TRANSFORMING LIVES THROUGH INCLUSIVE FINANCIAL ACCESS:
Access to affordable financial services is a significant challenge in Africa. In Kenya, for example, more than 70 percent of households relied on informal sources of financing in 2007. Kenya-based Equity Bank has developed financial products that target the low-income market to achieve scale through a high volume of relatively small, low-margin transactions. This allows the bank to keep costs low, while providing stable funding to customers and promoting accessibility, convenience, affordability, and efficiency of financial products and services. Equity Bank currently reaches more than 1.7 million low-income consumers across Africa.
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