Times Tower, Kenya Revenue Authority (KRA) head office. FILE PHOTO | NMG The anti-graft agency has launched a fresh bid to seize properties worth Sh597 million from a Kenya Revenue Authority (KRA) official, maintaining they are linked to bribes paid at Mombasa port. The Ethics and Anti-Corruption Commission (EACC), in its appeal, says that the […]
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 […]
Co-operative Bank Group MD and CEO Gideon Muriuki at a past investor briefing event. Co-operative Bank posted a profit of Sh11.4 billion. Jamii Bora Bank investors have unanimously accepted Co-operative Bank’s offer to acquire 90 per cent for Sh1 billion at the lender’s Annual General Meeting held Wednesday. This will be through the subscription of […]
The Nairobi Securities Exchange. FILE PHOTO | NMG The value of shares traded on the Nairobi Securities Exchange (NSE) in the first-half of the year rose by five percent, even as investors continue to experience a tough year where the value of their holdings at the bourse has slumped by Sh436 billion in the six-month […]
The top five gainers at the Nairobi Securities Exchange (NSE) on Tuesday were WPP ScanGroup, Sameer Africa, Olympia Capital, TPS Eastern Africa (Serena), and HF Group. WPP ScanGroup gained 26.29 percent at the price of 22.10 shillings per share followed by Sameer Africa with 9.51 percent at the price of 3.80 shillings per share. Olympia […]
Equity Bank is Africa’s best bank in this year’s Euromoney Awards for Excellence. It has managed a rare feat for banks in the continent, to become a domestic champion and substantial regional player in East Africa. It is also named as Africa’s best digital bank . “Under the stewardship of chief executive James Mwangi, the […]
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