Juba, December 26, 2015 (SSNA) — Kenyan-based Equity bank has been awarded best prize for its ‘investment, employment opportunities, and for offering financial literacy training’ in the Republic of South Sudan, according to the occasion planners.
South Sudan Chamber of Commerce (SSCC), one of the organizers for the event in Crown Hotel in Juba, praises Equity’s subsidiary for its work in the violence-ravaged young nation, saying South Sudan needs bank like Equity.
In presence of representatives of all accredited banks in South Sudan, Mr Paul Gitahi, the Managing Director of the Juba-based branch called the award a “victory” and declared that Equity will increase its financial operations in South Sudan.
However, critics dismissed the prize as "self-serving reward," and accuse South Sudan’s government of consistently laundering money through Equity’s Juba branch.
“Equity Bank was founded as Equity Building Society (EBS) in October 1984 and was originally a provider of mortgage financing for the majority of customers who fell into the low income population,” according to a statement published on Equity’s website.
An attempt by the South Sudan News Agency (SSNA) to get Equity’s employment data for South Sudanese was not immediately answered.