Equity Group has launched an aggressive internal clean-up to root out fraud and misconduct, unveiling a reinforced leadership team to address insider theft and lax work practices.
Group Managing Director and CEO James Mwangi made the announcement while releasing the bank’s half-year results, saying the lender has appointed seasoned professionals to drive the crackdown and restore integrity across operations.
Among the new appointments is David Ssegawa, who joins as Group Director of Human Resources. Mwangi credited Ssegawa with taking decisive action against rogue employees accused of stealing from both customers and the bank, as well as those whose poor work habits have slowed services.
“When David came in, he said, ‘Enough is enough let’s audit conduct.’ We’ve dealt with those stealing from customers; now we are asking, what about those stealing from the employer?” Mwangi said.
He described cases where employees arrive at work, hang their coats, and disappear for hours, creating long queues and frustrating customers. Ssegawa’s team is now tracking daily transactions of every employee to flag those failing to perform.
Mwangi noted that most fraud cases in the bank’s history had insider involvement, with at least one staff member facing court charges in each incident.
“Nothing happens without someone inside. We are cleaning house thoroughly. Never again will one person’s misconduct tarnish everyone,” he said, assuring clients that such breaches would not happen again.
To bolster the campaign, Equity has recruited several senior executives from outside the bank, including Naftali Mwangi as Group Director for Fraud Investigations and Security, Sam Gitwekere as Group Chief Risk Officer, Patrick Kinoti as Group Director for Non-Financial Risk, and Wafula Wabwire as Group Director for Internal Control and Compliance.
Mwangi said the bank chose to bring in external talent rather than train and promote from within, citing the urgency of the situation.
He explained that while the financial losses from past fraud could have covered the cost of these hires, protecting the bank’s reputation was the priority.
“This transformation is about having the right skills and competencies. Internally, we will be spotless culture will change, and everyone will understand it’s a contractual obligation. We have been a family for too long; now it’s time for professional discipline,” Mwangi said.
He ended with a firm message to staff: “If you see us using a hammer to kill a fly, it’s because it’s hitting us where it hurts most our culture and our brand.”
