mwangi pocket money, shopping, books and further, the better I feel”, he said. scholarship initiative was an investment attributed the impressive results to a keen focus on uniforms for the students. The program identifies students The 2012 program was commissioned who ranked in the top 5 percentile in Continued on pg. 12 Continued on pg. 12 2 equity News Seeking Wings to Fly Nearly 15,000 applicants turned up n every participating dis- of bright children”. pation. All of them hoped to hear trict, a District Scholarship The selection of the most deserv- their names called out. Selection Board sat to re- ing students also included a home Clinton Otieno, 15, didn’t hear ceive, shortlist, interview verification visit by the DSSB after his name. He scored 356 marks in and verify through home the initial interview. While at the in- his KCPE exam but barely missed visits, the most deserving terview room the students had ex- out on the competitive scholarship. and qualified students to plained - some through tears - the “I will make it next time”, he says, be awarded the Wings To situations they had to overcome, eyes glinting through tears and a Fly scholarships. The stories were coming face to face with those re- steely resolve. “Even if I have to re- Ias varied as they were moving. alities at the homes was quite an peat standard eight”. These young They had one thing in common, experience for the DSSB. people are endowed with academic these were children who had come talent, and a strong resolve to keep through a difficult past. But that Looking beyond their current trying until they make it. did not derail them from their fo- circumstances Some of those who secured cus. Armed with determination and A dusty narrow pathway leads past Wings To Fly scholarships told sto- hope, they had triumphed beyond tin-walled houses, trenches and ries of determination. Some had their current circumstances. They graffiti-plastered walls. Young peo- left school many years ago as they were now looking forward with the ple sit around in groups chatting could not afford to transit to sec- same hope and determination, to the day away. Here, the Selection ondary school. On hearing about secure a Wings To Fly scholarship to District Scholars Selection Board members at a home verification team is told, dreams die young; lost the Wings To Fly program, they re- see them through their secondary visit at the Ebenezer IDP camp in Gilgil in a miasma of crippling poverty turned to school to try their luck. school education. and hopelessness. Such was the story told by Aurelia Annalis Jepkosgei sat in front of For Jepkosgei and thousands Indeed, Equity Bank branches Mary Wangari calls Korogocho Atyang who is 28 years old. Aurelia the District Scholarship Selection of other candidates who had per- and agents throughout the country slum in Nairobi’s Eastlands home. returned to school after 14 years, Board (DSSB) in Eldoret town. Ac- formed well in the 2011 KCPE exam, were inundated with enquiries and She shares a tiny house with her during which she got married and companied by her father Francis the announcement of the 2012 registrations for the competitive family. The house is hardly enough was blessed with two children. She Kirwa, Jepkosgei had travelled from Wings To Fly academic scholarship scholarship program soon after the for the entire family. This, Wangari is now a Wings To Fly Scholar at Cheptiret village, some 50 kilome- program was a once-in-a lifetime announcement, with each candi- says, is not the life she envisions Kitale Girls secondary school. tres from Eldoret town. opportunity; one that would de- date hoping for a chance to be se- for her future. “I want to be a doc- A similar story was told by Pe- “I want to be an accountant in termine if they would transition to lected. tor, and I want to help my family”, ter Mwenda, a former street boy. future”, the 13 year-old girl told the secondary school and attain their “You can see the enormous inter- she says, her voice catching. Mary is Mwenda had been on the streets DSSB, whose members included future dreams. est this scholarship program has now a Wings To Fly scholar attend- for six years, after he dropped out Rev. Cornelius Korir, the Bishop of “ This scholarship program is a generated”, said David Kabunge, ing Mary Hill Girls High School of school in standard six follow- the Eldoret Catholic Parish. Jepkos- very important initiative towards an Equity Agent at Sawagongo It was late evening as the Se- ing the death of his father. He said gei is now pursuing her secondary enabling gifted students to attend town centre in Siaya district as he lection Board at Amagoro centre he heard about the program and school education at Alliance Girls high school, and ultimately towards received forms from prospective in Malaba wrapped up the selec- decided to return to school. He is High School through the Wings To the achievement of Kenya’s Vision candidates. “It shows the impact tion interviews. Outside, students currently pursuing his secondary Fly scholarship. 2030”, said Bishop Korir. this program will have in the future clutched their certificates in antici- education at Ikuu Boys High school.

Scholars inducted into wings to fly ohamed Katana Equity Group Foundation and Bank staff, stood outside the primarily on conduct, scholarly expecta- Kasarani gymna- tions and responsibility. sium, staring at The scholars also had the opportunity of the dome in awe. receiving counsel from mentors including Like many other the Equity Group Foundation Chairman students, he was Dr. James Mwangi, Reeta Roy, The Presi- visiting the city for dent and CEO of The MasterCard Founda- the first time. It was a long way from Muo- tion in an interactive forum. Mroto slum in Tudor Mombasa, where the “Each one of you deserves to be here”, 15 year-old boy moved after he lost his said Reeta Roy. “It’s a wonderful experi- mother; a life he never thought he would ence for me being here with you.” escape. Reeta reminded the students of the But here he was, ready to be inducted responsibilities that life placed on them into the Wings To Fly academic scholar- as a result of their scholarly ability. “You ship program, and indeed into a complete have the chance to be who you want to way of life. become in life, but you have to be focused “It’s amazing. I can’t believe I am here, at school and put in a lot of hard work”. and on my way to school”, gushed Katana. Dr. Mwangi advised the students to Successful candidates of the Wings To embrace a lifestyle of discipline at school Wings To Fly scholars at the induction session held at Moi Sports Centre, Kasarani Fly 2012 scholarship program gathered at and shun any negative peer influence. gymnasium the Moi International Sports Center Kasa- “You have been selected from many other rani gymnasium for a 3-day induction pro- deserving students. The only thing we re- gram in February that would culminate in quire from you is commitment”, said Dr. You have the chance to be who you the official commissioning presided over Mwangi. by President Kibaki. The induction was a time of learning, want to become in life, but you have In the course of the induction period, acclimatizing to a new environment, but the students interacted with scholars un- also of friendship. “It’s different and re- to be focused at school and put in a der the Equity Bank university sponsor- freshing, meeting other students from “lot of hard work. - Dr. James Mwangi ship program who also served as chaper- various places”, said Naomi Njeri from ones, and benefitted from mentorship by Molo. equity News 3 MESSAGE FROM THE TEAM LEADER e would guidance and mentoring to ensure they like to achieve their full potential. thank our In the same year, and through our Fi- custom- nancial Literacy program (FiKA) in part- ers once nership with The MasterCard Foundation, again for we trained over 300,000 youth and wom- standing en across the country. The impact of this with Eq- program has been very inspiring. More uity Bank people continue to enroll for the training in 2011. It was a difficult year both lo- and to utilize the knowledge to improve Wcally and internationally. At home, the their money management and business country continued to experience a high skills. inflation rate which saw a rise in interest The Agency banking has been well re- rates across the financial sector. At Equity ceived in the market and is truly taking Bank, we took a bold step, in the interest financial access to the last mile. We have of our customers to delay our interest rate started to see small market centers turn- adjustment until November 15th when we ing into cash economies thanks to “Equity adjusted to 24% while elsewhere interest Ndio Hii Hapa”. Agency banking is bring- rates were upwards of 32%. Although this ing happiness to many communities as position made us cede our lead position they join the financial system and share in in terms of profitability, we saw a reward- the financial resources allocation. ing impact from our customers who re- We have also officially launched Equity sponded with prompt loan repayments Bank Rwanda. This is a market that has giving Equity Bank the best loan book in received Equity Bank very well. The its history. Minister for Finance in Rwanda, Hon. John 2011 was also a year when we scaled up Rwangombwa presided over the official our social programs through Equity Group launch. While welcoming Equity Bank to Foundation. The Wings To Fly scholarship, Rwanda, he noted that the Equity Bank a partnership between The MasterCard business model of broadening financial Foundation and Equity Group Foundation access and deepening financial inclusion which began in 2010 grew from a $50 mil- is well aligned with the government’s lion to a $67 million fund with the support development strategy as outlined in of UKAID and USAID. By the end of 2011, Vision 2020. the initiative had secured scholarships for In our commitment to offer customer nearly 7,300 students which is part of a driven services, we continued to invest 10,000 scholarship target. The program in human resource talent search and is unique in that besides providing these development. We are now well equipped academically gifted yet economically dis- to serve our SME sector majority of whom advantaged students with tuition, books, are our customers who have grown with uniforms, and pocket money, they also us and we are truly proud to see how they receive leadership development, career have created competitive enterprises. In our commitment to offer customer driven services, we continued to invest in human resource talent Dr. James Mwangi search and development. Equity Bank launches YouTube channel Equity Bank has launched the Africa Success Channel on YouTube. picting Africa as a place of hope and potential where individuals The channel is a growing depository of success stories as told by and organisations are working hard to develop home grown solu- the people themselves, some of them our customers, about their tions that will propel Africa forward. inspiring journey of transformation. The aim is to make The Africa Success the development channel Equity Bank felt the obligation to create this platform, to har- for Africa in the long term by continuously collecting and deposit- ness in one place positive stories that create hope and motivation. ing stories that portray the continent’s initiatives to unlock its As a global channel, we believe the stories will contribute in de- potential.

One At this year’s “Wings to Fly” launch, the nation listened to the inspirational stories of our young story canscholars and was moved to tears. Many were also moved to action, to do more to change help. We believe that in telling such stories … true stories by us and for us, we will celebrate a nation African achievements and inspire change. Be inspired. Watch Africa Success Stories on YouTube. Grace Wanjiru Mwai An Africa Success Story Wings to Fly, Class of 2012 Celebrating Africa’s Achievement. www.youtube.com/africasuccess Success Inspiring Change. 4 equity News Letters to the editor Guest writer I want to learn financial skills was recently at Equity Bank Kericho I am a middle aged man, industri- Wings To Fly program a branch and while on the queue, an ous though not formally employed. I do Askari handed me the Equity News dairy keeping, farming as well as pastoral publication – Issue 3 September work. I want to change the course of my blessing to secondary schools 2011. life by re-aligning my way of doing things What impacted me most is the especially in saving and investing. This I ew people may ap- trotting from one place to the other in IFinancial Knowledge for Africa (FiKA) direly need. preciate the posi- search of sponsorship from corporates and financial education program. Coinciden- Please give me more information on tive impact of the individuals of goodwill. tally, a graduation ceremony held in Kilifi how I can be trained in this financial edu- Wings To Fly schol- The Kenya High school, for example, 60 happened to run on TV the same evening. cation program. I would like to be linked arship program on students out of a Form 1 class of 280 come I saw the graduates giving testimonies of to the relevant contact person for further the schools where from family backgrounds which cannot success. What a coincidence! consultations. Thank you for every suc- these scholars are provide for their education. Needless to I have never heard of this before, let cessful endeavor that Equity Bank is do- admitted. The im- say, students admitted to The Kenya High alone to learn that the program has ing to lift us up in every possible avenue. mediate beneficia- are above average academic achievers. To graduated 130,000 so far. Though I read ry is of course the ensure that these students remain in school, that this program zeroes in on youth and Pastor David Ray Langat, scholar who gets the Board of Governors (BOG) invests a lot women, I yearn to be capacitated by it. Kericho guaranteed access of time and focus on sourcing for funding to to his/her dream support the financing of education for these secondary school. students. That the scholars There is no doubt that a school’s core busi- From the Editor are equipped with ness is to see that learning takes place. Every hank you very much Pastor Langat for expressing your interest their school fees other activity or program in a school is sec- to enroll for the Financial Literacy (FiKA) program. The FiKA as well as all their personal needs including ondary and supplementary. The time spent program is a partnership between Equity Group Foundation and shopping, travel expenses and even pocket in mobilising funds for the needy students is The MasterCard Foundation. The program is targeting to train money is great news to any recipient of this therefore at the expense of quality supervi- one million youth and women in Kenya by 2013. The aim of FiKA coveted scholarship. Add the mentoring com- sion of the learning process by the Principal. is give beneficiaries a pathway to greater financial access as well Fponent and one can confidently say that the With 55 students under the comprehensive as provide them with financial advisory services to help develop, Wings To Fly scholars are fully provided for! It Wings To Fly sponsorship package, an enor- strengthen and grow their businesses. Any Kenyan interested in greatly inspires to see the Equity Group Foun- mous headache has been off loaded from the enrolling for FiKA is free to visit an Equity Bank branch nearby. A FiKA trainer in dation and the Bank staff regularly call in at school management. Tthe branch will advise them on how to enroll. The training is free and it takes 12 the school to encourage the scholars. In addition to significantly giving the weeks to complete. It is offered to groups and the trainees agree with our trainers The second obvious beneficiary is the Principal and the school management on the best time of the day to attend the training every week. We wish you all the guardian. For most parents, taking a child the peace of mind necessary for effective best and hope that soon you will be a FiKA graduate. to Form 1 is a momentous achievement that management of the school, the Wings To comes with a daunting financial responsibility. Fly Program has also reduced the stress that To many parents this is actually a project that a student goes through when faced with a requires one to start saving several months fees balance. There is the anxiety that the in advance. That a child or dependant can student may be sent home any time which report to a secondary school for Form 1 being seriously affects the concentration levels of Our financial saviour fully provided for is a miracle many struggling the student. The student also suffers from low parents would do anything to benefit from. self esteem because of that disturbing feeling am very much interested in your getting scholarships.I am in Standard The third great beneficiary of this that she is inferior to the others who are fully Equity newspaper, especially see- eight and I am interested in poetry. scholarship program is the school where provided for by their families. ing that you are educating Ke- I have written a poem about Equity these scholars are admitted. Many people We applaud Equity Bank, Equity Group nyans on how to achieve higher Bank titled, “Equity Bank Financial may not know the energies that Principals Foundation and their Partners for this great education. I have read in the Saviour”, that I want to share. spend in trying to secure funding for students intervention and appreciate that more newspaper about young people admitted to their schools from family partners have joined in to ensure that children I backgrounds which can hardly provide for the from disadvantaged family backgrounds have children. A lot of efforts are made to ensure equal opportunities to access secondary ost low income earners never thought of ever operating an that all students remain in school in spite school education in schools of their choice account, conditions and operating capital was out of their of the budgetary constraints. Many schools and qualification. reach. One morning a financial institution was opened by the have an endowment fund to take care of name Equity Building Society. Banks had this to say: how do scholars from deprived backgrounds. Other By Mrs. Rosemary Saina, you put your money in a small financial institution? The young school managements have found themselves Principal, Kenya High School Minstitution didn’t tremble and wasn’t shaken. Continued serving low earners with commitment and dedication; Your Listening Caring Partner was the motto. You could talk to the manager without conditions; same day transactions etc. Today the bank is Equity Bank; in Kenya and spreading its wings worldwide.

Its objective to grow with you; easy access to your cash from your house or at work, scholarships for education growth.

Dr. James Mwangi and the entire management, May God bless you, and may Equity remain on top, And get more Wings To Fly!

Racheal Okiya, P.O.Box 26827-00100 Nairobi

From the Editor Dear Rachel, We are very humbled by your very inspirational poem. As a young Kenyan, your poem demonstrates your deep interest in the prosperity of our people. You are a good example of how Kenya will look like in the future if the young people take time to understand and contribute to building the Kenya we want. You are a true Vision 2030 generation. We wish you all the best in your studies and we will be happy to know how you are progressing in school. Keep visiting your nearest Equity Bank or Equity Agent to pick a free copy of The Equity Newspaper every quarter of the year. equity News 5 Faces of determination Junior Wisdom Orengo Updates on Wisdom Orengo doesn’t know his birth parents or if he has siblings. His earliest recollection is of living in a children’s home in Kanduyi when he was a little boy. Wings To Fly When the children’s home closed in 2006, Orengo was placed in a foster home, which he ran away from soon after due to mistreatment. “I lived in the streets for months before I hiked a lift to Nairobi on a truck”, explains Scholars Orengo. With no home, Orengo was again forced into the streets, where he lived ...Soaring High for six months. “Life was extremely hard; I slept outside a church compound with little hope for the future”, says Orengo. Students under the Wings To Fly scholarship Fortunately one day a well-wisher spotted Orengo and invited him to his program continue to excel in class as well as in extra- home and later officially adopted him. This would mark a turn-around in the curricular activities at their schools; showing keen young boy’s life as he was finally able to go back to school. determination and promise. Orengo scored 419 marks in his KCPE exam, earning him the Wings To Fly scholarship. He now envisions a life full of promise. “I am very grateful for Hannah Wanjiku Ng’endo this scholarship as I see my dreams come true. Finishing school and getting a good job will enable me also help other needy children who could be in the Hannah is a Wings To Fly same predicament as I was”, enthuses Orengo, who has been admitted to scholar currently in Form Maseno High school. Orengo faces the DSSB in Kayole, Nairobi three at Loreto High School, Limuru. During her primary school years, Evans Ronoh Hannah was supported vans Ronoh walks through the gate to a by the principal of her raucous welcome. He walks with a new spring school, Neema Junior in his step and beams with a smile. He has just Academy since she was a been selected for the Wings To Fly scholarship very bright student and program and he can’t wait to share the good the situation at home was news. financially challenging. The whole clan is here to celebrate. This is When she reported to form one she scored a B + and Ethe second good news in as many days since he brought was placed position 22 out of 244 students. But having home his results slip. Ululations rend the air as the family settled down well, she found her proper ground and has celebrates before kneeling down for prayer. continued to improve and scores between first and sec- Ronoh is the pride of his family. He scored 386 marks ond position in her class. Hanna Aspires to become an in his KCPE exam, a remarkable feat considering the road accountant. he has travelled. Ronoh’s father died when he was still in nursery school. His mother is ailing, making it hard for her to do manual work. Victor Otii Even with the difficult circumstances at home, Ronoh Patasila and her mother Siten prepare a meal Otii is a 2011 Wings To was determined to succeed. Sitting in his thatch-roofed Fly scholar from Eldoret, hut at night, he studied using light from an improvised Nelly Patasila Uasin Gishu County. He lamp made from a plastic bottle and a log for a table. was brought up by his With his good grades, Ronoh secured the Wings To Nelly Patasila is from a humble background. Patasila has learnt grandfather who passed Fly scholarship. “The thing I really want to do is help my to burn charcoal which has been the main source of the family’s away leaving him in the mother and our family”, says the 15 year-old boy. livelihood. She Picks a tin can and proceeds to collect small pieces care of relatives and well of charcoal from the demolished kiln within the compound. “My wishers. At one point he mother sells charcoal and my father does not have a job,” she says. had to work as a herdsboy Patasila was among the best performers in the KCPE exams which to fend for himself. Otii is she sat at St Mary’s School in Lodwar town. Patasila’s mother Lydia currently in Form two at Siten says she struggled to get her through school. “school fees Kapsabet High School where he is a school prefect and is difficult to come by, very difficult yet I want the child to study. I has been number one in his class throughout his first struggle for her to succeed,” says Siten. year in spite of leadership responsibilities. He hopes to Patasila is the envy of her colleagues at her former school where be a doctor. she donated her uniform after exams in the spirit of giving at Christmas. When this writer visited the home a ‘Merry Christmas’ emblazoned on a red mud wall was still intact keeping the good Naila Mohamed cheer at the home in spite of the circumstances. “We encourage Naila Mohamed is from them to give and they do so happily. When you go to secondary Wasini Island off the school or transfer to another school we train them to donate. Even southern Indian Ocean their parents have embraced the practice”, says the Head teacher coast of Kenya. Naila, of St Mary’s Celina Letiwa. The head teacher said the initiative who joined the program to sponsor girls to high school has saved many like Patasila who in its inaugural year 2010, would otherwise have dropped out of school in spite of their good is now a form three stu- performance. “If they drop out of school that is their end as they dent at Matuga Girls High have no other way to fend for their life but to join in destruction of school in Kwale district. forests to burn charcoal start brewing illicit liquor or resort to early Naila has displayed Ronoh studies in his room marriage”. Teacher Letiwa says. remarkable leadership skills; being elected the Chairperson of the Muslim Society in her school. She is Timothy Mugao soned arrows.” a silver lining to his ordeal after he was also the deputy school captain, a position she was ap- For Timothy Mugao, life couldn’t have Mugao’s father was murdered in 2007, awarded the scholarship that will ensure pointed to in Form two. Naila hopes to become a doctor dealt the 14 year-old boy a more cruel a situation that forced the family to aban- he acquires his secondary education. in future; a choice that has been informed by the situ- fate than to lose his mother a mere few don their home and kept them on the The challenges that Mugao has en- ation in Wasini Island which has a high infant mortality weeks to the KCPE exam date; making run for the next three years. Despite the countered in life have only served to rate. “There is need for me to be a doctor so that I can him an orphan. obstacles, Mugao managed an impres- strengthen his resolve to succeed. “After help my people. We only have a dispensary for the whole “My mother died in September. I was sive 375 out of a possible 500 marks. He I make it in school, and I am working, I population”, she explains. Emerging one of the top stu- studying in my room. That evening, some believes he could have performed much want to improve the security in my area dents in the district was a great feat for Naila, who says people came to the house through the better were it not for the circumstances. and ensure people live in peace, says cultural practices discourage school attendance espe- back door. They stabbed her with poi- His remarkable performance provided Mugao who comes from Tharaka County. cially for the girl child on the island. 6 equity News EQUITY BANK AT A GLANCE 1 2

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1. Janet Santero from Ongata Rongai receives FiKA certificate from Prof Leah Marangu, the V.C. Nazarene University 2. Dr. James Mwangi after he was named African Banker of the Year at an event held in Washington, DC, 2011 3. Dr. James Mwangi receives the Africa Leadership Network (ALN) Award from Fred Swaniker, the CEO of ALN during the ALN awards ceremony in Addis Ababa, Ethiopia, 2011 4. Karima Girls High school students perform a dance during the Equity-Bank co-sponsored Winners Concert at the Bomas of Kenya, Nairobi, 2011 5. High school students attend the December School organized by USAID-Kenya in partnership with Equity Bank and Equity Group Foundation.The December School was held at Precious Blood Girls High School, Riruta 6. David Kigen from Equity Bank Bondo branch plants a tree during a tree-planting drive held at Gundarut primary 7. Dr. Benson Chuma, Health Programs manager at the Equity Group Foundation attends to a child during a health clinic held at the Ebenezer Children’s Home in Kahawa West 8. Equity Bank Men’s basketball team in action during the Inter-bank games competition held at the Kenya School of Monetary Studies in 2011 9. Staff from the I.T. Department visit Teule Children’s Home in Loitokitok 9 equity News 7 Equity Bank Rwanda Launched

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10. Rwanda President Paul Kagame (centre) poses for a group photo with Equity Bank Group Directors (front row L-R) Benson Wairegi, Chairman Peter Munga, Group MD Dr James Mwangi and Rwanda Finance Minister John Rwangobwa as Strategy Director Mary Wamae, Equity Bank Rwanda Chairman, David Ansell, Rwanda Central Bank Governor Amb. Claver Gatete and Equity Rwanda Country Managing Director Samuel Kirubi on the back- row look on 11. Finance Minister John Rwangombwa arrives for the launch of Equity Bank Rwanda. He is accompanied by Equity Group Chairman Peter Munga (l) and CEO Dr. James Mwangi 12. Governor of the Central Bank of Rwanda, Ambassador Claver Gatete addresses the audience during the launch event 13. The plaque commemorating the official launch of Equity Bank Rwanda 14. Finance Minister, John Rwangombwa signs the visitors book after opening the Head Office branch 15. Regina Mukasano BGDM Nyarugenge Branch was the master of ceremonies at a staff dinner hosted by the group CEO and attended by the Board of Directors & customers from Equity Bank Kenya 16. Dr. James Mwangi introduces Equity Bank Board of Directors and senior management during the launch event 17. Dr. Mwangi introduces Bank customers from Equity Bank Kenya to the audience during the launch 18. Equity Bank Rwanda Head Office in Kigali City. Inset Rwanda branches. From top: Nyabugogo, Nyarugenge and 19. Muhanga 18 20. Rwandese traditional dancers entertain guests at the Equity Bank Rwanda launch dinner 8 equity News 250 scholars join Equity Bank University Sponsorship Program 1290 scholars have so far benefited from the program

he 2012 Equity Bank Univer- sity Sponsorship program was Tcommissioned at a colourful ceremony on 2nd April 2012 at the KICC with 250 students who topped their district in the 2011 Kenya Certificate of Secondary Education (KCSE) exam joining the program. This year’s class brings to in total 1,290 students who have benefitted from the program since its inception in 1998. Samuel Kirubi, the first beneficiary of the program is currently the Managing Director of Equity Bank Rwanda while others are serving in various other organi- zations. The program identifies the top boy and girl from each district that Equity Bank operates. Speaking during the commissioning ceremony, Equity Bank CEO Dr James Mwangi said that the essence of the university sponsorship was to nurture human capital as well as develop transforma- tional and valuebased leadership as the country seeks to achieve Vision 2030. “This program is not about getting the scholarship or earning money, but rather developing the leadership of this country at a young age and inculcating a The 2012 Equity Bank university sponsorship class pose for a photo outside KICC after the launch. In the front row, Assistant Minister for competitive work ethic”, said Dr Education Hon. Calist Mwatela (fifth from left), Prof. Margaret Kamar, Minister for Higher Education flanked by Equity Bank CEO, Dr. James Mwangi. He noted that the wide Mwangi and Equity Bank Chairman Peter Munga spectrum and reach of the program would effectively enhance national citizenry. Speaking at the launch, the Assistant Minis- ter for Education Calist Mwatela who represented the Minister for Education, Hon Mutula Kilonzo as Chief Guest lauded Equity Bank for the program, noting that it was in tandem with public-private partnership in promoting education. The Minister for Higher Edu- cation Prof. Margaret Kamar reminded the scholars that with their academic endowment and gifting came great responsibility. “We believe you are leaders by choice, not by chance. Embrace responsibility and professionalism in your conduct”, she advised. Prior to the launch, the scholars underwent an intensive two-week training during which they were The Minister for Higher Education Prof. Margaret Kamar hands over Aseta Faith, the 2nd best girl in the 2011 KCSE receives her mentored into the Bank’s culture, sponsorship letter to Job Nalianya, the top student in the 2011 KCSE sponsorship letter from Assistant Minister for Education Hon. and received leadership training Calist Mwatela as CEO Dr James Mwangi looks on from a wide array of professionals district; it involves going back and nology, London School of Econom- and Equity Bank staff as they pre- giving to the community and sup- ics, University of Pennsylvania, Foundation in partnership with from a $50 million to $67 million pared to join the Bank for their in- porting others”, said Kevin Njogu. Seoul National University in South The MasterCard Foundation and fund with the support of addi- ternship program. The university sponsorship also Korea, Smith College, Princeton, with support from USAID commis- tional partners including UKaid Speaking during the launch cer- supports students to seek admis- Duke, Brown, Bowding College, sioned the 2012 Wings to Fly sec- who extended a USD 5 million emony, the scholars testified of sions to world-leading universi- Cornell University among others. ondary scholarships that saw 2,144 grant and USAID extended a grant a complete mindset change and ties. So far, 65 students under the Equity Bank has been at the needy but bright children awarded of USD 17.4 million. The initiative preparedness. “In the course of the program have secured places in forefront in promoting academic scholarships to attend secondary has so far secured scholarships for induction, I have learnt that lead- institutions such as Harvard, Yale, excellence in the country. Ear- school. The scholarship initiative nearly 7300 students which is part ership is not about topping the Massachusetts Institute of Tech- lier in the year, the Equity Group which began in 2010 has grown of a 10,000 scholarship target. equity News 9 Letters from Abroad Competing at world stage

tudying in the United States means nu- People would be willing to listen to you, if you have merous advantages like access to a lot of something to tell them. The stiff competition in the facilities and research opportunities as school epitomizes the current world where you not early as the freshman year. One also gets only have to do it well, but also do it best. to compare with the world’s best and Attending Olkejuado High School with realize that there is nothing intrinsically challenges typical of any other Kenyan high school Ssuperior with those from highly developed coun- and having difficulties paying school fees did not tries except their innate desire to go the extra mile. prevent me from securing a place in the University. The greatest lesson I have learnt in the process of This is part of the Kenyan dream that things will be applying to and getting the admission to University better. With this hope and optimism we now need of Pennsylvania is that it can be done. to resolve to work hard and make that dream a Interacting with students from all over the world reality. The society has entrusted us with a lot, thus and hearing their stories is a learning experience. much is expected of us. From those who did not struggle much to get into To the Wings To Fly scholars and all students; the school to those who overcame a myriad of you have indeed been given Wings To Fly through challenges; each has a story to tell. One thing is education; wings to soar to the high heavens and common in all of their stories: success! bring the change you have always wanted to see in With small class sizes, one gets a chance to Kenya and the world. In the end it really does not interact with the students and the professors on matter what challenges you faced, but rather what a one on one basis, work together and learn from you achieve. You can achieve if you go for it! each other. Both cooperation and competition are Daniel Ratemo (left) with Evans Molel, students at the University of highly encouraged. We get the idea that we have Evans Molel is a student at the Pennsylvania. Both are part of Equity Bank University Sponsorship to work together. Most of all we have to succeed. University of Pennsylvania in USA Programme

famous philosopher once said intelligent students from all over the world. “give me a place to stand and I have to study harder in order to stay at the I will move the earth.” I believe Much expected of us top of the class. I also have to get involved in that this is true for everyone. extracurricular activities in order to improve We all need somewhere to his home to the streets. My mother had to a time when I was getting ready to apply to my resume. When you get into world lead- support ourselves us in order do menial domestic work in other people’s universities abroad. My mother’s death dev- ing universities like this one, you realize that Afor us to achieve great things in life. This also homes in order to fend for us. Her wages astated me. It gave me the reason to work you are no longer competing against your applies to all of you young people and espe- earned us a roof. Amid all these, I kept my even harder, because I now bore the burden neighbour. You are in a competition with the cially those in school. The good thing is that focus in class and did well in my KCPE ex- of my siblings. The allowance I got from my whole world. And it is a good thing because Equity Bank is giving you a very solid ground aminations. I got into a provincial school and internship at Equity Bank came in handy in once you emerge as the best, it means that to make great changes in your life. These survived on CDF bursary loans and the head- paying school fees and upkeep for my family. you are the best in the world. changes are attainable for as long as you master’s benevolence. I got admitted to the University of Penn- It is widely said that whatever is conceived set your mind properly towards them. I am I am a total orphan. I did exceptionally well sylvania- one of the top universities in the in the mind can be achieved. I never gave up a good example that this success is achiev- in my KCSE examinations and received a world under a full scholarship grant. That despite the many challenges I faced in life able. scholarship from Equity Bank which entailed means that I don’t have to pay any school because I knew that was not my life. I had To begin with, I grew up in the same con- interning at my local branch. I was only three fees. Here, I receive world class educa- faith that I am destined for better things. ditions as some of you, or even worse. My weeks old in the Bank when my mother be- tion and access cutting edge technology That is what made me work harder in class. biological father abandoned my family when came ill. She was admitted at a district hos- facilities at the University. The University You also have to put in mind something I was still an infant. I have no idea what he pital. Everyone in my family expected me to also gives me a chance to travel around the positive about yourself. You can change the looks like to date. My mother, having no do something. I remember the day I earned world and get to know places. For instance, history of your family and earn respect for means to fend for us, got married to another my first salary and spent the whole of it to I am planning to travel to South Africa this yourself only if you defy all odds in your life man and life was not easy for us. My foster take her to a better hospital. But it was too summer. I also get a chance to meet very and focus on the good side of it. father died of liver cirrhosis when I was in late, the doctors said that she had meningi- important people in the world and make class 5. His other wives accused my mother tis and that the disease was so advanced due meaningful connections. However, things Daniel Ratemo is a student at the of killing him and so we were kicked out of to delayed treatment. She died. This was at are not that rosy here. I study with other very University of Pennsylvania in USA 65 admitted to World Leading Universities en scholars from the Equity Bank 2012. Two of the scholars will be joining of scholars who have gone through Equity universities in the US, UK, South Africa, university sponsorship program Harvard while the others will proceed to Bank’s mentoring and leadership program Turkey and Russia. This year, the Bank will have received their admissions Columbia, Brown, Princeton, Smith, Yale, and proceeded to study in universities sponsor 250 students, a number of whom are as ‘early desicions from leading and Duke in the United States while one abroad to 65. Those who have joined the expected to get admissions to the leading universities this year with has already left for studies at Seoul National Ivy League Schools in the last few years universities. Since inception in 14 years additional admissions expected University in South Korea. include 8 who study at Harvard University, 5 ago, 1,300 students have benefited from the Twhen the final results are released in April The admissions brings the total number at Yale University, and more than 20 in other sponsorship program. Early admissions in 2012; Sylvia Javan Felix Nashipae Oluoch more admissions are Mosiany Yale University expected in April 2012 Smith University

Trevor Lydia Katini Allan Machuka Leboo Viona Omangi Mwangasha Marube Shina Mokaya Harvard University Princeton University Harvard University Seoul National University

Joan Jebet Mercy Cheptoo Yego Brown University Bowdoin Steve Kipruto UniversityJoan Jebet Cheruiyot Davis Muthoka Mercy Cheptoo Bowdoin University Columbia University Duke University Brown University 10 equity News Full year Financial Statements 2011 equity News 11

Cosmas Lorot walks past his clothes shop to the posho mill in his shopping centre. Lorot is the Hunger Safety Net Program Equity Agent in Kalobeyei Wanjueni Wakanyi harvests cotton from his farm in Bura Equity Agent Cotton: White becomes a shopping Gold Revolution hub in Kalobeyei agiri Manene has lived in Bura tional for farmers who had not produced cot- long enough to have seen the ton in Bura and Hola irrigation schemes for osmas Lorot started out as more nutritious maize meal. fall and rise of the cotton farm- more than 2 decades. Bura Irrigation Scheme, shopkeeper at Kalobeyei, a He was encouraged to upgrade his fa- ing in the Bura Irrigation and with the support of NIB has had a success- small market place tucked at a cility to meet growing demand. He there- Settlement Scheme in Bura- ful season of cotton which has restored the roadside off Lokichoggio Ka- fore approached Equity Bank branch in MTana. Manene remembers the cotton farm- confidence in farmers that cotton is the same kuma road in Turkana County. Lodwar where he applied for a loan to ing business with nostalgia. The white gold white gold they used to cherish many years CIt is a short distance travel by car from Ka- buy a modern mill he intended to import as the cotton farmers called it was rewarding ago. The same success is expected in Hola kuma but a distance too far for the com- from abroad. in the seventies and early eighties. Massive where the first crop is cotton is nearing the munity here to make the journey to and Increased sale of foodstuff and other dilapidation of irrigation infrastructure and a harvesting season. “We restarted growing from for groceries, clothing or housing. household items was matched by in- dwindling market ground the industry almost cotton in Bura recently, says Manene add- It is at the centre that hundreds of Hun- creasing demand for another basic need, to a halt. ing that he harvests up to 3.5 tonnes of cot- ger Safety Net Programme (HSNP) ben- clothing. Lorot diversified his business to A private public partnership effort to re- ton per 1.5 acres because fertilizer is readily eficiaries come to collect their bimonthly include affordable clothes which he buys introduce cotton farming is now bearing available through credit obtained from Eq- dues donated by UKAid of the Depart- almost 200 kilometres away in Lodwar. fruit. The partnership between the Ministry uity Bank. ment for International Development Lorot’s establishment has evolved to be- of Agriculture through Cotton Development Another farmer Wanjueni Wakanyi had (DFID) through the Government of Kenya. come a social centre where residents Authority (CODA), National Irrigation Board never grown cotton. He was encouraged They come to the Equity Bank appointed come to share ideas and interact. He saw (NIB), Equity Bank, ginners as well as farmers’ by others like Manene to try his hand in the agent from whose shop a point of sale the opportunity and seized it putting up associations has resulted in the establish- fast growing crop. “In Bura we grow grade-1 gadget has been installed for disburse- an inn where residents come to enjoy ment of 800 acres under cotton. cotton. It is beneficial. Growing cotton has ment of their cash. drinks kept cool by an improvised char- CODA is the industry regulator charged enabled me to feed my children and sustain In the two years Lorot has been the coal refrigerator he constructed himself. with the responsibility of promotion of the myself”, says Wakanyi. HSNP agent his business has grown The shopping centre began to take cotton-textile value chain while the ginners What is happening in Bura is replicated in steadily courtesy of the cash transfer ben- shape when he put up decent housing for provide the market for the crop processed other areas like Mpeketoni in Lamu where eficiary clientele that opts to buy com- his family and soon there were enquiries into lint for onward sale to textile compa- farmers have embraced cotton farming as a modities from his shop mainly because for similar housing for rent. Lorot has put nies. Farmer associations ensure farmers get cash crop. The experiences are now being it is convenient and well stocked. Within up several rooms and committed to put necessary training, farm inputs, water for ir- rolled out in other parts of the country in a the year of rekindled business Lorot had up at least two units every year to estab- rigation and a fair market. Equity Bank’s role move which has potential to transform Kenya to remove a partition of his shop prem- lish the first village shopping centre in is to provide financial services ranging from from a net importer of textiles to a net ex- ises to stock up more goods. Meanwhile Kalobeyei. Currently the premises has 8 financial literacy for the farmers through Eq- porter. It is envisaged that the revitalization he realized his packaged maize meal was one room units that provide a tidy sum for uity Group Foundation, a payment system of the subsector will continue to create more not selling fast enough and invested in a the entrepreneur whose premises has be- for farmers through remittances, convenient job opportunities through commercialization posho mill. come a one stop shop for housing, food, access to finance services through Equity of agriculture increasing incomes for farmers Business has been good for Lorot as the clothing driven by an efficient financial Agents and credit for cotton production. and other players in the agriculture value community preferred the less sifted but service. The partnership has been very transforma- chain in line with Vision 2030. 12 equity News 2,144 students benefit Equity Bank now in Tanzania from scholarships in 2012 Continued from page1 in the future. “Intelligence, ingenuity this initiative . . . it’s focusing on the social and talent is distributed widely across pillar primarily in developing the education the population. What is not distributed is standard of our people. We believe that an opportunity. The vision of our Foundation is endowed human capital is the most essential to create a world where there is opportunity component of the development of Vision for all to be able to learn and prosper… we 2030”, he said. Equity Group Chairman saw huge potential here”. Peter Munga congratulated the scholars and Equity Group Foundation Chairman Dr. promised them the Bank’s full support. James Mwangi said that by offering the Now in its third year, the scholarship scholarship to bright students, the initiative initiative has offered a lifeline to deserving would play a significant role in the attainment children who would have otherwise missed of Kenya’s Vision 2030. “This talent could out on an academic experience and seen not have transited to Form 1 if it wasn’t for their dreams blighted.

Equity Bank Tanzania, Arusha Branch

quity Bank Tanzania has rolled out ex- opening a branches in Tanzania’s capital Dar panding the Bank’s footprint in the es Salam and in Arusha. A third branch is set Eregion. The Bank entered the market to open in Mwanza.

A Wings To Fly beneficiary receives his letter of sponsorship from President Mwai Kibaki. Announcing the beneficiaries is (second left) Dr. James Mwangi, Chairman Equity Group Foundation, assisted by (right) the President & CEO of The MasterCard Foundation Reeta Roy as Lee Brudvig, Charge d’affaires, United States Embassy looks on Tujijenge Equity Bank posts pamoja kwa Ksh 12.83 billion profit Continued from page1 uaminifu operational efficiency, a strong brand pull, MasterCard Foundation rolled out Financial staff productivity and diversifying on delivery Knowledge for Africa (FiKA) program that channels through a robust IT platform.“This targets to train 1 million youth and women. Fungua akaunti leo is a sterling performance. The Bank has had In 2011, over 300,000 were trained and a capacity to grow tenfold every 10 years,” he graduated after going through the free • Hakuna gharama za kuanzia said. training course. • Hakuna gharama za kila mwezi In the year, the Bank continued to focus on During the year, Equity agency banking social investment securing 7,300 academic continued to take banking nearer to the • Hakuna salio la lazima scholarships for bright and needy students people. “We have seen our customers make under the Wings To Fly program which is use of our agency outlets with 70,000 daily funded by the Equity Group Foundation in transactions at the agencies”, said Dr. Mwangi, partnership with The MasterCard Foundation adding that the number of operational agents with support from USAID and UKaid. This is had increased to over 3,000. This, he said, part of a 10,000 scholarships target by the had not only availed convenience and ease Wings To Fly program. of financial access to the customers, but had “Our aim is see the most deserving in our also reduced operational costs for the Bank. society being given support to continue with As a result, customer deposits grew by 37% education to reduce the dropout rate and to stand at Kshs 144.16 billion up from Kshs enhance the transition rate from the free 104.93 billion recorded in the previous year. KARIBU primary education to secondary education”, The Customer base grew from 5.9 million said Dr Mwangi. clients to 7.15 million effectively elevating Equity Bank, Quality Centre Mall, Nyerere Road. P.O Box 110183, Dar es Salaam, The Bank, through the Equity Group the Bank to the position of the largest bank in Cell: +255 767 909 165/+255 658 448 888/+255 782 099 222, www.equitybank.co.tz Foundation and in partnership with The Africa by customer numbers.

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