Equity Group Undertakes Comprehensive Ethics Reform to Boost Transparency

Equity Group Holdings Plc has embarked on a sweeping ethics reform initiative, signaling a decisive move to bolster accountability and transparency across its extensive operations spanning Kenya, Uganda, South Sudan, Tanzania, and the Democratic Republic of Congo.

The comprehensive campaign, personally announced by Group CEO Dr. James Mwangi, entails a rigorous overhaul of internal processes, including in-depth internal audits, meticulous employee behavior evaluations, stringent conflict-of-interest checks, and robust fraud screenings.

The impact of these reforms has already been keenly felt in Kenya, where over 200 staff members have been dismissed following the uncovering of a substantial 1.5 billion Kenyan shilling payroll and M-Pesa fraud scheme.

“We must protect the brand. Accountability is not an option — it is a duty,” Dr. Mwangi emphatically stated, underscoring the Group’s unwavering commitment to ethical conduct.

The reform drive has now officially extended beyond Kenya’s borders. Gift Shoko, the Managing Director of Equity Bank Uganda, has informed staff that the review process has commenced within the Ugandan operations, indicating a synchronized effort across the Group’s regional network.

As part of this significant transformation, Equity Group is rolling out a suite of new tools and safeguards designed to embed ethical practices more deeply within the organization. These include mandatory ethics and compliance training for all staff, enhanced whistleblower protection mechanisms to encourage transparent reporting, and the introduction of digital platforms for anonymous reporting of irregularities.

The reforms have reportedly sparked a period of critical reflection among staff members across the Group, with many expressing their support for the initiative and recognizing its importance for the bank’s long-term integrity.

The Group’s leadership asserts that these reforms are firmly rooted in Equity Bank’s foundational core values of integrity, professionalism, and responsible stewardship. Dr. Mwangi has made it clear that this is not merely a temporary clean-up operation but a profound cultural transformation aimed at embedding ethical behavior and practices at every level and within every facet of the organization. The initiative is set to redefine the operational standards and trust within one of Africa’s leading financial institutions.