Erastus Mwencha has been appointed as the new board chairperson of Equity Bank Kenya. He takes over from Prof Isaac Macharia who retires. Professor Macharia, a renowned ENT specialist, has been on Equity Bank Kenya Board for six years four of which he served as chairman.
Speaking when welcoming Mwencha to Equity, Dr Mwangi, the Group Chief Executive Officer of Equity Group Holdings Plc said, “As management, we are honoured to have Ambassador Mwencha as the Board Chairman of Equity Bank (Kenya) Ltd. His vast experience and solid networks will enrich Equity’s international relations and development as we continue with our Pan African expansion strategy. His passion and advocacy for regional integration as a driver of Africa’s development, his high values for strong institutional systems and advocacy for a continental free trade area is well aligned with Equity’s vision of championing social economic prosperity for the people of Africa.”
When taking over the Chairmanship, Ambassador Mwencha said, “It is indeed a great privilege and honour to work with such a distinguished board that has great diversity of skills, expertise and experience. Working alongside a highly energetic and talented management team, I am confident that we shall scale greater heights in delivering integrated financial solutions that drive the social economic engine of our country. Most importantly, I am convinced that Kenya is strategically positioned to hub the economy of the region, and the role of financial institutions such as Equity will be Key.” He added “I am cognisant that I am taking over this role during a difficult social economic crisis brought about by Covid-19. However, I am positive that if Kenyans adhere to the strict health protocols that the government has put in place, Kenya will reduce the spread of the virus, and embark on the recovery route much faster. My commitment is to support management in their endeavour to continuously empower and deepen our relationship with our customers and help them to optimise
Erastus Mwencha was the Deputy Chairperson of the African Union Commission (AUC). Before joining the African Union Commission, he was the Secretary General of the Common Market for Eastern and Southern Africa (COMESA) from May 1998 to April 2008 where he served in various capacities including Acting Secretary General, Director of Industry, Energy and Environment and Senior Industrial Expert. Prior to COMESA, Mwencha also served the Ministry of Industry of the Government of Kenya as Head of Industrial Promotion Department and Secretary to Industrial Sciences Advisory Research Committee (ISARC) and the Kenyan Industrial Survey and Promotion Centre as a Senior Economist. He holds the highest Presidential state commendation in Kenya, EGH, in recognition of his contribution to national and regional development.
Mwencha graduated from the University of York with an MA Economics and University of Nairobi with a B.A. (Hons) in Economics.