The Village Girl. My Dream, Life and Legacy by Mary Wangari

I once attended a book launch where Plo Lumumba was a chief guest and he said he reads a book thrice for him to truly internalize it. I could not understand why three times till I held this book ‘The Village Girl, by Mary Wangari Wamae , I read it twice and loved it so much.

Her Early Life

In the land of the rolling hills, in Tetu, Nyeri county, a child is born on a cold July morning to a single mother of six. She traces her heritage so meticulously, weaving every piece of information about her early life. She mentions places I am so familiar with since I schooled in Nyeri county.

Reading this book, you can most definitely tell she holds her family very close. Family is one thing that grounds Mary. She tells us about her family members, her mother, siblings and some relatives. For those who grew up on the farm, know that the bonds in the village in the early years carry you along for so many years. I particularly resonated with the safari rally because growing up, one of my fondest memories was going to watch the safari rally at my grandmother’s place. The first car would be heard at 12am and we would all walk to the road till around 3 am. What a memory!

Mary grew up in church. As she narrates to us, faith is another key pillar in her life. She went on to study from primary school, all the way to getting her law degree and being admitted to the bar. Motherhood brought a very deep sense of responsibility and maturity to her. She narrates to us the mum-guilt that we all struggle with, the nanny drama , oh boy, this is another crazy motherhood phase and how she tried to ensure work-life integration to balance all interests that competed with her calendar.

The journey of Equity Bank

James Mwangi walked into her work place one day and told her he wants her to be part of the team. This just stamps the ‘’be so good at what you do, they cannot ignore you’’ phrase. And that is how her long relationship with Equity Bank Limited begun.

There was a certain niche that was not catered for and that was what Equity Bank Limited was trying to do. To improve financial literacy and accessibility to its customers across all social classes. I remember the ‘Kuwa member’ campaign like it was yesterday.

The story of Equity Bank is one of resilience. For an institution that had been technically declared insolvent in 1993, the turnaround at Equity is nothing short of spectacular. Equity is now East Africa’s biggest bank with more than 400 branches, 18 million customers and an asst base of $15 billion. Equity is studied as a case in universities like 美国哈佛商学院 , Stanford University Graduate School of Business , Yale School of Management , 美国麻省理工学院 - 斯隆管理学院 , 美国哥伦比亚大学商学院 , Lagos Business School, Pan-Atlantic University , among others.

It beats me that people wondered how the bank's business model, the concept of low margin and high volume, would penetrate the market of the big boys. As Equity rose, so did Mary. She says she took so many professional courses to be on top of her game. The concept of continuous learning.

Mary talks to us about the balancing act of being a mother, a partner, a career woman. It is tough. At one point, she had to get into a ‘Khat- van’- here is the thing, they are driven at almost 200km/hr.- just so that she would be with her kids. She highlights the importance of having a solid support system because this phase of life can drive you up the wall.

Boardroom lessons

She particularly attributes her success in the corporate world to :-

• Passion and finding a purpose on top of putting in the hours- Work hard and smart
• Be nice and respectful but assertive. Do not compromise your values.
• Have your facts on the finger tips
• Art of communication- Always be diplomatic
• The lens that men and women view things in the boardroom is different. However, this does not necessarily have to bring conflict.
• You got to develop a thick skin
• Keep re-inventing yourself and taking different challenges
• Things don’t just happen. They are made to happen through seamless and speedy execution of of strategy- A lesson she has learnt from her Mentor James Mwangi.

Lessons from Failure and Diversity

‘’We have to acknowledge our humanity and admit our vulnerability to truly get rid of the pain and anger within us’’ Mary

Mary narrates to us the period of how her mother, her pillar, started ailing and finally rested. Death is painful. So painful that grief follows you for so long to an extent you have to learn to live with it. She however, draws very many lessons from her who was a hard worker and eventually even got to into a chama that built houses for income.

Her marriage failing was also something she questioned herself. On how she succeeded in everything else except that. Fortunately, she was able to seek help form a therapist who assured her that the main difference in the mergers she had handled in the bank and her marriage, is that one has control of all the decisions required to move the deal forward, while in a marriage, it takes two to tango. Today, she has made us of how her life turned out.

The failure of the London business venture that Equity bank had hoped to get into gave them a huge lesson, and that is how the current international banking and payments branch was born. Failure is not necessarily a bad thing; it is part of success.

Lifting Others, Dreaming, living and Legacy.

‘’I want to become the champion of destiny for as many people as I can’’–Mary

She constantly asks herself; ‘’How do I influence the lives of others for the better and reconnect with my purpose?’’ She believes that mentorship plays a very big role in a person's life. While Money is important, sometimes it takes holding someone’s hand and pointing them to the golden door for them to unlock their own potential.

The lessons we can draw from this book are: -

• Building resilience: The greatest opportunities are disguised as obstacles, and if we are not careful, we can miss them.
• Power of Purpose: When the dream of Equity Bank looked like a pipe dream, James Mwangi told them;; In the next 5 years, Equity will be bigger than all the banks in Kenya. She emphasize don’t be afraid to walk the road less travelled.
• Opening the Golden door: There is no values in greatness if you cannot lift others up. She strongly believes that she would not be where she is today if others had not lent her a hand.
• Never Ever Give up on your dreams: Sometimes in our jobs, business undertakings and other endeavors, we can be tested to the limit. It's even worse if we are constantly reminded that we cannot make it. But it has to take all that you have to not quit.
• Be a person of integrity: Endeavour to do the right thing
• Loss, grief and failure are part of success: Learn how to handle difficult moments in a way that eventually leads you to appreciate the bigger picture.
• Be effective, not busy: Action without planning is a sure recipe for failure. Planning without action will not achieve any results.
• Love yourself: Convince yourself every day that you are worthy of a good life. Let go of stress, breathe. Stay positive, all is well.
• Anchor your life on the love of God and others: Keep the faith and stay prayed up.

In a nutshell

• Equity Group Executive Director, Mary Wangari Wamae , has been part of Kenya's financial transformation journey for nearly two decades, transitioning from a legal career to banking. She discusses her journey and important financial lessons.
• She started at Equity in 2004 as a lawyer and supported their transformation into a commercial bank. Her involvement deepened, and she joined Equity full-time, setting up the legal department and serving as the board secretary. Later, she took on the role of director for strategy as Equity expanded regionally.
• Her decision to transition from law to banking was influenced by Equity's purpose-driven approach, focusing on transforming lives and financial inclusion.
• Over two decades, the banking industry has changed significantly, with younger, tech-savvy customers and a shift towards digital banking and comprehensive financial solutions tailored to lifestyles.
• Customers have become more demanding and informed about financial trends, seeking convenience and protection against fraud in the digital age.
• Mary's advice for individuals and families is to cultivate a savings habit, prioritize insurance, and invest in education to understand financial strategies.
• She advises young professionals aspiring to work in banking to provide excellent service, listen to customer needs, innovate, and train staff for personalized service.
• Regarding the current economic environment, Mary discusses the challenges posed by the Covid-19 pandemic and the Russia-Ukraine crisis, advising businesses and individuals to adapt to the situation by reviewing costs, diversifying, and making sensible financial decisions.
• Mary also addresses mass loan defaults, emphasizing responsible borrowing for income-generating purposes.
• Balancing customer growth with risk minimization is about understanding customer needs and building strong partnerships.
• Mary's personal philosophy involves balancing liquidity with long-term investments, emphasizing the importance of insurance and proper retirement planning based on real-life observations of friends' financial experiences.