Contrary to the pessimistic financial news coming out of most banks lately, Equity Bank of Kenya recently reported record pre-tax profits and expansion plans for Nyanza Province. Equity Bank provides financial services to poor customers in Kenya and Uganda who have never previously had a bank account. According to CEO James Mwangi, the bank's high volume/low margin business model has been successfully attracting customers despite the difficult economic times, making it home to 49% of Kenya's bank accounts. Using its success for a greater good, Equity Bank will be signing a partnership with BAACH (Business Alliance Against Chronic Hunger) to provide Kenyans with access to financial credit, improving their farming activities in an effort to meet the Millennium Development Goals.
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