Money Matters: CEO James Mwangi

http://www.ntv.co.ke
James Mwangi has won practically every award in the financial services sector and for social transformation. Speaking from his spacious Equity Centre office in Upper Hill, he looks back on the bank he helped turn around, the future for it and the industry in Kenya. And for the first time, he hints that he may soon retire, saying he is busy mentoring the next generation of leaders to take over from him. He also shares his insights on entrepreneurship with host Larry Madowo.

Category:

News & Politics

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• KEnya
• ceo
• james
• mwangi
• larry
• madowo
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• matters
• equity
• bank

[shussey100]

This is what we need. A Kenyan company working for the interest of Kenya. If only there was more companies like this.

[MrChairmundu]

listen what Mwangi says at the 10:30... he says 71% on ksh 100,000 deposit. did I hear that well....noooo can't be.. not a chance. even ksh 5,000,000 only attracts 4.5%

[rashaenka]

@siasabora-Thanks for the elaboration.

[siasabora]

@rashaenka: the bank factors in the local risks...political uncertainties e.g. (the war of words bet a PM and Finance Minister); the job market;...the bank has to cover their back! Tough lack to you as a citizen: Yu either take up the challenge or pirates will own the estate market!

[siasabora]

@surambaya: default rates are customers responsibility not the bank...interest rates are determined by macro-economics gov'ts financial policies and global market trends....u right Micro-Finance do indeed charge higher interests rates than conventional banks. What attracts clients to MFI is their ease of entrance...loan assessment criteria...something Equity adopted and grabbed the market!

Source: an MFI specialist!

[siasabora]

@81: I believe you will! Go for it...!

[mytime81]

@siasabora Here we are now talking. The kind of stuff I enjoy watching, and learning and getting inspiration from. Hizi pumbavu zingine (politicians) thin money is harvested from trees. In 15 years, I promise to have created something that will change the lives of many, and the face of Kenya even if not in the magnitude of equity.

[rashaenka]

13% on mortgages is just too high why not 4.5 -5% like in usa?No wonder the takeup rate in kenya is very low like 8% of total pop.

[surambaya]

What's the default rate and average interest yield on their loan portfolio? Case in point, Grameen Bank (Microfinance) lends out very small amounts on the strength of collective accountability but the rates can get really exorbitant, the very low default rates notwithstanding.

[siasabora]

this is nation building...simple, humble and people driven!