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Wednesday, August 25, 2021 – Equity Bank has today denied extending a Sh15 billion loan to a Turkish businessman linked to Deputy President William Ruto.

Appearing before a parliamentary committee, Equity Bank Managing Director, Gerald Warui, said the bank does not have any banking relationship with Harun Aydin.

“He does not operate and does not have a banking relationship neither does he have a loan with us,” Warui said.

Warui appeared before the National Assembly Finance Committee chaired by Homa Bay Woman Rep Gladys Wanga.

The manager also told MPs that he is not aware of the phone call purportedly made by Ruto to the bank to facilitate the loan.

Ruto had previously said he had made a call to Equity bank after an investor approached him seeking help finding funding to set up a Covid-19 vaccine plant in Uganda.

Now, Ugandan President, Yoweri Kaguta Museveni, has cleared the air on the name of the investor who was assisted by Equity Bank to open a vaccine manufacturing plant in Matugga, Wakiso.

The businessman is Mathias Magoola, who is a close friend of William Ruto.

The facility, a brainchild of Mathias Magoola and funded by Equity Bank Ltd will focus on applying biotechnology to solve the health challenges of humanity through the creation of novel drugs, vaccines, and diagnostics,” Museveni tweeted on July 6th,2020.

Magoola, with a group of foreign investors, own Dei BioPharma Ltd


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