Negotiating foreign exchange (FX) rates has traditionally been a cumbersome process, requiring individuals and businesses to visit bank branches or get on call with Treasury desks. This process can often be time-consuming and inconvenient, leading to delays for those with urgent financial needs. Additionally, the limited accessibility of these services, restricted to banking hours, meant customers could not transact during evenings, weekends, or public holidays, making it particularly challenging for those with tight schedules.
To address these challenges and meet the growing demand, Equity Bank has introduced the FX Preferential Rate Solution. According to the bank, this platform is tailored to meet the needs of individuals and businesses that frequently handle foreign currency transactions. It allows customers to access preferential FX rates directly through the bank’s digital platforms, Equity Mobile App and online, eliminating the need for branch visits or lengthy phone calls.
The Preferential FX Rate Solution enables users to access discounted rates via the app or online, based on the value of their transactions. Customers can view discounted rates tailored to their account and transaction details and execute transactions directly through the app or online. Each transaction is assigned a unique reference number for transparency and tracking. The system is designed to automatically apply discounted rates, with higher transaction values attracting better rates. Once the rate is confirmed, users can finalize the transaction in real time, avoiding delays and manual processes.
This solution comes at a time when Kenya’s foreign exchange market is experiencing significant growth and transformation. The Central Bank of Kenya (CBK) reported record-high foreign exchange reserves of $12.5 billion as of January 2026, providing 5.4 months of import cover. This growth has been supported by remittance inflows, which totalled $435 million in December 2025, and a booming retail forex trading market, which now boasts over 100,000 active traders in Kenya. Kenya’s international trade volume reached Ksh973.6 billion in the second quarter of 2025, further reflecting the critical need for seamless cross-border payment solutions for businesses.
Equity Group full year 2025 net profit jumps 55 percent to Sh75.5 billion
These developments highlight the increasing demand for efficient and accessible forex solutions.
Equity’s Preferential FX Rate Solution is ideal for a wide range of customers. This solution simplifies international payments, enabling organizations to focus on their core operations without being hindered by the delays and complexities of traditional FX processes.
It allows travelers to access competitive foreign exchange rates for their trips abroad, freelancers and expatriates to manage regular foreign currency transactions with ease, and businesses to streamline cross-border payments. NGOs and development sector organizations can facilitate payments for international projects, while traders dealing in large currency transactions can negotiate better rates, ensuring both cost savings and convenience.
As technology reshapes how individuals, businesses and organisations manage cross-border transactions, more Kenyans hope that these solutions will lead to greater financial inclusion, reduced transaction costs, and improved access to global markets, enabling them to fully participate in the opportunities of a connected world.
