Eq­uity Bank Con­tracts McKin­sey for Strat­egy Re­view

Diplomat East Africa - - Economy - By ROBIN OBINO

Global man­age­ment strat­egy firm McKin­sey will play a business ad­vi­sory role in the im­ple­men­ta­tion of Eq­uity Bank’s 3.0 strat­egy fol­low­ing a deal signed by the two firms.

The part­ner­ship will guar­an­tee the bank ac­cess to global man­age­ment re­sources re­quired to fuel its trans­for­ma­tional 3.0 strat­egy geared at chang­ing bank­ing to a life­style. The strat­egy will turn Eq­uity Bank from the con­ven­tional

bank­ing model that is:

Eq­uity Bank Group, MD and CEO, Dr James Mwangi, says that the growth of de­vel­op­ing coun­tries to medium in­come economies will be highly de­pen­dent on a mix of lo­cal and global value sys­tems in­clud­ing shared pros­per­ity val­ues, fi­nan­cial lit­er­acy, so­cial co­he­sion and de­lib­er­ate ef­forts to raise aca­demic stan­dards.

“Such in­clu­sive part­ner­ships will in­volve ef­forts to em­power African pub­lic and pri­vate sec­tor play­ers to adopt world class but lo­cally for­mu­lated de­vel­op­ment strate­gies through mu­tu­ally agreed col­lab­o­ra­tive av­enues,” he said.

The bank’s suc­cess is largely as a re­sult of for­mu­lat­ing so­lu­tions to lo­cal fi­nan­cial in­clu­siv­ity chal­lenges. “We think global and act lo­cal in in­no­va­tion and de­liv­ery of our ser­vices,” said Dr Mwangi.

The McKin­sey & Company Global Man­ag­ing Di­rec­tor Mr

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