In this post, we are going to look at the requirements one must meet before applying to become an Equity Bank agent in Kenya.
Equity’s agency banking enables Kenyans to access and enjoy banking services conveniently at their doorstep without having to visit a branch. The service which was launched in 2011 has seen massive growth since interception.
To become an Equity Agent, you need the following requirements:
- An existing business that has been operating successfully in the same location for a minimum of 12 months prior to application
- Valid business permits for the existing business
- A strategic business location – accessibility, visibility and security
- A good reputation and high moral standing
- An excellent reach and catchment area
- A brief description of commercial activity- 12 months
- Current statements for the last 6 months
Documents one must have before making an application.
- Agency Banking application duly completed and signed by the applicant
- National ID and copies for the principal applicant(s)
- A certificate of good conduct
- A brief description of the commercial activity for the past 12 months (business profile)
- Bank and/or Loan statements from any other institution for the past 12 months
- Three (3) copies of pre-signed Equity Agent Contract to accompany the application
- Copy of certificate of incorporation or certificate of registration of the business name as applicable
- Articles and memorandum of association/Partnership deed where applicable
- Board resolution (applicable to companies and partnerships)
- Valid business license or permit for any lawful commercial activity carried on by the entity
- Audited financial records for the past 12 months
- Sketch map for business and home location
- Credit Reference Bureau report (CRB)
- Two passport size photos for every applicant
- Curriculum vitae (CV) of all the applicants
- Three colored photos of the business outlet showing:
- Interior view of premises from the door
- Interior view showing stocks
- Outside view – 15 metres from the door showing nearby premises
