Equity recognised for its investments in the community while KCB was named most innovative lender
KCB Group #ticker:KCB and Equity Group #ticker:EQTY were feted at the 2019 edition of the African Banker Awards.
KCB was named the most innovative bank and also emerged as the top lender in East African region.
Organisers of the awards, IC Publications (producers of the African Banker magazine), said KCB was awarded because it “has demonstrated original and practical uses of technology to provide customer convenience, improved and more affordable services, and greater access to the financial services industry in Africa.”
KCB’s recent innovations include its partnership with Safaricom #ticker:SCOM to launch the mobile-based daily revolving credit service dubbed Fuliza.
Equity was awarded for its investments in the community, with the country’s second-largest bank funding the education of thousands of needy learners in secondary school.
The lender has expanded its education programme to take scores of high school graduates to some of the most prestigious universities in North America and Europe.
“The award is aimed at companies that go beyond the philanthropic use of funds to use their overall knowledge, resources and reputation to improve the lives of the less advantaged in society,” the organisers said.
Winners of the awards were announced on Tuesday night in Malabo, Equatorial Guinea on the fringes of the African Development Bank (AfDB) annual meeting.
Afreximbank was named Bank of the Year while Trade and Development Bank’s President Admassu Tadesse was crowned African Banker of the Year.
South African banks dominated the investment banking and deals of the year categories. Absa won Investment Bank of the Year. Standard Bank and RMB won the equity deal of the year with the VIVO Energy IPO.