Equity Bank

Courtesy of Equity Bank

    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

    SectorFinancials
    IndustryBanks
    CountryKenya
    Revenues ($ millions)612
    Company typePrivate
    CEOJames Njuguna Mwangi
    Websitewww.equitygroupholdings.com
    Impact SegmentEconomic Opportunity/Financial Inclusion

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