Willy K. Mulamba is EquityBCDC’s new Managing Director. He was appointed during a Board meeting held on November 8, 2024. Mulamba replaces Célestin Mukeba, who has been MD since 2020. According to the bank, this and other board appointments are aimed at "strengthening oversight, governance and internal controls."

As of the end of October 2024, EquityBCDC, which is 85.67% controlled by Kenya-based Equity Holdings Group, reported over 1.8 million customers with a total balance sheet of $4.4 billion. However, a recent analysis by Moody's indicates that the bank faces high loan concentration and a significant level of sub-prime loans, which could affect its asset quality. In its 2023 risk report, the bank stated that "liabilities to individual counterparties or business groups are below the 25% limit." At the end of December 2023, it had outstanding receivables of $417.70 million, representing 21% of the total portfolio, with these receivables being 44% higher than in 2022.

EquityBCDC aims to reach 30 million people in the Democratic Republic of Congo by 2030. While adequately capitalized, the lender must find the right balance between driving rapid loan growth and improving its capacity to absorb potential losses.

Willy K. Mulamba has the profile to meet these challenges; he brings over 20 years of experience in the global financial services industry. His expertise encompasses corporate governance, risk management, and transaction negotiation. Previously, Mulamba headed Citibank RDC and chaired the Association Congolaise des Banques.

He will be supported by a reorganized management team that includes deputy general managers for the western and southern regions of the country, as well as a new director for the EquityGroup foundation in the DRC. "The foundation will play a crucial role in realizing EquityBCDC's vision of promoting the socio-economic prosperity of Africans, and Congolese in particular," says the bank.

Georges Auréoles Bamba