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NAIROBI, 5TH NOVEMBER 2020: Equity Bank (Kenya) Limited (EBKL) has appointed Prof. Timothy Waema as Non-Executive Director.
Prof. Waema brings on board his extensive ICT experience that spans over 30 years in both private and public sector organizations in Kenya and the African region. He is a Professor of Information Systems in the School of Computing and Informatics in the University of Nairobi. He has consulted for numerous government ministries, private sector and NGOs in Kenya and other African countries on ICT and related issues. He has expertise in strategy development and execution, at both corporate and IT function levels and has worked for many years at the intersection of information technology, strategy, policy and innovation. He sits in the Council of Strathmore University and is a member of the Advisory Board of the Carnegie Mellon University – Africa in Rwanda.
While welcoming Prof. Waema to the board, EBKL Chairman Ambassador Erastus Mwencha said that he was delighted to have a highly accomplished executive joining the Kenya board to contribute his expertise in oversight and leadership during this time when businesses have to navigate unprecedented challenges occasioned by the social economic impact of COVID-19.
“Now more than ever, the Bank needs to consider all risks associated with the pandemic, opportunities around digitisation and decisions on how to steer the financial institution. Prof. Waema joins a highly talented Board and his experience in ICT will be instrumental in taking the bank to its next level of growth. I welcome him to the Equity Kenya board and wish him all the best in rendering his services,” said Ambassador Mwencha.
Prof. Waema commenting on his appointment, “In the wake of the pandemic, ICT continues to be at the fore in facilitating the new way of doing things. The bank continues to accelerate its digital agenda through the roll-out of innovative digital products, enhancements and capabilities that support this new normal. I am excited to be joining the bank at this time; and look forward to propelling the Bank to even greater heights.”
EBKL is a subsidiary of Equity Group Holdings Plc and holds the lion share of the Group’s business contributing to over 80% of the profitability.
The Bank has been named the Top Banking Super brand in Kenya for thirteen years in a row since 2007. Moody’s gave the bank a global rating of B2, Global Rating of Aaa.ke/KE-1 with a Negative outlook same as the sovereign rating of the Kenya Government. Global Credit Rating Co. (GCR) rated the bank AA- for long-term and A1 for short term, with a Negative outlook. The bank has emerged the Overall Best Bank at the 2020 Think Business Banking Awards for the 9th year in a row. It also won across 22 award categories becoming the most recognized market leader in the country. The bank was also named Africa’s SME Bank of the Year, for the third year in a row at the 2020 Global SME Finance Awards and the Best Regional Bank in East Africa at the African Banker Awards.
