Expansion of fraud investigation by Equity Group to Uganda, following the dismissal of 1,500 employees in Kenya due to fraudulent activities.
### Equity Group's Anti-Fraud Campaign Expands to Uganda
Equity Group, Kenya's second-largest bank by assets with a capitalization of $1.3 billion (KES180 billion), has extended its anti-fraud measures to Uganda following a major staff misconduct purge in Kenya. The campaign, one of the most aggressive in Kenya's banking history, aims to strengthen governance and ethical standards across all seven of Equity's markets.
The Ugandan subsidiary publicly launched a "culture of accountability" campaign in July 2025, emphasizing regular audits, performance reviews, and the introduction of new whistleblower protections and AI-powered transaction analytics to flag suspicious activity. The initiative is not a reaction to a single incident but part of a broader effort to strengthen governance, as stated by Equity Bank Uganda Managing Director Gift Shoko.
The anti-fraud campaign in Uganda is being supported by external auditors and legal teams. All affected staff in Uganda are given a fair chance to explain themselves during the campaign. The bank is conducting regular audits, performance reviews, and is looking closely at conflict of interest and fraud risk.
The rapid shift to digital banking has introduced new vulnerabilities, especially in internal systems and staff behavior, for Equity Bank. In Kenya, some employees were dismissed over links to suspicious M-PESA and bank transactions, even where the amounts were small. The bank is scrutinizing every disbursement and where it was deposited to identify and prevent fraudulent activities.
The campaign represents a proactive, group-wide effort to strengthen governance, enhance transparency, and rebuild trust through a combination of stricter controls, ethical training, and technological innovation—while aiming to avoid the widespread misconduct seen in Kenya. New mechanisms to protect whistleblowers have been introduced, aiming to encourage staff to report unethical behavior without fear of retaliation.
As of July 2025, there are no reports of a major fraud scandal in Uganda akin to Kenya, suggesting the campaign may be preventative rather than reactive. The bank's proactive stance on governance appears to have been recognized, as Equity Bank was recently honored as the Best Regional Bank in East Africa.
The anti-fraud campaign in Uganda is expected to conclude by the end of July. The bank has vowed to expand the campaign across all seven of Equity's markets, including Rwanda, Tanzania, South Sudan, and the DRC. The initiative aims to foster a "culture of accountability" across all levels of the organization, signaling a shift from punitive measures to a more supportive yet firm governance model.
- As part of its ongoing effort to strengthen governance and ethical standards, Equity Bank Uganda will be implementing AI-powered transaction analytics and whistleblower protections, similar to the initiatives introduced in general-news regarding its Kenyan counterpart.
- The anti-fraud campaign in Uganda encompasses more than just punitive measures; it aims to foster a "culture of accountability" across all levels of the organization, mirroring Equity Bank's broader business strategy in both finance and crime-and-justice sectors.
