The recently held 2019 edition of the African Banker Awards saw Tier one banks KCB and Equity awarded for their exemplary services in banking.
The award ceremony which was held on the sidelines of the African Development Bank (AfDB) annual meeting in Equatorial Guinea on Tuesday saw KCB Group awarded the most innovative bank in the East African region as well as the area’s top lender.
IC Publications, the organisers of the annual event that recognize the reforms, rapid modernisation, consolidation, integration and expansion of Africa’s banking and financial system said KCB was feted because of its success in integrating technology into the banking sector.
“KCB Bank has demonstrated original and practical uses of technology to provide customer convenience, improved and more affordable services, and greater access to the financial services industry in Africa,” IC Publications, the publishers of the African Banker magazine, said in a statement.
KCB’s recent innovations include its partnership with Safaricom to launch the mobile-based daily revolving credit service dubbed Fuliza.
Equity Bank was on the other hand recognized for its Corporate Social Responsibility (CSR) scholarship programme that provides tuition fees to bright but needy students who cannot afford decent secondary education. The lender’s scholarship programme also extends to institutions of higher learning, with the bank sponsoring high school graduates who have qualified to pursue university education.
“The award is aimed at companies that go beyond the philanthropic use of funds to use their overall knowledge, resources and reputation to improve the lives of the less advantaged in society,” IC Publications said.
Moving away from the East African region, the two big awards of the night went to development finance institutions. Afreximbank won Bank of the Year while Development Bank’s President, Ethiopian Admassu Tadesse, won African Banker of the Year.