Equity Bank

Optasia, an AI-driven lending platform backed by a South African lender, is expanding into Ethiopia and Egypt, leveraging machine-learning algorithms to maintain a 1.2% default rate in credit-starved markets. The firm aims to address low private-sector banking credit in these countries, where traditional banks face higher default rates.

Equity Bank is planning to expand its operations into Africa, aiming to increase its market share and presence in the continent. The expansion plans are part of the bank's strategic growth initiatives. Equity Bank aims to establish itself as a major financial institution in Africa.