Kenya’s richest banker James Mwangi, the managing director and CEO of Equity Group, a leading financial services provider in East and Central Africa, has recorded a significant increase in the market value of his stake in the Nairobi-based lender.
Over the past 40 days, Nwangi’s stake in Equity Group has increased by $5.77 million over the past 40 days, cementing his position among Kenya’s richest individuals as investors renew buying interest in the shares of the region’s largest lenders.
Equity shares skyrocket by over 16 percent, market cap surpasses $1 billion
In recent years, Equity Group has become a dominant force in East and Central Africa under the leadership of James Mwangi, its managing director and CEO. 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.
In recent times, Equity Group shares on the Nairobi Securities Exchange have risen from Ksh37.2 ($0.279) on Feb. 8 to Ksh43.20 ($0.325), representing a 16.13-percent gain to shareholders. This has propelled the group’s market capitalization above $1 billion.
James Mwangi’s stake in Equity Group hits $41.5 million valuation
James 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 increased by Ksh766.86 million ($5.77 million) over the past 40 days, from Ksh4.75 billion ($35.77 million) on Feb. 8 to Ksh5.52 million ($41.54 million).
This surge not only solidifies Mwangi’s position among the top investors on the Nairobi Securities Exchange but also reaffirms his status as one of Kenya’s wealthiest individuals, underscoring the success of Equity Group under his strategic leadership.
