Equity Bank Appoints Moses Okoth as Acting Managing Director

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Equity Bank has announced the appointment of Mr. Moses Okoth Nyabanda, the Group Chief Finance & Strategy Execution Officer, as the Acting Managing Director of Equity Bank Kenya. This appointment is subject to the approval of the Central Bank of Kenya.

The move follows the acceptance of Mr. Gerald Warui’s request for early retirement. The bank expressed its gratitude for Warui’s long-standing contribution, which included leadership roles in operations, customer service, human resources, and ultimately, as the Managing Director of Equity Bank Kenya.

Nyabanda brings a wealth of experience to the role, having previously served as the Managing Director and Country Senior Partner for PricewaterhouseCoopers (PwC) in Rwanda. His track record includes leading effective teams, strategic planning, and driving business growth in Kenya, Rwanda, Uganda, and the United Kingdom.

At PwC, Nyabanda was instrumental in driving operational efficiency, digital transformation, and cost management. Since joining Equity Group, he has been a key member of the executive team, demonstrating a strong commitment to the group’s philosophies and customer value creation.

Over the course of his career, he has established himself as a disciplined and meticulous professional, exemplifying outstanding leadership in fostering strong control environments and enhancing productivity.

The bank expressed confidence in Nyabanda’s ability to lead Equity Bank Kenya to continued sustainable growth, while enhancing customer value and employee engagement.

Read: Equity Group Posts Ksh 29.6 Billion Profit in H1 2024

Equity Group, the parent company to Equity Bank, is the largest integrated financial services firm in the region with a market capitalization of Kshs 152.8 billion as of 16th August 2024.

The group boasts an asset base of Kshs 1,746 billion, customer deposits of Kshs 1,299.5 billion, and a customer base of 20.7 million. Its extensive distribution network includes 403 branches, 84,398 agents, over 1.1 million Pay with Equity (PWE) merchants, and 37,755 Point-of-Sale (POS) Merchants.

The group’s strong brand recognition, robust financial position, and extensive digital footprint have earned it recognition as the second strongest financial brand on Earth in 2024 by Brand Finance.