Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: Press Releases: Equity Bank Opens Fourth Branch in South Sudan

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Kenya: Press Releases: Equity Bank Opens Fourth Branch in South Sudan

Thursday, 01 September 2011

Nairobi, 31 August 2011 ---- Regional financial services provider Equity Bank has moved to enhance its South Sudan operations with the opening of its fourth branch in Juba. As part of its branch expansion plans, Equity Bank South Sudan has opened a fully-fledged branch in Juba’s Bilpam suburb, which holds commercial strategic significance as the home to the Sudan People’s Liberation Army (SPLA) general headquarters.

The new Equity Bank Bilpam branch was officially opened by the SPLA Deputy Chief of General Staff for Administration and Finance, Lt. Gen Pieng Deng Kuol, in a colourful ceremony witnessed by scores of SPLA officers.

Speaking during the launch, the Equity Bank South Sudan Executive Director Mr. Paul Gitahi thanked the South Sudanese government for its continued support and announced that the bank was developing tailor made products and services for the South Sudan market. “We want to thank the government, central bank and people of South Sudan for their support and want to assure that we shall continue to research and develop products and services that address the needs and aspirations of our customers and the people of South Sudan” said Mr. Gitahi.

The Chief Guest Lt General Pieng Deng Kuol, who was accompanied by other senior members of the SPLA, commended the bank for reaching out to the people and especially the soldiers who will now enjoy banking services closer to their general headquarters. He asked the SPLA staff to take advantage of Equity Bank services, which are now readily accessible in their locality. He requested the bank to invest in financial literacy training for soldiers.

The Director of Bank Supervision Central Bank of South Sudan Mr. Daniel Gwagwe, who represented the Governor Mr. Kronelio Koriom Mayik, informed the guests that Equity was well capitalised to roll out operations in the whole of South Sudan. “The specialized expertise of International financial institutions like Equity Bank is needed to augment existing efforts in the Republic of South Sudan by our government, for this newborn nation to have a stable monetary system capable of supporting economic growth, prosperity and development in all the sectors of the economy” he added.

Mr. Gitahi informed the invited guests that Equity would partner with the people of South Sudan on their journey to transform their lives and livelihoods as they also build their new nation. He said that thebank would in the near future start operations in other states like Western Equatoria, Eastern Equatoria, Jonglei and Western Baraghazal.

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