Equity Group Managing Director and chief executive James Mwangi. PHOTO | DENNIS ONSONGO | NMG We are a trusted broker, because we know both sides and we have no interest other than in their success. We gave the Congolese the impression that this is a bank that cares, and the Kenyans that this is a […]
Tag: equity group holdings
Zimbabwean Heads Africa List Of Women To Watch In Banking And Finance
Marjorie Mayida WOMEN to Watch in Banking and Finance program has announced the list of Top 10 women shaping Africa’s financial services sector. The list was compiled following a 3 month entry period which saw professionals from Kenya, Côte d’Ivoire, Mauritius, Nigeria, Rwanda, South Africa, Uganda, Zambia, and Zimbabwe submit applications. Kenyan WallStreet and Kaleidoscope […]
Equity ventures into insurance business
IRA chief executive Godfrey Kiptum with Equity Group CEO James Mwangi during the issuance of a licence allowing the Group to run an insurance business /HANDOUT Equity has ventured into the insurance business in what could shake up the market and help grow penetration to above the current 2.2 per cent. The Insurance Regulatory Authority […]
Kenya Equity Subsidiary Borrows U$165M From IFC
The Kenyan banking subsidiary of Equity Group has borrowed a total of $165 million from the International Finance Corporation (IFC) – one of the largest single credit facilities to a local lender. The proposed investment disclosure comes as the global financier also moves to acquire a 6.7 percent stake in the Nairobi Securities Exchange -listed […]
IFC acquires Sh12.2 billion stake in Equity Group
Britam Holdings has sold Sh12.2 billion worth of shares in leading Kenyan lender Equity Group to the International Finance Corporation (IFC). The deal, revealed through a regulatory notice by Equity Group Holdings (EGH), now gives the investment arm of the World Bank a 6.7 per cent share of the lender. “EGH was notified that on […]
Equity takes Sh21bn IFC loan days after buy-in
The International Finance Corporation (IFC) is set to lend the Kenyan banking subsidiary of Equity Group #ticker:EQTY $165 million (Sh21.1 billion), marking one of the largest single credit facilities to a local lender. The proposed investment disclosure comes as the global financier also moves to acquire a 6.7 percent stake in the Nairobi Securities Exchange […]
Britam to earn Sh14bn from sale of Equity Group shares
Insurance firm Britam Holdings #ticker:BRIT is set to raise Sh13.9 billion from the sale of 253.1 million shares of Equity Group Holdings #ticker:EQTY to the International Finance Corporation (IFC). Sources familiar with the transaction told Business Daily that IFC will acquire the shares at a price of Sh55 each based on negotiations with the insurer. […]
FEATURED: Equity Bank Rwanda IT system gets international certification
Equity Bank Rwanda PLC has received an International Standards Certification – ISO/IEC 20000-1:2018 on IT Service Security Management Systems from the British Standards Institution (BSI). The certification cements the Bank’s commitment to prioritising customer safety and satisfaction, according to the lender. ISO 20000 is proof that the Bank’s service management system is robust enough in […]
Regional lender Equity eyes more business after agreement
Equity Bank branch in Kibera, Nairobi, on May 24, 2020. Equity, which holds over $8.92 billion in assets, has mobilised close to $4.46 billion to fund businesses in countries where it has a presence such as DRC, Uganda, Tanzania, Rwanda, South Sudan and Kenya. FILE PHOTO | DENNIS ONSONGO | NMG The lender, which is […]
Kenya’s Equity Group says 9-month pretax profit up, loan loss provisions fall
NAIROBI (Reuters) – Kenya’s Equity Group Holdings said on Monday its nine-month pretax profit rose 85% to 36.6 billion shillings ($328.25 million), helped by rising interest income and falling provisions for bad loans. Chief Executive Officer James Mwangi told an investor briefing the lender’s net loans increased 23% to 559 billion shillings, while net interest […]