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Only 34% of sub-Saharan Africans have a bank account, according to the World Bank—but that’s up from 24% in 2011, thanks in part to Equity Bank. The Kenyan lender has pioneered the expansion of financial services across the continent, including mobile banking (see also our No. 1 pick). Once a struggling mortgage financier, Equity pivoted to microfinance, bringing branches to the countryside and offering small loans to Africa’s unbanked. It’s now one of the continent’s largest financial institutions in terms of customers—with more than 10 million.

Company Info

Sector
Financials
Industry
Banks
Country
Kenya
Revenues ($ millions)612
Company type
Private
CEO
James Njuguna Mwangi
Websitehttp://www.equitygroupholdings.com
Impact Segment
Economic Opportunity/Financial Inclusion

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