Anti-fraud efforts intensified: Equity Group broadens operations in Uganda as part of extensive governance revamp
Equity Bank Uganda has launched an expanded anti-fraud initiative called the "Culture of Accountability" campaign, aimed at reinforcing ethical conduct, tightening internal controls, and eliminating conflicts of interest across all departments and branches in Uganda. This campaign is part of a broader group-wide governance overhaul prompted by a major fraud scandal in Kenya.
The campaign was announced publicly on July 3, 2025, and has been actively implemented since then. Key measures introduced include routine behavior audits and performance reviews, conflict-of-interest disclosure guidelines, whistleblower protection mechanisms, ethics training programs, and the use of artificial intelligence to monitor transactional anomalies and detect irregular transactions.
Confidential feedback channels within human resources have also been established to ensure fairness and due process. The purpose of the Uganda initiative is proactive and preventive, aimed at upholding integrity and accountability, rather than a reactive punishment campaign. It seeks to guide staff towards ethical standards and take firm disciplinary action where misconduct is confirmed.
The campaign is expected to bolster internal transparency, reduce fraudulent activities, and restore customer and stakeholder confidence by scrutinizing every disbursement and its destination. Equity Bank Uganda Managing Director, Gift Shoko, emphasized that the culture of accountability is grounded in the group's corporate governance policies and reflects a commitment from the top leadership to maintain high ethical values and safeguard both staff and customers.
The "Culture of Accountability" campaign represents an expanded, technologically aided internal reform effort, designed to strengthen anti-fraud measures, promote ethical behavior, and prevent misconduct within Equity Bank’s Ugandan operations. It draws lessons from a significant fraud purge in Kenya, where over 1,500 staff were dismissed due to involvement in siphoning over $15 million through collusion with external fraudsters.
The anti-fraud process in Uganda is anticipated to conclude by the end of July. All implicated employees are being afforded a fair opportunity to present their side. Disciplinary actions are now in progress for employees who have not presented their side. It's important to note that Equity Bank primarily serves low-income clients with affordable services.
This campaign aligns with Equity Group's ongoing strategy to enhance governance throughout its operations, with CEO James Mwangi pledging to extend this initiative across all seven of Equity Group's markets, including Uganda, Rwanda, Tanzania, South Sudan, and the DRC. Mwangi's anti-fraud drive, launched in May, is one of the most assertive in Kenya's banking sector.
[1] Equity Bank Uganda Press Release, July 3, 2025. [2] The East African, July 5, 2025. [3] Daily Monitor, July 6, 2025.
- The Culture of Accountability campaign, an internal reform effort bolstered by technology, has been initiated by Equity Bank Uganda to strengthen anti-fraud measures within their operations, aligning with the bank's corporate governance policies and industry standards.
- This proactive campaign, which includes the use of artificial intelligence and routinely audits, serves as a strategic move in the finance sector, aiming to promote ethical behavior, reduce fraudulent activities, and safeguard both staff and customers' interests, while boosting business reputation and public trust.
