Guide on How to open an Equity Bank Agency business in Kenya 2020

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Equity agent

Equity bank agency banking services has created a lot of opportunities for business enthusiasts. Since the introduction of the service in 2011, anyone can easily become an Equity Bank agent. With the many shops available, you can easily access banking services from withdrawals, deposits, mini-statements, account opening, bills payment, utility payments, fees payment, buying goods and services, and so on. You no longer have to go to the bank for simple money transactions.

This lucrative agency business is simple to open using the correct channels. Before being legible for the business, there are vital documents you need to have for it to run smoothly.

What are the requirements of starting the agency business?

As it is a lucrative business, you need to be responsible for its growth. Not everyone can handle a business and make it grow. You need to be dedicated and ready to make it your investment.

Here is what is required:

  • Valid business permits for the existing business
  • Exceptional moral standards with a great reputation
  • A strategic business location that is highly accessible, reachable, and very secure.
  • An existing business that has been in operation for a minimum of 12 months before the application
  • A brief description of commercial activity for the past 12 months
  • Current statements for the past 6 months

What documents you need to open an Equity Bank Agent business:

  1. A Good Conduct Certificate
  2. A signed and completed Agency Banking Application by the applicant
  3. Curriculum Vitae (CV) of each applicant
  4. Copies and Original National ID of the principal applicant
  5. Two passport size photos of the applicants
  6. Any banks or institutions Loans statements
  7. Report from the Credit Reference Bureau (CRB)
  8. Certificate of registration of the business name or a copy of the certificate of incorporation
  9. 3 Copies of pre-signed Equity Agent Contract to accompany the application
  10. An updated business profile for commercial activity for the past 1 year
  11. Audited financial records for the past 1 year
  12. Articles and Memorandum of partnership/association deed if applicable
  13. Valid Business license or permit for any lawful commercial activity done on the entity
  14. 3 colored photos of the business outlet with:
  15. Interior view of the shop from the door
  16. The outside view from the door to the nearby premises
  17. Interior view with stock
  18. Sketch map for the business and home location
  19. Board resolution (applicable to partnerships and companies)

Having documents and requirements are not enough for agency business. For any business, there needs to be disciplined and ready. If you believe you are all in, walk into any Equity bank branch and become an accredited Equity bank agent!


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