The rumor states Equity Group Holdings dismissed more than 2,000 employees over conflicts of interest and set starting salaries for remaining permanent staff between Sh65,000 and Sh116,000.
This comes after Equity's May and June 2025 firings of over 1,200 Kenyan workers following an audit that uncovered Sh1.5 billion in fraud like payroll scams and suspicious M-Pesa deals.
CEO James Mwangi called it a stand against ethical breaches, with probes across East Africa; the bank's latest Q3 results show rising profits but no recent layoff mentions. Equity has stayed silent on the current buzz.