Kenyan banker James Mwangi gains $3 million from Equity Group stake

Yusuf Abdulfatai -

Kenyan banker James Mwangi, the managing director and CEO of Equity Group — a leading financial services provider in East and Central Africa — has recorded a $3-million surge in the market value of his stake thanks to the recent surge in the share price of the leading lender.

Mwangi, one of the wealthiest individuals on the Nairobi Securities Exchange, has seen his stake in Equity Group surge by Ksh492.07 million ($3.04 million) over the past 29 days — driven by renewed investors’ interest evident in the uptick in the lender’s market capitalization.

Equity shares surge by 11.44 percent, market cap soars above $870 million

In recent years, Equity Group has become a dominant force in East and Central Africa under the leadership of Mwangi, its managing director and CEO, who owns 3.38 percent of the group. Mwangi’s strategic vision has expanded the lender’s operations into multiple countries, including Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of the Congo.

Since the start of the year, Equity Group shares on the Nairobi Securities Exchange have increased from Ksh33.65 ($0.208) on Jan. 1 to Ksh37.5 ($0.232) — returning an 11.44-percent gain to shareholders and pushing the group’s market capitalization above $870 million.

James Mwangi’s stake in Equity Group nears $30 million milestone

Mwangi, recognized as the richest banker in Kenya, owns a 3.38-percent stake in Equity Group, equivalent to 127,809,180 ordinary shares in the prominent financial services conglomerate.

Data tracked by Billionaires.Africa reveals that the market value of his stake in Equity Group has risen by Ksh492.07 million ($3.04 million) over the past 29 days, from Ksh4.3 billion ($26.55 million) on Jan. 1 to Ksh4.79 billion ($29.59 million) at the time of reporting.

This surge not only reinforces Mwangi’s standing among the top investors on the Nairobi Securities Exchange – but also reaffirms his status as one of Kenya’s wealthiest individuals – further highlighting the success of Equity Group under his strategic leadership.