On February 17 this year, the new entrant on the local banking scene, Equity Bank Rwanda announced it had managed to attract more than Frw 5.2 billion in customer deposits with another Frw 1 billion already advanced out in loans. Equity also said in that in the short period of five months it already was banking over 30,000 customers.
However, behind these numbers is a story of highly dubious practices. A Focus investigation reveals a company that will do anything, in complete disregard of the laws of the land.
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