KCB goes payday: with a salary advance product, that mimics one popular, silent, product of Equity Bank – the salary advance loan. KCB’s is up to 100,000 shillings ($1,600) or 50% of salary with no hidden charges – read more on pay day loans
Equity niches: Equity has cut a niche for discovering new products – basically they see a gap and Kenyans with needs and they step forward and finance that need. Where there was no one there, now one can do pretty much anything. e.g Farmers crying about fertilizer costs, next thing, there are equity fertilizer loans for them!
Equity goes regional with the acquisition of Uganda Microfinance Limited: good luck creating a cross-border seamless bank that will enable account holders to transact regardless of countries. Even multi-nationals have hiccups with that.
KPLC extends credit : The KPLC (Kenya Power & Lighting Company) is looking for a bank/MFI to advance 400 million shillings (4 million euros) Electricity Connection Revolving Fund to allow their potential subscribers to pay electricity connection (setup costs) over several months. What are the odds that Equity will win the contract that requires that specifies that the award will go to a MFI/bank that is 10 years old with more than 30,000 active customers, a turnover of 100 million shillings, with 90% repayments and that has been rated by a recognized rating agency in the field of micro-financing/banking?