Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings and Executive Chairman of the Equity Group Foundation will be featured in a fireside chat with Harvard Business School Professor Caroline Elkins on July 22, 2020 at 5pm EAT, as part Africa.com’s webinar series Crisis Management for African Business Leaders . The webinar series […]
Equity Group Holdings (EGH) Ltd has taken over more than $20 million worth of loans owed by the loss making East African Cables Ltd in a major debt restructuring plan aimed at returning the manufacturer to a strong financial footing. The restructuring will result in the refinancing of East African Cables existing debt over a […]
Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings Plc. COURTESY: TWITTER/Equity Bank Kenya A proposed deal between Kenya’s Equity Group Holdings and financial services company Atlas Mara in which the former would acquire banking businesses in four African countries from the latter collapsed the Kenyan lender said on Tuesday. The banking businesses, […]
Equity Group Holdings (EGH) has halted its cross-border expansion bid after the failed acquisition of four banks in Rwanda, Zambia, Tanzania and Mozambique last week. Chief executive James Mwangi told The EastAfrican the lender which is listed on the Nairobi Securities Exchange (NSE) will now focus on "vertical" growth by consolidating and strengthening its business […]
Equity Group Holdings is targeting to be a trillion shilling bank in the next two years. Speaking during the Group’s 16th Annual General Meeting (AGM) on Tuesday, Equity Bank Group CEO James Mwangi told the shareholders that their focus is ‘deepening their foothold’ from a horizontal to a vertical model. He revealed that Equity Bank […]
Equity Bank’s Chief Executive Officer James Mwangi addresses investors at the Equity Bank headquarters in the Upper Hill district of Nairobi, Kenya November 12, 2019. REUTERS/Njeri Mwangi The Kenyan giant is renouncing the acquisition of African subsidiaries of the British headquartered bank Atlas Mara. A decision linked to Covid-19, but not entirely … Atlas Mara […]
Equity Group Holdings has ended its negotiations to acquire the banking businesses owned by Atlas Mara in Rwanda, Tanzania, Zambia, and Mozambique. The decision was informed by the uncertainty relating to the proposed acquisition. Equity had earlier in January 2020 announced the extension of discussions with Atlas following the expiry of the transaction period before […]
(Bloomberg) — For years, Kenya’s biggest listed conglomerate didn’t pay dividends and retained earnings to purchase more businesses. But now it’s paying dividends and even the Covid-19 pandemic won’t stop it. Centum Investment Co. has experienced “muted” fallout from the coronavirus, Chief Executive Officer James Mworia said an interview after the group posted a 79% […]
Kenyan banks are expected to hoard cash as they report a jump in first-quarter loan-loss provisions to cope with the aftermath of the coronavirus pandemic. Kenyan banks are expected to hoard cash as they report a jump in first-quarter loan-loss provisions to cope with the aftermath of the coronavirus pandemic. Kenyan institutions got a cash […]
The withdrawal of the dividend payout speaks to the Board’s assessment of risk, post balance sheet date of December 31, 2019 and of the Group’s approach to prudent risk mitigation and management./COURTESY NAIROBI, Kenya, May 26 – The Board of Directors of Equity Group Holdings Plc, the largest bank on the Nairobi Securities Exchange by […]
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